Corporate PresentationApril 2020

PT Semen Indonesia (Persero) Tbk.

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Milestones

1. PT Semen Indonesia (Persero) Tbk., previously known as PT Semen Gresik (Persero) Tbk. WAS established on 7 August 1957.

2. Publicly listed in IDX since 1991.

3. Consolidated with PT Semen Padang (Persero) and PT Semen Tonasa (Persero) in 1995.

4. Acquired Thang Long Cement Company (TLCC) Vietnam in 2012.

5. Acquired PT Holcim Indonesia in 2019.

53 Million tones p.a of designed cement production capacity

#1 largest cement producer in the ASEAN region

53% market share in Indonesia (Up to April 2020)

9 Integrated cement plants in 7 locations in Indonesia and 1 in Vietnam

Facts

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4

SILOG

• Sea & Land Transportation• Loading & Unloading• Port Management

• Cement distribution, • Other building

material distribution

Inbound MaterialsClinker & Cement Production

Transportation DistributionDownstream Business

Others

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

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

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SoekarwoChairman

RUPS 22 Mei 2019Hendrika Nora OS

CommissionerAGMS 30 April 2018

Nasarudin UmarIndependent

CommissionerAGMS 31 March 2017

Mochamad CholiqIndependent

CommissionerAGMS 30 April 2018

Lydia Silvanna DjamanCommissioner

AGMS 22 May 2019

Sony SubrataCommissioner

AGMS 23 January 2015

Astera PrimantoCommissionerAGMS 31 March 2017

Hendi Prio SantosoPresident Director

AGMS 15 September 2017

Doddy Sulasmono DDirector of Finance

AGMS 15 September 2017

Adi MunandirDirector of Marketing &

Supply ChainAGMS 30 April 2018

Benny WendryDirector of Production

AGMS 15 September 2017

Fadjar JudisiawanDirector of Business

Strategy & DevelopmentAGMS 15 September 2017

Tri AbdisatrijoDirector of Engineering &

ProjectAGMS 15 September 2017

Tina T Kemala IntanHR & Legal DirectorAGMS 22 Mei 2019

Board of Commissioners Board of Directors

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Installed Capacity

2019

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)

Design Capacity113.1 MT (2019)

Production Volume76.1 MT

Domestic Growth0.34%

Domestic Utilization67%* Domestic: 69.8 MT Export: 6.4 MT

*Based on Indonesia Cement Association recorded national capacity and production volume 2019

Total 2019:113.1 Mio Ton

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source: Indonesia Cement Association

source: Indonesia Cement Association

Bag cement still represent the largest portion of Indonesia cement consumption

YTD April 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

34.2 39.2 44.1 45.7 46.9 47.5 46.8 49.4 50.8 51.0

11.1

6.68.8

10.8 12.2 13 14.5 14.816.9 18.8 18.7

3.8

-15.0%-10.0%-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

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q '20

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

75,14%

24,86%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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YTD April 2020

9

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 MerahPutih

Baturaja Jui Shin SiamCement

STAR SemenKupang

Market Sharesource: Indonesia Cement Association

FY 2019 YTD April 2020

53,0%

25,5%

6,7%3,1% 2,9% 2,6% 2,2% 2,1% 1,5% 0,3%

SMGR(SMIG +

SBI)

INTP Conch Bosowa MerahPutih

Baturaja Jui Shin SiamCement

STAR SemenKupang

Market Share

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Semen Indonesia Group Sales Volume Industry

source: Indonesia CementAssociation

* Total Group (SMGR) January 2019 excluding SBI sales volume** One small player not updated yet in April 2020

2020 2019 YoY (%) 2020 2019 YoY (%) 2020 2019 YoY (%)

Semen Indonesia(include SBI)

Domestic 2,490,257 2,750,342 -9.46% 2,419,221 2,516,121 -3.85% 10,291,515 10,034,501 2.56%Export 389,072 277,489 40.21% 440,869 325,285 35.53% 1,461,477 1,153,970 26.65%

2,879,329 3,027,832 -4.90% 2,860,091 2,841,406 0.66% 11,752,992 11,188,471 5.05%TLCC

Domestic 153,670 131,508 16.85% 133,444 117,301 13.76% 437,165 369,547 18.30%Export 65,450 2,033 3119.00% 66,722 87,300 -23.57% 239,151 240,450 -0.54%

219,120 133,541 64.08% 200,166 204,601 -2.17% 676,316 609,997 10.87%Total Group (SMGR)* 3,098,449 3,161,373 -1.99% 3,060,256 3,046,007 0.47% 12,429,308 11,798,468 5.35%

MARCH APRIL Year to DateDESCRIPTION

2020 2019 YoY (%) 2020 2019 YoY (%) 2020 2019 YoY (%)

Jakarta 288,471 252,376 14.30% 200,709 226,995 -11.58% 985,371 981,803 0.36%Banten 237,565 269,064 -11.71% 188,940 265,279 -28.78% 918,695 1,078,125 -14.79%West Java 811,278 908,929 -10.74% 734,140 840,151 -12.62% 3,258,900 3,577,788 -8.91%Central Java 539,181 597,674 -9.79% 633,857 619,438 2.33% 2,349,964 2,482,806 -5.35%Yogyakarta 70,799 138,971 -49.05% 73,362 140,131 -47.65% 300,468 526,147 -42.89%East Java 610,945 674,999 -9.49% 580,989 625,598 -7.13% 2,600,359 2,745,891 -5.30%

Total Java 2,558,239 2,842,012 -9.98% 2,411,997 2,717,591 -11.25% 10,413,757 11,392,559 -8.59%Sumatra 1,054,701 1,042,230 1.20% 1,077,047 1,002,668 7.42% 4,242,916 4,244,611 -0.04%Kalimantan 299,715 355,122 -15.60% 277,970 313,506 -11.33% 1,284,207 1,387,892 -7.47%Sulawesi 448,418 464,926 -3.55% 394,018 390,719 0.84% 1,730,782 1,726,549 0.25%Nusa Tenggara 295,415 323,918 -8.80% 223,008 289,677 -23.01% 1,066,701 1,206,968 -11.62%East Indonesia 160,785 138,004 16.51% 129,695 102,202 26.90% 679,110 531,260 27.83%

Total Indonesia 4,817,272 5,166,212 -6.75% 4,513,735 4,816,363 -6.28% 19,417,474 20,489,840 -5.23%Export Cement 55,769 111,065 -49.79% 19,300 115,052 -83.22% 214,375 431,207 -50.28%Export Clinker 512,192 454,877 12.60% 568,819 543,441 4.67% 1,760,399 1,648,904 6.76%

Total Export 567,961 565,942 0.36% 588,119 658,493 -10.69% 1,974,774 2,080,110 -5.06%Grand Total** 5,385,233 5,732,154 -6.05% 5,101,855 5,474,856 -6.81% 21,392,247 22,569,950 -5.22%

YEAR TO DATEAREA

MARCH APRIL

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TUBAN PLANTCap SI: 14,7 Mt/YrCap LHI : 3,6 Mt/YrPort : 40.000 DWT

INDARUNG PLANTCap : 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 PLANTCap : 7,4 Mt/Yr

PP Belawan

PP Tj PriokPP Ciwandan SI

PP Maluku Utara

GP Ciwandan

PP Bengkulu

REMBANG PLANT

Cap : 3 Mt/Yr

NAROGONG PLANTCap : 6 Mt/Yr

CILACAP PLANTCap : 3,4 Mt/Yr

PP Lhoksumawe

PP Belawan

PP Pontianak

PP Dumai

PP Batam

GP Kuala Indah

PP Lampung

GP CigadingPP Ciwandan SP

LHOKNGA PLANTCap : 1,8 Mt/Yr

Source: Internal SMIG

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Q1 2020 Q1 2019 Chg YoY

(a) (b) (a:b)

Revenue 8,580 8,127 5.6%Cost of Revenue 5,876 5,913 -0.6%Gross Profit 2,704 2,214 22.2%Operating Expense 1,430 1,122 27.5%Operating Income 1,274 1,092 16.7%EBITDA 2,022 1,611 25.5%Finance Income (Cost) (552) (637) -13.4%Profit Before Tax 713 454 56.9%Net Profit Attributable to Owners of Parent Entity 446 268 66.5%Margin

Gross Profit Margin 31.5% 27.2% 4.3%Operating Profit Margin 14.9% 13.4% 1.4%EBITDA Margin 23.6% 19.8% 3.7%Net Profit Attributable to Owners of Parent Entity Margin 5.2% 3.3% 1.9%

RatiosROE 5.3% 3.4% 1.9%Net Debt to Equity 77.1% 82.8% -5.7%Debt to EBITDA (x) 3.2 4.7 -1.6EBITDA/Interest (x) 3.7 2.4 1.3

in billion IDR

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26.948 26.134 27.814 30.688

40.368

8.580

-0,1% -3,0%

6,4%10,3%

31,5%

5,6%

-10,0%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

-

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

45.000

2015 2016 2017 2018 2019 1Q 2020

Revenue Revenue Growth

10.646 9.856 7.960

9.331

12.714

2.704

39,5% 37,7%

28,6% 30,4% 31,5% 31,5%

20,0%

25,0%

30,0%

35,0%

40,0%

45,0%

50,0%

55,0%

60,0%

-

2.000

4.000

6.000

8.000

10.000

12.000

14.000

2015 2016 2017 2018 2019 1Q 2020

Gross Profit Gross Profit Margin

7.473 6.962

4.904

6.577

8.699

2.022

27,7% 26,6%

17,6%21,4% 21,5% 23,6%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

-

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

10.000

2015 2016 2017 2018 2019 1Q 2020

EBITDA EBITDA Margin

4.521 4.522

1.621

3.079 2.392

446

16,8% 17,3%

5,8%10,0%

5,9% 5,2%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

35,0%

40,0%

45,0%

50,0%

-

500

1.000

1.500

2.000

2.500

3.000

3.500

4.000

4.500

5.000

2015 2016 2017 2018 2019 1Q 2020

Net Profit Net Profit Margin

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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 ORSUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT ORANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER.

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.

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@semenindonesia Semen Indonesia Semen Indonesia @semenku