Jasa Marga Update 2Q 2017

As of 30 June 2017

List of Content

Company in Brief3

Toll Road Industry in Indonesia9

Jasa Marga’s Strategic Projects12

Funding Strategy18

Financial Highlights22

2

I COMPANY IN BRIEF

1 2 4 6 7 8 9 10 11 12 13 14 16 17 18 19 19 20 31

Proven Track Record in Indonesian Toll Road Business

Leading toll road operator in Indonesia with 39 years of experience.

JORR W2 North

(Section 1-4)(2)

Semarang

Padaleunyi

Prof. Dr. Ir.

Sedyatmo

Cipularang

Jakarta Outer

Ring Road

(JORR)

Belmera

Jagorawi

Jakarta Inner

Ring Road (JIRR) (1)

Jakarta-

CikampekUlujami-

Pondok Aren

Semarang-

Solo(2)

Palikanci

Start

Operation

Toll Road

Concessions

Number of

Concessions

Total Length (km)

under

Corresponding

Concessions(3)

Jakarta-Tangerang

Surabaya-

Gempol (4)

Gempol-

Pasuruan(2)

(Section:

Bagil-Rembang)

BORR

(Section 2 & 3)(2)

1.260

Cengkareng-

Kunciran(2)

Kunciran-Serpong(2)

Surabaya-Mojokerto(2)

Bogor Outer

Ring Road

BORR

(Section 1)(2)

Surabaya-Mojokerto

(Section 1A)(2)

Semarang-Solo

(Section 1)(2)

1978 1983 1984 1986 1987 1988 1990 1991 1998 2001 2003 2009 2011 2013 2014

BORR

(Section 2A)(2)

59 84 131 223 246 329 394 437 463 469 527 531 544 554 576

Nusa Dua-Ngurah

Rai-Benoa(2)

Solo-Ngawi(2)

Ngawi-Kertosono(2)

Cinere-Serpong(2)

Medan-Kualanamu-

Tebing Tinggi(2)

2015

Semarang-Solo

(Section 2)(2)

590

Gempol-

Pandaan(2)

2016

Surabaya-

Mojokerto

(Section 4)(2)

600

Semarang-Batang(2)

Pandaan-Malang(2)

Balikpapan-Samarinda(2)

Manado-Bitung(2)

Note: (1) Jakarta Inner Ring Road (JIRR) is comprised of the Cawang-Tomang-Pluit concession granted to Jasa Marga and Cawang-Tanjung Priok-Pluit concession granted to CMNP.

(2) Jasa Marga’s newly acquired toll road concessions.

(3) The cumulative length of road represents the current total road length that corresponds to key toll road concessions in this table, not to the year where the concession started.

(4) Porong-Gempol Section (5 km) within Surabaya-Gempol Toll Road has officially been closed due to force majeure (mud) since 2006.

Jakarta-Cikampek II Elevated(2)

4

2017

Gempol-Pasuruan(2)

593

Asian Longest Toll Road Concessions

Granted all 13 concessions for operating toll roads for a 40-year period in 2005(1).

Executed 45-year concessions for 3 new toll roads in 2006 (Bogor Outer Ring Road, Semarang-Solo and Gempol-Pasuruan); 35-year concessions for 2 new toll roads in 2008 and 2009 (Cengkareng-Kunciran and Kunciran Serpong); 42-year concessions for 1 acquired toll roads in 2009 (Surabaya-Mojokerto) and 37-year concessions in 2011 (Gempol-Pandaan); 45-year concessions for 1 new toll road in 2011 (Nusa Dua-Ngurah Rai-Benoa); 40-year concessions for 1 new toll road in 2014 (Medan-Kualanamu-Tebing Tinggi), 35-year concessions for 3 acquired toll roads in 2015 (Solo-Ngawi, Ngawi-Kertosono and Cinere-Serpong), 4 new toll road in 2016 with 45-year concessions (Batang-Semarang and Jakarta-Cikampek II Elevated), 35-year concessions (Pandaan-Malang) and 40-year concession (Balikpapan-Samarinda and Manado-Bitung).

Concession years remainingConcession years exhausted 5

Company Structure

Private Toll Road Investors

Government

of Indonesia(“GOI”)

Directorate General

of Highways

Ministry of State-

Owned Enterprises

(“MSOE”)

Minister of

Public Works

Indonesian Toll Road

Authority (“BPJT”)

Road Network

Planning &

Setting of

Technical

Specifications

Private Toll Road Investors

Concession Agreement

Concession

Agreement

Ministry of

Public Works

(“MPW”)

70%

Ownership

Public

30% Ownership

Since 12 Nov

2007

Granting &

Supervising Toll

Road concessions

Government

70%

Foreign

16%

Individual

5%

Domestic

Institution

5%

Mutual

Fund

4%

Regulatory FrameworkShareholding Structure

6

738 738 799 987

1,260

2012 2013 2014 2015 2016

Concession Rights (km)

607 km Toll Road in Operation* Transactions volume

7

Market Shares

61%80%

Java Sea

Timor Sea

Strait of Malacca

Banda Sea

Indian Ocean

SULAWESI

PAPUA

KALIMANTAN

MALUKUSUMATRA

CENTRAL JAVA

Semarang: 24.75 km

Semarang-Solo: 72.64 km

Solo-Ngawi: 90.1 km

Ngawi-Kertosono: 87.02 km

Semarang-Batang: 75 km

EAST JAVA

Surabaya-Gempol: 49.00 km

Gempol-Pandaan: 13.61 km

Gempol-Pasuruan: 34.15 km

Surabaya-Mojokerto: 36.27 km

Pandaan-Malang: 37.62 km

NORTH SUMATERA

Belmera: 42.70 km

Medan-Kualanamu-Tebing Tinggi: 61.70 km

GREATER JAKARTA & WEST JAVA

Jagorawi: 59.00 km

Jakarta-Tangerang: 33.00 km

Ulujami-Pondok Aren: 5.55 km

Jakarta Inner Ring Road: 23.55 km

Prof. Dr. Ir. Sedyatmo: 14.30 km

Jakarta-Cikampek: 83.00 km

JORR: 28.3 km

Cikampek-Padalarang: 58.50 km

Padalarang-Cileunyi: 64.40 km

Palikanci: 26.30 km

JORR W2 North: 7.70 km

Bogor Outer Ring Road: 11.00 km

Cengkareng-Kunciran: 14.19 km

Kunciran-Serpong: 11.19 km

Cinere-Serpong: 10.14 km

Jakarta-Cikampek II Elevated: 36.4 km

JAVA

BALI

BALI

Nusa Dua-Ngurah Rai-Benoa: 10.00 km

: in Operation

: in land acquisition

and construction

EAST KALIMANTAN

Balikpapan-Samarinda: 99.35 km

NORTH SULAWESI

Manado-Bitung: 39.9 km

The Largest Toll Road Operator in Indonesia

*As of August 2017

18.2%15.9% 15.7%

13.2%

8.6%

Caw

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Jago

raw

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Revenue

534

739 839

1,036

498 533

176 198 216 234

113.0

119

2013 2014 2015 2016 2Q2016 2Q2017

5,268 5,907

6,282 6,891

3,381 3,453

1,088 1,121 1,095 1,127 557.82

552

2013 2014 2015 2016 2Q2016 2Q2017

Transaction Volume and Toll Revenues

GREATER JAKARTA AND WEST JAVA

NON GREATER JAKARTA AND WEST JAVA

TOP 5 Contributor 2017

8

15.2% 15.8% 15.2%

7.1%9.6%

Jak

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Jak

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Traffic

II TOLL ROAD INDUSTRY IN INDONESIA

Toll Road Development Target in Indonesia

Government’s Priority Program

Indonesia population will be grow rapidly

Car sales increase

No connectivity

Factor of Development

10

The new land acquisition law carries the following main points:• Fair price is determined through

independent appraisal.• Land owner may choose to reject

through court, yet court has to decide in 30 days (final).

• After transaction process (normal) or by court verdict, project can commence.

• Re-settlement is also an option.• The Government should carry out

socialization far in advance (transparent).

• BPN (National Land Agency) is the only body responsible for land acquisition for public interests.

Initial toll tariff is calculated based on investment feasibility, toll road user’s ability to pay and vehicle operating cost saving. Investmentfeasibility is calculated based on estimated investment cost and projected revenue during term of the concession.

Initial toll tariff is stipulated in concession agreement prior to start of construction.

Tariff adjustment is regulated by law, is calculated based on CPI and is adjusted once every two years.

Initial toll tariff setup and subsequent adjustment is decided by Minister of Public Works decree.

Tariff

Land acquisition is Government’s responsibility, is undertaken by Land National Agency

Price is determined by independent appraiser based on fair market price.

For some projects, Government takes over the land cost.

Regulation

Land Acquisition

11

III JASA MARGA’S PROJECT

Jasa Marga’s New Projectsas of 30 June 2017

Notes: (1) Section 1: Sentul-Kedung Halang (3.85 km) is operated since 23 November 2009; Section 2A: Kedung Halang-Kedung Badak (1.95 km) is operated since 04

June 2014.

(2) Section 1: Semarang-Ungaran (10.80 km) is operated since 17 November 2011; Section 2: Ungaran-Bawen (12.30 km) is operated since 04 April 2014.

(3) Section 1A: Waru-Sepanjang (2.30 km) is operated since 05 September 2011, Section 4: Kriyan-Mojokerto is operated since 19 March 2016

(4) Operated since 01 October 2013.

(5) Section Kebon Jeruk-Cileduk (5.70 km) is operated since 04 January 2014; Section Cileduk-Ulujami (2.00 km) is operated since 22 July 2014.

(6) Section Gempol-Pandaan (13.61 km) is operated since 12 June 2015.

(7) Gempol-Pasuruan: Section Bangil-Rembang (7 km) is operated since 13 April 2017.

Section Concession PeriodLength Investment Cost JSMR Ownership

(%)(km) (Rp trillion)

A. Fully Operated

1 Nusa Dua-Ngurah Rai-Benoa (4) 2057 10 2.01 55.0%

2 JORR W2 North (part of JORR) (5) 2044 7.7 2.01 65.0%

B. Half Operated

3 Gempol-Pandaan(6) 2049 13.61 1.31 92.2%

4 Bogor Outer Ring Road (1) 2054 11 4 55.0%

5 Semarang-Solo (part of Trans Java) (2) 2055 72.6 7.3 58.9%

6 Surabaya-Mojokerto (part of Trans Java) (3) 2049 36.3 4.03 55.0%

7 Gempol-Pasuruan (part of Trans Java) (7) 2058 34.15 4.17 98.8%

C. In Land Acquisition and Construction

8 JORR2 (Cengkareng-Kunciran) 35 years form effective date 14.19 4.98 76.2%

9 JORR2 (Kunciran-Serpong) 35 years form effective date 11.19 2.86 60.0%

10 Medan-Kualanamu-Tebing Tinggi 40 years form effective date 61.7 4.71 55.0%

11 Solo-Ngawi (part of Trans Java) 35 years form effective date 90.1 9.21 60.0%

12 Ngawi-Kertosono (part of Trans Java) 35 years form effective date 87.02 7.05 60.0%

13 JORR2 (Serpong-Cinere) 35 years form effective date 10.14 2.57 55.0%

14 Batang-Semarang (part of Trans Java) 45 years form effective date 75 11.04 60.0%

15 Pandaan-Malang 35 years form effective date 37.62 5.97 60.0%

16 Balikpapan-Samarinda 40 years form effective date 99.35 9.97 55.0%

17 Manado-Bitung 40 years form effective date 39.9 5.12 65.0%

18 Jakarta-Cikampek II Elevated 45 years form effective date 36.4 16.23 80.0%

TOTAL 747.97 104.54

13

Project LengthJasa MargaOwnership

Investment Cost Concession PeriodLand Acquisition

As of 30 June 2017Construction

As of 30 June 2017

Bogor Outer Ring Road 11 km 55% Rp 4.00 trillion 2054 Section 2B Kd. Badak-Yasmin: 95% 26.55 %

Cinere-Serpong 10.14 km 55% Rp 2.57 trillion35 years from effective

date45.44 % -

Kunciran-Serpong 11.19 km 60% Rp 2.86 trillion35 years from effective

date86.08% -

Cengkareng-Kunciran 14.19 km 76.2% Rp 4.98 trillion35 years from effective

date28.68% -

Jakarta-Cikampek II Elevated 36.4 km 80% Rp 16.23 trillion45 years from effective

date- 5.27 %

Toll Road Network and Jasa Marga’s Project in Greater Jakarta

Cinere-Serpong(10.14 km)

Serpong-Kunciran(11.19 km)

Kunciran-Serpong(10.14 km)

BORR(11 km)

Jakarta Cikampek IIElevated(36.4 km)

14

Toll Road Network and Jasa Marga’s Project in Java

15

Toll Road Network and Jasa Marga’s Project in Java

Project LengthJasa MargaOwnership

Investment Cost

Concession Period SectionLand AcquisitionAs of 30 June 2017

ConstructionAs of 30 June 2017

Semarang-Batang

75 km 60%Rp 11.05 trillion

45 years from effective date

Section 1 Batang –Batang Timur (3.2 km)Section 2 Batang Timur-Weleri (36.35 km) Section 3 Weleri-Kendal (11.05 km) Section 4 Kendal-Kaliwungu (13.50 km)Section 5 Kaliwungu-Krapyak (10.9 km)Terbanggi Besar-Mesuji

100%94.09% 78.15% 73.38%83.61%

-

Section 1 & 2 27.22%

Section 3 22.88 %Section 4 &5

36.86%-

Semarang-Solo72.64

km73.91% Rp 7.3 trillion 2055

Section Bawen-Salatiga (17.5 km)Section Salatiga-Kartasuro (29.02km)

100%; 97.8%

100%9.05%

Solo-Ngawi 90.1 km 59.99%Rp 5.14 trillion

35 years from effective date Section I : Solo-Mantingan (35.15 km)

Section II : Mantingan - Ngawi (34.2 km)91.74%94.11%

78.25%57.50%

Ngawi-Kertosono

87.02 km

59.99%Rp 3.83 trillion

35 years from effective date

Section I : Ngawi - Magetan (20 km)Section II : Magetan - Madiun (8.45 km)Section III : Madiun - Saradan (21.06 km)

99.45%100 %

99.51%

71.81%73.21%76.88%

Surabaya-Mojokerto

36.3 km 55% Rp 3.8 trillion 2049

Section 1A: Waru-Sepanjang (2.3km)Section 1B: Sepanjang-WRR (4.3 km)Section 2: WRR-Driyorejo (5.1 km)Section 3: Driyorejo-Kriyan (6.1 km)Section 4: Krian-Mojokerto (18.5km)

100%100%100%100%100%

100%89.72%60.01%66.45%

100%

Pandaan-Malang

37.62 km

60%Rp 5.97 trillion

35 years from effective date

Section I : Purwodadi- Pandaan (14.92 km)Section II : Lawang-Purwodadi (8 km)Section III : Pakis I - Lawang (7.5 km)Section IV : Pakis II – Pakis I (4.10 km)Section V : Malang-Pakis II (3.10 km)

85.02%78.23%96.38%

-41.66%

Section I-V: 10.84%

Gempol-Pasuruan

34.20 km

98.60%Rp 4.17 trillion

45 years from effective date

Section1: Gempol-Rembang (13.9 km) Section 2A &2 B : Rembang-Pasuruan (6.6km) Section 3: Pasuruan-Grati (13.65 km)

100% 98.80%40.60%

98.75%20.85%

-

16

Toll Road Projects in Sumatera, Kalimantan and Sulawesi

Project LengthJasa Marga Investment

CostConcession Period

SectionLand Acquisition

As of 31 June 2017Construction

As of 31 June 2017Ownership

Medan Kualanamu

Tebing Tinggi61.7 km 55%

Rp 4.71 trillion

40 years from

effective date

• Tj.Morawa – Tj. Baru (3 km)• Parbarakan-Lubuk Pakam (4.85 km)• Lubuk Pakam-Adolina• Adolina-Perbaungan• Perbaungan-Teluk Mengkudu (9.57km)• Teluk Mengkudu-Sei Rampah (7.83km)• Sei Rampah-Tebing Tinggi (9.26km)

83.60%100%100%

94.06%92.76%94.00%45.03%;

15.26%100%100%100%

89.56%88.90%

-

Balikpapan-Samarinda

99.35 km 55%Rp 9.97 trillion

40 years from

effective date

• Balikpapan-Samboja (22 km)• Samboja-Muarajawa (31 km)• Muarajawa-Palaran (17.3 km)• Palaran-Samarinda (18 km)• Sepinggan-Km 13 Balikpapan (11.1 km)

100%99.61%94.07%86.71%100%

Section 2,3&4 : 18.53%

Manado-Bitung 39.9 km 65%Rp 5.12 trillion

40 years from

effective date

• Ring Road Manado-Sukur (7.9 km)• Sukur-Airmadidi (7 km)• Airmadidi-Bitung (25 km)

93%56%62%

---

Java Sea

Strait of Malacca

SULAWESI

KALIMANTAN

MALUKUSUMATRA

NORTH SUMATERA

Medan-Kualanamu-Tebing Tinggi: 61.70 km

EAST KALIMANTAN

Balikpapan-Samarinda: 99.35 km

NORTH SULAWESI

Manado-Bitung: 39.9 km

17

III FUNDING STRATEGY

Capital Expenditure Plan 2017(billion Rupiah)

No. Item 20162017

Plan

1 Capex of Jasa Marga (Parent)2,975.6 8,261.8

a. Operational1,139.2 2,161.2

b. New Toll Road Development1,287.8 4,375.1

c. Other Business Investments416.5 1,486.6

d. Investments in Non-Operational Supporting Facilities132.1 238.9

2 Capex of Subsidiaries7,985.9 14,189.4

3 Capex of Subsidiaries for Other Business243.8 1,15.2

4 Equity Contribution to Subsidiaries(1,628.4) (3,912.3)

Total Consolidated Capex9,577.0 19,554.2

19

Financial Capacity

20

EBITDA & EBITDA Margin ICR, DER

4.01 4.29

5.23

55%

56%

59%

53%

54%

55%

56%

57%

58%

59%

60%

-

1.00

2.00

3.00

4.00

5.00

6.00

2014 2015 2016

EBITDA EBITDA Margin

3.30 3.05

3.44

1.89 1.972.27

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

2014 2015 2016

ICR DER

2015* 2016 2Q 2017

11.18%

9.33% 9.39%

10.46%

9.66%

9.37%

10.90%

9.39% 9.38%

Bank Bond Weighted Average Cost of Debt

Funding Strategy

• Planed to issue Bond/ Sukuk through Sustainable Bond II (2017 – 2019) Rp 19.8 trillion (In 2017 -Trace I up to Rp7 Trillion)

• Planed to issue Project Bond in Operated Subsidiaries

Project Bonds

• Divestment stock ownership in Kebon Jeruk-Penjaringan Toll Road (PT Jakarta Lingkar Barat Satu) up to 19,1%

• Divestment stock ownership in Semarang-Solo Toll Road (PT Trans Marga Jateng) 15% from 73,9% to 58,9%

Divestment

• Securitization from future revenue at mature section Rp 2 trillion (tenor 5 years)

Securitization

• Jasa Marga establish Trans Java Sub holding To simplify operational activity 14 toll road owned by Jasa Marga & Waskita Toll Roadand planed to go public.

• Current Status : Valuation Study

Trans Java Sub holding

21

Asset Recycling

Debt Recycling

Fund Rising

IV FINANCIAL HIGHLIGHTS

23

6,311 7,228 7,631 8,832

4,214 4,529

2013 2014 2015 2016 2Q2016 2Q2017

Revenue

36%43% 46% 47% 46%

53%

2013 2014 2015 2016 2Q2016 2Q2017

Operating Margin

54%

55%56%

59%58% 58%

2013 2014 2015 2016 2Q2016 2Q2017

EBITDA Margin

3,399 4,007 4,285

5,229

2,463 2,624

2013 2014 2015 2016 2Q2016 2Q2017

EBITDA

508581

510

906

335

543

2013 2014 2015 2016 2Q2016 2Q2017

Other Business Revenue

5,803 6,646 7,121

7,926

3,879 3,986

2013 2014 2015 2016 2Q2016 2Q2017

Toll Revenue

2,259

3,073 3,478

4,166

1,959 2,408

2013 2014 2015 2016 2Q2016 2Q2017

Operating Income

(Rp Billion Rupiah)

Positive Growth

16%20% 19%

21% 22.0% 22.4%

2013 2014 2015 2016 2Q2016 2Q2017

Nett Income Margin

Summary of Income Statements(Billion Rupiah)

24

(FYE 31 Dec)

Y2013 Y2014 Y2015 Y2016 2Q2016 2Q2017 ∆Rp ∆%

Restated Restated (Audited) (Audited) (Unaudited) (Unaudited) (YoY) (YoY)

(Audited) (Audited)

REVENUE 6,310.9 7,227.8 7,630.7 8,832.3 4,214.2 4,528.8 314.6 7.5%

Toll and Other Operating

Expenses(3,231.3) (3,562.8) (3,518.0) (4,022.9) (1,935.6) (2,104.5) (169.0) 8.7%

General and Administrative

Expenses(1,087.8) (884.8) (893.3) (949.0) (443.4) (506.9) (63.5) 14.3%

Other Expenses (33.5) (20.3) (29.8) (99.0) (19.2) (75.3) (56.1) 291.4%

Others Income 254.7 287.9 272.9 357.1 126.9 511.4 384.5 302.9%

OPERATING INCOME 2,259.2 3,072.7 3,477.7 4,165.5 1,959.1 2,408.2 449.1 22.9%

Operating Income Margin 35.8% 42.5% 45.6% 47.2% 46.5% 53.2% N/A 6.7%

EBITDA 3,398.5 4,006.8 4,285.0 5,228.5 2,462.6 2,623.9 161.31 6.6%

EBITDA Margin 53.9% 55.4% 56.2% 59.2% 58.4% 57.9% N/A -0.5%

Interest Expenses (944.2) (1,215.3) (1,405.0) (1,509.0) (744.9) (970.3) (225.4) 30.3%

INCOME BEFORE TAX 1,310.6 1,850.7 2,068.3 2,649.7 1,209.2 1,435.8 226.64 18.7%

Income Tax Expense (381.9) (613.7) (749.1) (846.6) (334.9) (475.6) (140.75) 42.0%

NET INCOME 1,027.7 1,421.7 1,466.4 1,889.3 925.5 1,016.1 90.63 9.8%

Net Income Margin 16.3% 19.7% 19.2% 21.4% 22.0% 22.4% N/A 0.5%

Summary of Balance Sheets(Billion Rupiah)

25

(FYE 31 Dec)

Y2013 Y2014 Y2015 Y2016 2Q2017 ∆Rp ∆%

Restated Restated (Audited) (Audited) (Unaudited)

(Audited) (Audited)

Cash and Cash

Equivalent3,514.1 3,290.8 3,323.2 4,124.9 4,844.9 720.0 17.5%

Other Current Assets 274.2 255.0 405.8 8,841 12,492.5 3,651.5 41.3%

Non Current Assets 24,276.2 28,314.2 32,995.9 40,534.4 48,474.6 7,940.2 19.6%

TOTAL ASSETS 28,064.5 31,860.0 36,725.0 53,500.3 65,812.0 12,311.8 23.0%

Current Liabilities 4,870.8 4,301.0 7,743.8 18,627.0 15,182.7 -3,444.3 -18.5%

Non Current Liabilities 13,004.4 16,538.2 16,612.5 18,534.5 32,771.4 14,236.9 76.8%

TOTAL LIABILITIES 17,875.2 20,839.2 24,356.3 37,161.5 47,954.1 10,792.6 29.0%

Equity 10,189.3 11,020.7 12,368.7 16,338.8 17,858.0 1,519.2 9.3%

TOTAL LIABILITIES

AND EQUITY28,064.5 31,860.0 36,725.0 53,500.3 65,812.0 12,311.7 23.0%

Forward Looking 2017

*There are changes in operating system and the integration system of transactions

Financial & Operational Performance 2016 Audited 2017 Plan ∆(YoY)

CAPEX (Rp) 9,577.0 19,554.2 104%

Revenue (Rp)

(excluding construction revenue) 8,832.3 10,286.5 16%

Traffic

(billion vehicle transactions)1.36 1.36*

Kinerja Keuangan dan Operasional 2016 Audited 2017 Plan ∆(YoY)

Total Asset (Rp) 53,500.3 74,818.7 40%

Interest Coverage Ratio 3.44 2.56 -26%

Debt to Equity Ratio 2.27 2.79 23%

(Billion Rupiah)

26

Toll Road Operation Plan 2017

Medan-Kulanamu-Tebing TinggiSection Perbarakan - Sei Rampah

Jalan Tol Semarang-SoloSection Bawen - Salatiga

Solo-Ngawi

Ngawi - KertosonoSection Ngawi - Saradan

Surabaya - MojekertoSection Sepanjang - Krian

Gempol - Pasuruan

210 KmNew Operation

Toll Road

25.0 KM

27

7,927

906

Chart Title

Toll Revenue Other Business

Manage rest area and property on the toll road coridor

To give maintenance services for Jasa Marga and other toll road investor

To give operation services for Jasa Marga and other toll road investor

Other Business Development

Toll Operation Services

Maintenance Services

Property

(Billion Rupiah)

28

88%

12%

2Q 2017

92%

8%

2Q 2016

335.3

543.3

2Q 2016 2Q 2017

62.04%

Traffic Volume by Section(Million vehicle transactions)

29

Section Branch/Subsidiary 2012 2013 2014 2015 2016 2Q2016 2Q2017

∆%

2Q17 vs.

2Q16

CAGR

2012-2016

1 Jagorawi Jagorawi 189.9 199.6 201.3 204.2 207.7 102.29 102.34 0.0% 2.3%

2 Jakarta-Cikampek Jakarta-Cikampek 194.9 202.2 206.1 215.0 221.7 110.87 104.31 -5.9% 3.3%

3 Jakarta-Tangerang Jakarta-Tangerang 107.9 113.0 119.8 127.4 130.9 64.51 64.35 -0.2% 5.0%

4 Prof. Dr. Ir. SedyatmoCawang-Tomang-Cengkareng

72.1 74.8 76.4 76.2 79.6 38.80 40.60 4.6% 2.5%

5 Jakarta Inner Ring Road 205.4 208.3 206.4 208.5 215.3 106.10 106.12 0.0% 1.2%

6 PadaleunyiPurbaleunyi

60.3 58.0 60.0 60.0 61.0 29.80 30.55 2.5% 0.3%

7 Cipularang 5.3 5.9 6.3 6.3 6.5 3.20 3.28 2.4% 5.0%

8 Surabaya-Gempol Surabaya-Gempol 75.5 81.7 82.9 89.6 97.7 47.92 48.86 2.0% 6.6%

9 Semarang Semarang 45.3 48.9 48.1 50.4 51.8 24.79 25.60 3.3% 3.4%

10 Belmera Belmera 21.7 24.0 25.4 24.8 25.8 12.58 13.74 9.2% 4.4%

11 Palikanci Palikanci 19.3 20.2 19.9 23.0 19.0 11.94 7.10 -40.5% -0.4%

12 Jakarta Outer Ring Road PT Jalantol Lingkarluar

Jakarta

139.9 146.7 151.6 90.7 95.8 46.86 47.67 1.7% -9.0%

13 Ulujami-Pondok Aren 44.3 46.9 45.1 43.7 46.1 22.50 23.38 3.9% 1.0%

14 Bogor Outer Ring Road PT Marga Sarana Jabar 11.2 12.5 13.7 15.3 16.5 7.98 7.86 -1.5% 10.1%

15 Surabaya-MojokertoPT Jasamarga Surabaya

Mojokerto8.6 11.3 12.1 13.0 15.4 7.34 8.19 11.6% 15.5%

16 Semarang-Solo PT Trans Marga Jateng 5.0 6.6 15.6 18.7 20.5 9.51 10.67 12.2% 42.6%

17Nusa Dua-Ngurah Rai-

BenoaPT Jasamarga Bali Tol - 3.3 14.3 16.5 17.5 8.15 9.18 12.6% N/A

18 JORR W2 Utara PT Marga Lingkar Jakarta - - 14.5 24.7 26.9 12.97 14.65 13.0% N/A

19 Gempol-Pandaan PT Jasamarga Pandaan Tol - - - 2.8 5.8 2.71 3.20 18.08% N/A

20 PT Trans Jatim Pasuruan - - - - 0.0 0.00 0.05 N/A N/A

TOTAL 1,206.7 1,263.9 1,319.6 1,310.8 1,361.3 670.82 671.70 0.1% 3.1%

Note : * The changes in the traffic pattern and the impact from the removal of toll gates cikopo because of integration of cluster 1 (Cikampek,Padaleunyi,Cipularang,Cikopo- Palimanan)** There is changes in traffic record as the impact of removal gate Plumbon 3, Plumbon 4, dan Ciperna Utama dikarenakan integrasi Cluster II (Palimanan-Kanci, Kanci-Pejagan,

Pejagan-Brebes Timur)

Toll Revenue by Branch/Subsidiary(Billion Rupiah)

30

Cabang/Anak Perusahaan 2012 2013 2014 2015 2016 2Q2016 2Q2017 ∆%2Q17 vs. 2Q16

CAGR 2012-2016

1 Jagorawi 508.1 548.2 607.5 620.2 697.0 343.2 341.8 -0.4% 8.2%

2 Jakarta-Cikampek 896.2 976.6 1,023.4 1,137.8 1,232.5 596.6 635.3 6.5% 8.3%

3 Jakarta-Tangerang 379.6 408.0 467.1 507.5 580.7 287.6 331.6 15.3% 11.2%

4 Cawang-Tomang-Cengkareng 1,063.6 1,110.0 1,212.3 1,247.0 1,412.7 689.5 724.7 5.1% 7.4%

5 Purbaleunyi 924.9 1,017.4 1,175.9 1,197.5 1,350.6 661.5 624.8 -5.5% 9.9%

6 Surabaya-Gempol 240.8 270.5 309.0 335.8 402.0 200.0 199.8 -0.1% 13.7%

7 Semarang 97.2 104.8 106.5 113.2 136.6 65.6 67.4 2.7% 8.9%

8 Belmera 73.2 81.6 91.3 90.2 105.5 51.8 54.8 5.7% 9.6%

9 Palikanci 100.5 107.5 112.4 133.0 169.5 80.1 86.0 7.4% 13.9%

10 PT Jalantol Lingkarluar Jakarta 1,215.7 1,055.0 1,182.4 1,163.7 1,010.2 586.0 526.7 -10.1% -4.5%

TOTAL PARENT LEVEL 5,499.8 5,679.5 6,288.0 6,545.9 7,097.3 3,561.9 3,592.9 0.9% 6.6%

11 PT Marga Sarana Jabar 41.1 45.6 67.2 86.9 100.2 46.2 49.0 6.1% 25.0%

12 PT Jasamarga Surabaya Mojokerto 13.4 17.6 18.8 20.1 36.0 15.2 22.0 44.2% 28.0%

13 PT Trans Marga Jateng 27.5 36.5 107.3 129.5 152.8 70.7 80.3 13.6% 53.6%

14 PT Jasamarga Bali Tol - 23.7 106.1 122.7 143.3 66.5 75.2 13.2% N/A

15 PT Marga Lingkar Jakarta - - 59.0 188.0 337.3 90.7 133.0 46.7% N/A

16 PT Jasamarga Pandaan Tol - - - 27.8 59.7 27.8 32.8 18.1% N/A

17 PT Trans Jatim Pasuruan - - - - - 0.3 - N/A

TOTAL SUBSIDIARY LEVEL 81.9 123.2 358.4 575.1 829.3 317.0 392.6 23.8% 78.4%

TOTAL 5,581.8 5,802.7 6,646.4 7,121.0 7,926.6 3,878.9 3,985.5 2.7% 9.2%

e-Toll Card Implementation Plan

On 21 March 2016, e-Toll payment was applicable for all SOE Bank cards in JORR, Jakarta-Tangerang and BORR.

31

No. Toll Road Section 2009 2010 2011 2012 2013 2014 2015 2016 2Q 2017

1Cawang-Tomang-Pluit

2.46% 5.57% 7.36% 11.69% 13.32% 14.72% 23.54% 36.25% 38.98%(Jakarta Inner Ring Road)

2 Prof. Dr. Ir. Sedyatmo (Airport) 2.32% 6.21% 8.11% 12.26% 14.45% 16.35% 23.95% 36.30% 37.71%

3 Purbaleunyi 0.67% 7.36% 17.97% 20.15%

4 Jakarta-Cikampek 1.13% 0.46% 6.78% 8.53% 9.01% 9.31% 17.10% 21.73%

5 Palikanci 0.78% 0.68% 0.75% 2.80% 4.68% 5.45%

6 Jagorawi 3.22% 9.97% 11.80% 14.90% 12.57% 18.83% 21.94%

7 Surabaya-Gempol 3.54% 3.30% 3.05% 7.51% 12.45% 16.20%

8 Semarang 1.59% 1.32% 2.13% 10.27% 18.87% 28.41%

9 Jakarta Outer Ring Road 11.78% 14.25% 16.04% 22.33% 30.09% 36.11%

10 Jakarta-Tangerang 8.42% 13.51% 14.72% 20.77% 33.97% 38.65%

11 Belmera 2.29% 2.52% 3.35% 4.36% 16.61% 23.10%

12 Bogor Outer Ring Road 5.06% 6.57% 17.25% 22.96% 24.62%

13 Semarang-Bawen 2.44% 12.82% 20.12% 24.13%

14 Nusa Dua-Ngurah Rai-Benoa 2.93% 1.95% 3.91% 9.86% 11.58%

15 JORR W2 North 30.99% 34.41%

TOTAL 2.42% 5.55% 5.17% 9.25% 10.92% 11.57% 15.61% 24.20% 29.16%

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