Investor Presentaiton

! OUTLOOK CEMENT MARKET OUTLOOK TIGA RODA 45 SMARTER FASTER BETTER SEMEN INDOCEMENT HEIDELBERGCEMENT Group FY 2020 Demand growth is expected to be -9% to -10% (NB: YTD Sept 2020 growth: -9.0%). Some factors that potentially hinder the growth: start of rainy season, demonstration activities against UU Cipta Kerja, Regional Election in December, and the shift of Lebaran holiday at the end of year. Overall Pricing is expected to stay flat. Hongshi has started distributing their product in East Java starting September 2020 with no major disruption on price so far as multi-brand strategy is applied by the home market player Production cost will remain intact following to lower Coal Purchase Index with noted risk of stronger USD against IDR Infrastructure Yearly Spending 41,6 47,3 5,1 3,4 0,0 -28,7 2021: Demand growth is expected +4% to +5% p.a. as we foresee higher bulk sales volume: 414,0 394,0 394,1 381,2 ➤ The Infrastructure budget for 2021 has been raised to pre-Covid level 269,1 ➤ Multiplier effect of Infrastructure will boost Industrial zone and factories development Slide 26 10 November 2020 Public Expose - Indocement 281,1 2018 2019 Outlook 2020* O RAPBN 2021 Growth % 2016 2017 Amount IDR trillion Source: Ministry of Finance

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