Corporate PresentationDECEMBER 2010

Cementing Path For Sustainable Growth

1

INDONESIA’S CEMENT INDUSTRYSMGR Corporate Presentation

December 2010

2

1. Semen Padang 5.9 mn ton2. Semen Gresik 9.0 mn ton3. Semen Tonasa 4.1 mn ton4. Semen Andalas 1.6 mn ton5. Semen Baturaja 1.3 mn ton6. Indocement TP 17.1 mn ton7. Holcim Indonesia 8.5 mn ton8. Semen Bosowa 1.8 mn ton9. Semen Kupang 0.5 mn ton

TOTAL 49.8 mn ton

CEMENT INDUSTRY 2008 2009 2010F 1)

CEMENT INDUSTRY AT A GLANCE

• Production Capacity : 46.6 mio ton 49.8 mio ton 51.7 mio ton• Domestic Growth : 11.5% 2.5% 6.5%• Domestic Utilization : 82% 78% 80%• Supply Domestic : 38.1 mio ton 39.1 mio ton 42.0 mio ton Export : 4.9 mio tons 4.0 mio tons 3.2 mio ton Import 2) : 1.5 mio tons 1.5 mio tons -

1) Based on Company’s forecast2) Imported cement by PT Semen Andalas as its cement plant is currently under reconstruction

Singapore

Kuala Lumpur

SMGR

44

11

55

6677

2

3

88

99

CEMENT PLAYERS and CAPACITYSMGR: 19.0 mio tonSMGR: 19.0 mio ton

33

COMPARISON: CEMENT CONSUMPTION PER CAPITA 2009

Source: Deutshe Bank; CEIC; Bahana Research, Indonesia Cement Association

0

200

400

600

800

1000

1200

China

Saudi Arabia

Singapore

ItalyMalaysia

Vietnam

USAThailand

Japan

Germany

IndiaIndonesia

Philipina

kg/capita

167

kgkg

4

INDONESIA CEMENT CONSUMPTION PER CAPITA (1997 – 2009)

123 128

141

96 94

110

125130 130

140 144 145152

162167

0

20

40

60

80

100

120

140

160

180

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

kg/per capita

Source: Indonesia Cement Association

4

18% growth in 12 years

5

Source: Indonesian Cement Association & BPS Statistic

INDONESIA HAS EXPERIENCED SOLID ECONOMIC AND DOMESTIC CEMENT CONSUMPTION GROWTH

Growth:

1.1%

Growth:

9.7%

Growth:

4.2%

Growth:

1.8%

Growth:

6.6%

Growth:

5.8%

Growth:

19.4%

Domestic consumption (LHS)

GDP growth % (RHS)

(mio tons)

DOMESTIC CEMENT CONSUMPTION, CEMENT GROWTH, GDP GROWTH AND CONSTRUCTION GROWTH IN INDONESIA

38.1

34.232.131.5

30.2

27.527.2

39.1

4.60% 6.1%

6.3%

4.4%

5.4%5.1%

4.7%

5.6%

5.8%

1.1% 1.8%

6.6%

2.5%

9.7%

4.2%

11.5%

0.0

10.0

20.0

30.0

40.0

2002 2003 2004 2005 2006 2007 2008 2009

0.0%

10.0%

20.0%Cement growth (RHS)

6

COMPANY PROFILESMGR Corporate Presentation

December 2010

7

1957 : Inauguration of Gresik I, installed capacity of 250,000 ton cement per annum 1991 : Initial Public Offering, Market Cap IDR0.63tn, resulting shareholding structure

post IPO:● Government of Republic of Indonesia: 73% ● Public: 27%

1995 : Acquisition of PT Semen Padang (Persero) and PT Semen Tonasa (Persero) 1998 : Cemex became a strategic partner, Market Cap IDR4.9tn 2006 : Blue Valley Holdings bought Cemex’s 24.9% stake in SMGR, Market Cap IDR21.5tn 2010 : In March 31, Blue Valley Holdings sold 23.65% of its stake ownership in SMGR,

Market Cap per March 31, 2010 IDR43.3tn 2010 : Targeted total installed capacity of 19.50mm tons, Market Cap per Nov 30, 2010

IDR54.6tn

Public (48.99%)

The Government of the Republic of Indonesia (51.01%)

PT Semen Gresik (Persero) Tbk.

PT Semen Padang(99.99%)

PT Semen Tonasa(99.99%)

Six subsidiaries Non-cement producers

BRIEF HISTORYBRIEF HISTORY

OWNERSHIP STRUCTURE1OWNERSHIP STRUCTURE1

SMGR IS THE #1 CEMENT COMPANY IN INDONESIA

¹ As of April 09, 2010

0,0

5,0

10,0

15,0

20,0

1957

1980

1980

1984

1985

1986

1994

1996

1997

1998

2006

2007

2008

2009

SMGR CAPACITY BUILD-OUT (MM TONS)SMGR CAPACITY BUILD-OUT (MM TONS)

Five subsidiaries Non-cement producers

888

SMGR’s COMPARATIVE & COMPETITIVE ADVANTAGE HAS DRIVEN SMGR TO BE THE MARKET LEADER IN INDONESIA

SMGR’s COMPARATIVE & COMPETITIVE ADVANTAGE

MARKET SHARE + 45%MARKETLEADERMARKETLEADER

99

Distribution warehouses in all areas of Java, Bali, Sumatra, Kalimantan, Sulawesi and Irian 14 large packing plants Nationwide distribution network Operate 4 special sea ports: Padang, Tuban, Gresik, Biringkassi Total installed cap. EoY 2008: 18.0 mn tons and EoY 2009: 19.0 mn tons

SMGR’s PRODUCTION FACILITIES ARE WELL SUPPORTED BY STRATEGICALLY LOCATED MARKETING AND DISTRIBUTION FACILITIES (2009)

TelukBayur

Sumatera

Kalimantan

SulawesiMaluku

Papua

LombokBaliJava

Batam

Ciwandan

Tanjung Priok Jakarta

Samarinda

Banjarmasin

Palu

Bitung

Ambon

Makassar

Biringkasi

BaliTabananDenpasarSingarajan

DI YogyakartaLempuyanganJanti

Central JavaTegalPurwokertoKudusMagelangSolo/PalurAlas TuwoMojopahitSayung

West JavaSerangTangerangBogorCibitungBandungTasik MalayaCirebonNarogong

Belawan

Singapore

Kuala Lumpur

Tuban

Surabaya

Cement Plant

Packing Plant

Port

Warehouse

East JavaMargomulyoTanjung WangiBangkalanSwabina

Aleh

Pelabuhan Tuban

Pelabuhan Gresik

Installed Cap.:5.9 mn tons

Installed Cap.:9.0 mn tons

Installed Cap.:4.1 mn tons

101010

87289601

12209

14.387

33284001

5354

6.774

15391999

7532

2892 3387

4.342

23971779

4.772

3867

28482234 3.326

2523177512961002

0

2000

4000

6000

8000

10000

12000

14000

16000

2005 2006 2007 2008 2009

Revenue Gross Profit Operating Profit Ebitda Net Profit

(Rp billions) CAGR(2005 – 2009)

Revenue 18%

Gross Profit 24%

Operating Income 30%

EBITDA 24%

Net Income 35%

Total assets 15%

Total Equity 23%

SGG HAS EXPERIENCED ROBUST FINANCIAL GROWTH

1111

STRONG BALANCE SHEET AND RETURNS

Cash balance (IDR bn) Total debt (IDR bn)

2.939

5.2823.836

1.424 1.929

2005 2006 2007 2008 2009

CAGR (05—09) 39%

151

854

224 159 180

2005 2006 2007 2008 2009

CAGR (05—09) -35%

* Include short term investment

Debt/EBITDA

0,10x

0,40x

0,03x0,06x 0,05x

2005 2006 2007 2008 2009

Return on Assets

17,3%13,7%

25,7%20,8% 23,8%

2005 2006 2007 2008 2009

1212

2.5% 3.0% 2.7%

5.2%

4.1%

2005 2006 2007 2008 2009

Average: 3,5%

1.8% 1.1%

4.1%

0%

JSX

Top-20

*)

INTP SMCB SMGR

SMGR DIVIDEND YIELD IN THE LAST 5 YEARS 1)SMGR DIVIDEND YIELD IN THE LAST 5 YEARS 1)

*):Based on median of Top-20 Biggest Market Capitalization JSX listed companies in dividend yield, excluding Semen Gresik for FY2009

2009 DIVIDEND YIELD 1)2009 DIVIDEND YIELD 1)

REGULAR DIVIDENDSREGULAR DIVIDENDS

Key determinants of dividend policy:• Historical dividend payout trends• Comparison with peers• Projected cash-flows available for dividends (after taking into account

potential expansionary capex etc)• Analyst and investor expectations• Shareholder profile

REGULAR DIVIDEND PAYMENTS WITH ATTRACTIVE YIELD

1) shares price based on closing price at the end of year

13

3980

5160 5300 56005000

40003425

41753725

4900

6300

7550 7300

87509250

8700

9,900 9,8009,200

1805.521830.922139.282359.21

2745.832447.3 2349.1

1832.51355.4 1434.07

2020.782467.592534.35

2777.3 2913.683,069.283,081.883,501.303,635.323,531.21

3630

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

10000

28-Dec-06

30-Mar-07

29-Jun-07

28-Sep-07

28-Dec-07

31-Mar-08

30-Jun-08

29-Sep-08

30-Dec-08

31-Mar-09

30-Jun-09

30-Sep-09

30-Dec-09

31-Mar-10

30-Jun-10

30-Jul-10

31-Aug-10

30-Sep-10

29-Oct-10

30-Nov-10

SMGR JCI

SMGR STOCK PRICE HAS CONTINUED TO OUTPERFORM JCI

14

MARKET UPDATE (11M2010)

SMGR Corporate Presentation

December 2010

MARKET UPDATE (Cement Sales 11M2010) *)

DESCRIPTION 11M2010 11M2009 CHANGE (%)

DOMESTIC 15.90 16.17 (1.7)

EXPORT 0.24 0.61 (59.8)

GRAND TOTAL 16.15 16.78 (3.8)

SMGR Sales Volume (million tons)

DESCRIPTION 11M2010 11M2009 CHANGE (%)

Jakarta 3.43 3.28 4.7

Banten 1.88 1.74 8.2

West Java 5.31 5.03 5.6

Central Java 4.06 4.13 (1.9)

Yogyakarta 0.54 0.56 (3.3)

East Java 4.59 4.58 0.2

Total Java 19.84 19.35 2.5

Sumatera 8.73 7.93 10.1

Kalimantan 2.57 2.28 12.9

Sulawesi 2.72 2.75 (0.8)

Nusa Tenggara 2.18 2.02 7.8

Maluku & Papua 0.80 0.82 (1.8)

TOTAL INDONESIA

36.87 35.16 4.9

Export Semen 0.69 1.19 (41.7)

Export Clinker 1.89 2.59 (27.1)

Total Export 2.58 3.78 (31.7)

GRAND TOTAL 39.46 38.95 1.3

Industry Sales Volume (million tons)

*) Source: Indonesia Cement Association, un-audited figures*) Source: Indonesia Cement Association, un-audited figures

15

1616

MARKET BY GEOGRAPHY (11M2010)

Domestic Consumption – Java remains as the largest market*)

23.7%

7.4%7.1%

5.9% 2.3%East of Indonesia

Nusa Tenggara

Kalimantan

SulawesiJava53.6.%

Sumatera

Domestic Market Share*)

*) Source: ASI (Indonesia Cement Association)*) Source: ASI (Indonesia Cement Association)

SG

SP

ST

1

2

3

4

5

6

REGIONMARKET SHARE (%)

SMGR INTP SMCB BSWA ANDLS BTRJA

1. JAVA 38.2 40.2 19.2 2.4 - 0.04

2. SUMATERA 44.3 15.6 9.3 2.2 16.6 11.9

3. SULAWESI 60.7 15.8 0.8 22.7 - -

4. KALIMANTAN 54.6 26.3 10.4 8.7 - -

5. NUSA TENGGR. 36.9 39.3 4.2 19.6 - -

6. EASTERN IND. 70.7 15.8 0.9 12.5 - -

TOTALINDONESIA

43.1 31.0 13.6 5.5 3.9 2.9

DOMESTIC MARKET CONSUMPTION

Retail (residential) sector is the largest consumer of cement in Indonesia

17

Bag80%

Bulk20%

Key Drivers of Domestic cement demand:• National Economic Growth• Favorable Interest Rate Environment

• Infrastructure Expansion• Per Capita Consumption increase from current low levels

• Ready-mix (infrastructure): ± 50%

• Fabricator (pre-cast, fiber cement, cement based industry): ± 45%

• Projects (mortar, render): ± 5%

• Ready-mix (infrastructure): ± 50%

• Fabricator (pre-cast, fiber cement, cement based industry): ± 45%

• Projects (mortar, render): ± 5%

• Housing: ± 90%

• Cement based industry: ± 10%

• Housing: ± 90%

• Cement based industry: ± 10%±

±

Source: Internal Research

18

FINANCIAL UPDATE (9M2010)

SMGR Corporate Presentation

December 2010

1919

FINANCIAL SUMMARY (9M-2010 RESULTS)

EBITDA (Rp billion)

NET INCOME (Rp billion)NET INCOME (Rp billion)

EBITDA Margin (%)EBITDA Margin (%)

9M06 9M07 9M08 9M09 9M10

27.1 29.2 31.6 32.5 34.5

NET INCOME Margin (%)NET INCOME Margin (%)

9M06 9M07 9M08 9M09 9M10

15.8 17.9 20.3 23.1 24.5

354633792783

20631760

5001000150020002500300035004000

9M-06 9M-07 9M-08 9M-09 9M-10

25222408

1791

12721027

400800

12001600200024002800

9M-06 9M-07 9M-08 9M-09 9M-10

Description(Rp bn)

9M-09 9M-10 Change (%)

Net Revenue 10,404 10,292 (1.1)

Cost of Revenue 5,647 5,356 (5.1)

Gross Profit 4,757 4,936 3.8

Operating Income 3,059 3,207 4.8

EBITDA 3,379 3,546 4.9

Net Income 2,408 2,522 4.7

EPS (full amount) 411 425 3.5

20

STRATEGIC PROJECTSSMGR Corporate Presentation

December 2010

2121

Cement Finish GrindingPreparation Bored Pile

Coal StorageSteel Structure

Cement SiloPile Cap Preparation

Jetty Extension Area

TubanTuban

TonasaTonasa

TonasaTonasa

New Power Plant Area

New Plants Location

Capacity (mn tons)

Investment (US$ mn)

Construction

Start Completed

Java 2.5 304 2008 2012

Sulawesi 2.5 290 2008 2011

Sub Total 5.0 594

Power Plants Location

Capacity (MW)

Investment (US$ mn)

Construction

Start Completed

Sulawesi 2 x 35 114 2010 2012

TOTAL CAPEX US$ 708mn

STRATEGIC PROJECTS

Main SubstationElectrical Equipment Foundation

These strategic projects will ensure sustainability of the Company’s market leadership

Progress of Tonasa V Cement Plant Project Progress of Tuban IV Cement Plant Project

Progress of Power Plant Project - Tonasa 2 x 35 MW

Packer Tuban IV Cement Silo Tonasa V

PROGRESS OF CEMENT & POWER PLANT PROJECTS – Nov. 15, 2010

22

Description Weight Planning Actual

Preparation 0.61% 70.15% 76.62%

Management 3.77% 58.15% 68.45%

Engineering 4.34% 75.53% 82.86%

Procurement 61.94% 66.02% 68.15%

Construction 27.46% 37.01% 23.10%

Commissioning 1.88% 0.00% 0.00%

Total 100 % 56.95% 55.20%

Description Weight Planning Actual

Preparation 0.98% 74.47% 82.09%

Management 3.43% 64.81% 65.89%

Engineering 4.53% 92.74% 96.32%

Procurement 60.40% 72.98% 73.25%

Construction 28.67% 38.95% 38.97%

Commissioning 1.99% 3.52% 3.52%

Total 100 % 62.47% 62.91%

Description Weight Planning Actual

Preparation 2.63% 74.31% 73.35%

Management 4.60% 52.13% 52.18%

Engineering 5.75% 11.54% 13.10%

Procurement 55.13% 6.71% 4.49%

Construction 26.45% 0.56% 1.71%

Commissioning 5.44% 0.00% 0.00%

Total 100% 8.86% 8.01%

2323

PRODUCTION CAPACITY (Mio Ton)

20.5

24.027.0

17.716.715.2

1.00.7

1.8

2007 2008 2009 2010F 2011F 2012F 2013F

17.118.0 19.0

19.5

Export sales ▪

Domestic sales ▪

Export sales ▪

Domestic sales ▪

2424

Detailed capex schedule (US$ mm)Detailed capex schedule (US$ mm)

9 55 297 3 3 30.67

64.82

2 6 5 617

30

37 37 415

31 34

265

9

68

264

230

272

14

24

66

5

5

68

7

7 72

10

108

5

440

222

402383

102

56 57

2008 2009 2010 2011 2012 2013 2014

TotalHCMP & ICTMandatoryPower plants (under review)Capacity exp.OthersMaintenanceEfficiency Improvement

23

7

25

2008 2009 2010 2011 2012 2013 2014

% 3% 18% 32% 30% 8% 4% 5%

Key Items (Capex) (US$ Mio)Capacity Expansion 594

Power Plants 114

De-bottlenecking 106

Human Capital Master Plan & ICT 40

Others 101

Maintenance 227

Efficiency Improvement 35

Mandatory 45

Total Capex 1.262

CAPEX PLANNING PROFILE (2008 – 2014)

25

ENVIRONMENTAL FOCUSSMGR Corporate Presentation

December 2010

2626

Generate revenue

Emissions reduction programs

Carbon credits trading

Environmental Management

Reduce operating expense

Energy efficiency programs

Technology-driven cost savings

Promote company image

Domestic capacity expansion

Investment communities

SMGR IS FOCUSED ON DRIVING VALUE THROUGH AN ENVIRONMENTALLY-SUSTAINABLE BUSINESS PLATFORM

1. Alternative Fuel

The use of alternative fuel is the company’ strategy plan in order to improve non renewable energy efficiency as well as consume friendly environmental energy.

2. Waste Heat Recovery Power Generation

Utilize exhaust (waste gas) from pre-heater & cooler to produce electricity (power plant).

3. Shifting Coal Consumption from High-Medium CV to Low CV by 2011

4. Environmental Management System:

• Environment Monitoring Program• Environment Management Program• Resources Conservation Program• Community Development Program

• Environment Monitoring Program• Environment Management Program• Resources Conservation Program• Community Development Program

27

FUTURE OF INDONESIA’S CEMENT INDUSTRYSMGR Corporate Presentation

December 2010

2828

Pessimist : 5.5%

Moderate : 6.5%

Optimist : 7.0%

Annual Growth Rates

NATIONAL DEMAND IS FORECAST TO RISE TO 142mm TONS BY 2030

Indonesia Cement Market Growth 2010-2030

43 46 49 52 56 59 63 6772

8186

9298

104111

118125

133

117

40

76

142

163

0

20

40

60

80

100

120

140

160

180

2010 2015 2020 2025 2030

Pessimist

Moderate

Optimist

Indonesia’s demand growth will make it the largest cement producer in Southeast Asia

Source: Internal Research

2020:76 miotons

2030:142 mio

tons

2030:142 mio

tons

2929

DEMAND IN 2010-2030 WILL INCREASINGLY SHIFT TO THE OUTER ISLANDS

SMGR with its wide geographical presence is well positioned to tap the growththroughout Indonesia

Malaysia

Timor Leste

MalaysiaMalaysia

Timor LesteTimor LesteTimor Leste

22 50

10 39

3 20 3 16

1 6

2 11

Kalimantan17 MT (618%) Sulawesi

13 MT (406%)

Bali9 MT (403%)

Java28 MT (130%)

Sumatera29 MT (310%)

East of Indonesia 5 MT (625%)

2010

2030

Key

Figures are in MT

202020

8 7

2

534

Source: Internal Research

21,0

6,5

18,1

1,0

16,9

1,9

20,0

2,3

22,7

3,0

23,7

3,5

23,7

3,8

25,2

5,0

25,5

6,0

26,9

5,1

28,2

6,0

32,2

5,9

32,8

6,2

0

5

10

15

20

25

30

35

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Bag Consumption Bulk Consumption

SO FAR INFRASTRUCTURE EXPANSION HAS BEEN RELATIVELY SLOW

Bag and Bulk cement consumption 1997 – 2009 (million tons)

30

Source: Credit Suisse Research, Indonesia Cement Association, the Company’s data

3131

Transportation 2,458

Rai lways 11,960

Toll roads15,248

Power 3,695

Water resources 779

Project Value by Sector (US$ million) 2010-2014

Toll RoadProject Status

No. of projects

Project value

(USD mio)

Length(Km)

Cement demand

(MT)

Projects Ready For Offer 3 1,000 135 405

Priority Projects 8 2,474 342 1,026

Potential Projects 19 11,774 857 2,571

TOTAL 30 15,248 1,334 4,002

Source: National Development Planning Agency/Redwing estimates

INDONESIA PLANS TO INVEST HEAVILY IN INFRASTRUCTURE – PARTICULARLY TOLL-ROADS

TOTAL VALUE: US$34,140 mn

Details Toll Road Projects

3232

IN ADDITION TO CEMENT DEMAND FROM TOLL ROAD PROJECTS, THE MULTIPLIER EFFECT WILL FURTHER STRENGTHEN RETAIL CEMENT DEMAND

Riau480,000

Riau480,000

W. Java507,000

W. Java507,000

Lampung600,000

Lampung600,000

S. Sumatera216,000

S. Sumatera216,000

N. Sumatera408,000

N. Sumatera408,000

Jabotabek264,000

Jabotabek264,000

E. Java693,000

E. Java693,000C. Java

507,000

C. Java507,000

Bali24,000

Bali24,000

W. Sumatera165,000

W. Sumatera165,000

N. Sulawesi138,000

N. Sulawesi138,000

Potential cement demand : Toll road projects 2010 to 2014

Source: National Development Planning Agency/Redwing estimates

TOTAL CEMENT DEMAND: 4,002 MT

3333

SMGR LONG TERM STRATEGIC FOCUS

SMGRSMGR

THE OVERALL

STRATEGY

COMBINES

6 CRITICAL

ELEMENTS

THE OVERALL

STRATEGY

COMBINES

66 CRITICAL

ELEMENTS

1. Undertake Capacity Growth

2. Manage Energy Security

3. Enhance Company Image

4. Move Closer To The Customer

5. Enable Corporate Growth

6. Manage Key Risks

1. Undertake Capacity Growth

2. Manage Energy Security

3. Enhance Company Image

4. Move Closer To The Customer

5. Enable Corporate Growth

6. Manage Key Risks

APPENDIXSMGR Corporate Presentation

December 2010

35

INDONESIA AT A GLANCE

Area : 1.9 million km2

Capital City : Jakarta Significant Islands : Java, Sumatera, Kalimantan, Sulawesi, Nusa Tenggara Islands, Papua• Population (2009) : 230 Million• Population Growth : 1.3% p.a.

2008 2009 2010F• Annual GDP Growth : 6.1% 4.5% 5.5%• Annual Inflation rate : 11.1% 2.8% 5.5%• BI Rate (year end) : 9.25% 6.5% 7.25%• US$ Exchange Rate : Rp10,950 Rp9,400 Rp9,100

Singapore

Kuala Lumpur

Jakarta

*

Sumatera

Java

Kalimantan

Sulawesi

Papua

Nusa Tenggara Islands

3636

Main Office:Main Building of Semen Gresik

Jln. Veteran Gresik 61122 –Indonesia

Phone: (62-31) 3981731 -2, 3981745Fax: (62-31) 3983209, 3972264

Representative Office:Gedung The East, 18th Floor,Jln. Lingkar Mega Kuningan Kav. E3.2 No. 1, Jakarta 12950 – IndonesiaPhone : (62-21) 5261174 – 5Fax : (62-21) 5261176

www.semengresik.com

THANK YOUTHANK 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 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: ● 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.

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