2

3

4

•

•

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•

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•

•

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•

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5

6

7

source: Indonesia Cement Association

source: Indonesia Cement Association

Bag cement still represent the largest portion of

Indonesia cement consumption

YTD March 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

74.56%

25.44%BULK

BAG

86

114

146

184 178

290

317

388 410 415 419

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

8

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 CementAssociation

52.9%

25.5%

6.7%

3.1% 3.0% 2.5% 2.3% 2.2% 1.5% 0.3%

SMGR(SMIG +

SBI)

INTP Conch Bosowa MerahPutih

Baturaja Jui Shin SiamCement

STAR SemenKupang

Market Share

10source: Indonesia CementAssociation

* Total Group (SMGR) January 2019 excluding SBI sales volume

** One small player not updated yet in March 2020

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

Semen Indonesia

(include SBI)

Domestic 2,519,214 2,621,574 -3.90% 2,490,257 2,750,342 -9.46% 7,872,294 7,518,380 4.71%

Export 309,605 340,278 -9.01% 389,072 277,489 40.21% 1,020,607 828,685 23.16%

2,828,819 2,961,851 -4.49% 2,879,329 3,027,832 -4.90% 8,892,902 8,347,064 6.54%

TLCC

Domestic 77,337 40,541 90.76% 153,670 131,508 16.85% 303,722 252,246 20.41%

Export 7,001 92,917 -92.47% 65,450 2,033 3119.00% 172,429 153,150 12.59%

84,338 133,457 -36.81% 219,120 133,541 64.08% 476,150 405,396 17.45%

Total Group (SMGR)* 2,913,157 3,095,309 -5.88% 3,098,449 3,161,373 -1.99% 9,369,052 8,752,460 7.04%

Year to DateFEBRUARY MARCH

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

Jakarta 239,315 235,899 1.45% 288,471 252,376 14.30% 784,662 754,808 3.96%

Banten 245,977 255,599 -3.76% 237,565 269,064 -11.71% 729,755 812,846 -10.22%

West Java 808,061 843,034 -4.15% 811,278 908,929 -10.74% 2,524,760 2,737,637 -7.78%

Central Java 544,592 555,904 -2.03% 539,181 597,674 -9.79% 1,716,106 1,863,367 -7.90%

Yogyakarta 78,051 125,448 -37.78% 70,799 138,971 -49.05% 227,106 386,017 -41.17%

East Java 677,303 652,349 3.83% 610,945 674,999 -9.49% 2,019,370 2,120,293 -4.76%

Total Java 2,593,300 2,668,233 -2.81% 2,558,239 2,842,012 -9.98% 8,001,760 8,674,968 -7.76%

Sumatra 1,038,425 1,022,494 1.56% 1,054,701 1,042,230 1.20% 3,165,869 3,241,944 -2.35%

Kalimantan 367,075 355,594 3.23% 299,715 355,122 -15.60% 1,006,237 1,074,386 -6.34%

Sulawesi 425,892 407,943 4.40% 448,418 464,926 -3.55% 1,336,764 1,335,830 0.07%

Nusa Tenggara 272,361 303,407 -10.23% 295,415 323,918 -8.80% 843,693 917,291 -8.02%

East Indonesia 181,515 126,074 43.97% 160,785 138,004 16.51% 549,415 429,059 28.05%

Total Indonesia 4,878,569 4,883,745 -0.11% 4,817,272 5,166,212 -6.75% 14,903,738 15,673,477 -4.91%

Export Cement 70,450 132,182 -46.70% 55,769 111,065 -49.79% 195,075 316,155 -38.30%

Export Clinker 372,057 475,956 -21.83% 512,192 454,877 12.60% 1,191,579 1,105,463 7.79%

Total Export 442,507 608,138 -27.24% 567,961 565,942 0.36% 1,386,654 1,421,618 -2.46%

Grand Total** 5,321,076 5,491,883 -3.11% 5,385,233 5,732,154 -6.05% 16,290,393 17,095,094 -4.71%

YEAR TO DATEAREA

FEBRUARY MARCH

11

TUBAN PLANT

Cap SI: 14,7 Mt/YrCap LHI : 3,6 Mt/YrPort : 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 PriokPP Ciwandan SI

PP Maluku Utara

GP Ciwandan

PP Bengkulu

REMBANG

PLANT

Cap : 3 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

PP Ciwandan SP

LHOKNGA PLANT

Cap : 1,8 Mt/Yr

Source: Internal SMIG

12

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%

Ratios

ROE 5.3% 3.4% 1.9%

Net Debt to Equity 77.1% 82.8% -5.7%

Debt to EBITDA (x) 3.2 4.7 -1.6

EBITDA/Interest (x) 3.7 2.4 1.3

in billion IDR

13

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%

-

5,00 0

10,0 00

15,0 00

20,0 00

25,0 00

30,0 00

35,0 00

40,0 00

45,0 00

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%

-

2,00 0

4,00 0

6,00 0

8,00 0

10,0 00

12,0 00

14,0 00

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%

-

1,00 0

2,00 0

3,00 0

4,00 0

5,00 0

6,00 0

7,00 0

8,00 0

9,00 0

10,0 00

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

1,00 0

1,50 0

2,00 0

2,50 0

3,00 0

3,50 0

4,00 0

4,50 0

5,00 0

2015 2016 2017 2018 2019 1Q 2020

Net Profit Net Profit Margin

14

15

IMPORTANT NOTICE

THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFERFOR SALE OR SUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FORANY 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 ORALDISCUSSIONS ONLY. THE INFORMATION CONTAINED IN THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOURINFORMATION 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 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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