Investor Presentaiton

OVERVIEW OF JAKARTA'S RETAIL MARKET COLIPPO Demand remains supply constrained and net absorption continues to be supply driven Lower levels of net absorption the new normal due to supply constraints 90% occupancy rate in 3Q16; healthy occupancy levels expected to persist 300,000 250,000 300,000 200,000 250,000 150,000 Average annual net 200,000 absorption: 150,000 sqm 100.000 150,000 Average annual net absorption: 100,000 57,000 sqm 50,000 50,000 0 Average annual rental growth of between 5 and 6% likely for prime shopping malls 800,000 700,000 800,000 500,000 400,000 IDR per sqm per month 300,000 200,000 100,000 0 4Q08 1009 2016- PT LIPPO KARAWACI TBK 100% 95% 90% 85% 80% 75% Occupancy 70% 85% 0 60% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2018 2017 2018 2019 2020 New Supply Net absorption ⚫Occupancy rate Similar situation expected over Historical annual average growth the forecast horizon Existing Supply: 2.84 million sqm rate: 6% 4011 3011 2011 1011 4Q10 3Q10 2010 1010 4009 4009 3009 2009 1Q12 2012 4012 3012 1Q13 End-2016 3016 2016 1016 4Q15 3015 2015 1015 4014 3014 2014 1014 4013 3013 2013 -Upper -Middle Middle Low End-2017 End-2018 End-2019 Occupancy: 90% Gross Rent: IDR 602,225 per sqm per month Jakarta Retail Market in 3Q16 Base Rent: IDR 489,101 per sqm per month Source Q3'2016 Market Review for Jakarta Jones Lang LaSalle Research Future Supply: ± 0.14 million sqm Service Charge: IDR113,124 per sqm per month 49 End-2020

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