#1PT. CENTRATAMA TELEKOMUNIKASI INDONESIA, TBK Company Presentation August 2018 A Leading Infrastructure Provider In Indonesia#2DISCLAIMER CENTRATAMA GROUP These materials and information have been prepared by PT Centratama Telekomunikasi Indonesia, Tbk. (the "Company") "as is" and without warranties of any kind and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in these materials. Neither the Company nor any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss arising from any information presented or contained in these materials. It is your responsibility to evaluate the accuracy, completeness and usefulness of any information in this materials or other information provided. 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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. The Company has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances. These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation to buy or subscribe for any securities of the Company in any jurisdiction, nor should these materials or any part of them form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 2#3GENERAL OVERVIEW Group Structure PT. Centratama Telekomunikasi 99.99% PT. Centratama Menara Indonesia Internet 1% Indonesia Tbk CENTRATAMA GROUP 99.99% PT. Network Quality Indonesia 99.99% PT. Mac Sarana Djaya 99.99% PT. Fastel Sarana Indonesia Brief Profile • PT. Centratama Telekomunikasi, Tbk, and its subsidiaries, ("the Group", "Company") is an independent telecommunication infrastructure company, providing integrated services for tower and in-building DAS¹ as well as internet . • The Company managed 1,641 towers with 1.43x tenancy ratio and 841 in-building DAS sites with 1.79x tenancy ratio as of June 2018 During 1H18, the Company booked Rp 400.0B revenue, Rp 312.8B EBITDA (78.2% EBITDA margin), and Rp 68.6B net profit Revenue by Business Segments Note: Distributed antenna system Tower Lease 37% In-building DAS¹ Lease 62% PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Key Milestones • Acquired PT. Centratama Menara Indonesia, the operating company for telecommunication tower business, in 2013 Acquired PT. Network Quality Indonesia ("NQI") and its subsidiaries in 2017: Company Presentation | August 2018 О O PT. Mac Sarana Djaya - the in-building DAS business operating company PT. Fastel Sarana Indonesia the internet services provider and other value added businesses 3#4OUR CORE STRENGTHS ກ An integrated telco infrastructure company Fastest growing tower company in the market 1 & The largest independent in-building DAS provider in Indonesial Proven execution track record with national scale footprints S Robust balance sheet position CENTRATAMA GROUP Untapped growth potential from vast range of new product offerings PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 4#5.. 00 Section 1 Industry Overview A Leading Infrastructure Provider In Indonesia#6DEMAND FOR MOBILE NETWORK INFRASTRUCTURES Growth in the mobile data consumption is expected to persist... Indonesia's Annual Mobile Traffic in Exabytes (EB) CENTRATAMA GROUP ...yet the network infrastructures is still relatively less developed Number of Towers /10,000 persons, 4Q17 2.2 2016 +7.3x 18.2 Average: 7.9 Towers 2021F Average Mobile Connection Traffic in Gigabytes (GB)/month 0.5 2016 Source: Cisco VNI +6.6x 3.8 2021F 3.4 3.5 5.9 6.2 6.6 7.2 7.3 7.6 14.2 India IndonesiaS. Korea Australia USA Malaysia Vietnam Thailand China Source: Tower Exchange, EIU, in-house calculation & estimates 4G Adoption (2017) % of Total Connections 10% 21% 26% 47% 71% 75% 82% Philippines India Indonesia Malaysia China Japan S. Korea Source: GSM Association (GSMA) Surging data usage to drive demand for quality telco infrastructure PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 6#7INTRODUCTION TO IN-BUILDING DISTRIBUTED ANTENNA SYSTEM (DAS) What is In-building DAS? Typical Business Model CENTRATAMA GROUP Indoor Antennas Operator BTS Repeater Antenna Pole Coaxial Cables Site Acquisition DAS Installation Site Acquisition - MAC: Pays upfront lease Secures long term exclusivity Exclusivity over vast scope of services related to telecommunication and media MAC SARANA DJAYA MAC provides: Design Equipment sourcing Project management expertise Site maintenance . Outdoor towers cellular signal have limited indoor coverage • DAS "extends" the telco coverage into buildings • Perfect solution for urban area coverage with dense high Tenant 3 TELKOMSEL DAS Infrastructure Rental: Indosat Placement 0000000 Secures long term revenue with operators Fixed rent bases rise building population PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 7#8In-Building DAS GROWTH DRIVERS Network coverage remains the most important factor to mobile subscribers in a 2016 survey... Network Coverage CENTRATAMA GROUP . especially given that 70%-90% of voice and data demand is generated by mobile subscribers' indoor usage Voice and Data Demand % of Usage Indoor 61% Price 52% Longtime User 26% Unlimited Data Plan 23% Corporate Discount Available 19% Wanted a Non-Contract Plan 18% Wider Phone Selection 17% Good Customer Service 14% International Coverage 12% Source: Computerworld Mobile Data Service Survey 2016 Strong construction pipeline of addressable buildings across Indonesia 453 2018E ~70% Voice Source: Indonesian Small Cell Industry Alliance Number of Addressable ¹ Buildings | by year of construction completion 453 2019F Note: 1 Defined as buildings with a minimum 10 storeys or 15,000m² floor area; Source: BCI Asia PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK 370 2020F Company Presentation | August 2018 140 ~90% Data 1,416 2021F Onwards Total Pipeline 8#9COMPETITIVE LANDSCAPE: TOWER Highly Fragmented Market Independent Tower Providers (ITPs) Number of Towers 16,3705 13,500¹ 6,273 #4 1,3501 1,2971 1,0122 4913 MNOs7 & MNOS Affiliated 31,1132 8,6002 CENTRATAMA GROUP MNOS are adopting asset light model % of Towers owned by MNOS vs ITPs6 32% 68% c.5,3004 3,8002 4,0002 Protelindo Tower + KIN Bersama STP Centratama Bali- tower Persa- Gihon dasokka Tama Others Telkom, Indosat Telkomsel, Mitratel XL Others 2012 ITPS ■MNOS 55% 45% 2016 5 Notes: 1 As of end of 1Q18 based on the respective company filing, 2 Estimated tower count based on TowerXchange 2017, 3 As of end of 2017 based on the company filing, 4 Management estimate, Protelindo number of towers as of 1Q18 based on company filing +1,659 (KIN's number of towers as on Protelindo's 2018 result presentation), 6 TBG Global Unsecured Note Offering Circular, DBS Equity Research, in-house calculations, 7 Mobile Network Operators PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 9#10COMPETITIVE LANDSCAPE: In-building DAS c.70% of Indonesia's DAS market is owned by MNOS¹ Estimated c.4,900 in-building DAS installed CENTRATAMA GROUP MAC dominates the independent in-building DAS market Estimated c.1,500 independent in-building DAS installed МЛС SARANA DJAVA MNOS c.70% Independent DAS Players c.30% c.60% Notes: 1 Mobile Network Operators and the affiliated companies; Source: Management estimates of current landscape PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Others c.40% Company Presentation | August 2018 10#11.. 00 Section 2 Company Overview A Leading Infrastructure Provider In Indonesia#12INTEGRATED AND INDEPENDENT TELECO INFRASTRUCTURE COMPANY Telecommunication Tower 4th largest independent tower operator in Indonesia Owns/operates 1,641 towers nationwide with 1.43x tenancy ratio as of June 2018 Stellar growth track record: 54% tower portfolio CAGR from December 2013 to June 2018 1 In-Building Coverage Value Added Services Largest independent operator of in- building distributed antenna system ("DAS") with c.60% share¹ Operates 841 sites across Indonesia with tenancy ratio of 1.79x as of June 2018 DAS MAC (Indoor site) SARANA DIAYA Product offerings utilizing the group's relationships with the building 1 Microcell (Outdoor Site) Fiber Optics managements Internet Service Provider ("ISP") license ■ Triple Play capability Serving 1,321 corporate and retail ISP customers as of June 2018 1 Bundled Indoor and Outdoor 2 BTS Capex sharing for operator 1 Note: ¹ management estimate PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 CENTRATAMA GROUP 2 Operators' BTS 12#13WELL DIVERSIFIED PORTFOLIO Revenue by MNO in 1H18 (1H17) in % (Rp B) Others 11.7% (11.5%) CENTRATAMA GROUP Tower Sites by Geographical Location as of 1H18 (1H17) Kalimantan 5.2% (5.3%) Sulawesi 5.3% (1.5%). Jabodetabek 6.8% (8.8%) Indosat 11.6% (12.2%) Telkomsel 22.4% (17.2%) Hutchison 27.3% (32.6%) XL 27.0% (26.4%) Sumatra 30.2% (21.6%) Java (excl. Jabodetabek) 46.5% (57.5%) In-building DAS Sites by Geographical Location 1H18 (1H17) Bali & Nusa Sulawesi Kalimantan Tenggara 5.6% (5.6%) 2.9% (2.7%) 9.4% (9.4%) Bali & Nusa Tenggara 5.9% (4.7%) In-building DAS Sites by Building Type 1H18 (1H17) Airport Others 1.9% (1.9%) 6.5% (6.5%) University. 5.8% (5.5%) Sumatra 10.2% (10.6%) Java (excl. Jabodetabek) 27.3% (26.1%) Jabodetabek 44.6% (45.7%) Hospital 9.5% (9.6%) Office 12.8% (11.9%) PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 Hotel & Resort 26.0% (26.7%) Mall Apartment 22.7% (23.6%) 14.6% (14.3%) 13#14SENIOR MANAGEMENT TEAM CENTRATAMA GROUP Raymond Yan Chief Executive Officer 14+ years in telecom industry in Indonesia Hartanto Kusmanto Chief Financial Officer 25+ years in Finance Yuana Susatyo Chief Marketing Officer 20+ years in sales & marketing for various telecoms products TKD TRANS KOMUNIKASI DATANET HUAWEI ARTAJASA Coopers &Lybrand (ICI ERICSSON NOKIA ibs Adi Mulyono VP, Implementation 13+ years in engineering and execution Bambang Noegroho VP, Estate Management 15+ years in project management and operations Michael Loebis VP, Human Capital 16+ years in HR NERA PROTELINDO Indofood mandırı HUAWEI MOTOROLA ERICSSON ibs PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Experienced management team Company Presentation | August 2018 PERTAMINA 14#15INCREASING ORDERS FROM BIG 4 OPERATORS Increasing orders from big 4 operators ¹ supported by the service quality Number of Orders Received from Big 4 Operator | Tenancies CAGR 160% 361 154 2015 Note: Big 4 Operators refer to Telkomsel, XL, Indosat and H31 2016 TELKOMSEL PIAGAM PENGHARGAAN TELKOMSEL Piagam Penghargaan DICT tingut Maghargaan kepala PT CENTRATAMA MENARA INDONESIA XL Axiata PMD Most Interactive (2018) The Highest Revenue Growth Bali Nusra Region (2016-2017) PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK TELKOMSEL TELKOMSEL 1,039 2017 CENTRATAMA GROUP TELKOMSEL CERTIFICATE PT. CENTRATAMA MENARA INDONESIA (CM) CERTIFICATE PT. CENTRATAMA MENARA INDONESIA (CMD) Copy 500 CAMACZE RECON 201 Best Partner for B2S Tower (2017) Best TP Non MLA Kalimantan Region (2016) Company Presentation | August 2018 Winner Non MLA TP North Sumatra Region (2016) 2nd Runner Up on MLA TP Collo S. Sumatra (2016) 15#16.. 00 Section 3 Performance Update A Leading Infrastructure Provider In Indonesia#17ROBUST FINANCIAL PERFORMANCE Revenue (Rp B) CAGR 12% 563 648 708 +19% 2015PF¹ 2016PF¹ 2017 400 337 1H17 1H18 Note: The proforma figures include MAC and Fastel's historical figures PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK EBITDA (Rp B) CAGR 27% CENTRATAMA GROUP +26% 467 525 324 313 248 2015PF¹ 2016PF1 2017 1H17 1H18 EBITDA Margin (%) I Improving margin due to gain in the economies of scale +17%pts +5%pts 78% 72% 74% 74% 58% 2015PF1 2016PF1 2017 1H17 1H18 Company Presentation | August 2018 17#18AMPLE DEBT HEADROOM TO SUPPORT EXPANSION (5.1)x (0.2)x 0.8x 424 (14) (208) 2015 2016 2017 Net Debt³ /(Cash), Rp B Net Debt/EBITDA 1.5x1 CENTRATAMA GROUP I I Unutilized I Loan I Facility² I 1,355 954 Jun-18 Note: ¹ Based on annualized 1H18 EBITDA, 2 Based on total facility amount of US$ 195M and FX rate of Rp 14,404/US$, 3 Based on debt figures after adding back the unamortized transaction costs PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 18#19NUMBER OF SITES AND TENANCY RATIOS Tower Sites and Tenancy Ratio In-building DAS Sites and Tenancy Ratio¹ CENTRATAMA GROUP 1.27x 1.24x 1.32x 1.40x 1.45x 1.43x 2.64x 1.82x 1.65x 1.59x 1.63x 1.79x XL-Axis merger impact CAGR 54% 810 581 473 237 1,641 1,290 412 Land Grab Period CAGR 17% Enhanced site selection framework and elimination of legacy contracts 864 842 841 789 643 2013 2014 2015 Tower Sites 2016 2017 1H18 2013 2014 Tower Tenancy Ratio, x 2015 DAS Sites 2016 2017 1H18 DAS Tenancy Ratio, x Note: Based on NQI's historical numbers PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 19#20FINANCIAL & OPERATING METRICS SUMMARY CENTRATAMA GROUP P&L, in Rp B 2015 2016 2017 1H17 1H18 Operating Metrics Dec-15 Dec-16 Dec-17 Jun-17 Jun-18 Revenue 105.0 140.7 708.0 337.0 400.0 Tower YoY Growth 34.0% 403.3% 18.7% # of Sites 581 Cost of Revenue (10.2) (15.2) (21.4) (17.9) (24.4) YoY Growth 810 1,290 39.4% 59.3% 880 1,641 86.5% Gross Profit 94.7 125.5 686.6 319.1 375.7 Tenancy Ratio, x 1.32x 1.40x 1.45x 1.46x 1.43x % of Revenue 90.2% 89.2% 97.0% 94.7% 93.9% YoY Growth 32.4% 447.2% 17.7% DAS (Under NQI) Opex (53.6) (45.6) (161.8) (71.1) (62.9) # of Sites 789 864 842 856 841 EBITDA 41.2 79.9 524.7 248.0 312.8 YoY Growth 9.5% -2.5% % of Revenue 39.2% 56.8% 74.1% 73.6% 78.2% Tenancy Ratio, x 1.65x 1.59x 1.63x 1.44x -1.8% 1.79x YoY Growth Net Profit % of Revenue YoY Growth 94.1% 556.6% (53.4) (29.8) (119.0) -50.9% -21.2% -16.8% -44.2% 299.3% 26.1% (39.9) 68.6 -11.8% 17.2% -272.0% BS, in Rp B Dec-15 Dec-16 Dec-17 Jun-17 Jun-18 Total Asset 1,293.0 1,314.9 4,494.8 4,107.2 5,082.4 Net Debt (Cash) (208.2) (14.1) 424.4 141.6 954.2 Cash Debt¹ 346.9 150.7 367.8 344.5 499.1 138.8 136.5 Net Debt to EBITDA, x² (5.1)x (0.2)x 792.2 0.8x 486.0 1,453.4 0.3x 1.5x Note: ¹ Debt figures after adding back the unamortized transaction cost, the Company's current US$ debt is hedged at the FX rate of Rp 13,510/US$, 2 Jun-17 and Jun-18 ratios are based on annualized first half EBITDA figures PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 20#21END OF PRESENTATION Thank you CENTRATAMA GROUP PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | August 2018 21