#1ROSE BRAND MINYAK GORENG SAWIT DIFORTIFIKASI VITAMIN A A KRISTAL PL Manis & Bersih Membuat masakan menjadi Gurih dan Lezat Superbrands) 2013 ISI BERSIH: 2L ROSE BRAND 902 Berat Bersih 1 kg PREMIUM* GULA TEBU DIPRODUKSI OLEH: PT. ADI KARYA GEMILANG SUNGAI BUDI GROUP LAMPUNG 35244 INDONESIA i oleh: ARU LAMPUNG Tbk ROUP INDONESIA SNI S PT. TUNAS BARU LAMPUNG TBK (IDX: TBLA) Investor Presentation 2020 Mar 2021#2DISCLAIMER These materials have been prepared by PT Tunas Baru Lampung Tbk (the “Company”) 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. The Company or any of its affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever arising from any information presented or contained in these materials. The information presented or contained in these materials is subject to change without notice and its accuracy is not guaranteed. These materials 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. 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 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.#3Company Milestones 1974 2000 2004 2006 2012 2013 2016 2017 2018 Public listing in the IDX. 2nd CPO mill commence operation Join RSPO and extend FOSFA membership Sugar refinery commence operation Sugar mill commence operation PT. Tunas Baru Lampung was established TBLA's first corporate bond issuance Acquired 3rd CPO mill Started oil palm to sugar cane conversion program in Lampung estate First biodiesel plant commence operation Successful issuance of US$200mn global bond and IDR1tn IDR bond 1#4Company Structure Shareholding & Subsidiaries (31 Dec 2020) PT. SUNGAI BUDI (28.08%) PT. BUDI DELTA SWAKARYA (27.19%) PUBLIC (44.65%) OTHERS (0.08%) PT. TUNAS BARU LAMPUNG Tbk (IDX:TBLA) BSA (99.97%) BDP BNIL Oil Palm Plantation (99.99%) Oil Palm Plantation (99.99%) Sugar cane Plantation BNCW (99.90%) Oil Palm Plantation BTLA (99.71%) Oil Palm Plantation AKG (99.80%) Oil Palm & Sugar Cane Plantation, Sugar Mill & Refinery ABM (99.90%) CPO Mill BPG (85.00%) Oil Palm Plantation SJP (99.90%) Oil Palm Plantation SUJ (99.23%) Oil Palm Plantation DGS (29.41%) Sugar Cane Plantation TBLA I (100%) Holding TB I (100%) Investment, Consultation BSA PT. Bumi Sentosa Abadi AKG PT. Adi Karya Gemilang DGS PT. Dinamika Graha Sarana Trade, BDP PT. Budi Dwiyasa Perkasa ABM PT. Agro Bumi Mas TBLA I TBLA International Pte Ltd BNIL PT. Bangun Nusa Indah Lampung BPG PT. Bumi Perkasa Gemilang TB I Tunas Baru Lampung Pte Ltd BNCW PT. Budi Nusa Cipta Wahana SJP PT. Solusi Jaya Perkasa BTLA PT. Bangun Tata Lampung Asri SUJ PT. Samora Usaha Jaya 2#5Business Segments 1. Oil Palm Segment Upstream: Crude Palm Oil Palm Plantation & Mill Туре CPO Mills PKO Mills Downstream: Cooking oil, FAME Refinery (+ Biodiesel) 2. Sugar Segment Mills Sugar Cane Plantation & Mill Sugar Refinery Tons/annum 1,800,000 270,000 Palm Plantation Type Size (Ha) Planted 59,653 Mature 48,468 TOTAL 76,721 Refinery & Biodiesel Type Palm Oil Refinery(1) Biodiesel(2) ROSE BROSE BRAND ROSE BRAND Sugar Mill Sugar Refinery Туре Tons of cane/day Type Tons of cane/day Sugar Mill 8,000 Sugar Refinery 900 Sugar Cane Plantation Туре Size (Ha) Tons/annum Sugar Cane 1,110,000 14,149 Plantation 315,000 GULA KRISTAL PUTIH ROSE BRAND GULA KRISTAL PUTIH GULA KRISTAL PUTIH ROSE BRAND ROSE BRAND 6 ROSE BRAND ROSE BRAND PREMIUM ALITY PREMIUM 3 NETTO:50 KG SNI#6Sales & Revenue Highlights IDR/USD at Rp14,000 for illustration purpose FY2020 - REVENUE Rp10.8tn / USD776mn FY2020 "Others" include: CPO, 3.3% 5.0% Margarine, Soaps, 4.5% Palm expeller, 2.8% Glycerin, Biogas, Molases ■SUGAR COOKING OIL 31.2% 25.1% 11.9% DOMESTIC (IDR) BIODIESEL ■ РКО 29.5% DOMESTIC (USD Linked) 58.6% STEARINE EXPORT (USD) OTHERS FFA 28.1% FY2019 - REVENUE Rp8.5tn / USD610mn FY2019 "Others" 2.5% include: CPO, 7.4% Margarine, Soaps, Palm expeller, Palm kernel, 5.7% Biogas, Molases 4.4% 26.1% ■SUGAR 19.1% 31.9% COOKING OIL ■BIODIESEL ■ РКО 52.6% STEARINE OTHERS 28.4% 22.1% ■FFA 4 □ DOMESTIC (IDR) I DOMESTIC (USD Linked) EXPORT (USD)#7Plantation Profile Estate Location & Size - 31 December 2020 SUMATERA LAMPUNG Oil Palm Nucleus Mature PALEMBANG Oil Palm Nucleus Mature 11,242 7,473 PONTIANAK Nucleus Mature Immature 6,078 Unplanted 10,835 Immature 1,755 Unplanted 1,075 Oil Palm Plasma Total 8,908 Mature Unplanted 2,680 72 Total Oil Palm 32,302 Sugar Cane Landbank Planted 6,000 724 18,676 Immature 1,957 Unplanted 5,086 Oil Palm Plasma Mature 9,792 Total Oil Palm 35,511 Sugar Cane Landbank 18,518 Planted 13,425 5 TOTAL OIL PALM Oil Palm Nucleus BORNEO Immature Mature 35,996 11,185 Unplanted 16,996 Total 64,177 Oil Palm Plasma Mature 12,472 Unplanted Total 72 12,544 Total Oil Palm 76,721 JAVA SUGAR CANE Landbank 24,518 Planted 14,149#8Oil Palm Age Profile Hectares 31 Dec 2020 - Lampung 19,659 7,473 Palembang 7,455 3,851 2,616 4,477 3,321 1,957 1,011 0 0-3 4-9 10-14 15-19 20+ 0-3 4-9 10-14 15-19 20+ Pontianak Total 19% 15% 17% 6% 33% 4,021 19,659 2,057 1,755 15,953 11,185 9,229 3,627 0 0 0-3 4-9 10-14 15-19 20+ 0-3 4-9 10-14 15-19 20+ 6#9Production Facilities TBLA is an integrated manufacturer of oil palm and sugar products with well-invested mills, refineries and factories strategically located throughout Indonesia. Margarine Tons/annum Tons/hour Location East Java Medan Riau Pontianak 36,000 6 Padang Biodiesel Bengkulu Location Tons/annum Tons/day Palembang Lampung 315,000 1,050 Lampung* 450,000 1,500 Lampung TOTAL 765,000 2,550 CPO Mill PKO Mill *Under construction (Exp completion 2Q2022) CPO Mills Location Tons/annum Tons/hour Location FFA Esterification Plant Tons/annum Tons/day East Java Palm Cooking Oil, Stearin & PFAD Facility Soap Factory Margarine Factory Sugar Mill Sugar Refinery Biodiesel Plant Lampung 1,125,000 225 Lampung* 30,000 100 Soap Palembang 450,000 90 *Under construction (Exp completion 2Q2021) Pontianak 225,000 45 Palm Oil Refinery TOTAL 1,800,000 360 Location Tons/annum Tons/day Location Lampung Palembang Tons/annum Tons/hour 13,750 2.25 Sugar Refinery 13,750 2.25 Location Tons of cane/day TOTAL 27,500 4.5 Lampung 510,000 1,700 PKO Mills Lampung 900 Lampung* 750,000 2,500 Location Lampung Palembang Tons/annum Tons/day Refined Glycerin Plant Palembang 300,000 1,000 210,000 700 Sugar Mill East Java 300,000 1,000 Location Tons/annum Tons/day 60,000 200 TOTAL 1,860,000 6,200 Lampung* 36,000 120 TOTAL 270,000 900 Location Lampung Tons of cane/day 8,000 *Under construction (Exp completion 4Q2021) *Under construction (Exp completion 2Q2021) ས 7#10Production Facilities Oil Palm Mill (45 ton/hour) - Sukadana, Lampung STERILIZER LOADING RAMP STORAGE TANK CPO NO1 STORAGE TANK CPO NO:2 STORAGE TANK 8 PABRIK PKS 6#11Production Facilities New Oil Palm Mill (45 ton/hour) - Pontianak, West Kalimantan 9#12Distribution Platform Padang Bengkulu Medan Riau Pontianak Lampung Palembang East Java TBLA operates 23 marketing offices across Indonesia, with access over 48,000 distribution outlets. ROSE BRAND MINYAK GORENG FORTE 57 BRAND NYAK GORENG FORTE Gurih, Lezat dan Sebal BERAT BERSIN 2000 ROSE BRAND VITA OSE BRAN MINYAK GORENG ROSE BRAND MINYAK GORENG 2X ROSARINGA MINYAK GORENG 30 MAY 20 ROSE BRAND ROSE BRAND Gurih, Lezat dan Sehat EXPE BERAT BERSIH SL BRAND GORENG RAT BERSIH 18#13Palm Oil Production Highlights FFB Harvest Volume ('000 Ton) Nucleus Plasma ■3rd party purchase 1002 829 702 620 693 219 382 172 215 197 157 149 646 723 542 593 480 367 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 Cooking Oil (Ton) 264,180 271,255 276,889 215,872 223,090 208,048 TILITI FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 CPO (Ton) 374,692 335,134 295,768 281,638 240,081 222,040 ו FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 Biodiesel/FAME (Kilo Liter) 297,469 294,545 157,326 96,526 69,085 FY2016 FY2017 FY2018 FY2019 FY2020 11#14Sugar - Industry Dynamics 1 Refining Milling CANE PLANTATION IMPORTED RAW SUGAR NOTE: Governed by quota system through Ministry of Trade SUGAR MILL SUGAR REFINERY Indonesia's sugar production vs consumption (Million Ton) GULA KRISTAL PUTIH GULA KRISTAL PUTIH ROSE BRAND PREMIUM PREMIUM SUGAR GULA KRISTAL PUTIH ROSE BRAND NETTO:50 KG SNI SUGAR 7.05 7.20 Consumption Production 6.80 5.33 5.52 5.62 5.70 5.80 6.00 4.70 4.76 4.25 4.34 4.50 4.00 4.10 3.34 2.78 2.10 2.24 2.30 2.45 2.60 2.59 2.54 2.58 2.28 2.26 2.40 2.20 2.10 2.17 2.22 2.13 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 12 2015 2016 2017 2018 2019 2020 Source: Kontan, Kemendag, Agroindonesia, 2020 consumption based on USDA estimates#15Sugar - Industry Dynamics 2 Sugar Price (IDR/Kg) 9,700 8,900 9,100 9,100 9,100 9,100 8,100 8,100 8,250 7,000 6,350 6,032 6,161 5,986 5,681 5,350 5541 5,064 4,779 4,885 4,502 4,342 4,458 4,441 4,656 4,307 4,423 4,634 4690 3,699 3,688 3,326 3,307 3,549 3,704 3585 April 09 April 10 April 11 April 12 April 13 April 14 -Indonesia's sugar floor price (HPP Gula - Deperindag) April 15 April 16 Raw sugar (CSCE Sugar #11) April 17 April 18 April 19 Apr-20 -Refined sugar (London white sugar #5) Note: •Indonesia's floor price for sugar is set by the Ministry of Trade before the start of the milling season in April of each year. •Raw sugar price as quoted on the New York Coffee, Sugar and Cocoa Exchange (CSCE). •Refined sugar price as quoted on the LIFFE ⚫For illustration purposes, Price for International raw and refined sugar were converted from USD/Pound to IDR/Kg based on the average USD: IDR exchange on the first week of April of each particular year: April 2009 = Rp11,200, April 2010 = Rp8,880; April 2011 = Rp8,460; April 2012 = Rp8,960; April 2013 = Rp9,500; April 2014 = Rp11,100, April 2015 = Rp12,900, April 2016 = Rp13,182, April 2017 = Rp13,200, April 2018 = Rp14,000, April 2019 = Rp14,000 SUGAR CONSUMPTION PER CAPITA 2015/2016 (KG) 57.2 56.2 50.5 38.3 33.9 21.8 21.7 21.5 Malaysia Singapore Australia Thailand USA Philliphines Indonesia Vietnam 13 Source: USDA sugar consumption#16Integrated Sugar Production Plantation, Mill & Refinery SUGAR MILL - Capacity 8,000 TCD (Ton Cane Day), or + 100,000 ton of sugar per annum LAMPUNG PT. AKG PT. BNIL PT. TBL SUGAR REFINERY - Capacity 900 TON/DAY (324,000 TON/ANNUM) 14#17Sugar Cane Plantation Accelerated Growth Cane Plantation (Ha) 14,149 12,105 12,493 10,640 10,455 7,929 4,516 1,305 1,736 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 15#18Sales highlight ■FY2020 FY2019 +8.8% 290,727 Sugar SALES VOLUME (TON) +34.3% +6.6% 308,278 267,204 281,467 289,145 209,595 Cooking oil FAME (Biodiesel) ■FY2020 FY2019 ASP (IDR/Kg) +14.4% +20.2% +15.0% 11,659 10,188 10,827 9,004 8,855 7,698 Sugar Cooking oil FAME (Biodiesel) 16#19P&L Highlight IDR millions REVENUE 8,975 8,615 8,533 6,514 10,863 1,104 OPERATING PROFIT 1,825 1,752 1,694 1,425 FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020 1,444 EBITDA 2,533 2,371 2,226 2,223 621 NPAT 979 764 661 681 FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020 17#20Quarterly P&L IDR billions 2,141 1,862 2,288 2,324 Revenue Operating profit 2,922 496 2,765 2,797 442 444 425 418 2,379 398 410 409 394 2,173 2,223 2,188 370 1,949 188 550 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 EBITDA 722 588 528 533 718 591 593 596 603 616 531 508 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 203 NPAT 223 204 190 156 158 148 143 102 219 ili 276 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 18#21EBITDA tracking IDR billions 779 678 655 476 495 403 352 203 192 214 1,096 873 1,444 2,533 2,371 2,226 2,223 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Sugar refinery commenced operation 19 Biodiesel plant commenced operation Sugar mill commenced operation#22Leverage Matrix Debt Coverage Ratios 4,394,495 2,887,355 FY2015 872,735 5,653,790 Net Debt/Equity 1.55 1.52 1.33 3,652,984 FY2016 1,443,513 Net Debt Figures in IDR Millions 5,646,467 4,256,654 FY2017 2,226,108 Equity EBITDA 7,158,706 4,783,616 2,371,393 7,519,193 5,362,924 FY2018 FY2019 Net Debt/EBITDA 1.54 1.50 5.04 1.40 3.92 3.38 3.59 3.02 3.91 2.54 9,083,010 5,888,856 2,533,274 2,222,897 FY2020 EBITDA / Interest Exp 5.14 4.79 3.51 3.20 3.06 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 20#23Contact Us For further information, please contact: Eric Tirtana Mobile : (+62) 858 8024 2328 Email : [email protected] Phone Fax : (+62 21) 521 3383 : (+62 21) 521 3392 www.tunasbarulampung.com Strengths Through Integration#24APPENDIX - Management Profile A D Board of Commisioner B C Board of Directors G H E F | A. SANTOSO WINATA President Commisioner Indonesian. Joined Sungai Budi Group in 1982. Mr. Winata is also the Vice Chairman of Sungai Budi Group and President Director of PT Budi Starch & Sweetener Tbk since 1987. He has been the President Commissioner of TBLA since 1990. B. OEY, ALBERT Commisioner Indonesian. Joined Sungai Budi Group since 1998. Mr. Oey is also a director at PT Budi Starch & Sweetener Tbk. He was appointed as Commissioner of TBLA in 1999. C. JUSTINUS ADITYA SIDHARTA Commisioner Indonesian. Joined the Company since 2016 as an Independent Commissioner. His past and current appointment include: Independent Commisioner at PT. Catur Sentosa Adiprana Tbk (2015 - Present), Managing Director at justinus a Sidharta CPA firm (2011 - present), Deputy Managing Director at Johan Malonda Astika & Partnerts (1998 - 2010).#25APPENDIX - Management Profile D. WIDARTO President Director Indonesian. Joined Sungai Budi Group in 1966 and appointed as Chairman of the group in 1985. Mr. Widarto has been in charged as President Director of TBLA since 1986. He is also currently the President Commissioner of PT Budi Starch & Sweetener Tbk. E. SUDARMO TASMIN Deputy President Director Indonesian. Obtained Master of Economic degree from Trisakti University in 1981. Started his career as auditor in Public Accountant Firm Santoso Reskoatmojo (1981-1982) before serving as internal auditor in PT. Inti Salim Corpora (1982-1984). Mr. Tasmin joined Sungai Budi Group in 1984 and was appointed as director in 1986. Mr. Tasmin was put in charge as Deputy President Director of TBLA in 1999. He also presently serves as Vice-President Director of PT Budi Starch & Sweetener Tbk. F. OEY, ALFRED Director Indonesian. Obtained Bachelor of Science in Business Administration Major Finance of Ohio State University, Colombus, USA in 2000. Joined Sungai Budi Group in 2000 and was appointed as the Director of TBLA in 2002. G. DJUNAEDI NUR Director Indonesian. Obtained Master of Economic degree from Trisakti University in 1978. Previously served as Manager of Administration and university instructor of Economics Faculty both at Trisakti University (1972-1982). He joined Sungai Budi Group in 1982 and was appointed as General Manager in a number of Sungai Budi group companies until 1990. He was appointed as Director of Sungai Budi Group since 1991, Commissioner of PT Budi Starch & Sweetener Tbk since 1994 and Director of TBLA since 1997. H. MAWARTI WONGSO Director Indonesian. Obtained Bachelor of Economics from Trisakti University, Jakarta. Started her career at Malonda & partners public accountant in 1990. Joined Sungai Budi group in 1994 as a financial controller. Ms Wongso previously served as corporate secretary at PT. Budi Starch & Sweetener Tbk up until 2015. I. MURUGAIAH PERIASAMY Director Malaysian. Joined TBLA Board of Director in 2018. Obtained executive master degree in plantation & estate management from e-Malaysia University. Started his career in Guthrie Malaysia in 1972 as senior conductor. Joined Sungai Budi in 1998 as Plantation Manager and holds various position within the group over the last 20 years. Last position hold was plantation general manager from 2015 - 2018. J. CHIN POH PENG Director Malaysian. Joined TBLA Board of Director in 2018. Obtained bachelor degree in agriculture from Malaysia Agriculture University. Worked for Guthrie Malaysia from 1979 to 1997 where last position hold was agronomist consultant. Joined Tropicrop group as CEO from 1997 up until 2010. Worked for PT. SMART Tbk as Head agronomy audit & advisory up until 2014. Joined Sungai Budi group in 2016 as Head of Plantations.#26APPENDIX 74 Global Production-Indo Production-Indo Export-Total Indo Consumption (Inc Biodiesel) Indo biodiesel 59 65 55 70 73 74 47.6 48 47 42 35.5 34.7 35 35 34.5 32.2 27 26.4 19 B30 15.6 12.2 9.6 9.6 10 7 6.6 3.6 3.4 4 1.6 B20 2015 2016 2017 2018 ! 2019F 2020F Source: GAPKI, Oilworld#27APPENDIX 16 14 INDONESIA: Booming Dom. Palm Oil Usage for biodiesel production other uses (primarily food) 12 10 8 6 4 2 0 2005 2007 2009 2011 2013 2015 2017 2019F Source: Thomas Mielke, ISTA Mielke GmbH, Oil World, Globoil India 26 Sep 2019#28APPENDIX Indonesia Export Levy Adjustment Palm oil (Ministry of Trade Reference Price) <670 695 720 745 770 795 670- 695- 720- 745- 770- 795- 820- 820 845 870 895 920 945 970 995 845- 870- 895- 920- 945- 970- >995 USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t Palm oil Ref price 670 695 720 745 770 795 820 845 870 895 920 945 970 995 1,020 Before 10Dec2020 CPO 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 RBD Palm Olein 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 RBD Palm Oil 25 25 25 25 25 25 25 25 25 25 25 25 25 25 Biodiesel 25 25 25 25 25 25 25 25 25 25 25 25 25 25 53225 After 10Dec2020 CPO 55.0 60.0 75.0 90.0 105.0 120.0 135.0 150.0 165.0 180.0 195.0 210.0 225.0 240.0 255.0 RBD Palm Olein 35.0 40.0 52.5 65.0 77.5 90.0 102.5 115.0 127.5 140.0 152.5 165.0 177.5 190.0 202.5 RBD Palm Oil 25.0 30.0 42.5 55.0 67.5 80.0 92.5 105.0 117.5 130.0 142.5 155.0 167.5 180.0 192.5 Biodiesel 25.0 30.0 42.5 55.0 67.5 80.0 92.5 105.0 117.5 130.0 142.5 155.0 167.5 155.0 167.5 180.0 192.5 Source: Indonesia Ministry of Finance decree No. 57/PMK.0.5/2020