Corporate PresentationMay 2019

SMGR Subsidiaries

Inbound MaterialsClinker & Cement

ProductionTransportation Distribution

Downstream

BusinessOthers

UTSG

• Mining Contractors

(limestone & clay)

IKSG

• Packaging from kraft &

woven , especially for

cement packaging

KSI

• GBFS

• GGBFS

SG,ST,SP, SBI*

• Clinker and Cement

production in Indonesia

SILOG

• Sea & Land Transportation

• Loading & Unloading

• Port Management

• Cement distribution,

• Other building

material distribution

SII

• Cement & clinker

trading

SIB, SBB**

• Ready Mix

• Precast

SMI

• Property

• Building management

• Preparation of cement

raw material mining.

SIIB

• Investment

management (SBI)

KIG

• Industrial estate

SISI

• IT servicesTLCC

• Clinker & cemen production

in Vietnam

Notes:

* Subsidiary under SIIB,

** Subsidiary under SBI

Experienced Board of ManagementPRESIDENT DIRECTOR

HENDI PRIO SANTOSO

Born in Jakarta, February 5, 1967

Double Major: Bachelor of Business Administration in University of Houston and Economics in University of Texas, USA

Career History:• Director of Investment Banking at JP Morgan Securities

Indonesia (2004-2007)• Director of Finance at PT PGN (Persero) Tbk (2007-

2008)

• President Director of PT PGN (Persero) Tbk (2008-2017)

DIRECTOR OF MARKETING AND SUPPLY CHAIN

ADI MUNANDIR

Born in Sukabumi, July 10, 1981

Bachelor in Electrical Power Engineering from Universitas Indonesia

Master in Strategic Management from Universitas Indonesia

Career History:

• President Commissioner at PT Solusi EnergyNusantara• Commissioner at PT Nusantara Regas• Executive Officer - Strategic Management Office PT PGN (2013-2015)• Head of Strategic Management Division at PT PGN (Persero) Tbk

(2015-2016)• Head of Marketing at PT PGN (Persero) Tbk (2016- 2017)

DIRECTOR OF HR AND LEGAL

AGUNG YUNANTO, Born in Bandung, May 7, 1962. Graduated from S1 in ITB and Master of Management at IMI & Monash University

Career History:• President Commissioner of PT Jasa Marga Surabaya in 2013-

2017• General Manager of Human Capital PT Wijaya Karya Beton

period 2014-2017.

DIRECTOR OF PRODUCTION

BENNY WENDRY

Born in Padang, May 1, 1969

Bachelor in Chemical Engineering from Institut Teknologi Bandung

Master in Management from Universitas Gadjah Mada

CareerHistory:

• Commercial Director at PT Semen Padang (2011- 2014)• Finance Director at PT Semen Padang (2014)• President Director at PT Semen Padang (2014-2017)

DIRECTOR OF FINANCE

DODDY SULASMONO DINIAWAN

Born on February 27, 1967

Bachelor in Management Economics from Universitas KatolikParahyangan

Master of Financial Management from Universitas Padjadjaran

CareerHistory:

• Executive Vice President – Division Head of Corporate Business Risk of PT BNI (Persero) Tbk. (2015-2016).

• Executive Vice President – CEO Jakarta Kota Region Office PT BNI (Persero) Tbk.(2016)

• Director of Finance And Human ResourcesPTRekayasa Industri (2016-2017)

• Director of Business Strategy and Business

Development of PT Semen Indonesia (Persero) Tbk. (2017-2018)

DIRECTOR OF ENGINEERING AND PROJECT

TRI ABDISATRIJO

Born in Situbondo, September 05, 1967

Bachelor in Chemical Engineering from Institut Teknologi SepuluhNopember

Career History:

• GM of Project Specialist OOTC at PT Semen Indonesia (Persero) Tbk (2013-2014)

• GM of Energy, Materials and Environment at PTSemenIndonesia (Persero) Tbk (2014)

• Commercial Director at PT Semen Tonasa (2014-2017)

DIRECTOR OF STRATEGIC BUSINESS AND ENTERPRISE DEVELOPMENT

FADJAR JUDISIAWAN

Born in Surabaya, May 09. 1971

Bachelor in Industrial Engineering from Institut Teknologi SepuluhNopember

Master in Management from Universitas Gadjah Mada

Career History:

• Assistant Deputy for Construction Services of the Ministry of SOEs (2014-2015)

• Assistant Deputy of Construction Business, Transportation Facilities and Infrastructure of the Ministry of SOE (2015-2017)

• Deputy of Construction Business, TransportationFacilities and Infrastructure of the Ministryof SOE (2017)

• Finance Director at PT Semen Indonesia (Persero)Tbk (2017-2018)

1

Installed Capacity

2018

35.5 Semen Indonesia

25.5 Indocement

15.5 Solusi Bangun Indonesia (ex-Holcim)

8.7 Conch Cement Indonesia

7.7 Semen Merah Putih (Cemindo Gemilang)

7.4 Semen Bosowa

3.9 Semen Baturaja

1.8 Semen Garuda (Jui Shin Indonesia)

1.8 Semen Jawa (Siam Cement Group)

1.8 Semen Bima (PT STAR)

0.4 Semen Kupang

3.1 Others (non ASI members)

Indonesia Cement Players

Design Capacity

111.1 MT (2018)

113.1 MT (2019)

Production Volume

75.1 MT (2018)

Domestic Growth

4.80%

Domestic Utilization

70%* Domestic: 69.5 MT Export: 5.6 MT

*Based on Indonesia Cement Association recorded national capacity and production volume 2018

Total 2019:

113.1 Mio Ton

Indonesia Cement Market

BAG

73%

BULK

27%

86114

146

184 178

290317

388410 415

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Infrastructure Budget

18.9 21.5 24.6 25.3 26.2 27.5 28.9 30.5

26.530.3 32.6 33.7 34.5 33.4 37.4 39.0

21.94.6%

17.6%

14.4%

5.5%3.5% 3.5%

28.2-0.6%

7.6%

4.8%

2010 2011 2012 2014 2015 2017 20182013

OutsideJava Java

2016

Growth

CAGR: 6.6%

source: Indonesia CementAssociationsource: Indonesia CementAssociation

source: Indonesia CementAssociation

source: Indonesia CementAssociation

Bag cement still represent the largest portion of Indonesia cement consumption

YTD May 2019

Domestic Sales in Java

vs Outside of Java

73.25%

26.75%

BAG

BULK

32.8 34.239.2

44.1 45.7 46.9 47.5 46.8 49.4 50.8

11.5

6.2 6.6

8.810.8 12.2 13 14.5 14.8

16.9 18.8

4.1

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0

10

20

30

40

50

60

70

80

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1Q '19

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

CAGR Bulk: 13.1%

CAGR Bag: 5%

Market by Geography up to May 2019

SMGR MS

42,6%

WEST JAVA,

DKI JAKARTA,

BANTEN

CENTRAL JAVA

EAST JAVA

SMGR MS

46.1%

SMGR MS

36.0%

SMGR MS

59.1%

20.5% of total

national

demand

2.6% of total

national

demand

8.2% of total

national

demand

27.5% of total

national

demand

15 .0% of total

national demand

5.9% of total

national

demand 13.6% of total

national

demand

6.7% of total

national

demand

SMGR MS

62.5%

SMGR MS

35.9%

SMGR MS

59.8%

SMGR MS

77.8%

SMGR MS

39.1%

39,4%

25,5%

15,4%

4,8%3,5% 3,1% 3,1%

1,9% 1,9%1,% 0,3%

SMGR INTP SBI Conch Bosowa MerahPutih

BaturajaJui Shin SiamCement

STAR SemenKupang

Market Share

SMIG as the Market Leader in Indonesia

Pre-ConsolidationFY 2018

source: Indonesia Cement Association

SMIG

Post-ConsolidationUp to March 2019

53.7%

26.2%

5.5%3.7% 2.8% 2.9% 2.2% 1.8% 1.0% 0.3% 0.3%

SMGR(SMIG +

SBI)

INTP Conch Bosowa MerahPutih

Baturaja Jui Shin SiamCement

STAR SemenKupang

SemenKupang

Market Share

Sales Volume May 2019

Semen Indonesia Group Sales Volume Industry

2019 2018 + (%) 2019 2018 + (%) 2019 2018 + (%)

JAKARTA 305,986 387,027 -20.94% 306,204 400,781 -23.60% 1,668,889 2,001,297 -16.61%

BANTEN 265,279 281,006 -5.60% 249,212 272,932 -8.69% 1,312,858 1,317,026 -0.32%

WEST JAVA 761,160 771,142 -1.29% 876,282 851,726 2.88% 4,099,824 3,905,682 4.97%

CENTRAL JAVA 619,438 754,882 -17.94% 738,269 877,957 -15.91% 3,241,549 3,732,316 -13.15%

YOGYAKARTA 140,131 88,772 57.85% 113,071 101,787 11.09% 640,406 436,692 46.65%

EAST JAVA 625,598 743,899 -15.90% 742,275 767,425 -3.28% 3,477,204 3,693,460 -5.86%

TOTAL JAVA 2,717,591 3,026,728 -10.21% 3,025,313 3,272,609 -7.56% 14,440,730 15,086,473 -4.28%

SUMATRA 1,002,668 1,153,076 -13.04% 1,016,545 1,184,874 -14.21% 5,289,698 5,771,471 -8.35%

KALIMANTAN 313,506 340,520 -7.93% 332,662 373,903 -11.03% 1,715,717 1,743,328 -1.58%

SULAWESI 390,719 428,691 -8.86% 390,725 405,985 -3.76% 2,117,275 2,106,121 0.53%

NUSA TENGGARA 289,677 284,996 1.64% 299,450 328,470 -8.83% 1,506,362 1,406,539 7.10%

INDONESIA TIMUR 102,202 103,479 -1.23% 130,685 105,310 24.10% 661,945 616,571 7.36%

TOTAL INDONESIA 4,816,363 5,337,491 -9.76% 5,195,380 5,671,151 -8.39% 25,731,727 26,730,504 -3.74%

EXPORT SEMEN 115,052 121,917 -5.63% 48,673 204,431 -76.19% 523,880 535,416 -2.15%

EXPORT KLINKER 543,441 472,410 15.04% 395,099 560,454 -29.50% 1,813,142 1,525,425 18.86%

TOTAL EXPORT 658,493 594,327 10.80% 443,773 764,885 -41.98% 2,337,023 2,060,841 13.40%

GRAND TOTAL 5,474,856 5,931,817 -7.70% 5,639,153 6,436,036 -12.38% 28,068,750 28,791,344 -2.51%

YEAR TO DATEMAYAREA

APRIL

2019 2018 Chg YoY (%) 2019 2018 Chg YoY (%) 2019 2018 Chg YoY (%)

Semen Indonesia

Domestic 1,801,315 2,114,578 -14.81% 1,992,823 2,232,412 -10.73% 9,771,084 10,539,546 -7.29%

Export 293,140 279,945 4.71% 327,521 337,569 -2.98% 1,377,695 1,282,524 7.42%

2,094,455 2,394,523 -12.53% 2,320,344 2,569,981 -9.71% 11,148,779 11,822,069 -5.70%

TLCC

Domestic 117,301 179,050 -34.49% 120,429 146,008 -17.52% 489,975 683,179 -28.28%

Export 87,300 91,149 -4.22% 69,001 104,464 -33.95% 309,451 431,617 -28.30%

204,601 270,199 -24.28% 189,430 250,472 -24.37% 799,426 1,114,796 -28.29%

Total Group (SMGR) 2,299,056 2,664,722 -13.72% 2,509,773 2,820,454 -11.02% 11,948,206 12,936,865 -7.64%

SBI (ex-Holcim)

Domestic 714,806 796,857 -10.30% 760,964 890,679 -14.56% 3,921,951 4,037,129 -2.85%

Export 32,145 116,773 -72.47% 68,031 66,416 2.43% 208,447 286,930 -27.35%

746,951 913,630 -18.24% 828,995 957,095 -13.38% 4,130,398 4,324,059 -4.48%

SMGR + SBI 3,046,007 2,664,722 14.31% 3,338,768 2,820,454 18.38% 15,137,236 12,936,865 17.01%

*Indented numbers in orange tables are SBI numbers before the acquisition by SMIG thus not included in SMIG consolidated numbers

Total SMGR + SBI Year to Date exclude SBI January 2019 sales volume

MAYAPRIL Year to Date

Source: Internal SMIG

TUBAN PLANT

Cap SI: 14,7 Mt/Yr

Cap LHI : 3,6 Mt/Yr

Port : 40.000 DWT

INDARUNG 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

PANGKEP PLANT

Cap : 7,4 Mt/Yr

PP Belawan

PP Tj Priok

PP Ciwandan SP

PP Ciwandan SI

PP Maluku Utara

GP Ciwandan

PP Bengkulu

REMBANG

PLANT

Cap : 3 Mt/Yr

LHOKNGA PLANT

Cap : 1,8 Mt/Yr

NAROGONG PLANT

Cap : 6 Mt/Yr

CILACAP PLANT

Cap : 3,4 Mt/Yr

PP Lhoksumawe

PP Belawan

PP Pontianak

PP Dumai

PP Batam

GP Kuala Indah

PP Lampung

GP Cigading

The Integration of Solusi Bangunan Indonesia (SBI)

Strategic Business Priority 2019

SMGR Performance Overview – 1Q’191Q 2019 1Q 2018 Chg YoY

(a) (b) (a:b)

Revenue 6,618 6,618 0.0%

Cost of Revenue 5,913 4,901 20.7%

Gross Profit 704 1,717 -59.0%

Operating Expense 1,122 970 15.7%

Operating Income (417) 747 -155.9%

EBITDA 1,611 1,193 35.1%

Finance Income (Cost) 1,611 1,193 35.1%

Profit Before Tax 454 560 -18.9%

Net Profit Attributable to Owners of Parent Entity 268 412 -34.9%

Margin

Gross Profit Margin 10.6% 25.9% -15.3%

Operating Profit Margin -6.3% 11.3% -17.6%

EBITDA Margin 24.4% 18.0% 6.3%

Net Profit Margin 4.1% 6.2% -2.2%

Ratios

ROE 2.9% 5.4% -2.5%

Net Debt to Equity 76.1% 20.2% 55.9%

Debt to EBITDA (x) 4.6 2.2 108.1%

EBITDA/Interest (x) 2.3 5.2 -56.5%

Rp Billion

SMGR Financial Position 1Q’19

Thank YouIMPORTANT 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 HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY..

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:

● economic, social and political conditions in Indonesia, and the impact such conditions have on construction and infrastructure spending in

Indonesia;

● the effects of competition;

● the effects of changes in laws, regulations, taxation or accounting standards or practices;

● acquisitions, divestitures and various business opportunities that we may pursue;

● changes or volatility in inflation, interest rates and foreign exchange rates;

● accidents, natural disasters or outbreaks of infectious diseases, such as avian influenza, in our markets;

● labor unrest or other similar situations; and

● the outcome of pending or threatened litigation.

We can give no assurance that our expectations will be attained.

DISCLAIMER

The information contained in this report has been taken from sources which we deem reliable. However, none of PT Semen Indonesia

(Persero) Tbk and/or its affiliated companies and/or their respective employees and/or agents make any representation or warranty

(express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and

opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining

unchanged after the issue thereof.

We expressly disclaim any responsibility or liability (express or implied) of PT Semen Indonesia (Persero) Tbk, its affiliated companies and

their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action,

suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of acting in reliance upon

the whole or any part of the contents of this report and neither PT Semen Indonesia (Persero) Tbk, its affiliated companies or their

respective employees or agents accepts liability for any errors, omission or mis-statements, negligent or otherwise, in the report and any

liability in respect of the report or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expresses

disclaimed.

PT Semen Indonesia (Persero) Tbk.

Kantor Pusat

South Quarter Tower A Lt. 19Jl. RA Kartini Kav.8, Cilandak Barat, Jakarta Selatan

Jakarta 12430

Telp: (021) 5261174/5Fax : (021) 5261176

@semen

indonesia

Semen

Indonesia

Semen

Indonesia

@semenku

www.semenindonesia.com