#1CORPORATE PRESENTATION FY23 PT Dayamitra Telekomunikasi Tbk Mitratel by Te kom Indonesia#2M Mitratel by Telkom Indonesia DISCLAIMER This presentation has been prepared by PT Dayamitra Telekomunikasi Tbk (the "Company") solely for use of the persons to which this presentation is addressed in connection with informational meetings held with the Company. By attending the meeting, or by reading the presentation slides, you agree to the following limitations and notifications and represent that you are a person who is permitted under applicable law and regulation to receive information of the kind contained in this presentation. This presentation is strictly confidential to the recipient, may not be reproduced, retransmitted or further distributed to the press or any other person, may not be reproduced in any form and may not be published, forwarded, distributed, in whole or in part, for any purpose. Publik#3MITRATEL COMPANY HIGHLIGHT Biggest Tower Owner in SEA countries¹) with 38,014 tower and Tower consolidator champion with the successful acquisition of ~22K tower²) assets since 2019 Fastest Growing Independent Tower Operator in Indonesia Industry leading growth (YoY) with "triple double-digit" growth Revenue 11.2% EBITDA 12.7% Net Income 12.6% Committed to drive business sustainability and promoted ESG Implementation proven by Sustainalytics' ESG Rating 22.0, top amongst peers Notes: 1) By number of tower owned 2) Including IOH tower acquisition in March 2023 ✓ Mitratel by Telkom Indonesia We are included in 10 reputable IDX indices, including LQ45 In Feb 2024. Highest market share from MNO roll-out, both fiber and Tower, where Tower's market share is 45% and fiber 32% Entering Fiber to the Tower (FTTT) business as a strong emerging player with 32.5K Km has been deployed & owned 3#4CONTINUING GROWTH MOMENTUM Key Industry Dynamics MNO Coverage Expansion To Ex-Java XL Axiata, IOH, and Smartfren are focused on nationwide coverage expansion and prefer Towercos with a large ex-Java presence for colocation (faster and more cost efficient vs. B2S). Asset Carving Out & Network Managed Services MNOS transform towards light-asset company by carving out their asset started from Tower, Power, DAS and the next will be fiber and active equipment in tower premises including BTS then managed service their network needs. M Mitratel by Telkom Indonesia Mitratel is committed to continuing growth momentum by leveraging our capability through portfolio development to reach our vision as #1 Digital InfraCo in emerging APAC market by offering sustainable best-in-class services Inception Present Expand XG Tower Fiberization and Power-as-a-Service (PaaS) Mitratel strong entry to tower fiberization services and pursue Paas, both of which are growing, shareable, and parts of Tower Ecosystem. XG Related Infrastructure Support New services demand, such as Small Cell, IoT, Multi- access Edge Computing, are increasingly high to support rapid grow of XG network implementation. Non Terrestrial Network as Complimentary Services building strategic partnerships to provide NTN services (LEO Satellite or HAPS) as a complementary telco solution for rural areas, emergency communications, and other specific needs. 00 Firming Fundamental: Traditional TowerCo The Largest Tower Provider in Southeast Asia (38K Tower) with preferred colocation in ex-java (58% of tower) More Independent & Open to Capital Market Financing thru IPO Acquire 23K tower since 2019 Enhanced Digitization & Security Platform Investing For Future: InfraCo Aggressive organic fiber deployment (25k km fiber) Acquire 7K km fiber to support fiber business Provide Power as a Services to complement tower bundling offering Enhance Managed Services Capability for Telco Infrastructure Driving Sustainability: Digital Infraco New Product on xG Network as a passive infrastructure business complementary (Small Cell, IoT, Edge Infra Solution, Active Infra Sharing, Non-Terrestrial Network) Drive Business Sustainability with Improving ESG Risk Rating Maintain HR excellence productivity through Capability Roadmap Implementation 4#5MITRATEL PROVEN TRACK RECORD 自 Track record of organic growth in built-to-suit towers 2,718 461 386 1,172 1,362 1,651 2,142 1,267 280 670 796 1,127 682 CAGR 2010 - FY23 42% 14,193 14,875 12,270 11,320 11,600 13,066 10,053 7,911 6,260 4,898 2,879 3,340 3,726 161 Highest market share from MNO roll-out Others 55% M Mitratel by Telkom Indonesia MTEL 45% MTEL 32% B2S & Colo 20231) Fiber 2023 Others 68% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Proven execution track record of growing colocations on our portfolio Tenancy ratio (x) (•) 1.65 1,71 1,78) 1,85 (*) 1.44 1.26 1.14 1.02 1.09 1.10 1.11 1.14 1.18 1.02 1.51 1.47 1,51 1) Based on rollout 3 big MNO (TSEL, IOH, and XL) Significant colocation potential in tower portfolio Key beneficiary of MNO's ex-Java rollout with 11.7% tenant Growth in Ex-Java. 2010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021A 2022A 2023A Notes: *) Excluding the acquisition of 4.139 sites from Telkomsel in 9M 2021, 4.000 sites from Telkomsel in 9M2021, 6.000 site from Telkomsel in 9M2022, and 997 site from IoH 1Q2023. ( ) Attractive colocation of existing towers with 40% Colo market share in FY2023. Tower, Fiber, and Paas bundling product to increase value for our customers. LO#6OPERATIONAL HIGHTLIGHTS FY22 FY23 7.3% 10.4% 95.4% 57.409 38.014 52.006 32.521 35.418 16.641 Fiber (km) # of Towers # of Tenants Tower and tenant growth is the highest in Indonesia driven by strong organic development and smart inorganic activities 16.588 15.3% 19.395 62% Java Ex-Java MMitratel By Tekom Indone 38% # of Colocation Proven track record of attracting colocation where 62% of total order are deployed in ex-Java, the new epicentrum of growth. 1.47 1.51 Tenancy Ratio **growth basis Year on Year ✓ Mitratel by Telkom Indonesia Sumatra Kalimantan Sulawesi Tower 10,912 Tenant 15,916 TR 1.45 7.8% 11.8% Tower 3,605 6.7% Tenant 5,191 8.4% Tower Tenant 3,472 9.9% 5,105 12.1% TR 1.44 TR 1.47 Fiber 6,019km 166.5% Fiber 3,343km 1550% Fiber 7,027km 80.2% A 100 Java Bali & Nusa Tenggara Maluku & Papua Tower 15,777 6.9% Tenant 25,656 8.8% Tower Tenant TR TR Fiber 1.63 15,100km 55.6% Fiber 2,606 8.1% 3,838 19.8% 1.47 1,032km Tower 1,642 3.8% Tenant 1,703 3.8% TR 1.04 79.6% Tower network in the Java region Largest tower network in the ex-Java region # of towers 15,777 % portfolio 42% Tenancy ratio 1.63x 22,237 58% 1.43x 6#7PERFORMANCE HIGHLIGHTS Financial Performance FY23 FY22 FY23 (in IDR bn) **growth basis Year on Year ((Q)) 11.2% 12.7% 8,595 7,729 Revenue in IDR billion 6,922 6,142 M Mitratel by Telkom Indonesia Operational Performance FY23 P 2,596 New Tower (Total Tower FY23: 38,014) ('R') 12.6% 1,785 2,010 EBITDA Net Income EM NIM 79.5% 80.5% 23.1% 23.4% 5,403 New Tenant (Total Tenant FY23:57,409) 32,521 Km RFS (25.5K km Organic and 7.0K km Inorganic) RFS is Ready for Service 7#8TOWER BUSINESS CONTINUED TO GROW STRONGLY M Mitratel FY22 FY23 (in IDR bn) by Telkom Indonesia Tower Leasing Revenue increased by 12.0% to Rp7,136 billion driven by growth of tower & colocation lease revenue, including from towers acquisition in 2023. Fiber YoY 12.0% from 82% to 84% of revenue 6,371 7,136 to 2% Revenue increased to Rp207 billion during the period driven by organic deployment of Dark Fiber as well as inorganic action. from 0% of revenue 207 Tower Related Business Revenue of Rp624 billion, or decreased by 5.3% from last year as we more selectively capture tower related opportunities with a higher margin. from 9% to 7% of revenue 659 YOY-5.3% 624 Reseller YOY -10.1% Revenue decreased by 10.1% YoY to Rp628 billion during the period driven by renewal of reseller contract. from 9% to 7% of 699 revenue 628 Reseller business line will be naturally phased out in the next few years due to consolidated market trend. 8#9MANAGEABLE EXPENSES FY22 FY23 YoY 9.8% YOY 8.3% 4,576 4,956 YoY 5.4% 2,989 3,282 1,587 1,673 ☐ ■ ☐ Total Expenses (OPEX + DA) Operating Expenses D&A M Mitratel by Telkom Indonesia Planning & O&M towers increased 4.8% aligned with addition of tower, Mitratel successfully managed expense growth far below the growth in tower leasing revenue. Construction and PM decreased by 4.3% in line with the company's strategy to be more selective in capturing Tower Related-Business with better profitability and increase portion revenue of construction & project management. G&A increased by 9.1% growth driven by consultant fees and activity as public company. Employee compensation increased by 9.4% YoY partly driven by tax incentives allowances due to changes in prevailing regulations and inflation. Other costs increased 78.4% mainly due to significant reduction of long outstanding AR allowance expense in 2022 Depreciation increase contributed by the extension of tower useful life, and Amortization mainly increase due to new Tower in from organic and inorganic activity. FY22 FY23 Operating Expenses YoY 5.7% YoY 14.5% YoY 4.8% YOY -4.3% 1,585 1,674 1,608 1,404 YOY 9.1% YoY 9.4% YoY 78.4% 487 510 531 508 265 289 253 276 51 91 Planning and O&M Towers Construction & Project Management General and Administrative Employee Compensation Others Expenses Depreciation Amortization (in IDR bn) 9#10HIGH QUALITY CUSTOMERS WITH SIGNIFICANT BACKLOG Mitratel Independent TowerCo with 88% of revenue from the largest MNOS in Indonesia underpinned by a strong anchor tenant by Telkom Indonesia Revenue backed by high quality customers Others 5% Gr. 16.2% 9% Telkom XL Axiata Gr. 1.9% 10% →Telkomsel Gr. 10.7% Mitratel 56% by Telkom Indonesia Gr. 10.5% Indosat Ooredoo Hutchison 20% Gr. 17.0% Revenue breakdown (FY23) Strong future revenue visibility ~75% Long Tenancy Expiry Schedule 12% 0-2 years of our contracts has more than 4 years until expire. M Mitratel +6 years by Telkom Indonesia 62% Highest market share from MNO roll-out 13% 2-4 years 13% 4-6 years MTEL TP 1 TP 2 Other TP CAGR 18-FY23 22% 44,267 46,477 MTEL share of B2S / Colo in FY2023 MNO roll-out is 45% 33,794 55% 15% 27,256 B2S: 64% 17,019 18,848 21% B2S: 0% Colo: 50% B2S: 0% Colo: 41% Colo: 19% 6% TSEL 19% XL 0% IOH¹) 6% 41% 50% 2018 2019 2020 2021 2022 FY23 29% 33% 1) Excluding Relocation Right to Tower Provider 25% 10#11SUPERIOR BALANCE SHEET & CASH FLOW Mitratel Leverage Industry MTEL 4.9 4.6 4.6 3.8 2.8 2.2 1.5 -0.2 2020 2021 2022 2023 Healthy leverage ratios (Net-Debt to EBITDA) with ample capacity to increase Component (IDR bn) Cash FY22 FY23 Covenant Bank Recurring Free Cash Flow ✓ Mitratel by Telkom Indonesia CAGR 18-23 25% 4,752 3,849 3,108 2.823 1,848 1,560 2018 2019 2020 2021 2022 2023 Notes: 6,354 879 FCF = EBITDA - (Maintenance Capex+Interest Expense+Tax+Capitalized rent) EBITDA 6,142 6,934 Debt 15,290 15,956 Fixed DCM Equity 33,807 37,044 4% Debt to Equity (x) 0.47 0.47 < 5.00 41% Resilient capital 50% Debt to EBITDA (x) 2.49 2.30 < 5.00 59% structure in Private 4.4 yrs 42% SOE Net debt to EBITDA (x) 1.46 2.17 < 5.00 Floating MTEL debt as of FY23 the midst of rising interest rates. Banks Avg maturity Banks 4% Foreign Banks Debt maturity & Lender Profile All Debts are clean basis and in IDR currency 11#12PROMOTE ESG FOR A SUSTAINABLE FUTURE ESG Risk Rating Corporate Governance GCG implementation • Policy Enhancement ESG Improved ESG Score by Sustainalytics 34.5 High Risk 22.0 Medium Risk Severe 40+ High Medium 30-40 20-30 Low 10-20 Negligible 0-10 ESG Risk Rating, emission reduction and reduce waste Ranking Telecommunication Services Percentile of 26th Global Universe Percentile of 37th Source: Sustainalytics data as of 6th February 2024 RULES Inh • Human Rights Policy within Mitratel Group Anti-discriminatory & Anti-Bribery Diversity Policy Career Development Policy for Employees Product Governance Certified Quality Management System ISO 45001:2018 Management system ISO 31000:2018 Risk Management ISO 9001:2015 Quality Standard ISO 27001:2013 IT Management system ISO 37000:2013 Anti Bribery ISO 14001:2015 Environmental Management System Reduce waste produced -32% LI-ION -460 sites VRLA Lithium converted Carbon Own Operations Reduce emission from Scope 1 and 2 by 25% and 9% YoY, Renewable Energy Programmes Human Capital • ✓ Mitratel by Telkom Indonesia Achieved TOP Human Capital Awards 2024 Gender Equality Improvement 54% female newly recruited employees Increase from 28% in FY22 recruitment. ✓✓ ⚫ Employee Scholarship Programs Business Ethics Anti-Fraud & Whistle-Blowing • • • Business Ethic Programs Fraud management system Whistle-blower management system Human Rights -Supply Chain Involving supplier as a part of our business process for upholding fundamental human rights Corporate Social Responsibility Clean Water and Sanitation Programmes Social Donation Programmes 12#13INDUSTRY DYNAMICS IN 2024 % Tower Industry Trend Tower industry revenue growth is projected at 4% Economic Uncertainty High inflation and interest rate environment M Mitratel by Telkom Indonesia GUIDANCE COMPANY FOR 2024 High Single Digit Revenue & EBITDA Increase 5.6Tn CAPEX Plan (81) (18) (181) MNOS Tightened Spending TTX Delay on 5G, cost efficiency strategy, Network Sharing New Technologies Small-Cell, IoT, Edge Computing and Non-Terrestrial Network 4K Tenant Add 10K KM Fiber Optic Deployment 13#14✓ Mitratel by Telkom Indonesia THANK YOU PT Dayamitra Telekomunikasi Tbk Gedung Telkom Landmark Tower Lt. 27 The Telkom Hub, Jl. Gatot Subroto No.Kav. 52, West Kuningan, Mampang Prapatan South Jakarta City, Jakarta 12710 Indonesia ☑ Telephone: (62-21) 27933363 [email protected] www.mitratel.co.id Publik