Company  Update  [Bloomberg/Reuters:  PTPP  IJ/JK]  

August    2017  

1.   Company  Overview   3  

2.   Company  Update   8  

3.   Financial  Highlights   11  

4.   Opera?onal  Highlights   15  

5.   Project  Progress  &  Investments   20  

6.   Appendices   23  

IMPORTANT: The following forms part of, and should be read in conjunction with, this presentation

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Table  of  Contents

Cover  front:  PTPP  celebrated  64th  birthday    

Kalibaru  Port,  Indonesia’s  biggest  container  terminal  Winner,  Asian  Civil  Engineering  Coordina=ng  Council  Award  2016  

Sec=on  1  Company  Overview  

VISION  “To  be  a  leading  and  sustainable  construc<on  and  

investment  company  in  South  East  Asia”    

MISSION  •  Providing  Construc<on  and  EPC  services  as  well  as  

Good  Corporate  Governance-­‐based  Investment,  QSHE  Management,  Risk  Management,  and  Green  Concept  that  priori<ze  on  customer  sa<sfac<on  and  sustainability  

•  Developing  Business  Synergy  Strategy  to  create  high  compe<<veness  and  op<mal  value  add  for  the  Stakeholders  

•  Crea<ng  Excellent  Human  Resources  with  Recruitment,  Development  and  Assessment  based  on  Corporate  Culture  

•  Op<mizing  Knowledge  Management  to  achieve  Sustainable  Excellent  Performance  

•  Developing  Corporate  Strategy  through  Financial  strengthening  to  increase  Equity  

In  brief  

Corporate  Values  

64  years   Established  in  1953,  over  6  decades  of  experience  

7  pillars   Consisted  of  Infrastructure,  Energy,  Property,  Construc<on,  EPC,  Precast  and  Construc<on  Equipment  

19  trillion  Rupiah  

Market  capitaliza<on  as  of  July  31,  2017  

2010   Went  public  on  February  9,  2010    

49%   Free  float  (public  ownership)  in  the  market  

23%   Foreign  investor  ownership  as  of  March  31,  2017  

Personal  Awareness    

P   P   B   I   D  

Professional    

Be  Grateful  

 

Integrity    

Discipline    

About  PTPP

4  

2004  

Established  as  NV  PP  

Transformed    to  become    

PT  Pembangunan  Perumahan  (Persero)  

Diversifica<on  to  Property    and  Realty  

EMBO  Government  of    

Republic  Indonesia  51%    KKSPP  49%  

IPO:  February  9  Listed  on  the  Indonesia  Stock  Exchange  

Diversifica<on  to  EPC  and    Investment  

Diversifica<on  to  Construc<on  

Equipment  

Diversifica<on  to  Precast  

IPO:  May  19  Subsidiary  PT  PP  Proper<  Tbk  was  listed  on  the  Indonesia  Stock  Exchange  

2012  

2014  

2011  

1991  1971  1953

2010  

2015  

Completed    Right  Issue    at  PT  PP  (Persero)  Tbk    Diversifica<on  to    Energy    and  Infrastructure  

 

2016  

2017  

Completed  Right  Issue  at    PT  PP  Proper<  Tbk    Planning  IPO  of    PT  PP  Presisi  Tbk  

Company  Milestones

5  

Corporate  Shareholding  Structure

99.98%  64.98%   99.00%  99.99%   99.00%  

Government  of    Republic  Indonesia  

Public    (Below  5.0%)  

51.00%   48.92%  

KKPSPP  

0.08%  

PT  HKM  99.00%  

PT  GSN  99.90%  

PT  SPPP  49.00% �

PT  PPP  40.00% �

PT  PPPJR  52.60%  

PT  Griyaton  96.57% �PT  WSS  

55.00%  

PT  JPP  49.00% �

Below  50%  Subsidiaries  

PT  SDP  75.00% �

PT  MDP  99.00% �

PT  IME  35.00%  

40.00%  PT  Solo  Citra  Metro  Plasma  Power  35.00%  PT  Jasamarga  Pandaan  Malang  30.00%  PT  Alam  In?  Energi  25.00%  PT  Prima  Mul?  Terminal  20.00%  PT  Sinergi  Investasi  Proper?  15.00%  PT  Jasamarga  Kualanamu  15.00%  PT  Jasamarga  Balikpapan  15.00%  PT  Jasamarga  Manado  Bitung  15.00%  PT  Teknik  Rekayasa  Kereta  Kapsul  15.00%  PT  PP  Taisei  15.00%  PT  Wijaya  Karya  Serang  Panimbang  14.00%  PT  Citra  Karya  Jabar  Tol  12.50%  PT  Citra  Wapphutowa  10.00%  PT  Sinergi  Colomadu  

Proper?   Presisi   Energi   Infrastruktur  Urban  

PT  GSN   :   PT  Gitanusa  Sarana  Niaga   PT  PPPJR   :   PT  PP  Proper?  Jababeka  Residence  PT  Griyaton   :   PT  Griyaton  Indonesia   PT  PPP   :   PT  Pekanbaru  Permai  Proper?ndo  PT  HKM   :   PT  Hasta  Kreasi  Mandiri   PT  SDP   :   PT  Sepoe?h  Daya  Prima  PT  IME   :   PT  Inpola  Meka  Energi   PT  SPPP   :   PT  Sentul  PP  Proper?  PT  JPP   :   PT  Jababeka  PP  Proper?   PT  WSS   :   PT  Wisma  Seratus  Sejahtera  PT  MDP   :   PT  Muba  Daya  Pratama  

PT  Lancarjaya  Maju  Abadi  51.00%  

Below  50%  Subsidiaries  

6  

§ SEA  PORTS,  AIPORTS  § DAM  

§ HIGH  RISE  BUILDINGS  

§ ROAD  &  BRIDGES  

CONSTRUCTION  

§ POWER  PLANT  

§ OIL  &  GAS  

§ MINING  

EPC  

§ HIGH  RISE  BUILDING  PRECAST  

§ INFRASTRUCTURE  PRECAST  

§ PRECAST  PLANT  

§ BUILDING  MANAGEMENT  

PRECAST  

§ EARTH  MOVING  CONTRACTOR  

§ FOUNDATION  CONTRACTOR  

§ ERECTION  CONTRACTOR  

§ ASPHALT  &  CONCRETE  MIXING  PLANT  

EQUIPMENT  

§ POWER  PLANT  

§ GAS  

ENERGY  

§ TOLL  ROAD  § PORT  

§ AIRPORT  

INFRA  

UPSTREAM   MIDSTREAM   DOWNSTREAM  

§ COMMERCIAL  

§ RESIDENTIAL  

§ HOSPITALITY  

PROPERTY  

PT  PP  INFRASTRUKTUR  

PT  PP    ENERGI  

PT  PP    PROPERTI  TBK  

PT  PP    PRESISI  

PT  PP    URBAN  

PTPP  (List  Co)  

INVESTMENT   CONSTRUCTION  

Key  Business  Pillars

7  

Dual  Fuel  200MW  Power  Plant  Pesanggaran,  Bali,  Indonesia  Winner  Asian  Power  Award  2016  

Sec=on  2  Company  Update  

June  2017

9  

New  Contracts  PTPP  bagged  new  contracts  as  of  May  31,  2017  amounted  about  IDR12.6  trillion,  showing  an  increase  of  77%  YoY  

No   Projects   Size    (IDR    

billion)  

1    Coal-­‐fired  Power  Plant  Meulaboh,  400MW      1,800    2    Grand  Satria  Bekasi      677    3    Mini  Hydro  Tomuan,  Infrastructure      246    4    Design  &  Build  Merak  Dock  VII      217    5    Gardenia  Bogor      173    6    Others  and  Subsidiaries      479    

 Total      3,592    

List  of  new  contracts  won  in  May  2017  

New  Contracts  PTPP  bagged  new  contracts  as  of  June  30,  2017  amounted  about  IDR20.2  trillion  

Corporate  Ac?on  PP  Presisi,  the  construc<on  equipment  subsidiary,  acquired  51%  stake  in  PT  Lancarjaya  Mandiri  Abadi  for  IDR  798  billion  

Corporate  Ac?on  PTPP  and  YKKPP  increased  subscribed  and  fully  paid-­‐up  capital  at  PP  Presisi  in  total  amounted  IDR676.545  billion  

July  2017

10  

Sec=on  3  Financial  Highlights  

Ministry  of  Public  Works  and  Housing  Building,  Indonesia’s  1st  cer=fied  pla=num-­‐grade  green  building  Winner  Green  Building  Award  2016  

(in  IDR  billion)   1H  2017   1H  2016   Δ   YoY  

   Opera<ng  Revenues    8,126      6,472      1,654     26%      Cost  of  Goods  Sold    (6,944)    (5,566)    (1,378)   25%      Gross  Profit    1,182      907      276     30%      Total  Opera<ng  Expenses    (293)    (224)    (69)   31%      Opera<ng  Income    890      683      207     30%  

   Other  Income    135      56      79     140%      Other  Expenses    (26)    (19)    (8)   42%      Impairment    (19)    (10)    (9)   86%      Interest  Expenses    (152)    (104)    (48)   46%      Profit  from  JV    63      33      31     94%      Income  from  Associated  Company    1      -­‐          1     #DIV/0!      Total  Other  Income  (Expenses)    2      (44)    46     -­‐105%      Pre-­‐tax  Profit    892      639      253     40%            Total  Income  (Expenses)  Tax    (260)    (228)    (32)   14%      Net  Profit  Amer  Tax    632      410      221     54%      EBITDA    1,042      724      318     44%  

   Minority  Interest    59      55      4     8%      Net  Profit  Amer  Tax  &  Minority  Interest  (NPATMI)    573      355      217     61%      EPS,  fully  diluted,  IDR  (*)    92      73      19     26%  

(*)  Number  of  issued  shares  pre-­‐right  offering:  4,843,087,000              Number  of  issued  shares  post-­‐right  offering:  6,199,897,354  (ex-­‐right  December  2,  2016)      

1H  2017  Profit  &  Loss  Highlight

12  

(in  IDR  billion)   Jun  30,    2017  

Dec  31,    2016   Δ   YoY  

   Assets      Cash  and  cash  equivalents    6,662      9,125      (2,463)   -­‐27%      Short-­‐term  Investment    127      299      (172)   -­‐58%      Trade  Receivables,  net    5,958      4,776      1,182     25%      Gross  Receivables  from  Project  Owner,  net    5,984      4,906      1,078     22%      Inventories    2,845      2,656      190     7%      Other  Current  Assets    2,808      2,582      226     9%      Current  Assets    24,385      24,344      41     0%      Fixed  Assets,  net    4,448      4,178      270     6%      Other  Non  Current  Assets    2,992      2,711      281     10%      Non  Current  Assets    7,440      6,889      551     8%      Total  Assets    31,825      31,233      592     2%            Liabili<es  and  Equi<es          Short-­‐term  Interest-­‐bearing  Debts    3,790      3,707      83     2%      Trade  Payables,  net    9,143      10,237      (1,094)   -­‐11%      Other  Current  Liabili<es    2,260      1,934      326     17%      Current  Liabili<es    15,193      15,879      (686)   -­‐4%      Long-­‐term  Interest-­‐bearing  Debts    3,322      3,083      239     8%      Other  Non  Current  Liabili<es    1,600      1,475      125     8%      Non  Current  Liabili<es    4,922      4,558      364     8%      Total  Liabili<es      20,115      20,437      (322)   -­‐2%      Shareholders’  Equity    11,710      10,796      914     8%  

Balance  Sheet  Highlight  as  of  June  30,  2017

13  

Jun  30,  2017   Jun  30,  2016  

   1.  Profitability      Gross  Profit  Margin   14.5%   14.0%      Opera<ng  Profit  Margin   10.9%   10.6%      EBITDA  Margin   12.8%   11.2%      Net  Profit  Margin*   7.0%   5.5%  

(in  IDR  billion,  unless  otherwise  stated)   Jun  30,  2017   Dec  31,  2016  

   2.  Leverage      Short-­‐term  Interest-­‐bearing  Debt    3,790      3,707        Long-­‐term  Interest-­‐bearing  Debt    3,322      3,083        Total  Interest-­‐bearing  Debt    7,112      6,790        Cash  and  cash  equivalents  +  Short-­‐term  Investment    6,789      9,424        Net  Debt  (Cash)    323      (2,634)      Equity,  including  Non-­‐controlling  Interests    11,710      10,796        EBITDA**    2,389      2,071    

   Gearing  ra<o  (x)   0.61   0.63      Net  Gearing  ra<o  (x)   0.03   -­‐0.24      Debt  to  EBITDA  (x)     2.98   3.28      Net  Debt  to  EBITDA  (x)     0.14   -­‐1.27  

Jun  30,  2017   Jun  30,  2016  

   EBITDA  to  Interest  Expense  (x)  ***   6.86   6.94  

(*)  asributable  for  the  owners  of  parent  en<ty  (**)  trailing  12-­‐months’  EBITDA  for  June  30,  2017  (***)  6.86x  for  1H  2017  and  6.94x  for  1H  2016    

1H  2017  Selected  Key  Ra?os

14  

Sec=on  4  Opera?onal  Highlights  

Cikampek  -­‐  Palimanan  Toll  Road  (116  km),  West  Java,  Indonesia    Indonesia’s  longest  toll  road,  opened  in  2015,  part  of  the  Trans  Java  highways  

Actual  6M  2017:    

IDR  20.2  Trillion  

Target    FY  2017:  

IDR  40.6  Trillion  

SOE  

Private  

Government  

20.6%  

49.2%  

30.2%  

66.8%  

11.4%  21.8%  

New  Contract  by  Project  Owner  (6M  2017)

16  

Buildings  

Road  and  Bridges  

Energy  

Irriga<on  

Ports  

Others  

Actual  6M  2017:    

IDR  20.2  Trillion  

Target    FY  2017:  

IDR  40.6  Trillion  

30.6%  

13.1%  20.8%  

10.1%  

2.4%  

23.0%  27.9%  

17.7%  

34.5%  

4.2%  

12.1%  

12.1%  

New  Contract  by  Project  (6M  2017)

17  

Actual  6M  2017:    

IDR  20.2  Trillion  

Target    FY  2017:  

IDR  40.6  Trillion  

Construc<on  

Precast  

Property  

Construc<on  Equipment  

Infrastructure  &    Energy  

EPC  56.2%  

20.8%  

10.6%  

7.6%  

2.2%  

2.7%  

53.5%  

34.5%  

2.5%  

7.4%  

2.1%  

New  Contract  by  Business  Lines  (6M  2017)

18  

19  

Carry  Over  39.6  

New  Contracts  Regular  25.3  

New  Contracts  

JO  7.3  

New  Contracts  

JO  2.4  

New  Contracts  Regular  38.3  

Carry  Over  48.4  

Revenues  16.4  

2016   2017  

Revenues  25.0  

Carry  Over  48.4  

Carry  Over  61.7  

Order  Book    (ex  JO)  64.9  

Order  Book    (ex  JO)  86.7  

JO:  Joint  Opera<on  

Order  Book  (in  Trillion  Rupiah)

19  

Sec=on  5  Project  Progress  &  Investment  

Installa=on  of  precast  jeYy  at  Kuala  Tanjung  Port,  North  Sumatra  Kuala  Tanjung  is  des=ned  to  be  a  Hub  Port,  part  of  Indonesia’s  strategic  projects  

21  

 Projects  

Land  Acquisi?on  Progress  

 Construc?on  Progress  

1.  Kuala  Tanjung  Port  *   75.00%   78.47%  

2.  Medan  –  Kuala  Namu  –  Tebing  Tinggi  Toll  Road   100%   96.81%  

3.  Depok  –  Antasari  Toll  Road   92.97%   57.57%  

4.  Pandaan  –  Malang  Toll  Road   68.76%   20.20%  

5.  Manado  –  Bitung  Toll  Road   61.40%   19.80%  

6.  Cisumdawu  Toll  Road  **   37.00%   0.00%  

7.  Serang  –  Panimbang  Toll  Road   40.00%   0.00%  

*  Change  in  contract  value  from  IDR897.7  billion  to  IDR1.21  trillion  **  Construc<on  of  sec<on  3  up  to  sec<on  6  will  start  on  October  2017  

Project  Progress  up  to  end  of  July  2017

21  

A.  Investment  in  associated  en??es  

B.  Other  long-­‐term  investments  

No   Company   Share   Rp  Bn   Remarks  1   PT  Prima  Mul<  Terminal   25.0%    247.4     Hub  Port  Kuala  Tanjung,  North  Sumatra   Infrastructure  2   PT  Jasamarga  Pandaan  Malang   35.0%    137.3   Toll  Road  Pandaan-­‐Malang,  East  Java   Infrastructure  3   PT  Sinergi  Investasi  Proper<   20.0%    91.7     JV  with  BPJS  Ketenagakerjaan  for  worker  housing  projects   Housing  4   PT  Sentul  PP  Proper<   49.0%    49.7     Property  and  Realty,  Sentul,  West  Java,  10k  Ha   Property  5   PT  Pekanbaru  Permai  Proper<ndo   40.0%    46.0     Condotel  Pekanbaru  Park,  Pekanbaru,  Riau   Property  6   PT  Aryan  PP  Proper<   49.0%    45.1     Chid  Playing  Recrea<on,  Surabaya,  East  Java,  4,500m2   Property  7   PT  Jababeka  PP  Proper<   49.0%    36.9     Property  and  Realty,  Cibitung,  West  Java,  25.8k  Ha   Property  8   PT  Inpola  Meka  Energi   38.3%    34.4     Mini  Hydro  10MW  Lau  Gunung,  North  Sumatra   Energy  9   PT  Solo  Citra  Metro  Plasma  Power   40.0%    25.0     Waste  to  Energy  10MW  Surakarta,  Central  Java   Energy  

Total   713.8  

No   Company   Share   Rp  Bn   Remarks  1   PT  Jasa  Marga  Kualanamu   15.0%   114.0     Toll  Road  Medan-­‐Kuala  Namu-­‐Tebing  Tinggi,  North  Sumatra   Infrastructure  2   PT  Wijaya  Karya  Serang  Panimbang   15.0%   52.9     Toll  Road  Serang-­‐Panimbang,  Banten   Infrastructure  3   PT  Citra  Waspphutowa   12.5%   60.0     Toll  Road  Depok-­‐Antasari,  Greater  Jakarta   Infrastructure  4   PT  Jasamarga  Balikpapan-­‐Samarinda   15.0%   20.1   Toll  Road  Balikpapan-­‐Samarinda,  East  Kalimantan   Infrastructure  5   PT  Citra  Karya  Jabar  Tol   14.0%   14.0     Toll  Road  Cileunyi-­‐Sumedang-­‐Dawuan,  West  Java   Infrastructure  6   PT  Jasamarga  Manado-­‐Bitung   15.0%   10.8     Toll  Road  Manado-­‐Bitung,  North  Sulawesi   Infrastructure  7   PT  Teknik  Rekayasa  Kereta  Kapsul   15.0%   7.5     Metro  Kapsul  LRT   Infrastructure  8   PT  Sinergi  Colomadu   10.0%   4.2   Tourism  Des<na<on,  JV  with  other  7  SOEs   Hospitality  8   PT  Pancakarya  Grahatama   15.0%   3.8     Business  Area,  Commercial,  and  Hotel  Project,  Bogor   Property  9   PT  Mitra  Cipta  Polasarana   4.7%   1.6     Office  Space  Rental,  Menteng,  Jakarta   Property  

Total   288.4  

Investments  in  Associates  &  Other  Long-­‐Term  Investments

22  

Sec=on  6  Appendices  

Medan-­‐Kuala  Namu-­‐Tebing  Tinggi  Toll  Road  Project,  North  Sumatra  PTPP  owns  15%  stake  in  a  toll  road  company  that  will  operate  the  toll  road  above  

NOTES  on  the  Right  Offering:    •  Number  of  issued  shares  (serial  B  shares)  

amounted  1,357,460,854  at  IDR3,250  per  share  (about  21.89%  of  the  Company’s  issued  and  fully  paid  shares  post  right  offering)  

•  The  Government  of  Indonesia  contributed  as  much  as  IDR2.25  trillion  (51%)  via  PMN,  while  the  remaining  IDR2.16  trillion  was  contributed  by  public  shareholders  (49%).  

Projects   Loca?on   Investment   PMN  

1.  Mul?purpose  Terminal  Kuala  Tanjung  Port   North  Sumatra   IDR  3,177  Bn   IDR  166  Bn  

2.  Toll  Road  Medan  -­‐  Kualanamu  -­‐  Tebing  Tinggi   North  Sumatra   IDR  4,072  Bn   IDR  174  Bn  

3.  Toll  Road  Depok  -­‐  Antasari   DKI  Jakarta   IDR  3,472  Bn   IDR  62  Bn  

4.  Toll  Road  Balikpapan  -­‐  Samarinda     East  Kalimantan   IDR  9,973  Bn     IDR  449  Bn  

5.  Toll  Road  Pandaan  -­‐  Malang   East  Java   IDR  5,970  Bn   IDR  627  Bn  

6.  Toll  Road  Manado  -­‐  Bitung   North  Sulawesi   IDR  5,123  Bn   IDR  231  Bn  

7.  Middle  Class  Apartment  (MBR  Rusunami)   Greater  Jakarta   IDR  3,277  Bn   IDR  541  Bn  

TOTAL  INVESTMENT   IDR  35.06  T   IDR  2.25  T  

Use  of  proceeds  from  Government  Capital  Injec?on  or  PMN  

Projects   Loca?on   Investment   Public  

8.  Industrial  Zone  Kuala  Tanjung   North  Sumatra   IDR  8,000  Bn   IDR  1,260  Bn  

9.  MBR  Housing   All  Over  Indonesia   IDR  2,805  Bn   IDR  463  Bn  

10.  PLTU  Meulaboh  2  x  200  MW   Aceh   IDR  7,330  Bn   IDR  439  Bn  

TOTAL  INVESTMENT   IDR  18.13  T   IDR  2.16  T  

Use  of  proceeds  from  Public  Shareholders  

Note:  MBR  =  low  cost  housing  

Right  Issue

24  

Credit  ra<ng  agency  Pefindo  upgraded  PTPP’s  ra?ng   and   its   outstanding   Bonds   and  Medium-­‐Term  Notes  (MTN)  from  “A”  to  “A+”  on  November  2016.      According   to   Pefindo,   the   outlook   for   PTPP’s  corporate  ra<ng  is  “Stable”.  The  ra<ng  applied  since  November  15,   2016  up   to  November  1,  2017.    Since  March   2013,   excluding   subsidiary,   PTPP  has  issued  two  (2)  Rupiah-­‐denominated  bonds  in  total  amounted  IDR1.0  trillion.  

A-

A   A   A  

A+

Dec  2012   Dec  2013   Dec  2014   Dec  2015   Nov  2016  

Source:  Pefindo  

Currency   Size   Maturity   Due   Coupon  

Rupiah   700  Billion  

5  years   March  19,  2018   8.375%  

Rupiah   300  Billion  

5  years   February  24,  2020   10.20%  

PTPP  credit  ra?ng  2012  -­‐  2016  

Bonds  issuance  by  PTPP  (excluding  subsidiary)  

Credit  Ra?ng  Profile  &  Bonds  Issuance

25  

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NOTES

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NOTES

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