[PPT] - 2 3 PowerPoint Presentation

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source: Indonesia Cement Association source: Indonesia Cement Association

Bag cement still represent the largest portion of Indonesia cement consumption January 2020

Domestic Sales in Java v.s. Outside of Java

18.9 21.5 24.6 25.3 26.2 27.5 28.2 28.9 30.5 30.9 21.9 26.5 30.3 32.6 33.7 34.5 33.4 37.4 39.0 38.9

5.0%

0.0% 5.0% 10.0% 15.0% 20.0%

10.0

20.0 30.0 40.0 50.0 60.0 70.0 80.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Outside Java Java Growth

source: Indonesia Cement Association

32.8 34.2 39.2 44.1 45.7 46.9 47.5 46.8 49.4 50.8 51.0 6.2 6.6 8.8 10.8 12.2 13 14.5 14.8 16.9 18.8 18.7

5.0%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 10 20 30 40 50 60 70 80 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Cement demand growth was dominated by the growth of bulk cement to support infrastructure projects

Bag Vol Bulk Vol Growth Bag Growth Bulk Bulk Portion

in million ton in trillion IDR in million ton

74.98% 25.02% BULK BAG

86 114 146 184 178 290 317 388 410 415 419

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

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53.4% 25.6% 5.9% 3.6% 3.0% 3.0% 1.7% 2.0% 1.4% 0.4% SMGR (SMIG + SBI) INTP Conch Bosowa Merah Putih Baturaja Jui Shin Siam Cement STAR Semen Kupang Market Share

source: Indonesia CementAssociation

55.1% 25.1% 5.5% 2.3% 3.3% 2.5% 2.3% 2.0% 1.5% 0.4% SMGR (SMIG + SBI) INTP Conch Bosowa Merah Putih Baturaja Jui Shin Siam Cement STAR Semen Kupang Market Share

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11 11 source: Indonesia CementAssociation 2020 2019 YoY(%) Semen Indonesia Domestic 2,087,805 2,146,463

2.73%

Export 252,712 210,918 19.82% 2,340,517 2,357,381

0.72%

TLCC Domestic 72,715 80,198

9.33%

Export 99,978 58,200 71.78% 172,692 138,398 24.78% Total Group (SMGR) 2,513,209 2,495,779 0.70% SBI (ex-Holcim) Domestic 775,018 904,748

14.34%

Export 69,219 36,620 89.02% 844,237 941,368

10.32%

SMGR + SBI* 3,357,446 2,495,779 34.53% JANUARY DESCRIPTION

> Indented numbers in orange tables are SBI numbers

before the acquisition by SMIG thus not included in SMIG consolidated numbers * Total Group (SMGR) January 2019 excluding SBI sales volume ** One small player not updated yet in January 2020 2020 2019 YoY(%) Jakarta 305,737 355,886

14.09%

Banten 249,235 288,183

13.52%

West Java 862,725 896,320

3.75%

Central Java 634,519 709,789

10.60%

Yogyakarta 78,256 121,598

35.64%

East Java 730,677 792,946

7.85%

Total Java 2,861,149 3,164,723

9.59%

Sumatra 1,053,427 1,177,220

10.52%

Kalimantan 339,364 363,670

6.68%

Sulawesi 462,454 462,961

0.11%

Nusa Tenggara 275,916 289,966

4.85%

East Indonesia

#DIV/0!

Total Indonesia 4,992,311 5,458,540

8.54%

Export Cement 68,856 70,328

2.09%

Export Clinker 307,331 168,706 82.17% Total Export 376,187 239,035 57.38% Grand Total** 5,368,497 5,697,575

5.78%

AREA JANUARY

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TU TUBAN PLA PLANT Cap SI: 14,7 Mt/Yr Cap LHI : 3,6 Mt/Yr Port : 40.000 DWT IN INDARUNG PLA PLANT Cap : 9,4 Mt/Yr

GP Dumai GP Gresik PP Lhoksumawe PP Malahayati PP Batam Tl Bayur Port PP Lampung PP Pontianak PP Samarinda PP Banjarmasin PP Balikpapan PP Bitung PP Palu PP Mamuju Biringkassi Port PP Makassar PP Kendari PP Sorong PP Ambon PP Banyuwangi PP Celukan Bawang

PA PANGKEP EP PLA PLANT Cap : 7,4 Mt/Yr

PP Belawan PP Tj Priok PP Ciwandan SI PP Maluku Utara GP Ciwandan PP Bengkulu

REMB EMBANG PLA PLANT Cap : 3 Mt/Yr NAROGONG PLA PLANT Cap : 6 Mt/Yr CILA ILACAP P PLA PLANT Cap : 3,4 Mt/Yr

PP Lhoksumawe PP Belawan PP Pontianak PP Dumai PP Batam GP Kuala Indah PP Lampung GP Cigading PP Ciwandan SP

LH LHOKNGA PLA PLANT Cap : 1,8 Mt/Yr

Source: Internal SMIG

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14 14 8,492 7,474 6,957 4,904 6,577 5,910 31.5% 27.7% 26.6% 17.6% 21.4% 21.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0%

2,000

4,000 6,000 8,000 10,000 2014 2015 2016 2017 2018 9M 2019 EBITDA EBITDA Margin 11,579 10,646 9,856 7,960 9,331 8,476 42.9% 39.5% 37.7% 28.6% 30.4% 30.1% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0%

5,000

10,000 15,000 2014 2015 2016 2017 2018 9M 2019 Gross Profit Gross Profit Margin 5,566 4,521 4,522 1,621 3,079 1,295 20.6% 16.8% 17.3% 5.8% 10.0% 4.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0%

1,000

2,000 3,000 4,000 5,000 6,000 2014 2015 2016 2017 2018 9M 2019 Net Profit Net Profit Margin 26,987 26,948 26,134 27,814 30,688 28,123 10.1%

0.1%
3.0%

6.4% 10.3% 31.1%

10.0%

0.0% 10.0% 20.0% 30.0% 40.0% 22,000 24,000 26,000 28,000 30,000 32,000 2014 2015 2016 2017 2018 9M 2019 Revenue Revenue Growth

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IMPORTANT NOTICE THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFER FOR SALE OR SUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER. THE SLIDES USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY. THE INFORMATION CONTAINED IN THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR IN PART. This presentation includes forward-looking statements, which are based on current expectations and forecast about future events. Such statements involve known / unknown risks uncertainties and other factors, which could cause actual results to differ materially from historical results or those

anticipated. Such factors include, among others:
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