#1JABABEKA & CO. PT Kawasan Industri Jababeka Tbk. Investor Presentation February 2023 (updated with 9M22 financials - FY22 marketing sales)#2Disclaimer This presentation material has been prepared by PT Kawasan Industri Jababeka Tbk (the "Company") and may contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as "expects," "plan," "will," "estimates," "projects," "intends," or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice. The information has been compiled from sources believed to be reliable. The information contained in this section is subject to change without notice, its accuracy is not guaranteed, and it may not contain all material information concerning the Company. The Company makes no representation regarding, or assumes any responsibility or liability for, the accuracy or completeness of, or any errors in or omissions from, any information contained herein. 1#32022 Marketing Sales Result and FY23 Outlook & Guidance Marketing Sales & Other Highlights 2020 & 2021 Marketing Sales: Rp898bn ⇒ Rp 1,418bn • 2020 down 46% vs 2019 due to the Covid-19 pandemic • 2021 up 58% vs 2020 - 101% of target achieved on the back of strong industrial performance 2022 Marketing Sales: Rp1,717bn (101% of target) • • Rp931bn Cikarang & Others: 61% industrial 39% Residential, Commercial, and others Rp794bn Kendal (93%) & other JVs (7%) Cash Flow Guidance / Overview: 2023 Cash inflow Guidance: • • • Rp1,850bn - - 50% Backlog (70% Cikarang/others - 30% Kendal) - 50% New Sales (60% Cikarang- 40% Kendal) Rp450bn Recurring EBITDA from power, water, port and other recurring businesses Total: Rp2,300 billion 2023 Cash outflow Guidance • Details on page 26 2023 Marketing Sales Target: Rp2,000bn • • Rp1,000bn Cikarang & others: Rp750bn industrial & land/Rp250bn residential, commercial, and others Rp1,000bn JVs (80% Kendal - all industrial) • Solid pipeline for industrial in both Cikarang and Kendal; 3 - 4 new residential & commercial launches planned Infrastructure - 2022 volumes higher than 2021 • • • • Water & wastewater volume increased 4% & 9% yoy Electricity volume increased 12% yoy Dry Port throughput increased 6% yoy 2021 vs 2020: +~10% water, +~14% power, +~13% port Leisure & Hospitality . Not material (small contributions to earnings/cashflow) • Rp300bn Construction & Land Development in Cikarang • Rp600bn Infrastructure & Land Development in Kendal • Rp150bn Maintenance Capex • Rp250bn Land Acquisition (discretionary) ● → (70% Cikarang / 30% Kendal) Rp350bn Interest Rp450bn SG&A (excl. infra) • Rp375bn Debt repayment (incl Rp200bn 2023 bond stub) • • Rp200bn Tax • Total: Rp2,675 billion Note: Kendal JV stand-alone cashflow projected to be around Rp200bn deficit for 2023 mainly due to CAPEX Cash balance of ~Rp1.3trillion as of 31 December 2022 (unaudited) • + US$20mn in Bank Mandiri loan proceeds in restricted cash (already used to partially call 2023 stub in January) 2#4Leading township developer & infrastructure powerhouse PT Kawasan Industri Jababeka Tbk. ("KIJA") is a leading township developer with an established track record in industry-based townships supported by residential & commercial components with world class infrastructure to support its development Overview of KIJA Business Segments Established in 1989 and became the first publicly listed industrial estate developer in Indonesia in 1994 Kota Jababeka, KIJA's flagship development, is a mature industry-based integrated township in Cikarang with on-site power plant and dry port Kendal Industrial Park Park by the Bay in Central Java, tourism-based townships in Tanjung Lesung, Banten, and in Morotai, North Maluku all three enjoy Special Economic Zone status Large and strategically located land bank of 5,184 hectares as per 30 September 2022 9M22 Revenue Breakdown (%) Dry port; 9.0% Water/Estate; Y-o-Y growth vs 9M21: 5.1% 13.7% Power; 29.6% 1,737 IDRbn Industrial Residential Commercial Real Estate Power Infrastructure 9M22 Gross Profit Breakdown (%) Dry port; 8.1% Real estate & Others; 47.6% Water/Estate; 15.2% Power; 18.4% 864 IDRbn Water & Estate Dry Port Y-o-Y growth vs 9M21: 36.2% Real estate & Others; 58.3% 9M22 gross margin: 48.9% vs. 9M21 gross margin: 38.4% Vision: To Create Modern Self Sustained Cities in Every Province in Indonesia and Provide Jobs for Better Life 3#5Milestones & Selected Awards More than 30 years track record in township development 1989 KOHLER presorts PropertyGuru ASIA PROPERTY AWARDS SIA F WATCH ESIA PI WINNER BEST INDUSTRIAL DEVELOPER (ASIA) PT Jababeka Tbk 2020 1996 1994 TCH SIA PRC ATCH OGNI THE HI W GOLDE PROPER AWARD PROPERTY AWARDS 2019 019 ONESIA WATCH ESIA PROPE WATCH NESIA PROP LIFETIME ACHIEVEMENT AWARD WATCH SETYOND JUANDI DARMOND NESIA PROPE ROPERTY AW WATCH GO OP ARDS INDON INDON A PROPERY WATCH. DONESIA GOLDEN PROPERTY AWARDS 2019 Golden Property Award 2019 The Best Township Development Project - Kota Jababeka Cikarang 6th Property Indonesia Awards 2018 The Recommended Condominium Development in Cikarang Kawana - Golf Residence Golden Property Award 2019 Lifetime Achievement Award to Mr.Setyono Djuandi Darmono 2003 2001 Inauguration of Education Park, including President University 2010 Commenced development of Jababeka CBD Cikarang Dry Port begins operations 2011 Acquisition of 1,500 ha land in Tanjung Lesung, Banten 2013 Bekasi 2014 Power Plant commenced operations KOHLER 2016 D'Khayangan Senior Living Launched Groundbreaking Kendal Industrial Park - Park by the Bay PropertyGuru INDONESIA PROPERTY AWARDS Property Guru - 2020 Best Developer & Industrial Estate WINNER Jababeka Group established and started development of the industrial estate IPO on Jakarta and Surabaya Stock Exchange Acquisition of Menara Batavia in Jakarta CBD V BEST DE BEST INDUSTRIAL ESTATE DEVELOPMENT PT Ja Jababeka Industrial Estate by PT Jababeka Tbk 2020 2020 4#6Sizeable land bank in strategic locations with upside potential Jakarta KOTA JABABEKA Kota Jababeka Cikarang • Master plan: 5,600 hectares • 35km east of Jakarta • Land Bank: 1,254 ha(1) Fully integrated and matured city development 35km east of Jakarta, 45mins from Jakarta's CBD Most established industrial area in Greater Jakarta, home to >2,000 local and multinational companies 7 Tanjung Lesung Banten J Kota Jababeka Cikarang Kendal, Central Java West Java Semarang Central Java 119 TANJUNG LESUNG Serary Legend Tanjung Lesung • Master plan: 1,500 hectares • 170km southwest of Jakarta • Land Bank: 1,495 ha(1) INDONESIA Yogyakarta East Java Surabaya Designated as a Special Economic Zone for Tourism Located 170km southwest of Jakarta and covers more than 1,500 ha of land on a peninsula facing the Indian Ocean Envisaged to become a first-class integrated resort destination for both domestic and international tourists Kendal, Central Java • Master plan: 2,200 hectares • 450km east of Jakarta • Land Bank: 550 ha (1) Offers a deep pool of young and skilled labour at a competitive cost Special Economic Zone for Industrial Estate Strategically located along the Jakarta-Semarang-Surabaya Economic Corridor Note: 1 Land bank as at 30 September 2022 5#7- Kota Jababeka — Flagship industry-based integrated township Kota Jababeka is a mature industry-based township strategically located near Jakarta CBD, seaport and airport... Soekarno Hatta International Airport Semanan Balaraja TANGERANG Tanjung Priok Seaport JAKARTA Stasiun Halim Patimban Future Seaport • JORR 2 Toll Road Cibitung - Tanjung Priok Seaport BEKASI KOTA JABABEKA • • ±1.5 hours CIKAMPEK Kertajati Future Halim Perdana BANDUNG International Kusuma International Airport Airport Stasiun Tegalluar Toll JOR 2 LRT Route MRT Route High Speed Rail Way Jakarta Bandung 6 lane Highway of Jakarta Inner Ring Road Elevated Toll Road Jakarta - Cikampek LRT MRT High speed train Commuter train Elevated toll road JORR 2 35 KM from Jakarta City Close to International Airport & Seaport Accessible by toll road and railway Connectivity with 3 Toll Access / Exit Development of Major Transportation Infrastructure South Jakarta North Jakarta <Jarta Tol Jakarta MM2100 IL Cikarang Train Station JR onnexion 5.600 ha Total Area New Exit Toll m 29 T KM 29 EJIP President University Exit Toll Km 31 Cikarang Barat KM 31 HYUNDAT Tranportation infrastructure Lemah Abang Train Station ................ Proposed MRT Station JABABEKA RESIDENCE T KM 34 (Proposed / Under Construction) IPPO CIKARANG LRT Track High Speed Train Elevated Toll Road MRT Track Double-double track Railway Jakarta 2nd Outer Ring (JORR) Road Jababeka Golf & Country Club KOTA DELTAMAS Bandung > 6#8Kota Jababeka - Anchored by a blue-chip customer base The portfolio of high-quality multinational and domestic customers at Kota Jababeka is a testament to the township's strategic location and superior infrastructure facilities Diverse mix of occupants across sectors (breakdown by number of occupants as of 30 September 2022) Portfolio of high quality customers MATTEL EMERSON KOMATSU Kao као ■ Electronics ■Machinery ■Conumer goods ■Chemicals YAMAHA L'ORÉAL 47.5% 10.4% 6.6% 6.2% ■ Automotive ■ Plastics Unilever 6.0% ■ F&B 5.5% ■ Building 5.2% ■Metal Fabrication SAMSUNG ■ Textile 4.2% 1.5% 3.6% 3.6% ■ Others KRAFT NABISCO San Miguel STORK PRINTS GROUP AkzoNobel Tomorrow's Answers Today SMURFIT-STONE Kimberly-Clark SARI ROTI Tupperware Kota Jababeka is home to over 2,000 local and multinational customers from over 20 countries Kawan LamaⓇ #1 Commercial & Industrial Supply Company 7#9Jababeka Residence - A City for Your World Residential & Commercial Developments Oscar Townhouse Cluster Mixed-Use Developments 12 November 2020 Sudirman Boulevard Commercial Center Progress 24 Juni 2020 Hollywood Junction, Monroe & Elvis Tower Facilities H Holiday m International Hotels RS PERMA Hospitals Bekasi Power Cikarang Dry Port Jababeka Industrial Estate San Miguel L'Oreal Sari Roti Mattel Kao Kraft Nissin Samsung Unilever KM 29 T New Exit Toll Km 29 KM 31 T Exit Toll Km 31 Cikarang Barat President University & Reputable Schools Jababeka Golf & Country Club B Mattel Kawan Lama KM 34 JABABEKA RESIDENCE Bring Better Quality of Life JJ Royal 阿里 Tupperware Yamaha Megmilk Snow Brand Indonesia JABABEKA RESIDENCE A City for Your World Living Plaza Jababeka Jababeka Convention Center Jababeka Stadium 8#10Enhancing Kota Jababeka's value proposition: Jababeka Infrastruktur PT Jababeka Infrastruktur provides top notch infrastructure and services, including clean water provision, wastewater treatment, estate management, and other services such in-house fire brigade, 24-hour security, fiber optics, natural gas and others... Water Treatment Plant WTP 1 Capacity 470 L/sec WTP 2 Capacity 270 L/sec WWTP 1 WWTP 2 Capacity Capacity 229 L/sec 278 L/sec Telco Natural Gas Our water and wastewater treatment facilities serves 1,688 industrial businesses, 1,849 commercial businesses and 10,580 households Wastewater Treatment Plant ...which meet international standards and operate in accordance with environmentally friendly policies in Kota Jababeka, Cikarang 9#11Enhancing Kota Jababeka's value proposition: Bekasi Power Plant KIJA is the only industrial estate developer in Indonesia with its own power plant located within its estate Integrated Power Generation & Distribution Process 1 100% output to PLN SAFETY FIRST! 4 2 Buy back from PLN PLN (+ margin) 3 Direct sale to factories (+ margin) Financial Highlights (IDR billion) Factories 900 832 Gross Profit Revenue ▲ Gross Profit Margin 40% 800 35% 31% 700 638 633 30% 578 600 515 25% 27% 500 20% 400 21% 15% 300 16% 15% 10% 200 100 5% 136 172 159 93 119 0 0% 2019 2020 2021 9M21 9M22 • 130MW gas fired combined cycle plant 20 year 100% off-take agreement from Perusahaan Listrik Negara ("PLN") signed in Feb 2011 - Contracted capacity: 118.8MW - Rate per kWh: ~US$11 cents - Average gas cost / MMBTU: ~US$6.0 - Fuel costs borne by PLN on a 100% pass- through basis; company has secured gas supply and is not exposed to any fuel price increases - Flexibility to buy back power and resell to industrial customers at a premium -Take-or-pay: 15% of total gas requirement and un-utilized gas can be carried forward for a maximum of 12 months Providing a significant marketing advantage over its competitors as access to reliable electricity supply is one of the primary concerns for industrial clients in Indonesia 10#12Enhancing Kota Jababeka's value proposition: Cikarang Dry Port Strategic location in the heart of the largest manufacturing zone along the Bekasi-Cikampek industrial corridor... LEGENDS Toll Road Industrial Estate THAILAND CAMBODIA VIETNAM PHILIPPINES * TANJUNG PRIOK PORT (HUB) Road Rail Way Ocean MALAYSA BUNS прикол Jakarts INDONESIA Charing Airport JAKARTA Indian Ocean Distance = 50 km <TO TANGERANG BEKASI CIKARANG DRY PORT (SPOKE) Enhanced Accessibility with New Toll Gate KM 29 Cikarang Utama Toll Gate New Toll Gate KM 29 Highway Exit KM 29 To Jakarta Flyover to Jakarta JABABEKA MM 2100 62%¹ EJIP LIPPO HYUNDAI GIIC North Pacific Ocean SURYA CIPTA CIKAMPEK KIIC KIKC CFLD KIM KBI International Port Code: IDJBK Surrounded by 12+ Industrial Estates and more than 3,000 manufacturing companiee To Cikampek/ Bandung 1 Estimated % of total throughput at Tanjung Priok Port originating from this area Notes: 11#13Enhancing Kota Jababeka's value proposition: Cikarang Dry Port To Surabaya To Jakarta/Tg. Priok Bonded Logistics Gate Center Port (PLB) IDJBK Code: Railway Emplacement Container Freight Station Reefer Office: New Office CDP, Quarantine & PLB 2 3rd Party DC Customs & Banking Physical CHARANG DRY PORT Inspection Mobile X-Ray Container Yard MAEREK MAERSK MARREV SITC SITC SITC 200 ha of integrated port & logistics facilities 12#14Enhancing Kota Jababeka's value proposition: Cikarang Dry Port Cikarang Dry Port (CDP) is the first and only integrated customs, quarantine and logistics facility in Indonesia... Overview • Since 2012, Cikarang Dry Port is an official port of origin and destination with international port code IDJBK - now connected with 25 major shipping lines Integrated port and logistics facilities with multi modal transportation services • Smart Port Solution to streamline the business process Besides export/import, CDP also serves domestic distribution via main railway line that runs from west Java to east Java and also combining it with domestics shipping lines services • Bonded Logistics Centre (FTZ facilities) for Cotton & minerals/metals Selected customer & partner profile at Cikarang Dry Port Shipping Lines: Revenue (IDR billion) 202 174 146 156 129 2019 2020 2021 9M21 9M22 |Throughput (TEU) 82,161 MAERSK CMA CGM LINE APL SITC EVERGREEN CNC Epico Third Party Logistics Provider (3PL): APLA Logistics BDP DB SCHENKER INTERNATIONAL Yusen Logistics ITOCHU Shippers/Consignees: 70,221 62,381 56,237 53,329 Unilever P&G Colgate EPSON® NIKE EXCEED YOUR VISION HONDA IKEA ZALORA The Power of Dreams L'ORÉAL 2019 2020 2021 9M21 ...allowing customers to more efficiently manage their imports and exports and benefit from cost savings 9M22 13#15Diversified land bank & business segments A geographically diversified land bank allows KIJA to capture different market segments and enhances earnings resilience... Township Development & Land Bank - Total (1): 5,184ha Kota Jababeka 1,254ha Kendal 550ha Tanjung Lesung 1,495ha Morotai 1,885ha Positioning Established MNCs and domestic companies willing to pay a premium for strategic location and mature township with top notch infrastructure in place More cost-conscious customers looking for an alternative to Greater Jakarta industrial estates that still provides top notch infrastructure Tourism, leisure and hospitality focused integrated township to tap into entertainment/leisure spending by rising middle class in Indonesia Well diversified across multiple segments (segment breakdown in % by 9M22 revenue contribution): Real Estate & Others (2): 47.6% Recurring (3): 52.4% Future tourism and logistics hub strategically located in the heart of Pacific Asia with natural tropical beauty and World War 2 historic sites and relics 3.2% 18.9% 3.5% 6.4% 11.7% 1.3% 2.6% 29.6% 13.7% 9.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% ■Developed Land Factory Buildings Commercial Residential Tourism Golf Others Power Plant Water & Estate Services Dry Port ...in addition to benefiting from future infrastructure developments across its land bank locations Notes: 1 As per 30 September 2022 2 Comprises real estate, golf and other non-infrastructure segments 3 Recurring revenue includes contribution from power plant, dry port and service & maintenance (water, wastewater, estate management and others) 14#16Kendal Industrial Park - Park by the Bay in JAVA SEA • Joint Venture between Jababeka (51%) and Sembcorp (49%) from Singapore • Special Economic Zone for Industrial Estates Benefits from Sembcorp's expertise developing and marketing industrial estates across Asia (China, Vietnam, Indonesia) and Jababeka's long track record and experience in industrial estate development infrastructure operations and • Total planned area of 2,200ha; phase 1: 860ha • Excellent connectivity to major infrastructure and amenities Kendal Port Tanjung Emas Seaport TANG KENDAL Ahmad Yani Int'l Airport Semarang UNGARAN WONOSOBO TEMANGGUNG MAGALANG 076 Information: : Arterial Road : Toll Road : Railway WASAN PARK BY Official opening ceremony on November 14th, 2016, by the President of Indonesia, Mr Joko Widodo, and the Prime Minister of Singapore, Mr Lee Hsien Loong SALATIGA Distance to Kendal Industrial Park - Park by the Bay Tanjung Emas International Seaport Ahmad Yani International Airport Semarang (Central Java capital) KENDAL INDUSTRIAL PARK JEPARA DEMAK KUDUS N 25 km 20 km 21 km 15#17Kendal Industrial Park - Park by the Bay KENDAL INDUSTRIAL PARK Our Kendal Industrial Park - Park by the Bay development in Central Java is well-positioned to benefit from growing demand for relatively low-cost industrial estates with good connectivity and competitive labor costs Key Highlights • • Macro infrastructure planning that supports growth of Kendal Industrial Park - improved connectivity and accessibility (for example newly opened Trans Java toll road and new Ahmad Yani Airport) Competitive manpower / low labour costs in Central Java makes Kendal Industrial Park - Park by the Bay particularly interesting for labor intensive industries Numerous human resources education & training facilities Top notch infrastructure & One-stop solution for licensing, manpower recruitment, on-site logistics, security and estate management services 5% 4% 4% 5% 10% 3% 3% Tenant breakdown as of 30 September 2022 (80 tenants) 28% ■Fashion Electronics ■Furniture Packaging 11% 11% 16% ■ F&B ■ Ceramic ■Construction Materials ■ Toys & Bicycle Health Care ■Logistics ■ Other 43 13 24 ■In Operation Under Construction ■Design & Planning 16#18Kendal Industrial Park - Park by the Bay OTHERS FASHION CITY KENDAL INDUSTRIAL PARK TOWN SQUARE POLYTECHNIC COURSE FURNITURE HUB wwwww ARCADE BY THE BAY KIK OFFICE AUTOMOTIVE HUB ELECTRONIC HUB FOOD CITY NEW INTERNATIONAL KENDAL SEAPORT To Be Completed in 2021 LOGISTIC HUB READY BUILT FACTORY DORMITORIES AND HOUSING JALAN RAYA ARTERI KENDAL INDUSTRIAL PARK 17#19Tanjung Lesung Malaysia Singapore Indonesia Tanjung Lesung Ujung Kulon National Park Tanjung Lesung overview Location ~ 170 km southwest of Jakarta in Banten Concept Tourism-based integrated township apartments, sailing, diving & beach clubs) (hotels, Australia Access Krakatau Mountain Anyer Tanjung Lesung Panaitan Island Labuan Merak Pandeglang Serang Future Toll road Panimbang SOEKARNO - HATTA International Airport Jakarta Jakarta-Merak Toll Road Currently accessible by toll road from Jakarta in ~ 3.5 hours President Joko Widodo speaking on Tanjung Lesung's designation as Special Economic Zone for Tourism 18#20Tanjung Lesung Strong government support for Tanjung Lesung's development as a tourism zone... Facilities and infrastructure at Tanjung Lesung Existing infrastructure includes access roads, a water treatment plant, wastewater treatment plant, electricity supply and telecommunication links ~ Visitors currently have access to 300 rooms spread out over two hotels/resorts, a bed and breakfast and several cottages • Other facilities: restaurant and bar, golf course, swimming pool, spa, beach club, sailing club, private air strip, school, mosque, residential housing units, and a medical clinic Golf course Strong government support for development of Tanjung Lesung One of 10 New Tourism Destinations in Indonesia that the Indonesian Government is promoting New toll road from Serang Timur to Panimbang: A consortium led by PT Wijaya Karya Tbk is constructing the toll road and a first section is already operational. WL SERANG WHA PERANG OSP UPDATE! OOOP UPDATE! Tanjung Lesung has been designated as Special Economic Zone for Tourism OSP UPDATE! Aerial view Villa with private pool at Tanjung Lesung ...is expected to increase interest from potential investors/partners for the project 19#21Tanjung Lesung Tanjung Lesung Masterplan Tanjung Lesung Beach Hotel A Seaside Township 1,500 Ha Current property products Tanjung Lesung Beach Hotel Kalicaa Villa Beach Club Tj. Lesung Strait Golf Course KALICAA Tj. Lesung Point VILLA Sailing Club Blue Fish Hotel Tj. Lesung Harbour LADDA BAY village Tj. Lesung Bayside Tj. Lesung Heartland Tj. Lesung Harbour Tj. Lesung Point Tj. Lesung Bayside Tj. Lesung Strait Tj. Lesung Highland Site Boundary Revati Residence Tj. Lesung Heartland Tj. Lesung Highland 20#22Morotai Future tourism and logistics hub strategically located in the heart of Pacific Asia with natural tropical beauty and World War 2 historic sites and relics MOROTAI SPECIAL ECONOMIC ZONE KEY FACTS AND FIGURES: 2,315 Square kilometer/4 times size of Singapore 80 kilometers from north to south MASTER PLAN 42 kilometers from east to west 42% forest area 150 square kilometers suitable for industrial development RESORT 3 hours flight from Singapore and Taipei JABABEKA MOROTAI JABABEKA & CO. Great potential for tourism, agricultural and fishing industries, and as a logistics hub LEGEND: 1 CENTRAL BUSINESS DISTRICT RESORT INDUSTRIAL PARK FISHERY FOREST SEAPORT Morotai is a Special Economic Zone for tourism and 1 of 10 new tourism destinations promoted by the government AIRPORT SPECIAL ECONOMIC ZONE MOROTAI ISLAND Evening view at Morotai Beach view at Morotai 21 27#23Clear strategic focus KIJA's existing pipeline provides visible opportunities over different time frames Continue to develop and capitalize on Kota Jababeka Township Short Term Medium Term Further development of Kendal Industrial Park in partnership with Sembcorp in Central Java Long Term Vision • Development of Tanjung Lesung tourism-based township Development of Morotai, initially as a tourism-based township, longer term also as a logistics hub and for agriculture/fishery industries Replicate Kota Jababeka's industry-based integrated township model throughout Indonesia Build out an infrastructure facility portfolio (power, water, ports, etc.) to support these new townships 22 22#24Financial Highlights Revenue Breakdown (IDR billion) Gross Profit (IDR billion) and Gross Profit Margin (%) Real Estate & Others Recurring Revenue 2,490 37% 43% 44% 38% 1,093 2,396 2,254 1,018 843 1,060 1,123 1,737 1,653 635 1,291 909 939 1,336 1,367 963 828 714 2019 2020 2021 9M21 9M22 2019 50% 864 2020 2021 9M21 9M22 Adjusted EBITDA (IDR billion) and Adj. EBITDA margin (%) Net Income (IDR billion) 29% 33% 33% 27% 40% 817 789 694 657 2019 2020 2021 447 9M21 9M22 141 (2) 2019 88 (3) 45(3) 2020 2021 (102)(3) (128) (3) 9M21 9M22 Notes: (1) EBITDA adjusted for final tax expense, tax adjustments, unrealized foreign exchange loss (gain) - net, provision for employee benefits net of benefits paid in the period, and certain non-cash items, such as losses from write-off (reversal of allowance) of receivables - net, and impairment loss in investments in associates and investments in share of stock. We define EBITDA as net (loss) profit before interest expense, income tax expense/(benefit), depreciation and amortization; (2) Approximate unrealized foreign exchange gain (noncash) for 2019: IDR 168 billion 23 (3) Approximate unrealized foreign exchange loss (noncash) for 2020: IDR 61 billion, 2021: IDR 78 billion, 9M21: IDR 76 billion, and 9M22: IDR 274 billion 23#25Balance Sheet Highlights (1) Total Assets and Cash (IDR billion) 12,185 Cash & cash eqv 12,200 Other Assets 12,292 12,564 Debt, Equity (IDR billion) and Debt/Equity (%) 37% ■Total Equity 43% Total Debt % 44% 38% 4,177 4,240 4,301 4,591 11,099 10,908 11,006 11,173 1,086 1,292 1,286 1,391 2019 2020 2021 9M22 (2) Adjusted EBITDA /Interest Expense (x) Notes: (1) (2) 6,307 6,260 6,372 6,273 2019 2020 Net Debt/Adjusted EBITDA² (x) 2021 9M22 1.94x 4.83x 1.88x 1.75x 3.88x 3.90x 1.58x 3.24x 2019 2020 2021 9M22 2019 2020 2021 LTM 9M22 Includes short term investments (deposits) and restricted cash EBITDA adjusted for final tax expense, tax adjustments, unrealized foreign exchange loss (gain) - net, provision for employee benefits net of benefits paid in the period, and certain non-cash items, such as losses from write-off (reversal of allowance) of receivables - net, and impairment loss in investments in associates and investments in share of stock. We define EBITDA as net (loss) profit before interest expense, income tax expense/(benefit), depreciation and amortization; (3) Total debt (short-term and long-term bank loans, lease liabilities, and senior notes) less cash and cash equivalents; 24#269M22 Financial Highlights PT Jababeka Tbk ("KIJA") recorded a total revenue of Rp 1,737.0 billion for the first three quarters of 2022, an increase of 5% compared to the same period of 2021. This increase in revenue was mainly the result of higher contribution from the Land for Development & Property Pillar. The Company's Land Development & Property pillar saw revenue increase 16% to Rp 747.1 billion in 9M22, from Rp 644.5 billion in 9M21. This increase in revenue was mainly the result of a better overall performance of property sales. Sales of developed land increased to Rp 328.6 billion in 9M22 from Rp 322.9 billion in 9M21, an increase in sales of land and houses to Rp 138.5 billion in 9M22 from Rp 115.7 billion in 9M21, an increase in sales of office spaces and shop houses to Rp 111.1 billion in 9M22 from Rp 69.2 billion in 9M21, an increase in sales from apartments to Rp 65.5 billion in 9M22 from Rp 58.8 billion in 9M21, and an increase in sales of land and factory buildings to Rp 61.4 billion in 9M22 from Rp 33.9 billion in 9M21. The Infrastructure Pillar revenue decreased 3% to become Rp 909.4 billion for the first three quarters of 2022, from Rp 938.8 billion over the same period of 2021. The main reason for this decrease was due to a decrease in revenue from Bekasi Power to Rp 515.0 billion in 9M22, from Rp 578.4 billion in the same period of 2021 last year primarily due to a lower average gas price during the period in 2022. On the contrary, the Company did record Rp 58bn of un-invoiced amounts from the period October 2021 - January 2022. On the other hand, dry port and service & maintenance saw revenue increase by 20% and 3% respectively in 9M22. Dry port revenue increased because of a 4% increase in TEU throughput from 54,197 TEU in 9M21 to 56,237 TEU in 9M22 and an increase in tariff. In addition, clean water volume provision from the Company's infrastructure services saw an increase of 7% from 10.6 million cubic meter in 9M21 to 11.4 million cubic meter in 9M22, while treatment of wastewater volume increased 10% from 4.2 million cubic meter in 9M21 to 4.6 million cubic meter in 9M22. KIJA's Leisure & Hospitality pillar posted an increase in revenue to Rp 80.5 billion in the first three quarters of 2022 from Rp 69.3 billion in the previous year. This increase in revenue mainly came from the Golf segment, which saw revenue increase to Rp 55.7 billion in 9M22 from Rp 44.8 billion in the first three quarters of 2021. The recurring revenue generated from the Infrastructure Pillar amounted to 52% from total revenue in the first three quarters of 2022, compared to 57% in the previous year. This lower contribution is mainly the result of significantly higher contribution from revenue of the Land Development & Property segment. The Company's gross profit increased 36% to become Rp 864.2 billion in 9M22. At the same time, KIJA's consolidated gross profit margin for the first three quarters of 2022 was recorded at 50% compared to 38% in 9M21. The increase in gross profit margin is mainly due to more relative contribution from the Land Development & Property pillar and more recognition of developed land from Cikarang in 9M22 compared to 9M21. KIJA recorded a net loss of Rp 101.6 billion in the first three quarters of 2022 compared to a net loss of Rp 128.2 billion for the same period in 2021. The main reason for the loss in 2022 is caused by the impact of foreign exchange (forex) movements as the Company booked a forex loss of Rp 274.4 billion (translation loss) in 9M22 compared to a forex loss of Rp 75.8 billion in 9M21. The Company's EBITDA in 9M22 amounted to Rp 693.7 billion compared to Rp 446.9 billion in 9M21, largely in line with the increase in revenue and gross profit. In terms of Land Development and Property marketing sales the Company achieved Rp 1,459.1 billion in the first three quarters of 2022, equivalent to 86% from the Company's full year marketing sales target of Rp1,700 billion (Rp1,100 billion Cikarang & others, Rp 600 billion Kendal), and an increase of 49% compared to Rp 981.3 billion in 9M21. Marketing sales from Cikarang and others contributed 52%, whereas Kendal added 48%. Sales from industrial products (land and/or land with standard factory buildings) contributed 77%, while the residential/commercial and others segment contributed the balance 23%. As per the end of September 2022 Cikarang and others achieved 70% from the 2022 full year target while Kendal already exceeded the full year target with an achievement of 116%. Please contact us at tim [email protected] if you want to be included in the Company's distribution list 25#27FY22 Marketing Sales Description Total 1Q 2Q 3Q 4Q Area (m2) Amount (RPK) M2 Amount (RpK) M2 Amount (RPK) M2 Amount (RPK) M2 Amount (RpK) 100% Consolidated / Wholly Owned Land Plots - Cikarang 106,292 377,617,383 60,450 Industrial Buildings - Cikarang 22,126 Landed Houses - Cikarang 12,047 Commercial/Shop Houses - Cikarang 3,795 Apartments Cikarang Tanjung Lesung, Rental & Other Subtotal 144,260 180,502,750 713 136,251,855 4,845 89,987,530 2,074 2,508,289 135,526,220 922,394,027 68,082 252,363,637 7,147 15,348,920 5,415 24,930,180 33,280 6,231,640 6,286 48,684,270 9,626 77,367,060 5,501 51,296,888 2,278 27,951,442 2,011 23,772,104 2,913 49,886,703 681 20,151,749 699 18,572,952 341 1,025,455 1,482,834 72,326,460 9,998,866 84,974,646 48,219,780 33,231,421 1,376,126 30,708,998 22,491,896 433,130,783 16,392 123,618,081 17,751 175,351,294 42,035 190,293,869 Joint Venture: Land Plots Kendal * * - 51% 540,773 737,190,722 26,335 36,605,650 166,773 234,720,753 317,377 421,855,855 30,288 44,008,464 Industrial Buildings - Kendal * 51% Apartments - Kawana ** 60% 657,657 657,657.00 Apartments - Riverview *** 51% 56,650,327 7,837,530 11,114,679 Attributable Subtotal (ownership % * sales value) 405,253,529 22,666,022 125,770,664 14,206,382 222,391,741 23,491,736 34,425,102 Total attributable marketing sales 1,327,647,556 455,796,805 249,388,745 397,743,035 224,718,971 Total marketing sales 685,033 257,794,069 ** 1,716,892,732 94,417 477,573,963 183,165 370,111,170 335,128 611,413,531 72,323 * Joint Venture between Jabebeka (51%) and Sembawang Corporation (49%) for the development of Kendal Industrial Park in Central Java Joint Venture between Jababeka (60%) and Creed Group (40%) for the development of Kawana Golf View Residences in Cikarang *** Joint Venture between Jababeka (51%) and PT PP Property Tbk (49%) for the development of Riverview Residences in Cikarang PT Jababeka Tbk ("KIJA") achieved Rp 1,717 billion in marketing sales in 2022, which is 101% of the Company's FY22 marketing sales target of Rp1,700 billion, and an increase of 21% compared to Rp1,417 billion in 2021. 26#28Debt Overview - As of 30 Sept 2022 Debt Maturity Profile () (in Million USD) 0.7 300.0 ■Bank Tabungan Negara Senior Notes Due 2023 (2) Proforma Debt Maturity Profile (¹) (in million USD) 185.9 Bank Tabungan Negara Senior Notes Due 2023 Bank Mandiri ■Senior Notes Due 2027 In December 2022, Jababeka completed an exchange offer on its existing US$300mm notes due 2023. ~US$265.5mm of the existing notes were rolled into new ~US$185.9mm 2027 senior secured notes, with existing noteholders receiving ~US$79.6mm cash consideration, which the Company sourced from a new US$100mm loan facility from Bank Mandiri. Balance ~US$20.3mm from the Bank Mandiri loan to be used to partially call the remaining US$34mm existing notes in January 2023. 2.3 1.3 0.7 4Q22 2023 2024 2025 2026 2017 Total Debt as at 30 Sep 2022 Bank Loans (1) Senior Notes 4Q22 34.5 25.0 15.0 10.0 2.3 1.3 2023 IDR 4.6 trillion equivalent (1 USD = 15,247 IDR) - average cost of debt 6.55% p.a. Bank Tabungan Negara IDR 66bn 11% p.a. 32.5 17.5 2024 2025 2026 2027 Construction Loan (JV w PT PP - Riverview) US$ 300 million Guaranteed Senior Notes Due 2023, Coupon of 6.5% p.a. US$ 200 million notional is hedged by means of call spreads with an average lower strike of 13,700 Rupiah and an average upper strike of 15,700 Rupiah since June 2021 ((from previously 13,021 to 15,997 - amended trades to reduce near term premium payable and partially monetize "in the money" positions. Recurring revenue provides stability and visibility of cash flows, which are partially based on USD pricing terms (power & water) providing a natural hedge for USD-denominated interest expenses Hedging Practice • Notes: (1) Excludes Lease Payables amounting to Rp28bn & Overdraft facility from BRI amounting to Rp1bn (2) Assumes US$265.5mm of the existing notes were rolled into new US$185.9mm 2027 senior secured notes, with existing noteholders receiving "US$79.6mm cash consideration, which the Company sourced from a new US$100mm loan facility from Bank Mandiri 27#29Management Team Average of more than 25 years of industrial township development experience Board of Commissioners อาค SEKA STR BEKA EKA USTR Setyono Djuandi Darmono President Commissioner (Founder) Suhardi Alius Vice President Commissioner Independent Commissioner Board of Directors Gan Michael Independent Commissioner Budianto Liman President Director BEKA USTR STR BEK Tjahjadi Rahardja Vice President Director Sutedja Sidarta Darmono Director Hyanto Wihadhi Director All appointed during the Company's Annual General Meeting of Shareholders held on 8 September 2021 28#30Thank You www.jababeka.com JABABEKA & CO.