#1Bakrie Sumatera Plantations Public Expose as of 30 September 2020 Jakarta, 23 December 2020#2Today's Agenda • Quick History 1911-2020 . • Shareholders & Management • Assets • Performance • Going Forward PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 2#3History & Milestones 1911 1957 1965 1985 1986 1990 1992 1997 2003 2004 2005 2007 Established as Naamlooze Vennootschap Hollandsch Amerikaansche Plantage Maatschappij, a rubber plantation and processing company Renamed as PT United States Rubber Sumatra Plantations (USRSP) following the acquisition by Uniroyal Inc USRSP was nationalized by the Indonesian Government Changed its name to PT Uniroyal Sumatra Plantations (UNSP) PT Bakrie & Brothers acquired 75% of UNSP shares. Renamed as PT United Sumatra Plantations IPO on the Jakarta Stock Exchange with a nominal price of IDR 1,000 per share Renamed as PT Bakrie Sumatera Plantations (BSP), and entered the palm oil business Conducted a 2:1 stock split and changed the share's nominal price to IDR 500 per share. In compliance with the Law on Limited Company, the name was altered as PT Bakrie Sumatera Plantations Tbk ("BSP" or "UNSP") Obtained ISO 9001 Quality Management System Certification for North Sumatera Unit (PT BSP) Conducted a 5:1 stock split and changed the share's nominal price to IDR 100 per share. The First Rights Issue: traded share became 2,331,000,000 shares Obtained ISO 14001 Environmental Management System Certification for North Sumatera Unit (PT BSP) The Second Rights Issue: traded share became 3,787,875,000 shares Establishment of Agri Resources BV palm plantation in Sumatera Obtained OHSAS 18001 Safety & Health Management System Certification for North Sumatera Unit (PT BSP) PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 3#4History & Milestones 2010 The Third Rights Issue: traded share became 13,553,772,676 shares Further expansion into palm oil and rubber FFB 1.2% 2011 Entered oleo chemical business Cooperation with ASD Costa Rica in developing high productivity seed Obtained RSPO Certification for North Sumatera Unit (PT BSP) 100-year anniversary of UNSP 2012 Obtained RSPO Certification for Jambi Unit (PT AMM) 2015 Oleo 42.4% CPO 38.1% Rubber 13.9% PK 4.4% 2014 Obtained ISPO Certification for Jambi Unit (PT AGW/PT AMM) Obtained ISPO Certification for North Sumatera Unit (PT BSP) Obtained RSPO Re Certification for North Sumatera Unit (PT BSP) Obtained ISPO Certification for West Sumatera Unit (PT BPP) Obtained SMK3 Safety & Health Management System Certification for North Sumatera Unit (PT BSP) Obtained ISPO Certification for Jambi Unit (PT SNP) 2016 2017 2018 2019 UNSP-9m20 Revenue Contribution Obtained ISO 9001:2008 Quality Management System Certification for Oil Palm Seed (PT ASD Bakrie Oil Palm Seed Indonesia) Conducted a 1:10 reverse stock and changed the share's nominal price to IDR 1,000 per share: traded share became 1,372,047,144 shares Obtained RSPO Re Certification for Jambi Unit (PT AMM) Obtained ISO 14001: 2015 Environmental Management System Re Certification for North Sumatera Unit (PT BSP) Non-Preemptive Rights: converted IDR 338,434,657,898 debt into 1,128,115,200 shares: traded share became 2,500,162,344 shares Obtained ISO 9001: 2015 Quality Management System Re Certification for North Sumatera Unit (PT BSP) Obtained ISO 9001: 2015 Quality Management System Certification for Oleo Chemical Unit (PT DAP) Obtained SMK3 Safety & Health Management System Re Certification for North Sumatera Unit (PT BSP) PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 4#5Shareholders (as of 15 Dec 2020) 15,058 public shareholders in 123 securities and custodian Local: 62% individuals + 13% institutions (= 75%) Foreign: 24% institutions + 1% individuals (= 25%) PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 5#6Management Board of Commissioners ■ President Commissioner: Nalinkant Amratlal Rathod ■ Commissioner: Anindya Novyan Bakrie ■ Commissioner: Bobby Gafur Umar Independent Commissioner: Benny Theno Independent Commissioner: Nengah Rama Gautama Director Director Adhika Andrayudha Bakrie C.S Seshadri President Director/CEO Bayu Irianto Director Director B.S. Vinayak Andi W. Setianto PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 6#7Sustainable Productivity Management continues efforts to improve productivity and sustainable capital structure PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 7#8CPO Price 1,400 1,200 1,000 800 600 400 200 CIF Rotterdam 1972 - 2020 ти 1972 1973 1974 1975 1976 1977 1978 PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 8#9Assets: Palm in Pictures Kernel Palm Kernel Oil PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 Mesocarp Palm Oil CRUDE PALM KERNEL OIL CRUDE PALM OIL Productivity Measures - Trees Per Hectare - Fruit Bunch Per Tree - Oil / Mesocarp / Fruit - Mill Productivity • Oil Extraction Rate vs Loss • Utilization 9#10- Strategy Productivity Innovation, Grup Bakrie kembangkan benih unggul sawit Jumat, 7 Maret 2014 19:54 WIB | 1923 Views Pewarta: Ahmad Wijaya www.an aran WS com ilustrasi kelapa sawit (FOTO ANTARA/Irsan Mulyadi) 66 Kita berkomitmen untuk mengembangkan bibit unggulan kelapa sawit yang mampu meningkatkan produktivitas," BBuy Pest Reject Gelombang Penghilang Hama & Serangga Kisaran, Sumatera Utara (ANTARA News) - PT Bakrie Sumetera Plantations Tbk (BSB) mengembangkan produksi benih unggul pohon kelapa sawit dalam upaya membantu pemerintah mempercepat program revitalisasi perkebunan di dalam negeri. "Kita berkomitmen untuk mengembangkan bibit unggulan kelapa sawit yang mampu meningkatkan produktivitas," kata Direktur Utama PT ASD-Bakrie Oil Palm Seed Indonesia, Atok Hendrayatno Tejolaksono kepada pers di Kisaran, Jumat. Hal tersebut disampaikan saat dirinya mendampingi Wakil Menteri Pertanian Rusman Heriawan meninjau Kebun Benih Unggul "Bakrie Seed Garden" milik PT Bakrie Sumatera Plantations Tbk (BSP)". PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 10#11Strategy Productivity Innovation - JV UNSP + Agricultural Service & Development (ASD) Costa Rica 681 hektar kebun bibit unggul (seed garden) di Kisaran Bibit unggul: - - - | - - - Lebih banyak pohon per hektar Lebih banyak buah per pohon Lebih banyak minyak karena Mesocarp tebal Lebih mudah dipanen dan lebih panjang usia produktif pohon karena pertumbuhan lambat Panen awal lebih cepat, menambah lagi total usia produktif pohon Lebih banyak produksi CPO per hektar yang sama PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 11#12News BISNIS INDONESIA - 6 DESEMBER 2014, HAL 6 KONTAN - 6 DESEMBER 2014, HAL 16 INVESTOR DAILY - 8 DESEMBER 2014, HAL 12 Bibit Unggul BSP KONTAN/Cheppy A. Muchlis Direktur Hubungan Investor PT Bakrie Sumatera Plantations (BSP) Andi W Setianto (kanan) berbincang dengan Technical Advisor PT ASD Bakrie Oil Palm Seed Indonesia, Cornelis Jan Breure di kebun induk (seed garden) kelapa sawit unggulan BSP Costarica Serbangan, Kisaran, Kabupaten Asahan Sumatera Utara, Jumat (5/12). Bibit BSP Costarica ini diklaim bisa mendongkrak produksi petani dari 3 ton crude palm oil (CPO) per hektare (ha) menjadi 8 ton per ha. PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 12#13News INDUSTRI / AGRIBISNIS ASD Bakrie Oil Palm optimistis catat kinerja gemilang Rabu, 10 Januari 2018 / 21:56 WIB KONTAN.CO.ID - JAKARTA. PT ASD Bakrie Oil Palm Seed optimistis akan kembali mencatat kinerja yang gemilang tahun ini. Perusahaan ini pun menargetkan akan menjual sekitar 2-3 juta butir benih sawit di 2018. Bila dibandingkan tahun sebelumnya, target yang ditetapkan tahun ini meningkat 100%. Di mana, pada tahun 2017, perusahaan ini mencatat penjualan benih sekitar 1,4 juta butir. Pada tahun 2017, perusahaan ini sudah berhasil meningkatkan penjualannya hingga lebih dari dua kali lipat. "Penjualan ASD-Bakrie Oil Palm Seed Indonesia sekitar 650.000 juta butir di 2016," kata Direktur Utama PT ASD Bakrie Oil Palm Seed, Andi W. Setianto, Selasa (9/1). Andi pun mengatakan, terdapat berbagai strategi yang dilakukan untuk meraih target yang telah ditetapkan tersebut. ASD Bakrie Oil akan terus menjual bibit unggul berkualitas dan bersertifikat dari pemerintah tau departemen pemerintah dengan produktivitas mencapai 10 ton CPO per ha. Selain itu, mereka pun menjual benih dengan harga yang terjangkau. PT ASD-Bakrie Oil Palm Seed Indonesia merupakan perusahaan bentukan antara PT. Bakrie Sumatera Plantations Tbk dan ASD Costa Rica. Andi yakin, adanya campur tangan ASD Costa Rica akan berdampak penjualan pada ASD-Bakrie Oil Palm Seed. "ASD Costa Rica adalah produsen oil palm seed terkemuka di dunia, dan bibit Costa Rica sudah dikenal luas di Indonesia, "tambah Andi. Tak hanya itu, Andi pun berpendapat peremajaan kebun sawit yang gencar dilakukan saat ini akan turut mendorong penjualan benih sawit. Terlebih, menurutnya peremajaan tersebut membutuhkan bibit berkualitas dan bersertifikat. "Apalagi saat ini rata-rata produktivitas petani hanya sekitar 1-2 ton CPO per ha," katanya. PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 13#14Assets: Estates and Factories * Data up to Sept 2020 Planted Hectarage (Ha) Palm Oil Nucleus BSP Kisaran NAGROE ACEH North Sumatra 10,133 DARUSSALAM GLP North Sumatra 7,728 BPP West Sumatra 8,856 CCI West Sumatra 1,965 NORTH SUMATRA AGW Jambi 4,387 SNP Jambi 2,793 MIB South Kalimantan 657 Total Palm Oil Nucleus 36,519 Palm Oil Plasma WEST SUMATRA BPP West Sumatra 6,347 AGW Jambi 7,701 SNP Jambi 928 Total Palm Oil Plasma 14,976 Rubber BSP Kisaran North Sumatra AMR Bengkulu HIM Lampung Total Rubber Total Planted 10,562 3,331 2,610 16,503 67,998 RIAU JAMBI BATAM SOUTH SUMATRA BENGKULU WEST KALIMANTAN BRUNEI MALAYSIA EAST KALIMANTAN CENTRAL KALIMANTAN LAMPUNG JAKARTA MADURA CENTRAL JAVA WEST JAVA YOGYAKARTA EAST JAVA SOUTH KALIMANTAN Installed Capacity 225 MT per hour 45,843 MT p.a End Products Crude Palm Oil Natural Rubber Fatty Acid, Glycerin Fatty Acid, Glycerin Fatty Alcohol Fatty Acid, Glycerin Fatty Alcohol Location N.Sumatera (2), W.Sumatera, Jambi (2) N. Sumatera, Bengkulu, Lampung N.Sumatera-Tanjung Morawa N.Sumatera-Kuala Tanjung . Mills and Factories CPO Mills (5) Rubber Factories (3) Fatty Acid FSC Fatty Acid I Fatty Alcohol | 52,800 MT p.a 99,000 MT p.a 33,000 MT p.a N.Sumatera-Kuala Tanjung Fatty Acid II 82,500 MT p.a Fatty Alcohol II 99,000 MT p.a CPO Refinery Kernel Crusher 495,000 MT p.a 165,000 MT p.a Olein, Stearin, PFAD N.Sumatera-Kuala Tanjung N.Sumatera-Kuala Tanjung N.Sumatera-Kuala Tanjung • . Crude Palm Kernel Oil N.Sumatera-Kuala Tanjung 67,998 Ha planted, with 88 % mature, 9% immature and 3% replanting area. 5 palm oil mills, 3 rubber factories, 5 oleo chemical plants, 1 refinery plant, and 1 kernel crushing plant. ISO and ISPO/RSPO sustainability- compliant. 7,667 employees. PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 14#15Kuala Tanjung Layout KCP Refinery Alcohol 1 Alcohol 2 Jetty 2 12 m-draft 20,000 DWT 2.7 km Jetty 1 16 m-draft 50,000 DWT 2.4 km 2.1 km Jetty 3 5m-draft 3,000 DWT Kuala Tanjung Olechemical Complex • Total Land Area : ± 74 hectares • 120 Km Southeast of Medan • Access to major sea lanes Acid 1 Facilities • 2 Fatty Acid Plants • 2 Fatty Alcohol Plants • 1 Kernel Crushing Plant . • 1 Refinery Plant • ⚫ Jetty Line, 2.7 km Acid 2 PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 15#16Performance: Palm Oil Production 9M20 %Change 286,415 -5.6% · Compared to 9M19, as of 9M20 CPO production declined by -11% to 81,056 tons due to El-Nino impact in 2019, replanting activity in several nucleus business units, aging plasma plantations, and selective third-party FFB purchased. FFB Production (MT) Nucleus Nucleus yield/Ha FY18 FY19 9M19 408,682 403,569 303,380 11.1 12.4 Plasma 99,657 82,404 Purchased 119,707 125,904 Total FFB Supply 628,047 611,877 8.5 9.7 13.7% 61,829 45,338 -26.7% 92,898 74,878 -19.4% 458,106 406,631 -11.2% Mill Production (MT) CPO 129,120 122,820 91,507 81,056 -11.4% CPO Extraction Rate 21.2% 20.7% 20.8% 20.7% -0.2% Palm Kernel 27,718 26,631 19,723 16,896 -14.3% Kernel Extraction Rate 4.6% 4.5% 4.5% 4.3% -3.5% Planted Area (Ha) UNSP Estates Profile - 9M20 UNSP-CPO Production ('000 Ton) Palm Nucleus 140 129.1 Mature 29,494 122.8 immature Immature 4,724 120 10% Replanting 2,301 100 Nucleus Planted 36,519 Replanting 5% 80 50 Palm Plasma 60 60 91.5 81.1 - Plasma Mature 14,416 mature 85% Plasma - Immature 560 40 20 Plasma Planted 14,976 Total Planted Area 51,495 FY18 FY19 9M19 9M20 PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 16#17Performance: Rubber Production Field Production Rubber (MT) FY18 FY19 9M19 9M20 %Change · Nucleus 17,185 16,174 11,750 12,393 5.5% Nucleus yield Kg/Ha 1,153 1,039 755 789 4.4% Total Field Rubber Supply 17,185 16,174 11,750 12,393 5.5% Factory Production (MT) Nature Rubber 16,145 14,939 10,940 10,778 -1.5% UNSP Estate Profile - Planted Area (Ha) 9M20 Rubber Nucleus Mature 15,713 Immature 790 mature 95% Total Planted Area 16,503 Compared to 9M19, as of 9M20 Field Production Rubber increased by 5.5% from 11,750 tons to 12,393 tons having been recovered from Pestalotiopsis a fungal leaf disease that occurred in 2019. - UNSP Rubber Production ('000 Ton) 18 16,1 16 14,9 14 12 immature 10 5% 8 6 4 2 PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 10,9 10,8 FY18 FY19 9M19 9M20 17#18Performance: Sales Sales Revenue (in IDR bn) FY18 FY19 9M19 9M20 %Change FFB 25 25 19 21 15.5% UNSPCPO Sales Volume ('000 Ton) CPO 890 858 621 660 6.3% PK 150 104 76 77 1.6% 140 125.5 125.9 Rubber 359 333 248 241 -2.7% Oleo 528 663 458 734 60.3% 120 Total 1,951 1,984 1,421 1,734 22.0% 100 Sales Volume (MT) FY18 FY19 9M19 9M20 %Change 94.2 80.8 80 FFB 17,691 18,826 14,518 13,707 -5.6% CPO 125,530 125,875 94,246 80,753 -14.3% 60 PK 27,690 26,482 19,406 16,835 -13.3% 40 Rubber 16,719 15,586 11,325 12,149 7.3% 20 622 Oleo 38,647 65,300 43,872 61,789 40.8% Average Selling Price (USD/MT) FFB CPO PK Rubber Oleo 99 95 90 107 19.1% FY18 FY19 9M19 9M20 497 482 465 559 20.1% 381 277 276 313 13.4% UNSP - Average Selling Prices (USD/Ton) 1,505 1,511 1,544 1,355 -12.2% 960 718 737 811 10.2% 1,000 2,000 900 Product Sales Contribution FY18 FY19 9M19 9M20 FFB 1.3% 1.3% 1.3% 1.2% 800 Rubber CPO 45.6% 43.3% 43.7% 38.1% 1,544 1,511 PK 7.7% 5.2% 5.3% 4.4% 700 1,505 1,355 Rubber 18.4% 16.8% 17.4% 13.9% 600 Oleo 27.1% 33.4% 32.2% 42.4% 497 Total 100.0% 100.0% 100.0% 100.0% 500 482 559 CPO 465 400 1,000 FY18 FY19 9M19 9M20 PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 18#19Performance: Consolidated Financial Profit & Loss (in IDR bn) FY18 FY19 9M19 9M20 %Change Sales 1,952 1,984 1,421 Gross Profit 285 127 89 Operating Loss -154 -316 -215 242 171.9% -69 -67.9% EBITDA 93 -42 -12 83 n/m Net Comprehensive Loss -1,461 -4,833 -190 -1,058 456.8% Margins Gross Margin 14.6% 6.4% 6.3% Operating Loss Margin -7.9% -15.9% -15.1% EBITDA Margin 4.8% -2.1% -0.8% Net Comprehensive Loss Margin -74.8% -243.6% -13.4% 14.0% 122.8% -4.0% -73.7% • 4.8% n/m -61.0% 356.3% Balance Sheet (in IDR bn) Current Assets Non Current Assets FY18 FY19 9M20 %Change 1,474 1,287 1,413 9.8% 11,889 7,113 7,178 0.9% Total Assets Current Liabilities Non Current Liabilities 13,363 8,400 8,591 2.3% 13,099 12,087 13,328 10.3% 1,699 1,759 1,767 0.5% Total Liabilities 14,798 13,846 15,095 9.0% Capital Deficiency -1,435 -5,446 -6,504 19.4% Total Liabilities and Capital Deficiency 13,363 8,400 8,591 2.3% 1,734 22.0% Compared to 9M19, Sales increased by 22% to Rp 1,734 billion in 9M20, Gross Profit increased by 172% to Rp 242 billion in 9M20 due to contribution from both upstream and downstream. Net comprehensive loss increased by 457% due to significant Rp 1,017 weakening against the USD from Rp 13,901 in FY19 to Rp 14,918 in 9M20. PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 19#20Going Forward: Overview, Challenge, and Strategy • Overview of Palm Oil and Rubber • - We have a view of continuing stable global demand for palm oil and rubber driven by continuous use of such in consumer goods products - We have a view of positively stable prices for the medium and long term Focus on Sustainable Productivity and Profitability We acknowledge our current challenges to improve productivity and profitability, we therefore are committed to: - Improve and optimize the estate management system; including but not limited to better progeny, field operation, water management, tree-age management, pest control, etc - Improve quality of infrastructure, both production and support facilities - Reduce debt and its related costs • Oleochemical / Downstream Business Revitalization program of our Oleochemical project is on-going PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020 20#21Bakrie Sumatera Plantations Thank You Visit our website at: www.bakriesumatera.com Address: PT Bakrie Sumatera Plantations Tbk Corporate Center Kompleks Rasuna Epicentrum Bakrie Tower 19th floor Jl. H.R. Rasuna Said Jakarta 12960, Indonesia Contact: Fitri Barnas Corporate Secretary e-mail [email protected] office +6221 29941286-87 Andi W. Setianto Shintya D. Rachmasari Investor Relations Team e-mail [email protected] [email protected] office +6221 29941286-87 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. Any forward looking statements are based on estimation, the realization thereof may deviate. PT Bakrie Sumatera Plantations Tbk accepts no liability whatsoever with respect to the use of this document or its contents. PT. Bakrie Sumatera Plantations Tbk | Management Presentation | 23 December 2020