PT Alam Sutera Realty TbkAnalyst Meeting

Jakarta, 15 April 2013

Chapter 1 Industry Overview 3

Chapter 2 Company Update 5

Appendix 19

Table of Contents

2

Chapter 1

Industry Overview

Industry Overview

Text

1

2

Low Interest

Rate

Strong

Demand

Increase Selling

Price

34

Rising of Middle

Class Income

The scarcity of

strategic

landbank5

6

Less Impact from

LTV regulation

4

Correlation between BI Rate and Mortgage Loans

5

Population Growth

6

Jakarta Office Area Growth

7

• For coastal soaring are price growing more

than 25% for each region from the end of

2011-2Q12

• Real Estat Indonesia (REI) noted the rise

in land prices in Bali reached 400% per

year.

Property Price Increase in Bali

• An Increase of 45% in areas that are not

facing the beach

• An increase of price in Seminyak area

for more than 100% from 2010-2011..

8

Chapter 2

The Company Development

10

5132

4

10

8

6

Overview of the property portfolio

No Location Area (ha) Project Description Notes

1 Serpong, Tangerang 219 Alam Sutera

2 Pasar Kemis, Tangerang 1,505 Pasar Kemis In addition to the 1,403 ha landbank, ASRI has acquired more land in Pasar Kemis,

to which it is in the process of obtaining or perfecting the relevant title.

3 Serpong Utara, Tangerang 160 Extension of Alam Sutera

township

In addition to the 132 ha of land, ASRI is in the process of acquiring an additional

150 ha of land in this area from PT Modernland Realty Tbk.

4 Jakarta CBD 1

Jakarta CBD 2

0.9

0.8

In Golden Triangle

Jakarta

ASRI has entered into a conditional sale and purchase agreement to acquired the

Wisma Argo Manunggal building as well as ~8,434 sqm of land onwhich the building

stands.

5 Kuta, Bali 60 Garuda Wisnu Kencana

Cultural Park

6 Cibitung, Bekasi 107 Future land Development ASRI has entered into a MOU to dispose the land to an affiliated company, PT

Bekasi Fajar Industrial Estate Tbk

7 Cianjur, West Barat 89 Future land Development

8 Sanur, Bali 6 Future land Development

9 Puncak, Cimacan 9 Future land Development

10 Tanjung Pinang, Riau 75 Future land Development

Total 2,231 As of 31 March 2013 (gross land area)

7

9

Internal NAV Calculation

No Asset Area Amount

(Rp billion)

1 Serpong 219 Ha 17,284

2 North Serpong 160 Ha 3,342

3 Pasar Kemis 1,505 Ha 8,799

4 Mall @ Alam Sutera Ha 1,334

5 Cibitung 107 Ha 1,080

6 CBD Kavling 12 9,255 M2 1,000

7 GWK 61 Ha 900

8 Flavor Bliss 7 Ha 896

9 CBD Kavling 22 8,434 M2 360

10 Sanur Bali 6 Ha 227

11 Cianjur 89 Ha 111

12 Riau 75 Ha 30

13 Etc Ha 774

Total 36,137

Note:

• As of 31 March 2013

• Based on the latest appraisal report, except

for no.6

11

ASRI evolution and growth of the business comes from the successful execution of the Company’s strategy

Independent

Township

Development

Projects in

Development

Project has been

completed

Source of

Recurring Income

Alam Sutera Pasar Kemis Alam Sutera Pasar Kemis Proyek GWK

ASRI di 2011 ASRI di 2013

Synergy Tower Oak dan Maple Mall@Alam Sutera

Synergy Tower Oak dan Maple Mall@Alam Sutera WAM

Prominence Tower Kav 12

Mall@Alam Sutera WAM

GWKFlavor

Bliss

Estate

Management

Pasar 8Estate Management Pasar 8 Flavor Bliss

Apartemen Baru

Project Development

12

Alam Sutera Project

• Launching 4 residential clusters

in 2012:

Sutera Renata Aruna (January)

Sutera Sitara Mentari (March)

Sutera Sitara Orlanda (May)

Sutera Tiara (September)

• Launching 2 residential cluster in

2013:

Sutera Palmyra (January)

Sutera Victoria (February)

13

• Suvarna Padi Golf Estate is a golf residential estate with

18 holes golf course designed by Rick Robbins from

Robbins & Associates International Inc.

• In October 2011 launched 2 clusters, Akasia and Cempaka

(first stage).

• In July 2012 launched 2 new clusters, Mahoni and Puri

Ayu, as well as opening second stage of Akasia and

Cempaka clusters.

• In March 2013 launched new cluster, Puri Agung

14

GOLF INFRASTRUCTURE CONSTRUCTION HOUSING CONSTRUCTION

Pasar Kemis Project

Price is including 10% VAT

0

2

4

6

8

10

12

2007 2008 2009 2010 2011 2012

In ID

R m

illio

n p

er

m2

Serpong

Residential

Commercial

1.3

1.7 2.5 3.0 3.3

4.4 3.8

6.55.5

10.4

9.0 9.1

0

1

2

3

2011 2012

In ID

R m

illio

n p

er

m2

Pasar Kemis

Residential

2.12.8

Average Selling Price of Land

15

Increase the scale of operations, business diversification and

increasing recurring income

Wisma Argo Manunggal

Location Jl. Jend. Gatot Subroto Kav. 22

Acquired from PT Daya Sakti Perdika

Acquisition price Rp 327 billion

Land area 8,434 m2

Building GFA 18,165 m2

Leasable Area 13,809 m2

Occupancy* 90.3%

Average rental rate* Rp 75,000 / m2 / month

Average service

charge*Rp 44,800 / m2 / month

Potential

redevelopment

• Existing building will continue

to operate until 2014

• Demolished the existing C-

grade building and build a

new 40 storey A-grade office

building in 2015

Kav. 12

Location Jl. Jend. Gatot Subroto Kav. 12

Acquired from Third party

Land site area 9,522 m2

BuildingGFA 67,214 m2

Semigross Area 60,000 m2

Launch date April 2013

Construction start

dateSeptember 2013

Target Completion

dateApril 2016

Est construction cost* Rp 650 billion

Est ASP Rp 33 mn / sqm

Plan

• Existing building had been

demolished

• An A-grade new office

building will be built and

mainly sold as a strata title.

1

2

Note:

1 Jones Lang Lasalle, Asia Pacific Property Digest 4Q 2012

Prime locationwithin the 'Golden Triangle of Jakarta', a

concentrated area of business and commercial establishments in

Jakarta

Foreign embassy district less than 2km away from the 2 buildings

raises the profile of the surrounding area

5 star luxury hotels around the 2 buildings within the Golden

Triangle makes it a convenient business location

Kav. 12

WAMBursa

Efek

Indonesia

Plaza

Semangi

Pintu

masuk

utama ke

CBDC

A

B

1

2

3

1 2

Project Office in Jakarta's Central Business District

16

Future development and growth of Alam Sutera Township is underpinned by numerous projects undertaken by

ASRI and third parties who have acquired land in the township

Prominence Tower

A 30-storey strata-title office building

located in Alam Sutera

Silkwood Residences

Four more 30-storey towers to be

developed adjacent to the Oak and Maple

Towers

Third party projects increase the attractiveness of the

Alam Sutera Township as a residential and commercial

destination hence promoting its long term growth

Binus University

Mecure Hotel

Giant Hypermarket

Living World Mall

Office Tower

Menara Top Food

Kentucky Fried Chicken

Towe 3

Land Site Area 6,000 sqm

Building GFA 25,800 sqm

Semigross Area 24,000 sqm

Number of units 450

Launch date Jul 2013

Construction start date Sep 2013

Target completion date 2H 2015

Est. selling price IDR 14m / sqm

Est. construction cost IDR 129 bn

Status Planning

Developer ASRI

Prominence Tower

Land Site Area 13,981 sqm

Building GFA 50,000 sqm

Semigross Area 42,360 sqm

Launch date Feb 2013

Construction start date Mei 2013

Target completion date Mei 2015

Est. selling price Rp15 mill/ sqm

Est. construction cost Rp 263 bn

Status Marketing

Developer ASRI

Serpong Development

17

GWK Project masterplan comprises the existing cultural park and phases for future development Acquisition

Acquisition is

complete

• Acquisition completed in Jul 2012

• Total acquisition of IDR 812.6bn for a 90.3% stake in the project

• Bali Tourism Development Corporation owns the remaining 9.7%

• Acquisition paid and financed by bank loans and internal cash

Master Planning

underway

• Appointed AECOM to designed the Master Plan

• Strategy is to retain the cultural park for recurring income

• Sell land in residential/hotel area, may keep some land for self development of projects

Phase 1 of the

development to

commence in June

2013

• Construction of the Pedestal and the Garuda Wisnu Kencana statue to commence in June 2013

• Total CAPEX budget of IDR450 bn, funded by bank loans and internal cash

• Expected to take 30-36 months and target completion date is end 2016

• Statue to be designed and built by Nyoman Nuarta, Indonesia's foremost modern sculptor

Future

developments in

planned phases

• Development of residential/commercial facilities in the GWK Park

• Could involve sale of land to third party developers

• Still preliminary

Acquisition of GWK Project in Bali is complete and development is underway

Garuda Wisnu Kencana

18

2008 2009 2010 2011 2012 2013

January 12,059 9,995 163,122 303,075 407,809 233,488

February 18,161 15,612 142,555 47,198 538,571 680,771

March 16,855 92,748 152,655 121,440 741,419

April 25,431 35,157 158,442 265,675 87,081

May 157,440 40,638 180,026 114,985 320,851

June 17,842 80,229 221,273 163,846 50,523

July 15,452 91,300 163,941 313,847 399,238

August 43,206 111,014 119,180 629,156 265,188

September 37,743 173,119 76,562 369,411 464,681

October 105,876 185,361 62,555 198,486 169,629

November 43,565 68,264 94,106 169,335 174,355

December (1,406) 119,385 73,412 115,047 28,526

Total 492,224 1,022,822 1,607,829 2,811,501 3,647,871 914,199

Termasuk PPN 10%

In IDR Million

19

Consolidated Marketing Sales

2007 2008 2009 2010 2011 2012

Revenues 308 435 419 791 1,381 2,446

Gross Profit 74 111 168 406 814 1,467

Operating Profit 32 55 116 333 694 1,254

Net Profit 20 59 94 291 603 1,216

Cash 425 365 546 904 1,130 2,012

Assets 2,966 3,057 3,560 4,588 6,008 10,946

BankLoan 733 724 804 669 554 796

Bond Payable - - - - - 1,385

Sales Advances 286 273 578 1,391 2,313 3,378

Liabilities 1,263 1,294 1,625 2,372 3,221 6,215

Equity 1,696 1,755 1,935 2,216 2,787 4,732

Ratio:

Liability to Assets 42.6% 42.3% 45.6% 51.7% 53.6% 56.8%

Liability to Equity 74.4% 73.7% 84.0% 107.0% 115.6% 131.3%

Debt to Equity 43.2% 41.2% 41.5% 30.2% 19.9% 46.1%

Gross Profit Margin 24.1% 25.5% 40.0% 51.4% 59.0% 60.0%

Net Profit Margin 6.6% 13.5% 22.5% 36.8% 43.6% 49.7%

Return on Assets 0.7% 1.9% 2.6% 6.3% 10.0% 11.1%

Return on Equity

1.2% 3.4% 4.9% 13.1% 21.6% 25.7%

In ID

R B

illion

20

Financial Highlights

21

No Items Description

1 Issuer Alam Sutera International Private Limited

2 NotesUS$ 150,000,000 aggregate principal amountof 10.75% Senior Notes due 2017

3 Rating B2 (stable) from Moody’s and B (stable) from S&P

4 Maturity Date 27 March 2017

5 Coupon Rate 10.75% per annum, payable semi-annually in arrears.

6 Interest Payment Date 27 March and 27 September of each year, commencing 27 September 2012

7 Use of Proceeds • Approximately 80% forthe acquisition of landbank in GreaterJakarta, primarily in Alam Sutera and

Pasar Kemis and their surrounding area; and

• Approximately 20% for the construction and development of properties

8 Hedging Policy • Principal is hedged with call spread IDR 9,400 -IDR 11,000

• Hedging cost is 1.3% -1.35% p.a.

• Company will keep ~USD 24 million (3x coupon payment) as a hedge.

9 USD Bonds Issuance Rationale

vs.IDR Bonds

• USD bonds is unsecured, no collateral required

• Broader liquidity access in the global market

• Diversification of source of financing

• increase Company’s recognition in the debt capital market

USD Bonds 1 -Alam Sutera International Private Limited

22

No Items Description

1 Issuer Alam Synergy Pte. Ltd.

2 Notes US$ 235,000,000 aggregate principal amountof 6.95% Senior Notes due 2020

3 Rating B1 stable / B stable/ B+ Stable (Moody’s / S&P / Fitch)

4 Maturity Date 27 March 2020

5 Coupon Rate 6.95% per annum, payable semi-annually in arrears. .

6 Interest Payment Dates 27 March and 27 September of each year, commencing 27 September 2013

7 Use of Proceeds Land acquisitions including those acquired from Modernland; to pay the remaining acquisition

costs of WismaArgo Manunggal(WAM) office tower; to refinance existing bank facilities; to

develop residential and commercial properties; and for general working capital purposes

8 Hedging Policy • Principal will be hedged

• Company will keep ~USD 24 million (3x couponpayment) as a hedge.

9 USD Bonds Issuance Rationale

vs.IDR Bonds

• Interest rate has been low

• USD bonds is unsecured, no collateral required

• Broader liquidity access in the global market

• DIversification of source of financing

• Increase Company’s recognition in the debt capital market

USD Bonds 2-Alam Synergy Pte.Ltd.

DISCLAIMER

This presentation may contain forward-looking statements that involve risks anduncertainties. Actual future performance, outcomes and results may differ materiallyfrom those expressed in forward-looking statements as a result of a number of risks,uncertainties and assumptions.

Representative examples of these factors include (without limitation) general industryand economic conditions, interest rate trends, cost of capital and capital availability,availability of real estate properties, competition from other companies and venues forthe sale/distribution of goods and services, shifts in customer demands, customersand partners, changes in operating expenses, including employee wages, benefits andtraining, governmental and public policy changes and the continued availability offinancing in the amounts and the terms necessary to support future business. You arecautioned not to place undue reliance on these forward looking statements, which arebased on current view of management on future events.

We expressly disclaim any obligation or undertaking to release publicly any update ofor revision to any forward-looking statements contained herein to reflect any changein our expectations with regards hereto or any change in events, conditions orcircumstances on which any such statements is based.

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THANK YOU