#1ASTRA AGRO LESTARI PT ASTRA AGRO LESTARI TBK CORPORATE PRESENTATION May 2016#2AGROSTISTARI Disclaimer You must read the following before continuing. The following applies to the confidential information following this page, the oral presentation of such information, the Q&A session and other materials distributed at, or in connection with, the presentation (the "Confidential Information"), and you (each referred to hereafter as a "Recipient") are therefore advised to read this carefully before reading, accessing or making any other use of the Confidential Information. In accessing the Confidential Information, each Recipient agrees to maintain confidentiality regarding the information disclosed in this document and be bound by the following terms and conditions, including any modifications to them any time each Recipient receives any information from us as a result of such access. 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There will be no public offering of securities in the United States. 2#3ASTRA AGRO LESTARI Company Overview#4AGRO TESTARI Competitive Strengths 1 2 One of the world's largest listed oil palm companies, with a track record of over 35 years and over 235,000 hectares of nucleus plantations across Sumatra, Kalimantan and Sulawesi 3 Diversified portfolio evenly distributed across age groups to maintain optimal productivity, consistent high yields driven by active plantation management and agronomy best practices Application of industry best practices in plantation management techniques, which contributed to improved productivity and CPO extraction rates ASTRA AGRO LESTARI 4 Integrated business model spanning across the value chain, covering upstream, midstream, downstream, and consumer & industrial products 6 5 Strategic planning of palm oil mills and infrastructure to ensure logistics efficiency and maximize CPO quality Experienced management team and strong support from controlling shareholder, PT Astra International Tbk, providing significant synergies#51. Leading Producer of CPO in Indonesia One of the world's largest listed oil palm companies Planted area of 297,862 hectares (end of 2015) which comprises of 235,432 hectares of nucleus plantations and 62,430 hectares of plasma plantations 29 palm oil mills with a combined FFB processing capacity of 1,435 tph (FY2015) Nucleus FFB production of 4,200,513 mt (FY2015) CPO and PK production of 1,736,661 mt and 370,637 mt respectively (FY2015) Plantation Areas (2011-15) 250,000 Nucleus 206,579 200,000 160,849 150,000 100,000 50,000 212,622 174,780 220,021 186,874 235,311 193,708 235,432 196,916 2011 2012 2013 2014 2015 80,000 Plasma 60,127 60,372 61,357 62,268 62,430 60,613 60,000 59,650 61,209 61,620 56,494 40,000 20,000 0 2011 2012 2013 2014 2015 Plantation Composition (2015) By Geography: 17% ■Sumatera 36% ■Planted areas (ha) ■Mature area (ha) Kalimantan ■Sulawesi 47% By Ownership: 21% ■Planted areas (ha) ■Mature area (ha) ■Nucleus Plasma 79% 5#6AGROTESTARI 2. Diversified Portfolio Evenly Distributed across Age Groups The Company has built a diversified portfolio of oil palm trees distributed across various age groups, with 54.1% currently in their Prime Production Years The balance of mature and immature plantations is designed to maintain optimum productivity levels The Company has consistently maintained high nucleus FFB yields of 21.3 mt per hectare in 2015, primarily driven by centralized planning and best agronomy practices which the Company has refined over time Planted areas (ha) Oil Palm Tree Age Profiles as of 31 December 2015 at a Glance 100,000 80,000 86,450 64,106 60,000 51,013 39,326 40,000 30,741 20,000 10,791 0 Immature (0-3 years) Young (4-6 years) Prime I (7-10 years) Prime II (11-15 years) Prime III (16-20 years) Evaluation (21-25 years) Prime Production Years 15,435 Replanting (>26 years) CO 6#73. Application of Industry Best Practices Adopted many industry best practices in our plantations to improve FFB and CPO yields at competitive costs: the use of high quality oil palm seeds the use of fertilizers tailored to the oil palms in each location Using the fertilizer spreader to ensure the fertilizing effectiveness leaf analysis to ensure the appropriate fertilizer dosage High productivity and quality of CPO production by adopting strict control procedures at each stage of the production process Average free fatty acid ("FFA”) content of CPO processed at the Company's palm oil mills was 3.6% in 2013-15, which was lower than the generally accepted industry standard of 5.0% Field personnel trained in the best practices for harvesting and ensuring that the harvested FFB are delivered to the mills and processed in a timely manner Production (mt) Production (mt) Production Performance 5,000,000 4,200,513 4,109,792 4,000,000 3,740,471 3,000,000 35 20 20 Yield (mt/ matured ha) 30 30 25 21.5 21.3 20.0 2,000,000 1,000,000 15 0 10 2013 2014 2015 2,000,000 6 1,743,735 1,736,661 1,538,658 1,500,000 4.8 4.7 4.6 1,000,000 LO 5 Yield (mt/ha) 500,000 328,141 373,265 370,637 0 3 2013 2014 2015 FFB production, nucleus (mt) Yield, nucleus (mt/ matured ha) CPO production (mt) PK production (mt) CPO Yield (mt/ha)#8Outputs 4. Integrated Business Model The Company operates under an integrated business model that spans across the value chain This includes research and development, cultivation of oil palm crops, processing of FFBS, refining of CPO, along with marketing and distribution to downstream customers Through scale, integration and the logistical advantages of its business model, the Company is able to extract margins at every step of the value chain Operating operational synergies and cost efficiencies could be achieved through the integrated business model Upstream Midstream Downstream Consumer & Industrial Products Process & Infrastructure • Seed production Nursery • Palm oil mill Refining Crude palm oil bulking • Fractionation Cultivation • Kernel crushing plant • Trading Harvesting Trading • Trading Seedlings • Fresh fruit bunches (FFBS) • PK • Biomass NPK (Fertilizer) blending plant • CPO Crude palm kernel oil (CPKO) . Palm kernel cake RBDPO ⚫ RBDPKO PFAD • Olein • Stearin NPK (Fertilizer) 8#95. Strategic Planning of Mills and Infrastructure Mills and Infrastructure Aceh Nucleus 11.7K ha Mill Cap. 80tph (2) Riau Nucleus Plasma : 42.2K ha 19.6K ha Mill Cap. 295tph (6) Crusher : 260tpd (3) Refinery 2K tpd (1) 50% JV Jambi Nucleus Plasma Mill Cap. Crusher South Kalimantan 5.0K ha : 28.1K ha Nucleus 35.4K ha Plasma 1.3K ha Mill Cap. 90tph (2) 120tph (2) 200tpd (1) ■FFB processed (mt) 10,000,000 CAGR +8.08% 7,949,275 Central Kalimantan Nucleus 53.0K ha East Kalimantan Nucleus 44.5K ha 8,000,000 6,888,587 Mill Cap. 270tph (5) Crusher 250tpd (2) Plasma Mill Cap. Crusher 4.8K ha 270tph (6) 60tpd (1) 6,000,000 West Sulawesi Nucleus 24.2K ha Plasma : 8.1K ha Mill Cap. Crusher 220tph (4) 150tpd (1) Refinery 2K tpd (1) Central Sulawesi Nucleus Plasma Mill Cap. 19.5K ha : 0.5K ha 90tph (2) 4,000,000 2,000,000 0 2013 2014 8,046,907 2015 The Company is also in the process of constructing a new palm oil mills in Sulawesi. which is expected to be completed in 2017 29 CPO mills and 8 crushers strategically located within close proximity to major ports Ensures timely arrival of FFB with minimal spoilage and reduced transportation costs Access to 4 ports in Sumatra, 6 ports in Kalimantan and 3 ports in Sulawesi Supports by 3 transportation vessels owned by Astra International Group, which allows the Company to exercise control over logistics management with less dependence on 3rd party service providers Company's refineries strategically strengthening its value chain 6#10Directors Commissioner AGRO HESTARI 6. Experienced Management Team The Company's management team has extensive experience in the operation and management of plantations businesses in Indonesia The team has been working in Astra Group for more than 10 years on average Strong focus on corporate governance and shareholder accountability Prijono Sugiarto President Commissioner Vice President Chiew Sin Cheok Johannes Loman Commissioner Soemadi Djoko Anugerah Commissioner Moerdjono Brotodiningrat Independent Commissioner Pekerti Independent Commissioner Widya Wiryawan President Director Committed to shareholder value creation Rudy Bambang Juddy Arianto Palgoenadi Joko Supriyono Jamal Abdul Nasser Independent Director Director Director Director Director Highly experienced senior management team with an established track record Well respected within the plantations industry 10#11AGROSTISTARI 0 6. Strong commitment from controlling shareholder Astra International is one of Indonesia's most well-respected companies with more than 150 subsidiaries, employing more than 156,000 people, currently owns 79.68% issued shares of the Company Astra International has a diversified set of businesses focusing on six core industries: (i) automotive, (ii) financial services, (iii) heavy equipment and mining, (iv) agribusiness, (v) infrastructure, logistics and others, and (vi) information technology Astra International, undertakes to fully subscribe for its pro rata entitlements (79.68%) and act as Standby Purchaser for any unsubscribed rights shares Jardine Matheson Holding Limited Bermuda 83.05% 56.42% ASTRA international HEAVY EQUIPMENT & AUTOMOTIVE FINANCIAL SERVICES AGRIBUSINESS MINING INFRASTRUCTURE, LOGISTIC AND OTHERS INFORMATION TECHNOLOGY Jardine Strategic Holding Limited Bermuda 74.77% Jardine Cycle & Carriage Limited Singapore 50.11% Automobile + Toyota * Daihatsu • Isuzu + BMW • Peugeot * UD Trucks Motorcycle • Honda Automobile • Astra Credit Companies • Toyota Astra Finance Motorcycle ⚫ Federal International Finance Heavy Equipment Construction Machinery • United Tractors Traktor Nusantara • Pamapersada Nusantara PT Astra International Tbk ("Astra International") Indonesia 79.68% PT Astra Agro Lestari Tbk (the "Company") Indonesia Palm Oil Plantation Toll Road • MMS •MHI * MTN • Astra Agro Lestari • TMJ Document Solution • Astra Graphia • SAN Finance Component * Komatsu Astra Finance • Astra Otoparts Banking Logistics * SERA/TRAC Mining Contracting Olein Refinery • Mobil 88 (used) Coal Mining • Tuah Turangga Agung • Tanjung Sarana Lestari • Kreasijaya Adhikarya Commodity Trading + SELOG • Toyofuji Logistics Indonesia Water Utility • Palyja Sea Port • Eastkal Property • Menara Astra Other • Bank Permata Construction Industry + Astra-KLK Pte.Ltd • Anandamaya IT Solution • Astra Graphia Information Technology Office Services • Astra Graphia Xprins Indonesia • AstraWorld Insurance Acset Indonusa • Asuransi Astra Buana • Astra Life Residences 11#12ASTRA AGRO LESTARI PANEN HAR Business and Development Strategies#13AGRO TESTARI Business and Development Strategies A. Continue to improve on the productivity and control costs B. Further development of downstream sector C. Strengthen research & development D. Continue the implementation of sustainability and corporate social responsibility programs E. Continue to develop the quality of human resources 13#14A. Continue to Improve on Productivity and Control Costs Cost Leadership Labour Productivity . • Automation Use of equipment and systems for various process at the mills The support of IT to improve the accuracy and efficiency in production and administration processes • Crop Productivity Mechanization Use of equipment, such as fertilizer spreader, wintors, tractors and transporters are utilised to maintain and improve the consistency of the process for better productivity • Replanting Program To maintain the crop productivity in the future, taking into account : ✓ Crop productivity ✓ Age profile ✓ Mill utilization ✓ Resource allocation Water Management Ensures that no water overflow • reaches the plantations during • During the dry season, the the rainy season water management system ensures the availability of water for the entire plantation area Composting The empty bunches produced from the mill are then processed to be an organic fertilizer The Company has consistently maintained high nucleus FFB yields from 20.0 mt per hectare in 2013 to 21.3 mt per hectare in 2015 in part as a result of these implemented initiatives 14#15AGROSHESTARI B. Further Development of Downstream Sector Capturing Demands of the Export Market CPO 69.8% 2014 Revenue Kernel derivatives 0.2% Refined oil Diversification of revenues PK 11.2% 18.5% PK 11.4% Refined oil 32.7% 2015 Revenue Kernel derivatives 0.4% CPO 55.6% Note: FFB and Others generated less than 0.1% of the sales. Russia China South Korea Pakistan India Bangladesh Philippines Current distribution Indonesia Note: All of the Company's refined products were exported through ASK a JV marketing company between the Company and KL-Kepong Plantation Holdings Sdn. Bhd 101 Strategic JV Partner KUALA LUMPUR KEPONG BERHAD ASTRA AGRO LESTARI Continue to develop marketing and distribution capabilities in conjunction with JV partner KL-Kepong Plantation Holdings Sdn Bhd Astra-KLK currently accounts for 33.2% of sales volumes in FY2015 Entered the downstream market in 2014 and since then, sales of refined oil contributed to the 2nd largest revenue source Further strengthen its distribution network by expanding in existing markets and entering into new markets Increase its existing capacity and refineries to capture demands of export market Continue to take advantage of export taxes and levies in favour of downstream products 15#16AGRO TESTARI C. Strengthen Research and Development The Company has an in-house research and development team which focuses on four main pillars activities: Plant Breeding Developing new oil palm varieties by crossing different types of palms and develop clones to increase productivity and product quality Soil Fertility & Agronomy Research on beneficial microbes which improve the uptake of fertilizer and soil fertility Pest & Plant Disease Prevention Research on best practices for pest and disease control including development of micro-environment which minimizes the usage of chemical pesticides Laboratory Support Research laboratories located in Kumai, Central Kalimantan and other labs in Sulawesi and Sumatra Research & Development 16#17AGRO TESTARI D. Corporate Social Responsibility & Sustainability Implementation of corporate social responsibility program with consistent initiatives targeting the 4 pillars, namely economic empowerment, education, health care and environment: Economic Empowerment Education Padang S Healthcare Environment Partnership with over 53,900 oil palm farmers in almost 2,500 farmers' groups, cultivating over 157,000ha in plantations Training courses were attended by more than 1,000 oil palm farmers Assistance provided to ancillary businesses outside the palm oil industry Managed and built 57 private schools Also managed 10 states schools Employed over 500 teachers, with approximately 12,500 registered students Supported an additional 179 state/private schools with a total of almost 20,000 students 29 Plantation Polyclinics and 8 Secondary Polyclinics supported by over 160 doctors, nurses and midwives Over 3,700 cadres working at more than 880 Public Maternal Health Centers Provision of Children Day Care Centers, health information and other programs in collaboration with the Government The Company is strongly committed to the relevant industry standards: Indonesian Sustainable Palm Oil ("ISPO") Achieved 16 ISPO certifications for its subsidiaries, whereas the next 14 has completed audit and in the process of getting their certifications Aims to achieve full ISPO certification for the remaining plantations Research related to the bio- ecology of species with conservation priority, functional diversity of species and the impact of restoration on biodiversity Provided protection to over 550 species of flora and 520 types of fauna Aims to create a balance and harmony of the ecosystem within the oil palm plantations ISPO 17#18E. Human Resources Development Over 36,000 permanent employees (HQ and plantations) Human capital management focussing on sustainable business growth through improvement of productivity and efficiency on all fronts Initiatives to improve productivity and efficiency include: Attractive incentive and reward system for motivating employees Continuously disseminating info about safety at work Pro FR 5. B Conti Maintaining good industrial relationships Coaching and training to improve technical competence Constant communication and community activities 18#19ASTRA AGRO LESTARI Thank You! ASTRA AGRO LESTARI Rapat Umum Pemegang Saham Tahunan PT. Astra Agro Lestari, Tbk. Jakarta, 14ril 2015 ONO SUPRIYONO BARANG PALOCENA PRIJONO SUGIARTO