#1Right Place, Right Time, Right Company IIOD Indonesian Institute for Corporate Directorship Proudly Presents PT Lippo Karawaci Tbk The 8th IICD CORPERATE COVERNANCE Top 50 Public Listed Companies Hotel Indonesia Kempinski jakarta 7 November 2016 Evil L Sigit Pramono Chairman, ECD ♡ LIPPO PT Lippo Karawaci Tbk 9M 2016 Indonesia's Largest and Most Integrated Property Group Leaders in Integrated Developments, Hospitals, Retail Malls, Hotels and Asset Management#2CONTENTS CORPORATE STRUCTURE LARGEST & MOST INTEGRATED PROPERTY COMPANY FOUR BUSINESS DIVISIONS COLIPPO PT LIPPO KARAWACI TBK 01 02 03 MOST RECENT FINANCIAL RESULTS DIVERSIFIED LANDBANK & PROJECTS 04 - 05 06 - 07 MOST INTEGRATED BUSINESS MODEL 08 HIGHLY EXPERIENCED & PROFESSIONAL MANAGEMENT 09 GROWTH STRATEGIES 10 OUR PORTFOLIO 11 36 FINANCIAL PERFORMANCE 37 - 41 APPENDICES 42-62#3CORPORATE STRUCTURE COLIPPO PT LIPPO KARAWACI TBK LIPPO RELATED COMPANIES 25.95% CREDIT SUISSE AGSG TRACCL MPU 5.32% PUBLIC 68.73 % As of 30 Sept 2016 No of Floating Shares: 22,771,585,119 Code LPKR.JK; LPKR IJ COLIPPO PT LIPPO KARAWACI TBK 61,8% 54,4% 59,8% PT SILOAM INTERNATIONAL HOSPITALS TBK PT LIPPO CIKARANG TBK PT GOWA MAKASSAR TOURISM DEVELOPMENT TBK 100% PT BOWSPRIT ASSET MANAGEMENT 01#4LARGEST & MOST INTEGRATED PROPERTY COMPANY COLIPPO PT LIPPO KARAWACI TBK Largest listed property Company by Revenue and Total Assets. Revenue and Total Assets for 9M'2016: USD 571 million and USD 3.5 billion, respectively. Fastest growing Indonesian real estate group market cap grew by more than 9x to USD 1.8 billion¹ since the merger of eight property related companies in 2004. Market leader in townships & residential property, hospitals, and retail malls. Integrated business model with ability to recycle capital, and largest diversified landbank throughout Indonesia. Only Property Company rated by three rating agencies (B+ by Standard & Poor's2, BB- by Fitch³, Ba3 by Moody's 4) Included in MSCI Global Standard Indices & major Indonesia Stock Exchange Indices: LQ45, IDX30, Jakarta Islamic Index, Bisnis-27, ISSI, Kompas-100, and Investor-33. Strong International Partners and Shareholders. Multi Award winning Developer. 1As of September 30, 2016 2Affirmed on October 24, 2016 3Affirmed on October 27, 2016 4Affirmed on October 18, 2016 02 80#5FOUR BUSINESS DIVISIONS DEVELOPMENT REVENUE RESIDENTIAL AND URBAN DEVELOPMENT Development rights: 8,087 ha Land already acquired: 4,943 ha HOSPITALS RECURRING REVENUE COMMERCIAL COLIPPO PT LIPPO KARAWACI TOK ASSET MANAGEMENT 23 hospitals with more than 5,100 beds capacity under the Siloam Hospitals network. Malls: Own and/or manage 44 malls (GFA of 3.2 million sqm) 43 hospitals in the pipeline 14 malls in the pipeline Manages 2 public listed REITs in SGX : First REIT & LMIRT USD2.2 billion Assets Under Management Hotels: Landbank Inventory: 1,328 ha Lippo Village : 26% Lippo Cikarang : 37% Tanjung Bunga: 22% San Diego Hills : 7% National and International (JCI) accreditation Own and/or manage 9 hotels with 1,970 rooms Town Management 03#6REVENUE & EBITDA CONTRIBUTION REVENUE 9M'16: Rp7,425 Trillion 32% 9% 7% 52% COLIPPO PT LIPPO KARAWACI TBK EBITDA 9M’16: Rp1,701 Trillion 41% 28% Source: Company as of 9M'2016 Residential & Urban Development Hospitals Commercial Asset Management 17% 14% 04#74.500 INCOME STATEMENTS: 9M'2016 AND 9M'2015 Rp bn 4.000 3.500 2.771 3.000 2.412 2.500 2.000 1.500 1.000 500 - Residential & Urban Development REVENUE 9M'16: RP 7,425 TRILLION REVENUE 9M'15: RP 6.759 TRILLION 3.824 3.013 538 440 Rp bn 1.200 1.056 1.000 800 702 600 400 651 535 200 COLIPPO PT LIPPO KARAWACI TBK EBITDA 9M'16: RP 1,701 TRILLION EBITDA 9M'15: RP 1,815 TRILLION 482 412 280 237 184 163 Healthcare - Commercial - Asset Management - Residential & - Healthcare Urban Development - Commercial - Asset Management Source: Company as of 9M'2016 NPAT 9M'16: RP 665 BILLION NPAT 9M'15: RP 66 BILLION 05 90#8MOST DIVERSIFIED LANDBANK AND PROJECTS COLIPPO PT LIPPO KARAWACI TEK INDONESIA Grand Palladium Medan Sun Plaza Plaza Medan Fair Lippo Plaza Medan Binjai Supermall Siloam Hospitals Medan Aryaduta Hotel Medan Aryaduta Hotel Pekanbaru SUMATRA Siloam Hospitals Samarinda Siloam Hospitals Balikpapan KALIMANTAN Aryaduta Hotel Manado Siloam Hospitals Manado Monaco Bay Holland Village Manado SULAWESI MALUKU Lippo Plaza Buton Siloam Hospitals Buton Tanjung Bunga Township Siloam Hospitals Makassar GTC Makassar Siloam Hospitals Jambi Lippo Plaza Jambi Palembang Square PSx Mall Siloam Hospitals Palembang Aryaduta Hotel Palembang Palembang Icon Mall St Moritz Panakukang Projects in Greater Jakarta Siloam in Greater Jakarta (8) Malang Town Square Bandung Indah Plaza JAVA Istana Plaza Aryaduta Hotel Bandung Siloam Hospitals Purwakarta Lippo Plaza Yogya Residential & Urban Development Hospitals Retail Malls Hotels City of Tomorrow, Surabaya Siloam Hospitals Surabaya Siloam Hospitals Labuan Bajo Lippo Plaza Kupang Siloam Hospitals Kupang Siloam Hospitals Nusa Dua, Kuta, Sunset (Bali) Lippo Plaza Sunset Lippo Mall Kuta PAPUA 06 90#9MOST DIVERSIFIED LANDBANK AND PROJECTS PROJECTS IN GREATER JAKARTA Jakarta Population : 12 million1 Greater Jakarta Population : 30 million¹ JAVA SEA Pluit Village COLIPPO N PT LIPPO KARAWACI TBK International Airport Soekarno Hatta Metropolis Town Square NORTH JAKARTA WEST JAKARTA St. Moritz Lippo Mall Puri PX Pavilion Gajah Mada Plaza CENTER OF Siloam Hospitals Kebon Jeruk Holland Village JAKARTA Aryaduta Hotel Jakarta Lippo Thamrin MRCCC Aryaduta Hotel Semanggi The Plaza Semanggi Lippo Village Township Benton Junction Millenium Village (LV new CBD) Siloam Hospitals Lippo Village Siloam General Hospitals Kemang Village Lippo Mall Kemang Embarcadero Bintaro SOUTH JAKARTA The Nine Residence Aryaduta Hotel & Country Club WTC Matahari Maxxbox Karawaci BANTEN PROVINCE Royal Serpong Village Siloam Hospitals TB Simatupang Siloam Hospitals Cinere Siloam Hospitals Asri Pejaten Village EAST JAKARTA Residential & Urban Development Hospitals Retail Malls Hotels Offices TOLL ROAD 1Indonesia Central Statistic Bureau Depok Town Square Park View Apartments| Grand Mall Bekasi Blu Plaza Bekasi Kramat Jati Indah Plaza Tamini Square Cibubur Junction Bellanova Country Mall Eka Lokasari Mall Puncak Resort San Diego Hills Memorial Park Lippo Cikarang Township Orange County (LC new CBD) Siloam Hospitals Lippo Cikarang Lippo Cikarang Mall Citywalk Cikarang Maxxbox Cikarang WEST JAVA PROVINCE 40 07#10MOST INTEGRATED BUSINESS MODEL IN INDONESIAN PROPERTY SECTOR DEVELOPERS Majority of Indonesian Developers Developer, Operator and REIT & Portfolio Managers Proven Experience & Track Record Prudent & Sustainable Financial Management Existing Landbank & Proactive Capitalizing on Group Synergies Land Acquisition Sophisticated Marketing REITS PROPERTY OPERATIONS Majority of Indonesian Developers Integrated Projects Across Property Value Chain Projects: • Residential • Industrial • Commercial Service: • Healthcare . Hospitality • Leased Mall Development Income Buyers: • Individual Corporate Recurring Income Middle income and upper market segment COLIPPO PT LIPPO KARAWACI TBK FIRST REIT ASIA'S PREMIER HEALTHCARE TRUST COLMIR TRUST LIPPO MALLS INDONESIA RETAIL TRUST Management DEVELOPMENT AND OPERATING CAPABILITIES ACROSS THE SPECTRUM OF REAL ESTATE PRODUCTS THIRD PARTIES 08 80#11HIGHLY EXPERIENCED & PROFESSIONAL MANAGEMENT BOARD OF COMMISSIONERS: COLIPPO BOARD OF DIRECTORS: PT LIPPO KARAWACI TBK Theo L. Sambuaga Chairman Surjadi Soedirja Agum Gumelar Vice Chairman Ketut Budi Wijaya President Director Tjokro Libianto Lee Heok Seng* Farid Harianto H. Sutiyoso Muladi SENIOR EXECUTIVES BUSINESS UNITS: Johanes Jany Jenny Kuistono Alwi Sjaaf Richard Setiadi* Chan Chee Meng* Romeo Lledo Toto Bartholomeus Edward Ng Anthony Ross * New appointees on 2016 AGM 99 09#12GROWTH STRATEGIES RESIDENTIAL AND URBAN DEVELOPMENT HOSPITALS COMMERCIAL COLIPPO PT LIPPO KARAWACI TBK ASSET MANAGEMENT Enhance value of our landbank through various new infrastructure development and high quality residential and commercial products. Continue to complete and deliver on project pipeline with due consideration of recent regulations in a more realistic launch schedule Continue to diversify into other types of property developments, i.e. office. Ramp up our marketing sales to capitalise on current opportunities and our industry leading position. Wider price range to capture broad market coverage Deliver as promised on our hospital expansion program whilst further enhancing our position as the leading hospital and healthcare group in Indonesia. Continue our operational and cost efficiency programs to shorten stabilisation periods of new hospitals. Set the benchmark for innovative medical packages that meet the needs of our growing middle class. Create new medical package to meet the needs of broad market segment for world class healthcare RETAIL MALLS Execute on planned pipeline developments Expedite the development of pipeline projects Fast track asset enhancement projects in existing malls. Enhance process and culture to create Indonesia's premier malls operator. HOTELS Increase market share and profitability of our existing hotel portfolio Entry into the middle market through launch of three star hotel chain Deliver a significant growth in scale in our REITs through our asset light strategy. Continue to grow our fee income contribution which strengthen our recurring revenue base. Increase Fee Income through management of Real Estate Investment Funds (DIRE) 10#13RESIDENTIAL & URBAN DEVELOPMENT LIPPO VILLAGE AT KARAWACI, JAKARTA WEST Development Rights 3,066 ha Land already acquired 1,184 ha Landbank inventory 283 ha Residential Houses Condos > 10,583 > 1,120 Shophouses > 1,193 Population > 59,405 Jobs 48,664 Total Area 132 ha Planned Development Total Towers Built Est. Building GFA Residential - Medical City Development Area 71 ha > 70 > 6 mn sqm > 2 mn sqm > 400,000 sqm - Commercial (Retail +Office) > 600,000 sqm COLIPPO PT LIPPO KARAWACI TBK Artist Impression Green Area 125 ha Development Period 3 Phase 113.5 km roads built, 59,572 trees planted, 21% green space - Mixed Use Lippo Hotels > 3 mn sqm > Five Star & Boutique Hotel Art District, Lippo World Expo, ZU Private Club, Lippo Grand Mall 11#14RESIDENTIAL & URBAN DEVELOPMENT LIPPO CIKARANG, JAKARTA EAST TO (MM2100) NECTION ROAD DELTA SILICON 1 269 HA LEGENDS: PARTNER WITH SUMITOMO EAST JAKARTA INDUSTRIAL PARK (ERP) 300 НА NEW DEVELOPMENT RANGE COUNTY TOLL GATE CIKARANG BARAT/CLEMAHABANG TOLL ROAD JAKARTA-CHAMPEN DIRECT ACCESS TOLL GATE KM 34-700 CBATU/UPO CIKARANG PARTNER WITH HYUNDAI KAS INTERNATIONAL INDUSTRIAL ESTATE (BITE) 300 HA DELTA SILICON 3 EXT 67 HA DELTA SILICON 2 128 HA LIPPO DSB DELTA SILICON CIKARANG 227 HA New DEVELOPMENT RESIDENTIAL COMMERCIAL ORANGE COUNTY DELTA SILICON 3 200 HA DELTA SILICON S 157 HA DELTA SILICON 6 77 HA TOLL GATE OKARANG PUSAT SOJITZ GREENLAND INTERNATIONAL INDUSTRIAL CENTER (GIIC) 1000 HA Glendale Park (505 units) Pasadena Suites (419 units) Burbank Suites (560 units) Westwood Suites (435 units) COLIPPO PT LIPPO KARAWACI TBK Irvine Suites (441 units) Development Rights 3,250 ha Land already acquired 2,821 ha Landbank inventory 490 ha Residential Population Houses > 14,000 > 50,720 Workers 484,300 Est. Building GFA Condos > 1,395 - Residential Shophouses > 1,216 Global Names: Total Area 280 ha Planned Development Total Towers Built Development Area 236 ha > 50 > 6 mn sqm > 1.8 mn sqm - Commercial (Office & Retail) > 520,000 sqm Artist Impression Open Area 44 ha Development Period 3 Phase Toyota Tsusho, Industrial No. of Factories > 990 Hankook, Danone, - Mixed Use Lippo Hotels > 3.7 mn sqm Epson, Sanyo, KIA Motors > Five Star & Boutique Hotel Siloam Hospitals, University, School, Lippo Mall, Offices 281 km roads built, and 93,850 trees planted, 12#15RESIDENTIAL & URBAN DEVELOPMENT TANJUNG BUNGA, MAKASSAR, SOUTH SULAWESI COLIPPO PT LIPPO KARAWACI TBK SAN DIEGO HILLS MEMORIAL PARK AND FUNERAL HOME Be 0000 Development Rights 1,500 ha Land already acquired 643 ha Landbank inventory 290 ha Master Plan 500 ha Land already acquired 125 ha Residential Houses Population > 6,509 > 14,343 Shophouses > 172 27 km roads built, and 8,659 trees planted, Jobs 12,945 Plot Sold 45,891 Landbank inventory 91 ha (+ 14 ha family center & lake} 13#16Kemang Village A LANDMARK PROJECT – SOUTH JAKARTA (FIRST LAUNCHED ON JULY 2007) THE TIFFANY THE COSMOPOLITAN THE RITZ THE BLOOMINGTON THE INTERCON THE INFINITY JW MARRIOTT HOTEL DEBENHAMS COLIPPO PT LIPPO KARAWACI TBK SOLD (AS OF 30 SEPTEMBER 2016) THE RITZ THE COSMOPOLITAN THE EMPIRE 98% Rp 438 bio 100% completion 97% Rp 388 bio 100% completion 97% Rp 340 bio 100% completion THE EMPIRE THE TIFFANY THE INFINITY THE INTERCON LIPPOMALL LIPPO MALL KEMANG International School 100% Rp 599 bio 100% completion 100% Rp 392 bio 100% completion 100% Rp 359 bio 100% completion THE BLOOMINGTON PAYMENT PROFILE 91% Rp 915 bio Cash Mortgage 30% 49% 12-36 Monthly Installment 21% Construction Progress as at 31 Dec 2013 100% completion 14#17THE St.Moritz COLIPPO PT LIPPO KARAWACI TBK Penthouses & Residences TOTAL LAND AREA: 11.4 Ha (FIRST LAUNCHED ON AUGUST 2008) PRESIDENTIAL SUITE (140 units) SOLD (AS OF 30 SEPTEMBER 2016) NEW PRESIDENTIAL SUITE (159 units) LIPPO MALL PURI AMBASSADOR SUITE (144 units) ROYAL SUITE (231 units) NEW ROYAL SUITE (197 units) PRESIDENTIAL SUITES AMBASSADOR SUITES ROYAL SUITES 96% Rp 449 bio 100% completion 97% Rp 356 bio 100% completion 98% Rp 367 bio 100% completion New AMBASSADOR SUITE (171 units) Hotel & Offices NEW PRESIDENTIAL SUITES NEW AMBASSADOR SUITES NEW ROYAL SUITES 85% Rp 584 bio 97% completion 90% Rp 512 bio 96% completion 99% Rp 367 bio 100% completion PAYMENT PROFILE Cash 28 % Mortgage 49 % Construction Progress as att 311 Dec 2014 12-36 Monthly Installment 23 % 15#18PIPELINE PROJECTS NEWPORT PARK ORANGE COUNTY, LIPPO CIKARANG Tentative Launch: Nov 2016 SGA : 28,933 sqm Land Area Total Units : 554 URBAN HOMES LIPPO VILLAGE COLIPPO PT LIPPO KARAWACI TBK Tentative Launch: Dec 2016 Total Units : 1.3 Ha 2,520 (2 towers) 16#19PRE-SOLD PROJECTS UNDER CONSTRUCTION (LAUNCHED IN 2011-2013) OFFICE TOWER AT THE ST. MORITZ WEST JAKARTA COLIPPO PT LIPPO KARAWACI TBK THE NINE RESIDENCE PARK VIEW APARTMENTS HOLLAND VILLAGE SOUTH JAKARTA CENTRAL JAKARTA DEPOK LIPPO THAMRIN CENTRAL JAKARTA HOLLAND 17#20PRE-SOLD PROJECTS UNDER CONSTRUCTION (LAUNCHED IN 2014) ST. MORITZ PANAKUKANG MAKASSAR The First and The Only World Class Mixed-Use In Makassar COLIPPO PT LIPPO KARAWACI TBK EMBARCADERO BINTARO WESTERN WING, TANGERANG OFFICE TOWER AT HOLLAND VILLAGE, JAKARTA HILLCREST+ FAIRVIEW LIPPO VILLAGE LIPPOMALL Holland Village HOLLAND VILLAGE SECOND PHASE CENTRAL JAKARTA EMBARCADERO BINTARO EASTERN WING, TANGERANG IRVINE + WESTWOOD LIPPO CIKARANG 18#21PRE-SOLD PROJECTS UNDER CONSTRUCTION (LAUNCHED IN 2015) COLIPPO PT LIPPO KARAWACI TBK PASADENA SUITES ORANGE COUNTY, LIPPO CIKARANG NORTH SULAWESI MONACO BAY MANADO, NORTH SULAWESI HOLLAND VILLAGE MANADO, BURBANK ORANGE COUNTY, LIPPO CIKARANG GLENDALE PARK ORANGE COUNTY, LIPPO CIKARANG Holland Village LIVING THE DREAM MANADO 19#22Siloam Hospitals Mature Hospitals FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST Siloam Hosp SILOAM HOSPITALS LIPPO VILLAGE TANGERANG (West of Jakarta) 308 Bed Capacity 274 Operational Beds 238 GP and Specialists 391 Nurses JCIA BPJS Kesehatan Backen Peperga Maminin Sosial Centre of Excellence: Cardiology, Neuroscience, Orthopedics & Emergency SILOAM HOSPITALS KEBON JERUK WEST JAKARTA 285 Bed Capacity 215 Operational Beds 208 GP and Specialists 326 Nurses Centre of Excellence Urology, Orthopaedic, Cardiology & Emergency JCIA BPJS Kesehatan Backen Pepeergawo Aminon Sosial SILOAM HOSPITALS SURABAYA EAST JAVA 162 Bed Capacity 160 Operational Beds 156 GP and Specialists 247 Nurses Centre of Excellence Fertility Treatment, Cardiology & Emergency BPJS Kesehatan Back Jaminan Sosial 79.61% Ownership FIRST *REIT FIRST REAL ESTATE INVESTMENT TRUST COLIPPO PT LIPPO KARAWACI TBK SILOAM HOSPITALS BALIKPAPAN EAST KALIMANTAN 232 Bed Capacity 165 Operational Bed 113 GP and Specialists 162 Nurses BPJS Kesehatan Backen Jaminan Sosial Centre of Excellence: Orthopedics & Emergency SILOAM HOSPITALS PURWAKARTA WEST JAVA 202 Bed Capacity 190 Operational Beds 56 GP and Specialists 180 Nurses Centre of Excellence: Emergency BPJS Kesehatan Badan Pen 20 20#23Siloam Hospitals Developing Hospitals FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST SILOAM HOSPITALS CIKARANG BEKASI (East of Jakarta) 114 Bed Capacity 108 Operational Beds 93 GP and Specialists 162 Nurses BPJS Kesehatan Badan Pergeleggaam S Centre of Excellence: Occupational Health & Emergency Siloam Hospitals SILOAM HOSPITALS JAMBI EAST SUMATERA 100 Bed Capacity 90 Operational Beds 66 GP and Specialists 125 Nurses Centre of Excellence Emergency BPJS Kesehatan Badan Penyelenggara Jam Sesil 83.0% Ownership MRCCC Siloam MRCCC SILOAM SEMANGGI SOUTH JAKARTA 334 Bed Capacity 155 Operational Beds 173 GP and Specialists 293 Nurses BPJS Kesehatan Badan Penyelenggara Centre of Excellence: Cancer, Liver & Emergency FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST COLIPPO PT LIPPO KARAWACI TBK SILOAM GENERAL HOSPITAL (RSUS) TANGERANG (West of Jakarta) 640 Bed Capacity 300 Operational Beds 52 GP and Specialists 228 Nurses Centre of Excellence: Emergency SILOAM HOSPITALS MANADO NORTH SULAWESI 238 Bed Capacity 177 Operational Beds 108 GP and Specialists 198 Nurses Centre of Excellence: Emergency BPJS Kesehatan Badan Penyelenggaro Jaminan Sesiel BPJS Kesehatan Badan Penyelenggaro Jaminan Sasil SILOAM HOSPITALS MAKASSAR SOUTH SULAWESI 362 Bed Capacity 215 Operational Beds 123 GP and Specialists 239 Nurses BPJS Kesehatan Badan Penn Jaminan Sesol Centre of Excellence: Cardiology, Endocrinology & Emergency 21 21#24Siloam Hospitals Developing Hospitals OLIPPO PT LIPPO KARAWACI TBK RS Soam Sriwijay SILOAM HOSPITALS PALEMBANG SOUTH SUMATERA 357 Bed Capacity 150 Operational Beds 136 GP and Specialists 171 Nurses Centre of Excellence Gastroenterology & Emergency SILOAM HOSPITALS MEDAN NORTH SUMATERA 356 Bed Capacity 75 Operational Beds 103 GP and Specialists 82 Nurses Centre of Excellence Emergency & Trauma FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST SILOAM HOSPITALS CINERE DEPOK (South of Jakarta) 50 Bed Capacity 37 Operational Beds 18 GP and Specialists 43 Nurses Centre of Excellence: Cardiology 80.0% Ownership Siloam SILOAM HOSPITALS KUPANG EAST NUSA TENGGARA 416 Bed Capacity 110 Operational Beds 56 GP and Specialists 151 Nurses Centre of Excellence Emergency FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST BPJS Kesehatan Backen Penggara Jaminan Sosial FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST SILOAM HOSPITALS TB SIMATUPANG SOUTH JAKARTA 269 Bed Capacity 100 Operational Beds 155 GP and Specialists 131 Nurses BPJS Kesehatan Badan Penyelers Jaminan Soal Centre of Excellence: Cardiology, Oncology, Neuroscience & Emergency 22 22#25Siloam Hospitals Distinct Market Segment Hospitals FIRST REIT FIRST REAL ESTATE INVESTMENT TRUST SILOAM HOSPITALS BALI BALI 281 Bed Capacity 110 Operational Beds 122 GP and Specialists 195 Nurses Centre of Excellence BPJS Kesehatan Badan Penyelenggaraan Sal Treatment for tourists, Orthopedics, Cardiology & Emergency SILOAM HOSPITALS ASRI SOUTH JAKARTA 40 Bed Capacity 40 Operational Beds 100 GP and Specialists 79 Nurses Centre of Excellence: Urology C HOSPITAL COLIPPO BIMC KUTA BALI 19 Bed Capacity 18 Operational Beds 51 GP and Specialists 64 Nurses Centre of Excellence: Treatment for tourists & Emergency AUSTRALIAN EMERGENCY BIMC NUSA DUA BALI 39 Bed Capacity 24 Operational Beds 57 GP and Specialists 65 Nurses ACHSI ANDARD Centre of Excellence : Cosmetic Surgery & Emergency ERNATION PT LIPPO KARAWACI TBK 23 3#26Siloam Hospitals New Hospitals SILOAM HOSPITALS LABUAN BAJO EAST NUSA TENGGARA 124 Bed Capacity 60 Operational Beds 20 GP and Specialists 64 Nurses Centre of Excellence: Emergency Siloam SILOAM HOSPITALS BUTON SOUTHEAST SULAWESI 140 Bed Capacity 30 Operational Beds 32 GP and Specialists 69 Nurses Centre of Excellence Emergency BPJS Kesehatan Badan Penyelenggara Jaminan Sosial Siloam OLIPPO PT LIPPO KARAWACI TBK SILOAM HOSPITALS SAMARINDA EAST KALIMANTAN 34 Bed Capacity 10 Operational Beds 34 GP and Specialists 18 Nurses Centre of Excellence: Emergency 24 24#27Siloam Hospitals Siloam Clinic CYBER PARK KARAWACI BPJS Kesehatan Badan Pemina Siloam Clinics COLIPPO FAÇADE RECEPTION GP's CONSULTATION ROOM MERTANADI BALI BPJS Kesehatan Badan Penggara Aminan Sosial SiloamClinic MSiloam Hospitals FAÇADE RECEPTION GP's CONSULTATION ROOM PT LIPPO KARAWACI TBK 25 25#28Siloam Hospitals Completed Hospital in Yogyakarta COLIPPO PT LIPPO KARAWACI TBK HIPPORUAZA FACADE MAIN LOBBY FRONT OFFICE OUT PATIENT DEPARTMENT 26 26#29Siloam Hospitals Completed Hospital in Bogor COLIPPO PT LIPPO KARAWACI TBK THE WEE FAÇADE MAIN LOBBY EMERGENCY DEPARTMENT OUT PATIENT DEPARTMENT 27 27#30Siloam Hospitals Completed Hospital in Blu Plaza Bekasi Siloam Hospitals Siloam 24 Jam UGD OTAK JANTUNG KECELAKAAN NARASAR A FAÇADE FRONT OFFICE da POLIKLINIK RAWAT JALAN LIPPO PT LIPPO KARAWACI TBK EMERGENCY OUT PATIENT DEPARTMENT 28 28#31Siloam Hospitals For Completion in 2017 BANJARMASIN BATU LIPPO MALL BEKASI GRAND MALL KALIMALANG LIPPO KUNINGAN MANADO KAIRAGI Siloam Hospitals Care and Compassion for the Nation Siloam Closer to You Mohon Doa Restu Di sini akan dibangun Siloam Medika Manado NINE RESIDENCE PALANGKARAYA LIPPO PT LIPPO KARAWACI TBK GUNUNG SAHARI PLUIT VILLAGE SEMARANG HOO SURABAYA CITO 29 29#32Siloam Hospitals For Completion in 2017 BANGKA BELITUNG JEMBER LUBUK LINGGAU SORONG 30 30 LIPPO PT LIPPO KARAWACI TBK#33Siloam Hospitals PROGRESS IN LICENSING In order to be able to fully commission a new hospital, we have to go through a licensing process involving local governments and provincial health departments. This process involves more than 40 licenses and can be summarized into 6 most critical licenses. OLIPPO PT LIPPO KARAWACI TBK Environmental License (AMDAL) Building Permit (IMB) Nuisance Permit (HO) Hospital Building Permit (IMRS) Certificate of Proper Building Function (SLF) Operational License (IO) Hospital AMDAL Yogyakarta Bekasi Blu Plaza Bogor Bangka Lubuk Linggau Jember Sorong Semarang Hoo Bekasi Grand Mall Banjarmasin Gunung Sahari As per 30 Sept 2016 Status of Major Projects for 2016 & 2017 IMB HO IMRS SLF 10 31#34COLIPPO PT LIPPO KARAWACI TBK LIPPO MALLS DOMINANT POSITION IN RETAIL DEVELOPMENT & PROPERTY MANAGEMENT MANAGES 44 MALLS THROUGHOUT INDONESIA ■ 3.2 million sqm GFA ■ As of September 30, 2016: Overall average occupancy 89% and 95% in LMIRT properties NEW MALLS IN THE PIPELINE: COLDSEYM RMIT PX Pavilion LIPPO MALL PURI PX PAVILLION LIPPOPLAZA GMATAHARI CINEMAXX JAMBI LIPPO PLAZA JAMBI PLAZA LIPPO PLAZA LUBUK LINGGAU LIPPO PLAZA PANGRANGO 32 32#35HOTEL ARYADUTA A Touch of Luxury MANAGES 9 HOTELS THROUGHOUT INDONESIA ■ As of September 30, 2016: Overall average occupancy 67% FIRST REIT ASIA'S PREMIER HEALTHCARE TRUST HOTEL ARYADUTA HOTEL ARYADUTA LIPPO VILAGE (192 rooms) JAKARTA (302 rooms) HOTEL ARYADUTA MEDAN (197 rooms) HOTEL ARYADUTA PEKANBARU (158 rooms) HOTELS UNDER ARYADUTA MANAGEMENT : HOTEL ARYADUTA SEMANGGI (274 rooms) COLIPPO PT LIPPO KARAWACI TBK FIRST REIT ASIA'S PREMIER HEALTHCARE TRUST HOTEL ARYADUTA MANADO (200 rooms) HOTEL ARYADUTA MAKASSAR (224 rooms) HOTEL ARYADUTA PALEMBANG (169 rooms) HOTEL ARYADUTA BANDUNG (254 rooms) 33#36ASSET MANAGEMENT UNIQUE FOR AN INDONESIAN PROPERTY COMPANY 100% 100% LIPPO PT LIPPO KARAWACI TBK 100% COLIPPO PT LIPPO KARAWACI TBK 100% BOWSPRIT CAPITAL CORPORATION LTD REIT MANAGER Management Fee - Base fee: 33.12% FIRST ☐ REIT ASIA'S PREMIER HEALTHCARE TRUST Code : FIRT 0.4% p.a. of the value of the Deposited Property. - Performance fee: 5.0% p.a. of the Net Property Income. - Investment & Divestment fee. LMIR TRUST MANAGEMENT LTD REIT MANAGER Management Fee - Base fee: 29.33% GLMIR TRUST LIPPO MALLS INDONESIA RETAIL TRUST Code: LMRT 0.25% p.a. of the value of the Deposited Property. - Performance fee: 4.0% p.a. of the Net Property Income. - Investment & Divestment fee. PT LIPPO MALLS INDONESIA PT ARYADUTA INTERNATIONAL MANAGEMENT MALL MANAGEMENT SERVICES Management Fee -2% p.a. of the gross revenue of the retail malls. - 2% p.a. of the Net Property Income of the retail malls. -0.5% p.a. of the retail malls in lieu of leasing commission. HOTEL OPERATOR Fees Fees consists of: - Management Fee: 2% of total Revenue - Incentive Fee: 1.5% of GOP As of 30 September 2016 IN SINGAPORE IN INDONESIA 34 ==#37FIRST REIT ASIA'S PREMIER HEALTHCARE TRUST Managed by Bowsprit Capital Corporation Limited, First REIT's portfolio consists of 17 properties located in Indonesia, Singapore and South Korea ■ Manages 12 Siloam Hospitals and 2 Aryaduta Hotels in Indonesia ■ As of September 30, 2016: Annualised DPU : SGD 8.47 cents Share Price (SGD) 1,600 1,400 1,200 1,060 1,060 1,000 0,800 0,600 0,400 0,200 COLIPPO Portfolio Size (SGD mn) 1.400 Dividend Yield (%) 1.268 7,2 1.260 7,1 1,355 1.172 1.200 1,255 1,200 1.052 1.000 7,0 6,8 6,8 6,9 797 800 600 400 200 PT LIPPO KARAWACI TBK 6,6 6,4 6,4 6,3 6,2 6,0 5,8 2012 2013 2014 2015 9M 2016 2012 2013 2014 2015 9M 2016 2012 2013 2014 2015 9M 2016 35#38BLMIR TRUST LIPPO MALLS INDONESIA RETAIL TRUST 0,6 0,5 MANAGES 19 RETAIL MALLS AND 7 RETAIL SPACES ■ As of September 30, 2016: Annualised DPU: SGD 2.54 cents Share Price (SGD) 0,49 0,42 0,4 0,3 0,2 2 0,1 Portfolio Size (SGD mn) 12,0 2.000 1.867 1.841 1.830 1.753 1.800 1.600 1.412 0,375 1.400 0,34 0,32 1.200 0 2012 2013 2014 2015 9M 2016 1.000 800 600 400 200 10,0 COLIPPO PT LIPPO KARAWACI TBK Dividend Yield (%) 8,1 7,83 8,0 6,0 6,0 4,0 40 2,0 9,7 8,9 00 0,0 2012 2013 2014 2015 9M 2016 2012 2013 2014 2015 9M 2016 36#39FINANCIAL PERFORMANCE COLIPPO PT LIPPO KARAWACI TBK#40BALANCE SHEET AS OF 31 DECEMBER (Unless otherwise stated) Rp Trillion TOTAL ASSET TOTAL LIABILITIES TOTAL EQUITY COLIPPO PT LIPPO KARAWACI TBK 30 Sept 2016 2015 2014 2013 2012 44.822 41.327 37.773 31.303 24.869 23.050 18.718 22.410 20.152 16.394 15.588 17.142 13.399 12.784 10.656 TOTAL DEBT 12.637 12.365 9.997 7.808 6.014 CASH AND CASH EQUIVALENTS 2.055 1.839 3.529 1.855 3.337 D/E RATIO (X)* 0.7 0.8 0.6 0.6 0.6 NET GEARING RATIO (X)* 0.6 0.6 0.4 0.5 0.3 Source Company as of 9M'2016 38 88#41DEBT MATURITY PROFILE USD million Debt Profile 450 83% 10% 400 7% 350 300 250 ■USD Bank Loans 200 ■IDR Bank Loans USD Bonds 150 * Coupon rate 7% pa POLIPPO PT LIPPO KARAWACI TEK Coupon rate 6.75% pa ** ** * 425 403 410 250 100 * Redemption of 2019 notes and 76.3 issuance of 2022 notes per Aug 2016 50 5.5 **Redemption of 2022 notes and 51.5 issuance of 2026 notes per Oct 2016 0 2016 2017 2019 2020 ICBC Bonds BCA : Rp 70 bn (USD 5.4mn) : Rp 1.6 bn (USD 0.1mn) 24 17.9 2022 2023 2026 Source: Bonds as of October 2016 BCA : Rp 2.7 bn (USD 0.2mn) BNI : Rp 270 bn (USD20.7mn) Mandiri Rp 70 bn (USD 5.4mn) UBS-DB: Rp 650bn (USD50 mn) BPD Kalimantan Timur : Rp 19.1 bn (USD 1.5mn) UBS-DB : Rp 650 bn (USD 50mn) CIMB Niaga Rp 312.3 bn (USD 24mn) J Trust Rp 232.9 bn (USD 17.9 mn) 39 99#42ATTRACTIVE ASSET VALUE URBAN DEVELOPMENT: Lippo Village Lippo Cikarang Tanjung Bunga San Diego Hills Micro Suburbs Ownership (%) Land Area (ha) Assets Value (Rp bn) 100 405 27.651 54,4 626 15.145 59,8 191 2.555 100 94 2.415 100 20 324 48.091 SUB TOTAL¹ 1) LARGE SCALE INTEGRATED DEVELOPMENT: City of Tomorrow (retail, apart, inv & hotel) 85 Kemang Village 92 58 735 2.132 St Moritz 100 11 7.038 11 New Projects 39 5.117 Others (land, retail space inv & other devt) SUB TOTAL¹) 100 2.492 17.513 RETAIL MALLS: 3 Malls Retail Space Inventory SUB TOTAL²) 100 100 1.887 714 HOTELS: 2 Hotels Hotels SUB TOTAL²) REIT Units ³) HOSPITALS³) COLIPPO PT LIPPO KARAWACI TBK FREIT 682 100 61,8 ESTIMATED TOTAL ASSET VALUE Add: Less: Cash 4) 1.675 2.357 6.224 7.359 84.145 2.055 2 - Malls 2.601 1 Appraised value as of 31 Dec 2015 by: - Rengganis Hamid & Partner (in stategic alliance with CB Richard Ellis) & - Ihot, Dollar & Raymond (an independent member of Baker Tilly International) Business Value: - 14.10% WACC - Hotels - 13.98% WACC 3 Market Cap as of 30 Sep 2016 4 Financial Statement as of 30 Sep 2016 5 Debt4) NAV/share (30 Sep 2016) = Rp 2,981 12.637 Less: Advances from Customers 4) 4.776 ESTIMATED NAV 5) 68.787 40#43PROPERTY MARKETING SALES (in Rp bn) Residential Low Rise High Rise Commercial POLIPPO PT LIPPO KARAWACI TBK FY 2014 9M 2015 FY 2015 9M 2016 Budget 2016 (R) 3.723 2.446 3.039 556 2.915 1.046 993 1.129 488 1.033 2.677 1.453 1.910 68 1.882 550 80 127 12 50 Industrial 734 276 279 68 276 Unique Product SDH 173 138 178 118 213 Retail Space Inventory 5 Total Property Sales 5.185 2.940 3.623 753 3.454 Assets sold to REITS 3.330 1.714 Total Marketing Sales 8.515 2.940 3.623 753 5.168 41#44APPENDICES COLIPPO PT LIPPO KARAWACI TBK#45LIPPO GROUP COLIPPO PT LIPPO KARAWACI TBK OD LIPPO An Indonesian Business Leader Growing in Stewardship – Impacting Lives REGIONAL PRESENCE IN CHINA, HONG KONG, SINGAPORE, PHILIPPINES, KOREA, MACAU INDONESIA PROPERTY PT Lippo Karawaci Tbk (LPKR.IJ) HOSPITALS PT Siloam International Hospitals Tbk (SILO.IJ) RETAIL PT Matahari Putra Prima Tbk (MPPA.IJ) PT Matahari Dept. Store Tbk (LPPF.IJ) PT. Solusi Ecommerce Global (Mataharimall.com) MEDIA PT First Media Tbk (KBLV.IJ) PT Berita Satu Media Holdings TECHNOLOGY PT Multipolar Technology Tbk (MLPT.IJ) PT Link Net Tbk (LINK.IJ) FINANCIAL SERVICES PT Lippo General Insurance Tbk (LPGI.IJ) PT Bank National Nobu Tbk (NOBU.IJ) EDUCATION Yayasan Pelita Harapan 43#46INDONESIA: ATTRACTIVE GROWING MARKET Economic Indicators POLIPPO PT LIPPO KARAWACI TBK 4th World Most Populous 250mm People 45mm members of the consuming class 2016 2017 2015 Assumption Assumption Young Population-Median Age of 29 Years Old Economic Growth (%) 4.8 5.2 5.1 Inflation Rate (%) 3.35 4.0 4.0 US$889bn 2014 GDP Japan China South Korro Exchange Rate (Rp/USD) 13,795 13,200 13,300 16th largest economy in the world India 7 Day RR (%) 7.5 5.25 5.3 5.3% GOP Growth (2016-2020) Oil Price (USD/bbl) 50 40 45 Investment Grade i om Fitch (BBB-) and Moody's (Baa3) Top Investment Destination 13,667 and #1 by AmCham ASEAN #2 JBIC and The Economist 99,000km Contine Oil Lifting (k bbl/day) 779 820 815 Indonesia Source: Bank of Indonesia, Statistics Indonesia, World Bank MIDDLE & AFFLUENT POPULATION IN ASIAN COUNTRIES (in millions) Indonesia Stable as TOP 5 destinations 2014-2106 Figure 13. Almost no change from the past TNCs top prospective host economies, 2014-2016 (Percentage of respondents selecting economy as a top destination) 5.8 Myanmar Bangladesh Vietnam 8.5 11.7 19.3 Y2015 Y2020 SOURCE: BCG 18.7 32.7 33.2 Philippines 45.4 38.9 Thailand 49.4 96.7 Indonesia 140.9 11 15 7 12 21 34 33 42 59 72 48 53 Middle & affluent class as a share of population (%) Source: Indonesia Investment Coordinating Board, BCG, UNCTAD 1 China (1) 2 United States (2 3 Indonesia (4) 4 India (3 5 Brazil (5) 23 6 Germany (6) 20 7 United Kingdom (9) & Thailand (6) 14 14 9 Met Nam (11) 12 10 Russian Federation (11) 10 Australla (13) 10 10 12 France (16) 13 Poland (14) B 13 Mexico M 15 Malaysia (16) [8 15 Japan (10) 8 17 Singapore (22) T 10 20 Source: UNCTAD survey. 27 Developed economies 44 Developing and transition economies 30 40 50 44#47INDONESIA PROPERTY SECTOR HAS ROOM TO GROW COLIPPO PT LIPPO KARAWACI TBK ☐ Rapid urbanisation ☐ Growing middle-class ASIA PACIFIC PROPERTY Price (USD/SQM) ■ Strong savings and income growth Hongkong 22.814 Low mortgage penetration Singapore 15.251 ☐ Property as investment India ☐ Improving regulatory environment Japan 11.455 10.784 ☐ ■ Banking innovation Taiwan 7.112 ☐ Property prices cheapest in the region Thailand 3.952 - Highest yields in the region Phillipines 3.156 Cambodia 2.913 Indonesia 2.766 Rental Yield (%) Malaysia 2.616 Phillipines 7,51 Price per SQM/ GDP per Capita Indonesia 7,05 India 758,61 Cambodia Thailand Japan 5,33 Cambodia 283,37 5,13 Phillipines 113,08 5,02 Indonesia 78,8 Malaysia 4,57 Thailand 69,63 Singapore 2,83 Hongkong 60,11 Hongkong 2,82 Taiwan 33,99 India 2,22 Japan 28,03 Taiwan 1,57 Singapore 27,64 Malaysia 25,02 Source: Global Property Guide 45#48PROPERTY FOREIGN OWNERSHIP LAND TITLES AVAILABLE: 1. Freehold 2. Right to Build (renewable leasehold) : COLIPPO PT LIPPO KARAWACI TBK : may be held by Indonesian citizens only (not even by fully Indonesian-owned companies). may be held by Indonesian citizens and any company established in Indonesia for an initial 30 years. 3. Right to Use (renewable leasehold) OPTIONS FOR FOREIGN OWNERSHIP: may be held by Indonesian citizens, any company and foreigner residence in Indonesia for an initial 30 years, extendable for another 20 years and renewable for another 30 years 1. Foreign residence in Indonesia can purchase property in own name under Right to Use title under Government Regulation no 103/2015 dated on 22 December 2015 and further reinforced by The Ministry of Agricultural and Spatial Planning /National Land Agency Regulation no 29/2016 dated on 19 Sept 2016 for certain minimum property value, which in Jakarta Province, a minimum Rp 10 bn for landed house and Rp 3 bn for condominium and subsequently much lower value for other areas. 2. Establish a company with approval for full or part foreign ownership (PMA company) to own the property. 23 3. Through Indonesian nominees, establish a locally owned company. 4. Use an Indonesian professional third party corporate nominee. 5. Private unregistered lease. 6. Establish a person to person arrangement with an Indonesian private individual who will personally own the property. 46#49NEW BI REGULATION New LTV Regulation takes effect in Aug 2016: Property Type First Mortage Second Mortgage Third Mortgage Old New Old New Old New Landed House Land > 70 sqm 80% 85% 70% 80% 60% 75% Land 22-70 sqm 80% 85% 70% 80% Apartment Area > 70 sqm 80% 85% 70% 80% 60% 75% Area 22-70 sqm 90% 90% 80% 85% 70% 80% Area < 21 sqm 80% 85% 70% 80% Shophouse - 80% 85% 70% 80% COLIPPO PT LIPPO KARAWACI TBK Mortgage disbursement scheme for unbuilt properties: (applies to 1st and 2nd mortgage) Stages of disbursement Old New Signing of Mortgage 0% 0% Completion of Foundation. 50% 40% Topping Off 30% 40% Hand-over 10% 10% Change of Title 10% 10% 47#50OVERVIEW OF JAKARTA'S CONDOMINIUM MARKET COLIPPO PT LIPPO KARAWACI TBK Around 4,100 units sold in the year-to-date 18,000 16,000 14,000 12,000 10,000 8,000 Units 6,000 4,000 2,000 Strong demand for all market segments as the market recovered Impact of GFC felt strongest in 2009 Average annual sales: 8,600 units Weakening Average sales rate has fallen steadily in recent quarters but remains healthy compared to many other markets. 82% in 3Q15 Vs 70% in 3Q16 demand 45,000 100% 40,000 35,000 Average sales rate: 70% 80% 30,000 60% 25,000 • 20,000 40% 15,000 10,000 20% 5,000 0 0% Lower Middle Grade Middle Grade Upper Grade Proposed Total Sold Sales Rate 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 - Ytd Prices remain largely flat amidst relatively weak demand IDR per sq m 60,000,000 55,000,000 50,000,000 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 In periods of weaker demand, primary market prices are unlikely to fall Strong post-GFC demand translated into healthy price growth in most market segments 3011 2011 1011 4Q10 3Q10 2Q10 1010 4Q09 3009 2009 1Q09 Lower middle 4011 3Q12 2012 1012 Middle 4013 3013 2013 1013 4Q12 Upper High-end 3016 2016 1Q16 4015 3015 2015 1015 4014 3Q14 2014 1014 -Luxury Existing Supply: + 119,000 units Sales Rate: 98% Jakarta Condominium Market Future Supply: + 68,000 units Sold Units Sold Units Sales Rate: 70% Source Q3'2016 Market Review for Jakarta Jones Lang LaSalle Research 48#51OVERVIEW OF JAKARTA'S RETAIL MARKET COLIPPO Demand remains supply constrained and net absorption continues to be supply driven Lower levels of net absorption the new normal due to supply constraints 90% occupancy rate in 3Q16; healthy occupancy levels expected to persist 300,000 250,000 300,000 200,000 250,000 150,000 Average annual net 200,000 absorption: 150,000 sqm 100.000 150,000 Average annual net absorption: 100,000 57,000 sqm 50,000 50,000 0 Average annual rental growth of between 5 and 6% likely for prime shopping malls 800,000 700,000 800,000 500,000 400,000 IDR per sqm per month 300,000 200,000 100,000 0 4Q08 1009 2016- PT LIPPO KARAWACI TBK 100% 95% 90% 85% 80% 75% Occupancy 70% 85% 0 60% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2018 2017 2018 2019 2020 New Supply Net absorption ⚫Occupancy rate Similar situation expected over Historical annual average growth the forecast horizon Existing Supply: 2.84 million sqm rate: 6% 4011 3011 2011 1011 4Q10 3Q10 2010 1010 4009 4009 3009 2009 1Q12 2012 4012 3012 1Q13 End-2016 3016 2016 1016 4Q15 3015 2015 1015 4014 3014 2014 1014 4013 3013 2013 -Upper -Middle Middle Low End-2017 End-2018 End-2019 Occupancy: 90% Gross Rent: IDR 602,225 per sqm per month Jakarta Retail Market in 3Q16 Base Rent: IDR 489,101 per sqm per month Source Q3'2016 Market Review for Jakarta Jones Lang LaSalle Research Future Supply: ± 0.14 million sqm Service Charge: IDR113,124 per sqm per month 49 End-2020#52IDR per sqm per month OLIPPO OVERVIEW OF JAKARTA'S OFFICE MARKET - CBD AREA PT LIPPO KARAWACI TBK Year-to-date net absorption of around 50,000 sqm exceeds full year 2014 and 2015 figures Year-to-date new supply of more than 400,000 sqm already a record as occupancy falls further 450,000 400,000 350,000 300,000 250,000 Annual average: 200,000 sqm 200,000 150,000 100,000 50,000 2006 Grade A rents continue trending downwards with a fall of 2.5% q-o-q 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 4010-1015: CBD Grade A 283% 2016-30 1Q06 2006 3Q06 4006 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2010 3Q10 4010 1Q11 2Q11 3Q11 4Q11 1Q12 2012 3Q12 4012 1Q13 2013 3Q13 4013 1Q14 2014 3Q14 4Q14 1015 2015 3015 4015 1Q16 2016 -Grade A -Grade B -Grade C -Grade Premium 3Q16 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 20 Net Absorption New Supply Occupancy 2016-y-t-d 100% 95% 90% 85% 80% 75% 70% 65% 60% Occupancy Existing Supply: 5.3 million sqm Gross Rent: IDR 297,729 per sqm per month Occupancy: 84% CBD Office Market in 3Q16 Future Supply: ± 1.77 million sqm Service Charge: IDR 86,770 per Base Rent: IDR 210,959 per sqm per month sqm per month Source Q3' 2016 Market Review for Jakarta Jones Lang LaSalle Research 50 50#53100% COLIPPO PT LIPPO KARAWACI TBK OVERVIEW OF JAKARTA'S OFFICE MARKET – non CBD AREA - Year-to-date net absorption recorded at just over 71,000 sqm 225,000 200,000 175,000 150,000 Sqm Annual average: 95,500 sqm 100,000 125,000 75,000 50,000 25,000 New supply continues to put downward pressure on occupancy which fell to 79% by quarter-end 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016-y-t-d Occupancy 390,000 360,000 330,000 300,000 270,000 240,000 210,000 180,000 150,000 120,000 90,000 60,000 30,000 Jah 95% 90% 85% 80% 75% 70% 65% 60% 20 New Supply Net Take-up Occupancy Supply pressure and relatively low occupancy levels cause TB Simatupang rents to fall (-4% q-o-q) Occupancy: 79% 200,000 175,000 Existing Supply: 2.4 million sqm Future Supply: ± 0.64 million sqm 150,000 DR per sqm per month 125,000 Non-CBD Office Market in 3Q16 100,000 75,000 50,000 Gross Rent: IDR 181,756 per sqm per month 25,000 0 Base Rent: IDR 117,255 per sqm per month Service Charge: IDR 64,501 per sqm per month Central Jakarta 2013 1Q13 11012 £ 4Q12 3Q12 2012 1012 4Q11 3Q11 2011 2011 South Jakarta -North Jakarta 1014 4Q13 3Q13 -East Jakarta 2014 1Q15 2016 1Q16 3Q15 4015 West Jakarta TB Simatupang 3Q16 Source Q3 '2016 Market Review for Jakarta Jones Lang LaSalle Research 51 555#54Indonesia - Severely Underserved Healthcare Market Beds and Doctors COLIPPO PT LIPPO KARAWACI TBK Doctors OECD Average = 4.93 /1,000 population 3,00 Beds /1,000 population 3,50 3,00- 238,373 beds v. Global: Shortage of 229,491 beds (1) v. OECD: Shortage of 977,189 beds (1) Global Average = 3.0 2,50 2,00 Lack of 1,50 Beds... 1,02 0,97 1,00 0,50 1,63 2,16 2,01 2,95 - 2,84 2,84 2,50 70,655 doctors OECD Average = 3.14 v. Global: Shortage of 267,000 doctors(1) v. OECD: Shortage of 718,086 doctors (1) 2,00 and Qualified 1,50 Global Average = 1.4 1,26 Doctors... 1,00 0,74 0,50 0,30 0,31 1,48 1,77 2,31 2,79 0,00 0,00 (2) (2) Indo India MY TH SG UK US China TH Indo India MY China SG US UK Indonesia's bed to population ratio way below global average Ample opportunity for private healthcare operators to fill the supply gap Doctor to population ratio also way below global average Ability to attract and retain doctors and specialists • is a critical success factor for hospitals 52 52#55INDONESIA HEALTHCARE LANDSCAPE Population Growth TTT Now = 240 Million Universal Coverage 58% Coverage Now 140 Million PUSKE Primary Care Accessibility + SMAS PUSKESMAS = 2040 360 Million Now = 8,300 Health Spend 100% Coverage = 2017 264 Million Changing Disease Pattern Morbidity 55% 45% USD 20 Bn COLIPPO ++ PUSKESMAS PUSKESMAS 2040 12,000 $$$$$$$$ USD 640 Bn Now = 2.5% of GDP (USD 800 Bn) 2040 = 8% of GDP (USD 8Tr) Per Capita Spend 35% 65% USD 82 1st 10 Years 60% Succeeding 20 Years 40% USD 1,780 Now Infection Life-Style 2017 Now PT LIPPO KARAWACI TBK 2040 53#56MARKET DRIVERS & RESTRAINTS IN INDONESIA'S HEALTHCARE SECTOR MARKET DRIVERS A large population base with a booming economy, emerging middle class and rising affluent Shortage of healthcare professionals Longer life expectancy and a population pyramid increasing towards the older population The epidemiological transition has presented Indonesia's healthcare sector with a double burden Quality of healthcare professional education 티타 Lost of domestic Universal health insurance coverage would give more people access to healthcare spending in Indonesia due to high level of outbound services medical tourism 2010 2015 2010 OLIPPO PT LIPPO KARAWACI TBK. 2015 MARKET RESTRAINTS ©2012 KPMG Services Pte. Ltd (Registration No. 200003956 G), a Singapore incorporated company & a member firm of the KPMG network of indpendent member firms affiliated with KPMG international cooperative ("KPMG International"), a Swiss entity. All rights reserved. 54#57HOSPITALS IN INDONESIA No COLIPPO PT LIPPO KARAWACI TBK OWNER 31 Dec 10 31 Dec 11 31 Dec 12 31 Dec 13 31 Dec 14 31 Dec 15 30 Sep 16 1 MOH 2 PROVINCE 1560 31 32 85 85 88 32 33 34 36 36 33 89 96 98 113 119 GOVERNMENT 3 MUNICIPAL 63 63 90 86 88 88 92 93 93 98 97 GOVERNMENT 4 DISTRICT GOVERNMENT 403 411 444 455 463 469 477 5 ARMY/POLICE 131 134 155 159 170 170 167 6 OTHER MINISTRIES / 79 80 79 79 79 79 75 PUBLIC COMPANIES 7 PRIVATE TOTAL 840 893 1,179 1,314 1,472 1,525 1,612 1,632 1,721 2,066 2,228 2,409 2,490 2,580 Source: Ministry of Health 55 59#58COMPARISON HEALTH STATISTICS COLIPPO PT LIPPO KARAWACI TBK Indonesia Vietnam Malaysia Singapore South Korea India China Australia USA UK Hospital beds per 10,000 pops 20 19 20 103 7 38 39 29 29 Physician per10,000 pops 2 12 12 20 21 7 15 33 25 28 Health Profesionals per 10,000 pops 16 24 45 77 72 24 32 139 123 116 Life expectancy at birth (years) 69 76 75 83 82 68 76 83 79 81 IMR per 1,000 live birth 14 11 1 28 6 2 4 MMR per 100,000 live birth 126 54 40 10 11 174 27 14 9 % Government Expenditure 39 42 % Private Expenditure 61 58 Healthcare Spend as % of GDP 3 26 55 40 53 32 56 67 47 84 45 60 47 68 44 33 53 16 5 7 4 9 17 9 Per capita total expenditure on healthcare (USD) 293 308 938 3.578 2.398 215 646 4.191 9.146 3.311 Physicians per 10,000 pops Total Healthcare Spending as % of GDP Australia UK USA 32,7 USA 28,1 Australia 9,4 24,5 UK 9,1 South Korea Singapore China Malaysia 21,4 South Korea 7,2 19,5 Vietnam 6,0 14,9 China 5,6 12,0 Singapore 4,6 Vietnam 11,9 Malaysia 4,0 India 7,0 India 4,0 Indonesia 2,0 Indonesia 3,1 Source: World Bank, WHO 2016 56 99 17,1#59LIPPO KARAWACI'S MILESTONES Corporate Actions June Initial Public Offering of 30.8 mn shares February 1st Rights Issue of 607.8 mn shares at Rp 500/share, issued & listed on the JSX & SSX August Stock Split 1 for 2 March USD 250 mn bonds issuance, at the rate of 8.875% p.a. issue price 100%, due 2011 November LMIRT was listed in SGX, sponsored by the Company November Total 1,055 mn warrants are fully exercised, generating total cash of Rp 923 bn December 3rd Rights Issue of 4.32 bn new shares at Rp 550/share, May USD 270 mn bonds issuance, at the rate of 9% p.a. Issue price 100%, due 2015 May Non Pre- emptive Rights Issuance of 1.45 bn new shares at October Rp 660/share, USD 100 mn bonds issuance, at the rate of 7% p.a. offered at 105.25%, due 2019 March May USD 125 mn bonds issuance, at the rate of 9% p.a. offered at 108%, due 2015 USD 150 mn bonds issuance, at the rate of 7% p.a. offered at 99.32%, due 2019 COLIPPO PT LIPPO KARAWACI TBK March LPKR placed 82.5 mn SILO shares or 7.1% of total shares outstanding for total proceed of Rp 858bn April USD150 mn bonds issuance, at the rate of 7% p.a. offered at par due 2022 February LPKR placed 92.8 mn SILO shares or 8% of total shares outstanding for total proceed of Rp 1.14 trillion 1996 1998 2005 2006 2007 2010 2011 2012 2013 2014 2015 2016 January 2nd Rights Issue of 881.9 mn new shares at Rp 1,050/share December The listing of First REIT on the SGX, offering 271.4 mn units at price of SGD 0.71/unit December Stock Split 1 for 2.5 November USD273.3 mn Debt Exchange at the rate of 6.125% p.a. due 2020 January USD 130 mn bonds issuance, at the rate of 6.125% p.a. offered at 104.4%, due 2020 September SILO successfully listed in IDX at Rp 9000/share, valuing Siloam at USD 1 billion August USD260 mn bonds issuance, at the rate of 7% p.a. offered at 103.75% due 2022, to redeem 2019 bonds August Rp 2.2 tn equity deal of which CVC invested 15% stake in SILO and participated in SILO right issue October USD425 mn bonds issuance, at the rate of 6.75% p.a. due 2026, to redeem 2020 bonds 57 57#60LIPPO KARAWACI'S MILESTONES Corporate Developments July August January Started Lippo Village June property- related October Township companies, Started in Established October Tanjung Property, under the Bunga Healthcare & name Started Township Hospitality PT Tunggal Lippo business Reksakencana Cikarang Township COLIPPO PT LIPPO KARAWACI TBK July Merger of 8 Launched Kemang Village, a large scale integrated dev't. in South Jakarta January Launched San Diego Hills Memorial Park Opened Px Pavilion at St Moritz, as part of integrated development in West Jakarta January The Company formalised its 6 BU Urban Devt, Large Scale Integrated, Healthcare, Retail Malls, Hospitality & Infras, and Property & Portfolio Mgmt. January Launched St Moritz Panakukang, an integrated development in the city center of Makassar March Launched Embarcedero, an integrated development in Bintaro, South Jakarta May Launched Holland Village Office Tower in Central Jakarta August Launched Hillcrest House and Faiview Tower as part of Millenium Village (new CBD in LV) October Launched Holland Village Second Phase 190 condo Units in Central Jakarta November Launched Embarcadero Eastern Wing, 156 condo units in South Jakarta November Launched Irvine Suites as part of Orange County, a new CBD in Lippo Cikarang 1990 1993 1997 2004 2007 2009 2014 2002 2005 2008 2012 2013 2015 September Launched its first retail strata-titled project, and followed by 7 others September August Launched City of Tomorrow (CITO), its first large scale integrated development in Surabaya Launched The St. Moritz, a large scale integrated development in West Jakarta December Opening of Pejaten Village, its first leased mall, in South Jakarta August May Launched Nine Residence, a large scale integrated development in North Kemang Jakarta Launched Holland Village, a large scale integrated development in Central Jakarta October Launched Lippo Thamrin, an Office Tower in CBD Jakarta March Launched Pasadena 3rd tower in Orange County, a new CBD in Lippo Cikarang May Launched Monaco Bay the first integrated development in Manado, North Sulawesi June Launched Holland Village Manado the landed house development in Manado, North Sulawesi June Sold Burbank, 4th tower in Orange County to single Japanese investor December Launched Glendale Park, fifth tower in Orange County 58#61LATEST AWARDS IIED - PT Lippo Karawaci The Public Lated Companies Forbes Tijela Aword Forbes BEST BEST MARD SERTIFIKAT PENGHARGAAN PT Lippo Karawaci Th AINSTITUTE Ф OLIPPO PT LIPPO KARAWACI TBK Lippo Karawaci received Top 50 Public Listed Companies for implementing Good Corporate Governance (from Indonesian Institute for Corporate Directorship) Lippo Cikarang received Trifecta Award 2016 for winning three years in a row (from Forbes Magazine) Lippo Ckarang received Top 50 Best of the Best Indonesian Company Award 2016 (from Forbes Magazine) Lippo Karawaci received Two Indonesia Property Award 2016 for St Moritz Makassar and Embarcadero Park (from Hans Grohe and Properti Guru Group) Lippo Karawaci received Award for Top 40 Public Listed Companies selected by Analysts in 2016 (from Association of Indonesian Securities Analyst and CSA Institute) Lippo Karawaci received Property Indonesia Award 2016 for the category The Biggest Revenue in Property Industry (from Properti Indonesia Magazine) date LOA 2016 K Highly Commended Mixed-use Development Indonesia Kamang ge MAIR wards Lippo Cikarang received Property Indonesia Award 2016 for the category The Well Integrated Industrial Estate (from Properti Indonesia Magazine) Lippo Cikarang received two Nusantara CSR Award 2016 from the La Tofi School of CSR under the programs free medical healthcare and mini nursery and planted 1000 trees Lippo Cikarang received Indonesia Green Awards 2016 from the La Tofi School of CSR in the category of Water Retention Lippo Karawaci received Highly Commended 2016 Asia Pacific Property Award For Kemang Village, Embarcadero, Bloomington at Kemang Village and Monaco Bay (from Intl Property Media Ltd) Lippo Karawaci received Company of The Year for Leadership Property Development in Indonesia 2016 (from IAIR Real Estate Magazine) Lippo Karawaci received two awards: Indonesia in Growth Property Development and Property Developer for the Year 2015 (from Frost & Sullivan) 59 59#62COLIPPO PT LIPPO KARAWACI TBK Closing Price (Rp) - - 1.800 1.700 1.600 SHARE PRICE PERFORMANCE Volume (Shares) - 1.000.000.000 900.000.000 1.500 1.400 1.300 1.200 1.100 1.000 900 800 700 600 500 400 800.000.000 700.000.000 600.000.000 500.000.000 400.000.000 300.000.000 200.000.000 300 200 100.000.000 100 Jan- Jun- Jan- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- 06 06 07 07 07 08 08 09 09 10 10 11 11 12 12 13 13 14 14 15 15 16 (LPKR.JK; LPKR IJ) Average Daily Trading Value Oct' 15 - Sep 16 (in USD) 8.000.000 7.000.000 6.000.000 5.000.000 4.000.000 3.000.000 2.000.000 1.000.000 ااااا 1.758 Market Cap as of 30 Sep 2016 in Comparison with Peers (in USDmn) 3.258 2.501 1.948 1.887 698 454 Oct Nov Dec Jan 15 15 Feb Mar Apr May Jun Jul Aug Sep ༔ 15 16 16 16 16 16 16 16 16 16 Lippo Karawaci Bumi Serpong Pakuwon Jati Summarecon Damai Agung Ciputra Development Alam Sutra Source: Indonesia Stock Exchange Agung Podomoro 60#63TOP 25 LISTED COMPANIES BY TRADING VALUE COLIPPO PT LIPPO KARAWACI TBK INDONESIA STOCK EXCHANGE IDX QUARTERLY STATISTICS, 3rd QUARTER 2016 (Cumulative Data) 20 25 Most Active Stocks by Trading Value No. Listed Stocks Volume Total Trading Value (Rp) Trading % Freq. (X) Days 1, Telekomunikasi Indonesia (Persero) Tbk. [S] 2, Astra International Tbk. [S] 23.837.805.937 9.663.858.095 88.750.692.360.338 7,49 1.284.625 183 68.702.311.229.677 5,80 860.739 183 3, Bank Rakyat Indonesia (Persero) Tbk. 5.948.832.535 66.088.937.030.434 5,58 962.369 183 4, Bank Central Asia Tbk. 4.656.534.781 64.265.610.599.074 5,42 750.215 183 5, Bank Mandiri (Persero) Tbk. 6.186.292.010 62.092.226.382.997 5,24 818.321 183 6, Bank Negara Indonesia (Persero) Tbk. 6.578.740.831 7, Hanson International Tbk. 75.958.083.101 33.799.366.432.862 30.528.277.621.892 2,85 752.202 183 2,58 369.712 183 8, Perusahaan Gas Negara (Persero) Tbk. [S] 10.592.023.001 29.151.631.053.183 2,46 913.935 183 9, Matahari Department Store Tbk. [S] 1.510.623.403 27.776.620.926.266 2,34 688.238 183 10, Gudang Garam Tbk. 327.256.168 21.360.140.781.110 1,80 572.715 183 11, Saw it Sumbermas Sarana Tbk. [S] 12, 13, Semen Indonesia (Persero) Tbk. [S] 11.060.054.163 1.999.657.174 20.195.196.656.049 1,70 746.636 183 20.184.658.426.203 1,70 588.293 183 Unilever Indonesia Tbk. [S] 451.067.602 19.382.975.745.697 1,64 539.988 183 14, Waskita Karya (Persero) Tbk. [S] 15, HM Sampoerna Tbk. 16, Indofood Sukses Makmur Tbk. [S] 7.989.203.572 1.932.183.568 2.325.834.080 18.739.373.284.567 1,58 632.916 183 18.614.154.647.170 1,57 477.147 183 17.239.911.896.472 1,45 467.846 183 17, Indocement Tunggal Prakarsa Tbk. [S] 18, Aneka Tambang (Persero) Tbk. [S] 912.465.928 26.279.480.909 16.023.968.462.632 1,35 405.206 183 15.834.709.577.118 1,34 666.136 183 19, United Tractors Tbk. [S] 20, Bumi Serpong Damai Tbk. [S] 21, Kalbe Farma Tbk. [S] 975.647.752 8.071.322.057 10.141.993.149 15.713.260.966.455 1,33 589.054 183 15.561.256.298.227 1,31 484.332 183 14.673.488.231.497 1,24 749.470 183 22, Lippo Karawaci Tbk. [S] 13.634.864.540 14.262.087.596.223 1,20 665.907 183 23, Adhi Karya (Persero) Tbk. [S] 4.740.318.600 12.477.969.532.643 1,05 461.312 183 24, PP Properti Tbk. [S] 24.402.191.671 11.086.067.073.432 0,94 496.339 183 25, Sugih Energy Tbk. 33.283.917.560 10.687.495.688.791 0,90 93.645 183 Source: IDX 61#64INVESTOR RELATIONS Mark Wong (Executive Director) email :[email protected] Address: Menara Matahari, 22nd Floor 7 Boulevard Palem Raya Lippo Village Tangerang 15811 Banten Indonesia - telp.+62 21 25669000 fax. +62 21 25669098 website: www.lippokarawaci.co.id COLIPPO PT LIPPO KARAWACI TBK 62#65DISCLAIMER COLIPPO PT LIPPO KARAWACI TBK This presentation has been prepared by PT Lippo Karawaci Tbk ("LPKR") and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of LPKR. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. LPKR disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this presentation and neither LPKR nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this presentation and any inaccuracy herein or omission here from which might otherwise arise. Forward-Looking Statements The information communicated in this presentation contains certain statements that are or may be forward looking. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this presentation. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for LPKR's developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; LPKR's ability to be and remain competitive; LPKR's financial condition, business strategy as well as the plans and objectives of LPKR's management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although LPKR believes that the expectations of its management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and LPKR undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.