Investor Presentaiton

Marketing Sales Result and FY23 Outlook & Guidance Marketing Sales & Other Highlights 2020 & 2021 Marketing Sales: Rp898bn → Rp 1,418bn • • 2020 down 46% vs 2019 due to the Covid-19 pandemic 2021 up 58% vs 2020 - 101% of target achieved 2022 Marketing Sales: Rp1,717bn (101% of target) . • Rp922bn Cikarang/others: 61% industrial 39% others) Rp794bn Kendal (93%) & other JVs (7%) 9M23: Rp1,727bn Marketing Sales achieved, 86% of FY23 Target of Rp2,000bn: • • Increase of 18% vs 9M22 (Rp 1,459bn) Cikarang/others contributed 34% and Kendal 66% to 9M23 performance Industrial products contributed 86%, residential, commercial & others 14% Infrastructure - 9M23 volumes mixed • • • Water & wastewater down ~17% (resi now mostly done by PDAM), but tariffs up → revenue up >10% yoy Electricity volume increased 6% yoy Dry Port throughput down 13% yoy mainly due to regulatory changes, revenue down 8% (higher revenue per TEU) • 2022 vs 2021: +~7% water, +~12% power, +~6% port • 2021 vs 2020: +~10% water, +~14% power, +~13% port Leisure & Hospitality • Small contributions to earnings/cashflow material - not very Cash Flow Guidance / Overview: 2023 Cash inflow Guidance: • • • Rp1,850bn - - 50% Backlog (70% Cikarang/others - 30% Kendal) - 50% New Sales (60% Cikarang- 40% Kendal) Rp450bn Recurring EBITDA from power, water, port and other recurring businesses Rp200bn new loan from Bank Mandiri • Total: Rp2,500 billion 2023 Cash outflow Guidance • • Rp300bn Construction & Land Development in Cikarang Rp600bn Infrastructure & Land Development in Kendal . Rp150bn Maintenance Capex • Rp250bn Land Acquisition (discretionary) • → (70% Cikarang / 30% Kendal) Rp350bn Interest Rp450bn SG&A (excl. infra) • Rp375bn Debt repayment (incl Rp200bn 2023 bond stub) • • Rp200bn Tax ● Total: Rp2,675 billion Note: Kendal JV stand-alone cashflow projected to be around Rp200bn deficit for 2023 mainly due to CAPEX Cash balance of ~Rp1.24 trillion as of 30 September 2023 • ~53% at KIJA wholly owned level and ~47% at JV subsidiary levels (mainly Kendal) that consolidate to KIJA - Kendal JV paid dividend of Rp259bn in 3Q23, 51%/49% to KIJA/Sembcorp. 2

View entire presentation