PT WASKITA BETON PRECAST Tbk

Oktober 2016

Company Update

Company Profile

3

Vision and Mission

Vision: To be a leading company in Indonesia in precast, ready mix and quarry

manufacturing, construction services and precast concrete.

Mission:

1. To create products which continuously satisfy our customers requirements as well as

to perform product development innovation and to obtain acknowledgment from our

customers.

2. To build a skilled and expert human resources, especially in precast, ready mix,

quarry, construction and precast concrete.

3. To establish a mutually beneficial relationship with all parties which contribute to

company’s progress.

4. To utilize information technology in achieving competitiveness.

4

Key Milestones

2012 2013 2014 2015 Juni 2016

50

0

1,5

00

2

,50

0

800,000 tons/year

616,000

tons/year

Precast Division was established on

20 September 2012

Precast Division started

its operational activity

PT Waskita Beton Precast was

established as a subsidiary of PT

Waskita Karya (Persero) Tbk on 7

October 2016

Benoa Toll

Road

Kapasitas Produksi

(ton/year)

Solo – Kertosono

Toll Road

Indonesia’s biggest precast and

readymix company

Becakayu and

Pejagan – Pemalang

toll road

Revenue of Rp 2,6

Triliun

Revenue of Rp 1

Triliun*)

1.8 mn

tons/year

*) Notes: Pendapatan 2014 merupakan Konsolidasi antara Divisi Precast dan WSBP

Revenue Rp 1,9 Triliun

As per June 2016

2.3 mn

tons/year

Cimanggis Cibitung

Toll Road IPO

5,16 T

September 2016

Business and Strategy

PRECAST READYMIX

Waskita Beton Precast produces products which are

suitable for customers needs:

GIRDER

BOX GIRDER

PIER HEAD

SPUN PILE

SQUARE PILE

Produces ready mix from K100 to K700 concrete

quality.

6

Business Line

CCSP FCSP U DITCH SLAB L & U – GUTTER

7

Precast Product Line-Up

Products in Development

ELECTRIC POLE

Existing Products

SLEEPER SPRIG WP RC PIPE

In Development

Process

L GUTTER U DITCH CCSP U GUTTER DIAFRAGMA

WALL FCSP

BOX GIRDER PCI GIRDER

PCU GIRDER

PCT GIRDER SPUN PILE 60cm SQUARE PILE

RC PLATE BARRIER HALF SLAB FULL SLAB VOIDED SLAB

SPUN PILE 1,2m

FACADE

In Development

Process

8

Project Summary

WSBP has been trusted to participate in strategic projects with sizeable amounts in Indonesia

Tanjung Benoa Toll

Road

2013

Gempol Pasuruan Toll

Road

2013

Cikopo Palimanan

Toll Road

2013

Becakayu Toll Road

2014

Pejagan Pemalang

Toll Road

2014

Adam Malik Overpass

2015

Solo Kertosono Toll

Road

2015

Palembang LRT

2016

9

Business Strategies

Large scale intra-group projects

would offer a “captive market”

advantage to WSBP

Having of high economy of scale to

execute new external projects

High value and large variety of

products

Obtaining toll road contracts directly

from owner

Reducing COGS by operating

efficiently

Expanding our sales coverage in

order to enlarge our market share

Fully supporting business

development projects in our pipeline

Improving

a stable profitability

Upgrading our production

capacity in strategic locations

3

Increasing number of projects

handled by WSBP

1 2

Production location development Our Clients

Waskita Group Private and

Government

By having a focused long term plan and supported by strategic portfolio projects, WSBP is estimated to contribute to

some Waskita’s rapid growth business line

Captive market from Waskita’s internal group synergy

10

1

Year 2014 2015 2016F 2017F 2018F

Contract Value (IDR) 3,340 billion 2,222 billion 7,455 bn (9M16) POTENTIALS POTENTIALS

Projects

Becakayu (SK 1-2) Pejagan Pemalang

(Sk 3)

Pejagan Pemalang

(Sk 4) Legundi - Bunder Becakayu (Sk 3-4)

Pejagan Pemalang

(Sk 1-2) Kuala Tanjung Port

Cimanggis Cibitung

Paket 2

Kayu Agung-

Palembang - Betung Penajam

Depok - Antasari

Tollroad MKTT Pemalang Batang Pasuruan - Probolinggo Cibitung Cilincing

Solo - Ngawi (Sk 1-2) Batang Semarang Probolinggo -

Banyuwangi

Ngawi Kertosono Bogor Ciawi 2 - 4 Cinere -Serpong

Cimanggis Cibitung

Paket 1 LRT – Palembang

Tol Tebing Tinggi –

Rantau Prapat

Tol Terbanggi Besar –

Kayu Agung

Tol Boyolali - Salatiga

Tol Jakarta – Cikampek

Elevated

Tol Terbanggi Besar -

Mesuji

Production Capacity and Marketing to support growth

11

2

Cibitung

(350,000 ton)

Sadang

(375,000 ton)

Sidoarjo

(325,000 ton)

Palembang

(100,000 ton)

Karawang

(400,000 ton)

Kalijati

(250,000 ton)

Subang

(300,000 ton)

Bojanegara

(200,000 ton)

Precast Plants

800.000

1.800.000

2.300.000

2.650.000

-

500.000

1.000.000

1.500.000

2.000.000

2.500.000

3.000.000

2014 2015 8M 2016 FY 2016

Production Capacity (ton)

No. Regional Marketing Office

1 Medan, mencakup area pemasaran Sumatra Bagian

Utara (Aceh, Medan, Riau, Kepri, Padang)

2

Palembang, mencakup area pemasaran Sumatera

Bagian Selatan (Jambi, Palembang, Bengkulu,

Lampung)

3 Jakarta – Kantor Pusat dan mencakup area

pemasaran Jakarta, Jawa Barat, dan Banten

4 Yogjakarta, mencakup area pemasaran Jawa

Tengah, Yogjakarta dan Kalimantan

5 Surabaya, mencakup area pemasaran Jawa Timur,

Bali, Nusa Tenggara dan Indonesia Timur

Skilled and expert management and labor with comprehensive experience in

related industry

12

3

Level of education Numbers of

employee Percentage

Bachelor &

Postgraduate

degree 235 23%

Diploma 76 16%

High school level 490 61%

Total 801 100%

Employee Composition based on

education

Board of Commissioners

The composition of the management, employees, and competent human resources program has formed

a reliable and professional team in completion of the projects

1) Titled Education Program

2) Skill and Expertise Certification Program

3) Technic and Non-Technic Training Program

4) Management Trainee Program

5) Merit System Program

6) Leadership Development Program

Education implementation and

competitive Human Resources

development programs

Board of Directors

Agus Sugiono Commissioner

28 years in Group

Waskita

• Commissioner WSBP since 2014 and Director of WSKT since

2013

• Previous : Head of Production Division WSKT (2010-2013)

• President Commissioner WSBP since 2014 and Director of

WSKT since 2011

• Previous: Finance and Risk Management Director PT

Perusahaan Pengelola Aset (2009-2011)

Tunggul Rajagukguk President Commissioner

6 years in Group Waskita

Deddy J Sitorus Independent

Commissioner

• Independent Commissioner WSBP since 2014

• Previous : South East Asia Researcher – Resource Person IHS

(2013 - now)

Suhendro Bakri Independent

Commissioner

• Independent Commissioner WSBP since 2016

• Previous : Independent Commissioner PT Timah (Persero) Tbk

(2011-2016)

• President Director WSBP since 2016

• Previous : Technical & Operation Director WSBP (2014-2016)

Jarot Subana President Director

24 years in Group Waskita

Anton Y Nugroho Development & HR Director

23 years in Group Waskita

Agus Wantoro Technical & Operation

Director

22 years in Group Waskita

• Director WSBP since 2016

• Previous : Deputy Head of East Regional Division WSKT (2015-

2016)

• Director WSBP since 2015

• Previous : Financial & HR Director WSBP (2015 – June 2016),

Corporate Secretary WSKT (2014-2015)

MC Budi Setyono

Finance Director

• Independent Director WSBP since June 2016

• Previous : Director PT Pefindo Biro Kredit (February 2016 – June

2016), PT Perusahaan Pengelola Aset (PPA), assigned to PT

Karabha Digdaya (2009 – February 2016)

Financial & Operational

14

New Contract Achievement

Per September 2016, kontrak baru yang dimenangkan oleh WSBP adalah sebesar 62,6% dari total

lelang diikuti sebesar 11,93 Triliun

2.982

5.804 5.742

11.930

703

4.099

2.655

7,455 23,6%

70,6%

46,2%

62,6%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

70,0%

80,0%

-

2.000

4.000

6.000

8.000

10.000

12.000

14.000

2013A 2014A 2015A 9M 2016

IDR

Bio

Tenders Submitted Tenders Obtained

15

New Contract Achievement

558 329 557 495

355 275

3046

1971

6622 4099

2655

7454

0

1000

2000

3000

4000

5000

6000

7000

8000

2014 2015 3Q16

New Contract Achievement (Rp Bn)

Business Development (Toll) Internal

External Total New Contract

No. Projects Value (Rp Mn)

1 Cimanggis - Cibitung Toll Road (Section 2) - Readymix & Precast 2,230,241

2 Batang - Semarang Toll Road - Readymix & Precast 1,509,763

3 PCI Girder - LRT Palembang 596,700

4 Pemalang - Batang Toll Road ( Section 1-3) - Readymix & Precast 481,162

5 Pasuruan - Probollinggo Toll Road - Readymix 379,762

6 Pejagan - Pemalang Toll Road (Section 4) - Readymix & Precast 368,054

7 Readymix - LRT Palembang 326,134

8 Bogor Ciawi Sukabumi Section 2 Toll Road - Readymix & Precast 293,715

9 Bogor Ciawi Sukabumi Section 3 Toll Road - Readymix & Precast 267,778

10 Bogor Ciawi Sukabumi Section 4 Toll Road - Readymix & Precast 216,093

11 River & Sewer Normalisation - CCSP 157,840

12 Giant Sea Wall - Spun Pile 120,643

13 Manado - Bitung Toll Road - PCI Girder 79,496

• Carry Over: Rp 3.2 tn • New Contract: Rp 7.4 tn • Order Book as per 9M2016: Rp 10.6 tn • Turnkey proportion (New Contract): 44% • Internal vs Eksternal (New Contract): 90% vs 10%

4099

5870

10669

0

2000

4000

6000

8000

10000

12000

2014 2015 3Q2016

Orderbook (Rp Mn)

16

Production Performance

800.000

1.800.000

2.300.000

58% 64%

70%

40%

45%

50%

55%

60%

65%

70%

75%

80%

2014 2015 8M 2016

-

500.000

1.000.000

1.500.000

2.000.000

2.500.000

Capacity and Utilities

463,200

1,160,000 1,083,732

2014 2015 3Q 2016

-

200.000

400.000

600.000

800.000

1.000.000

1.200.000

1.400.000

Volume Produksi Precast

82% 82% 80%

18% 18% 20%

0%

20%

40%

60%

80%

100%

120%

2014 2015 3Q 2016

Sales Mix-Product Readymix Precast

642

2643 2512

64,3

211,8 553,899

642

2644,32 3066,477

-300

200

700

1200

1700

2200

2700

3200

0

500

1000

1500

2000

2500

3000

3500

2014 2015 3Q 2016

Sales Mix - Business Segment Eksternal Internal Total sales

17

Balance Sheet Position

*) no loans

1.202,0

4.332,0

13.664,8

2014A 2015A 3Q 2016

Total Asset

Total Assets

761,04

3.082,31

2014A 2015A 3Q 2016

Interest Bearing Debt

InterestBearingDebt

702,10

1.330,80

7.256,2

2014A 2015A 3Q 2016

Total Equity

Total Equity

18

(IDR million)

Earnings Performance

1.024,6

2.644,3

3.066,5

-

500,0

1.000,0

1.500,0

2.000,0

2.500,0

3.000,0

3.500,0

4.000,0

2014A 2015A 3Q 2016

Revenue (M)

160,8

440,2

756

-

100,0

200,0

300,0

400,0

500,0

600,0

700,0

800,0

900,0

1.000,0

2014A 2015A 3Q 2016

EBITDA (Rp M)

838,1

2.141,7 2.328,1

18,20%

15,86%

24,08%

0,00%

5,00%

10,00%

15,00%

20,00%

25,00%

30,00%

-

500,0

1.000,0

1.500,0

2.000,0

2.500,0

2014A 2015A 3Q 2016

COGS (Rp M)

COGS Gross Margin

149,3

334,4

392,0 15%

13% 13%

11,50%

12,00%

12,50%

13,00%

13,50%

14,00%

14,50%

15,00%

-

50,0

100,0

150,0

200,0

250,0

300,0

350,0

400,0

450,0

2014A 2015A 3Q 2016

Net Income (Rp M)

Net Profit Net Margin

19

Financial Ratio

*) no loans

21,26%

25,13%

15,00%

5%

10%

15%

20%

25%

30%

2014A 2015A 3Q 2016

Return on Equity

1,96

1,52

1,86

1,00

1,20

1,40

1,60

1,80

2,00

2,20

2014A 2015A 3Q 2016

Current Ratio

12,42%

7,72%

2,87%

0,00%

2,00%

4,00%

6,00%

8,00%

10,00%

12,00%

14,00%

2014A 2015A 3Q 2016

Return on Assets

-

0,57

0,42

-

0,10

0,20

0,30

0,40

0,50

0,60

2014A 2015A 3Q2016

Debt To Equity Ratio

Disclaimer This material is for information only, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The information herein has been obtained from sources believed to be reliable, but we do not warrant that it is accurate or complete, and it should not be relied upon as such. Opinion expressed is our current opinion as of the date appearing on this material only, and subject to change without notice. It is intended for the use by recipient only and may not be reproduced or copied/photocopied or duplicated or made available in any form, by any means, or redistributed to others without written permission of PT Waskita Beton Precast.

Thank You

Head Office: Gedung Teraskita Jakarta, 3 & 3A Floor Jl. MT. Haryono Kav. No. 10A Cawang, Jakarta 13340 Ph. (+6221) 22892999 website: www.waskitaprecast.co.id

Appendix

PLANT CIBITUNG

Capacity

350.000 tonnes/year

Jl. Imam Bonjol No.52,

Desa Kalijaya, Cikarang

Barat, Bekasi 17530

PLANT SADANG

Capacity

375.000 tonnes/year

Jl. Raya Sadang,

Subang, Purwakarta,

Jawa Barat

PLANT SIDOARJO

Capacity

325.000 tonnes/year

Jl. Raya Prambon, Ds.

Kedungwonokerto, Kec.

Prambon, Kab. Sidoarjo

PLANT KARAWANG

Capacity

400.000 tonnes/year

Jl. Raya Kosambi Krajan

II, Desa Curug, Klari,

Karawang, Jawa Barat

22

Precast Plant

PLANT SUBANG

Capacity

300.000 tonnes/year

Jl. Raya Suka Mulya,

Purwadadi, Subang,

Jawa Barat

PLANT

BOJANEGARA

Capacity

200.000 tonnes/year

Raya Bojonegara-Salira,

Kp. Solor lor 18/8

Margagiri, Kec.

Bojonegara, Serang,

Banten

PLANT PALEMBANG

Capacity

100.000 tonnes/year

Jl. Soekarno Hatta No.

98, Kel. Palang Kelapa,

Kec. Alang-alang Lebar,

Kota Palembang

PLANT KALIJATI

Capacity

250.000 tonnes/year

Jl. Raya Subang KM.

127, Subang, Jawa

Barat

23

Precast Plant

24

Capital Expenditure

Capital Expenditure

(in IDR billion) 2016F 2017F 2018F Total

Precast 715 1.174 700 2.589

Readymix 140 67 197 404

Quarry 214 500 - 714

Truk Mixer 47 256 - 303

Total 1.116 1.997 897 4.010

-

500

1.000

1.500

2.000

2.500

2016F 2017F 2018F

(in

ID

R b

illio

n)

WSBP’s Plan in Capital Expenditure

Truk mixer Quarry Readymix Precast

25

Company’s Financial Report

26

Company’s Financial Report

27

Company’s Financial Report

Disclaimer This material is for information only, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The information herein has been obtained from sources believed to be reliable, but we do not warrant that it is accurate or complete, and it should not be relied upon as such. Opinion expressed is our current opinion as of the date appearing on this material only, and subject to change without notice. It is intended for the use by recipient only and may not be reproduced or copied/photocopied or duplicated or made available in any form, by any means, or redistributed to others without written permission of PT Waskita Beton Precast.

Thank You

Head Office: Gedung Teraskita Jakarta, 3 & 3A Floor Jl. MT. Haryono Kav. No. 10A Cawang, Jakarta 13340 Ph. (+6221) 22892999 website: www.waskitaprecast.co.id