Investor Presentaiton

2022 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 on the back of strong industrial performance 2022 Marketing Sales: Rp1,717bn (101% of target) • • Rp931bn Cikarang & Others: 61% industrial 39% Residential, Commercial, and others Rp794bn Kendal (93%) & other JVs (7%) 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 Total: Rp2,300 billion 2023 Cash outflow Guidance • Details on page 26 2023 Marketing Sales Target: Rp2,000bn • • Rp1,000bn Cikarang & others: Rp750bn industrial & land/Rp250bn residential, commercial, and others Rp1,000bn JVs (80% Kendal - all industrial) • Solid pipeline for industrial in both Cikarang and Kendal; 3 - 4 new residential & commercial launches planned Infrastructure - 2022 volumes higher than 2021 • • • • Water & wastewater volume increased 4% & 9% yoy Electricity volume increased 12% yoy Dry Port throughput increased 6% yoy 2021 vs 2020: +~10% water, +~14% power, +~13% port Leisure & Hospitality . Not material (small contributions to earnings/cashflow) • 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 ~Rp1.3trillion as of 31 December 2022 (unaudited) • + US$20mn in Bank Mandiri loan proceeds in restricted cash (already used to partially call 2023 stub in January) 2

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