Corporate PresentationSeptember 2019

Company Profile

Company NamePT. Semen Indonesia (Persero) Tbk

Factory LocationsIndonesia and Vietnam.

Nature of Business

Cement Industry

Milestones

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

2. Publicly listed in IDX since 1991.

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

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

5. Acquired PT Holcim Indonesia on 2019.

Shareholders

51,01% Government of Indonesia48,99% Public

53 Million tones p.a of designed cement production capacity

#1 the largest cement producer in ASEAN

54% Market Share di Indonesia (Up to October 2019)

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

Vietnam

Facts

Market LocationsAsia, Australia, and Pacific

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

SoekarwoChairman

RUPS 22 Mei 2019

Hendrika Nora OSCommissioner

AGMS 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 PrimantoCommissioner

AGMS 31 March 2017

Board of Commissioners

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 Directors

Board of Management

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

TINA T., Born in Subang, September 23, 1959

Bachelor in Psychology from Universitas Padjajaran

Career History:

• Head of HR at Corruption Eradication Comission (KPK) (2005-2010)

• SVP Organization Development at PT Merpati Nusantara (2010-2012)

• HR Expert at USAID-AIPJ (2012-2013)

• HR Expert at GIZ Germany (2014)

• UNDP (2015-2016)

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 September 2019

Domestic Sales in Java

vs Outside of Java

73.46%

26.54%

BAG

BULK

CAGR Bulk: 13.1%

CAGR Bag: 5%

Market by Geography up to September 2019

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 September 2019

53.3%

25.8%

5.9%3.8% 2.9% 3.1%

1.6% 1.9% 1.3%0.4%

SMGR(SMIG +

SBI)

INTP Conch Bosowa MerahPutih

Baturaja Jui Shin SiamCement

STAR SemenKupang

Market Share

Sales Volume September 2019

Semen Indonesia Group Sales Volume Industry

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

Semen Indonesia

Domestic 2,465,795 2,597,844 -5.08% 2,703,180 2,695,520 0.28% 18,661,029 19,621,890 -4.90%

Export 323,101 306,117 5.55% 312,118 223,955 39.37% 2,514,326 2,305,435 9.06%

2,788,895 2,903,960 -3.96% 3,015,298 2,919,475 3.28% 21,175,355 21,927,324 -3.43%

TLCC

Domestic 125,019 147,788 -15.41% 114,228 134,394 -15.01% 969,311 1,225,434 -20.90%

Export 16,501 53,710 -69.28% 99,013 34,350 188.25% 578,629 689,228 -16.05%

141,520 201,498 -29.77% 213,241 168,744 26.37% 1,547,940 1,914,661 -19.15%

Total Group (SMGR) 2,930,415 3,105,458 -5.64% 3,228,539 3,088,219 4.54% 22,723,295 23,841,986 -4.69%

SBI (ex-Holcim)

Domestic 932,689 967,099 -3.56% 1,027,240 1,051,421 -2.30% 7,356,353 7,551,963 -2.59%

Export 97,193 - n/a 31,616 36,299 -12.90% 368,869 389,989 -5.42%

1,029,882 967,099 6.49% 1,058,856 1,087,721 -2.65% 7,725,223 7,941,952 -2.73%

SMGR + SBI 3,960,297 3,105,458 27.53% 4,287,396 3,088,219 38.83% 29,507,150 23,841,986 23.76%

*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

Year to DateSEPTEMBERAUGUST 2019 2018 + (%) 2019 2018 + (%) 2019 2018 + (%)

JAKARTA 354,707 395,530 -10.32% 388,543 426,365 -8.87% 2,913,523 3,406,421 -14.47%

BANTEN 294,059 321,037 -8.40% 337,938 347,430 -2.73% 2,450,963 2,424,405 1.10%

WEST JAVA 1,020,686 996,855 2.39% 1,141,129 1,040,874 9.63% 7,919,021 7,374,248 7.39%

CENTRAL JAVA 903,627 983,253 -8.10% 930,149 1,012,953 -8.17% 6,398,900 7,189,841 -11.00%

YOGYAKARTA 109,036 110,159 -1.02% 119,297 109,467 8.98% 1,057,020 820,404 28.84%

EAST JAVA 849,298 885,755 -4.12% 920,487 914,829 0.62% 6,637,743 6,780,673 -2.11%

TOTAL JAVA 3,531,413 3,692,589 -4.36% 3,837,542 3,851,919 -0.37% 27,377,170 27,995,992 -2.21%

SUMATRA 1,357,831 1,419,750 -4.36% 1,396,301 1,464,391 -4.65% 10,060,872 10,721,095 -6.16%

KALIMANTAN 392,317 411,175 -4.59% 418,396 417,445 0.23% 3,153,996 3,160,446 -0.20%

SULAWESI 564,350 521,133 8.29% 567,707 562,192 0.98% 4,151,800 4,030,100 3.02%

NUSA TENGGARA 344,862 352,933 -2.29% 334,437 348,036 -3.91% 2,821,475 2,776,589 1.62%

INDONESIA TIMUR 132,525 135,261 -2.02% 186,976 132,946 40.64% 1,242,980 1,096,546 13.35%

TOTAL INDONESIA 6,323,297 6,532,840 -3.21% 6,741,358 6,776,928 -0.52% 48,808,293 49,780,767 -1.95%

EXPORT SEMEN 160,058 106,087 50.87% 134,165 165,236 -18.80% 954,938 1,123,344 -14.99%

EXPORT KLINKER 519,291 435,055 19.36% 385,950 272,318 41.73% 3,779,880 3,025,935 24.92%

TOTAL EXPORT 679,349 541,143 25.54% 520,115 437,555 18.87% 4,734,818 4,149,279 14.11%

GRAND TOTAL 7,002,646 7,073,983 -1.01% 7,261,473 7,214,483 0.65% 53,543,111 53,930,046 -0.72%

SEPTEMBERAREA

AUGUST 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 – 9M’199M 2019 9M 2018 Chg YoY

(a) (b) (a:b)

Revenue 28,123 21,455 31.1%

Cost of Revenue 19,647 15,116 30.0%

Gross Profit 8,476 6,339 33.7%

Operating Expense 4,465 3,004 48.6%

Operating Income 4,011 3,336 20.2%

EBITDA 5,910 4,682 26.3%

Finance Income (Cost) (2,215) (594) 272.8%

Profit Before Tax 1,796 2,744 -34.6%

Net Profit Attributable to Owners of Parent Entity 1,295 2,087 -38.0%

Margin

Gross Profit Margin 30.1% 29.5% 0.6%

Operating Profit Margin 14.3% 15.5% -1.3%

EBITDA Margin 21.0% 21.8% -0.8%

Net Profit Margin 4.6% 9.7% -5.1%

Ratios

ROE 5.2% 8.8% -3.6%

Net Debt to Equity 89.6% 19.6% 70.0%

Debt to EBITDA (x) 4.2 1.8 131.1%

EBITDA/Interest (x) 3.0 6.5 -54.2%

Rp Billion

8,492 7,474 6,957

4,904 6,577 5,910

31.5%

27.7% 26.6%

17.6%

21.4% 21.0%

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%

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%

2014 2015 2016 2017 2018 9M 2019

Net Profit Net Profit Margin

Revenue & Revenue GrowthRevenue & Revenue Growth Gross Profit & Gross Profit MarginGross Profit & Gross 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%

2014 2015 2016 2017 2018 9M 2019

Revenue Revenue Growth

EBITDA & EBITDA MarginEBITDA & EBITDA Margin Net Profit & Net Profit MarginNet Profit & Net Profit Margin

SMGR Financial Position 9M’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