PT.

CENTRATAMA TELEKOMUNIKASI INDONESIA, TBK

Company Presentation
April 2019 (1Q19 Update)
DISCLAIMER
These materials and information have been prepared by PT Centratama Telekomunikasi Indonesia, Tbk. (the “Company”) “as is” and without warranties of any kind and have not
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These materials contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the
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performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. The
Company has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances.

These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation to buy or subscribe for any securities of the Company in
any jurisdiction, nor should these materials or any part of them form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision
whatsoever.

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 2

GENERAL OVERVIEW
Group Structure Brief Profile

PT. Centratama Telekomunikasi

• PT. Centratama Telekomunikasi, Tbk, and its
Indonesia Tbk subsidiaries, (“the Group”, “Company”) is an
independent telecommunication infrastructure
99.99% 99.99% company, providing integrated services for tower
PT. Centratama and in-building DAS1 as well as internet
PT. Network Quality
Menara Indonesia Indonesia • The Company managed 1,801 towers with 1.43x
99.99% tenancy ratio and 839 in-building DAS sites with
1.83x tenancy ratio as of March 2019
PT. Mac Sarana Djaya
• During 1Q19, the Company booked Rp 198.4B
99.99% revenue, Rp 149.4B EBITDA (75.3% EBITDA margin),
PT. Fastel Sarana and Rp 8.7B net profit
Indonesia

Revenue by Business Segments Key Milestones

• Acquired PT. Centratama Menara Indonesia, the
Tower operating company for telecommunication tower
Lease business, in 2013
44%
• Acquired PT. Network Quality Indonesia (“NQI”)
Internet
and its subsidiaries in 2017:
2%
o PT. Mac Sarana Djaya - the in-building DAS
In-building
business operating company
DAS1 Lease
54% o PT. Fastel Sarana Indonesia - the internet
services provider and other value added
Note: 1 Distributed Antenna System
businesses operating company
PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 3
OUR CORE STRENGTHS

An integrated
telco
infrastructure
company

Untapped growth
potential from
vast range of new
Fastest growing
tower company in
50%
10101011011010101011
0110101000111101010
1101010010101001001
product offerings
the market CAGR in # of
Digital
Signage
0101010101011000101
Tower Tenants
0101010111000111011
01001010101000100
0100100010100000

The largest
independent in-
Robust balance
building DAS
sheet position
provider in
Indonesia
1

2.2x Proven execution

track record with
national scale
footprints
c. 60%
Independent in-building
Net Debt to DAS Market share
LQA EBITDA
(1 Management estimate)

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 4

Section 1
Industry Overview

5
DEMAND FOR MOBILE NETWORK INFRASTRUCTURES
Growth in the mobile data consumption is expected to persist… …yet the network infrastructures is still relatively less developed

Indonesia’s Annual Mobile Traffic Number of Towers

in Exabytes (EB) /10,000 persons, 3Q18
28.3

Average: 8.1 Towers

4.4
3.4 3.6 5.9 6.1 6.1 7.1 7.6 9.3 14.3

2017 2022F India IndonesiaS.Korea Australia USA MalaysiaThailand Vietnam China

Source: Tower Exchange, EIU, DBS, in-house calculation & estimates

Average Mobile Connection Traffic 4G Adoption (2017)

in Gigabytes (GB)/month % of Total Connections

5.9

1.1
10% 21% 26% 47% 71% 75% 82%

2017 2022F Philippines India Indonesia Malaysia China Japan S. Korea

Source: Cisco VNI Source: GSM Association (GSMA)

Surging data usage to drive demand for quality telco infrastructure

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 6
INTRODUCTION TO IN-BUILDING DISTRIBUTED ANTENNA SYSTEM (DAS)
What is In-building DAS? Typical Business Model

Site Acquisition – MAC:

▪ Pays upfront lease
Repeater Site ▪ Secures long term exclusivity
Antenna Pole
Acquisition ▪ Exclusivity over vast scope of
services related to
Indoor telecommunication and media
Antennas

Coaxial
Cables

MAC provides:
▪ Design
DAS
▪ Equipment sourcing
Installation
▪ Project management expertise
▪ Site maintenance
Operator
BTS

DAS Infrastructure Rental :

• Outdoor towers cellular signal have limited indoor Tenant ▪ Secures long term revenue with
coverage Placement operators
• DAS “extends” the telco coverage into buildings ▪ Fixed rent bases
• Perfect solution for urban area coverage with dense
high rise building population

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 7

IN-BUILDING DAS GROWTH DRIVERS
Network coverage remains the most important factor to … especially given that 70%-90% of voice and data demand is
mobile subscribers in a 2016 survey… generated by mobile subscribers’ indoor usage

Reason of using particular mobile internet operator Voice and Data Demand
% of Usage Indoor
Strong Signal 45%

Affordable Pricing 26%

~90%
~70%
Saving 8%

Plenty of Bonuses 6%
Voice Data
Source: APJII Source: Indonesian Small Cell Industry Alliance

Strong construction pipeline of addressable buildings across Indonesia

Number of Addressable1 Buildings | by year of construction completion

206

289

420 1,332

417

2019F 2020F 2021F 2022F Onwards Total Pipeline

1
Note: Defined as buildings with a minimum 10 storeys or 15,000m2 floor area; Source: BCI Asia

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 8

COMPETITIVE LANDSCAPE: TOWER
Independent Tower Providers (ITPs) MNOs6 & MNOs Affiliated
Number
of Towers
32,1254
17,437 1
#4

15,032 1

8,600 4

6,070 2
c. 5,300 5

3,800 4 4,000 4

1,773 1
1,297 3

Protelindo Tower STP Centratama Bali- Others Telkom, Indosat XL Others

Bersama tower Telkomsel,
Mitratel, PST

Notes: 1 As of end of 4Q18 based on the respective company filing, 2 As of end of 3Q18 based on the respective company filing, 3 As of end of 1Q18 based on the respective company filing, 4 Estimated
tower count based on TowerXchange 2017, 5 Management estimate, 6 Mobile Network Operators

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 9

COMPETITIVE LANDSCAPE: IN-BUILDING DAS

c.70% of Indonesia’s DAS market is owned by MNOs1 MAC dominates the independent in-building DAS market

Estimated c.4,900 in-building DAS installed Estimated c.1,500 independent in-building DAS installed

MAC
Independent DAS c.60%
MNOs
Players
c.70%
c.30% Others
c.40%

Notes: 1 Mobile Network Operators and the affiliated companies; Source: Management estimates of current landscape

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 10

Section 2
Company Overview

11
INTEGRATED AND INDEPENDENT TELECO INFRASTRUCTURE COMPANY
▪ 4th largest1 independent tower 1
DAS
operator in Indonesia (Indoor site)
▪ Owns/operates 1,801 towers
nationwide with 1.43x tenancy ratio
as of March 2019
▪ Stellar growth track record: 50%
tower tenants portfolio CAGR from
Telecommunication
Tower
2013 to March 2019

▪ Largest independent operator of in-

building distributed antenna system
(“DAS”) with c.60% share1
▪ Operates 839 sites across Indonesia
with tenancy ratio of 1.83x as of
March 2019
In-Building DAS
1
Microcell
▪ Product offerings utilizing the group’s (Outdoor Site)
relationships with the building
managements
▪ Internet Service Provider (“ISP”)
license 2 Operators’ BTS
▪ Triple play capability
▪ Serving 1,416 corporate and retail 1 Bundled Indoor and Outdoor

Value Added Services ISP customers as of March 2019 2 BTS Capex sharing for operator

Note: 1 management estimate

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 12

NATIONAL SCALE FOOTPRINTS
Tower Sites by Geographical Location as of March 2019 In-building DAS Sites by Geographical Location as of March 2019

Kalimantan Sulawesi Kalimantan

Sulawesi Bali & Nusa
8.1% 5.7% 3.0%
6.2% Tenggara
Jabodetabek 9.3%
5.4%

Sumatra
29.0%
Sumatra Jabodetabek
10.0% 44.6%
Java (excl.
Java (excl.
Jabodetabek)
Jabodetabek)
45.5%
27.4%
Bali & Nusa
Tenggara
5.8%

Most Interactive The Highest Revenue Growth Best Partner Best TP Non MLA Winner Non MLA TP 2nd Runner Up
(2018) Bali Nusra Region for B2S Tower Kalimantan Region North Sumatra Region on MLA TP Collo
(2016-2017) (2017) (2016) (2016) S. Sumatra (2016)

Proven execution track record with national scale footprints

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 13
SENIOR MANAGEMENT TEAM

Raymond Yan Hartanto Kusmanto Yuana Susatyo

Chief Executive Officer Chief Financial Officer Chief Marketing Officer
14+ years in telecom industry in 25+ years in Finance 20+ years in sales & marketing
Indonesia for various telecoms products

Adi Mulyono Asep Suhendi Michael Loebis

VP, Implementation VP, iVAS VP, Human Capital
13+ years in engineering and 25+ years in Sales & Marketing in 16+ years in HR
execution Telco Industry

Experienced management team

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 14
HISTORICAL OPERATING GROWTH
In-building DAS Installed Antennas, Antenna Lessees, and
Tower Sites, Tenants, and Tenancy Ratio Tenancy Ratio1

1.27x 1.24x 1.32x 1.40x 1.45x 1.38x 1.43x 2.64x 1.82x 1.65x 1.59x 1.63x 1.84x 1.83x

XL-Axis merger
impact
Enhanced site selection framework
Land Grab Period
and elimination of legacy contracts
2,576
2,444

263 261

1,872 233
216
196
173
152
1,134

765 1,773 1,801

586
1,290
136 142 142 143
302 119
810
581 84
473 65
237

2013 2014 2015 2016 2017 2018 1Q19 2013 2014 2015 2016 2017 2018 1Q19
Antenna Installed
Tenancy Ratio, x ### Tenants Sites Tenancy Ratio, x ###
Lessees, ‘000 Antennas, ‘000
Note: 1 Based on NQI’s historical numbers

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 15

ROBUST FINANCIAL PERFORMANCE
Revenue EBITDA
(Rp B) (Rp B)

801
563
708 526
648 467
563

324

194 198 149 149

2015PF1 2016PF1 2017 2018 1Q18 1Q19 2015PF1 2016PF1 2017 2018 1Q18 1Q19
Note: 1 The proforma figures include MAC and Fastel’s historical figures

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 16

Section 3
1Q19 Performance Update

17
1Q19 PERFORMANCE: HIGHLIGHTS
Discontinuation of
the Revenues from
TOWERS Internux & First Media
1,801 sites Revenues, Rp B
2,576 tenants Inux
11.6
(28.3% YoY, 1.43x & FM
Tenancy Ratio) 198.4
P&L 182.0 YoY Revenue Increase
by Customer, Rp B
Rp B YoY 6.5 4.9 4.2 (30.2)
1Q18 1Q19 19.5
Revenue 198.4 2.5%
EBITDA 149.4 0.6%

198.4
193.6
Net Profit 8.7 35.5B
IN-BUILDING
DAS
Net Debt,

1Q18

Telkomsel

XL

Indosat

H3I

Other

1Q19
143k antennas
Rp B
261k lessees
2.2x
(8.0% YoY, 1.83x
Tenancy Ratio) CapEx 671.8
Net Debt to
LQA EBITDA
Payment, Rp B
2,008.5
26.7
1,336.7

73.6
100.3
Debt Cash Net
Debt
1Q19
Fixed Site Lease Total
Assets Prepayment

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 18

1Q19 PERFORMANCE: TENANTS
# of Tower Tenants (% of total) # of In-Building DAS Antenna Lessees ‘000 (% of total)
Tenancy Tenancy
1.49x 1.43x 1.63x 1.84x
Ratio Ratio

2,576
Others 261
Others
0.8%
8.1%
241
14.8%
5.9%
11.5%
2,008
15.0%
Indosat Indosat
15.6% 17.5% 23.0%

9.8% 20.6%

Telkomsel Telkomsel
21.4% 28.5% 21.6%

22.3%

27.7%
H3I H3I

39.7%
34.4% 36.2%

25.5%
XL XL

1Q18 1Q19 1Q18 1Q19

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 19

1Q19 PERFORMANCE: REVENUES
Revenue by Business Line, Rp B (%) Revenue by Customer, Rp B(%)

Other
198.4 198.4
193.6 193.6
Internet & Others 4.7%
2.3% 1.6%

20.4% 13.0%

Indosat
35,4%
44.2%
10.8% 21.2%

11.6%
Tower Telkomsel

30.6%
28.0%

62.3% XL
54.2%

In Building DAS 29.2% 30.6%

H3I

1Q18 1Q19 1Q18 1Q19

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 20

1Q19 PERFORMANCE: FINANCIALS
P&L, in Rp B 1Q18 1Q19 YoY CASFHLOWS, in Rp B 1Q18 1Q19 YoY
Revenue 193.6 198.4 2.5% 1 Cash Provided by Operation 19.4 67.3 247.0%
Cost of Revenue (Ex. D&A) (13.5) (12.9) -4.5% Receipt of Interest 1.6 3.7 130.9%
Gross Profit 180.1 185.5 3.0% Income Tax (2.9) (10.6) 266.1%
% of Revenue 93.0% 93.5% +0.5pps Cashflow from Operations 18.1 60.5 233.5%
Opex (Ex. D&A) (31.6) (36.1) 14.1% Site Lease Prepayment (47.9) (26.7) -44.2%
EBITDA 148.5 149.4 0.6% Acquisition of PP&E (214.4) (73.6) -65.7%
% of Revenue 76.7% 75.3% -1.4pps Other 3.5 (5.1) -247.1%
D&A (135.9) (80.6) -40.7% 2 Cashflow from Investments (258.8) (105.4) -59.3%
EBIT 12.6 68.8 5625.9% Debt Drawdown/(Repayment) 262.7 306.3 16.6%
% of Revenue 6.5% 34.7% +28.2pps Interest Expense (16.0) (43.8) 174.3%
Other Income/(Expense) (10.3) (0.7) -93.1% Casflow from Financing 246.7 262.4 6.4%
Interest Income/(Expense) (28.0) (51.0) 82.4% TOTAL CASHFLOW 6.0 217.5 3511.6%
EBITDA/Interest, x 5.3x 2.9x -44.8%
Pre-Tax Income (25.7) 17.1 +42.8B BALANCE SHEET, in Rp B Mar-18 Mar-19 YoY
% of Revenue -13.3% 8.6% +21.9pps Cash 374.2 671.8 79.5%
Tax (1.1) (8.4) -730.0% PP&E 2,336.3 2,664.7 14.1%
Net Profit (26.8) 8.7 +35.5B Other Assets 1,975.6 2,131.2 7.9%
% of Revenue -13.9% 4.4% +18.2pps Total Asset 4,686.2 5,467.6 16.7%
Debt1 1,065.8 2,008.5 88.4%
Highlights:
Net Debt / (Cash) 691.6 1,336.7 93.3%
1- The recognition of the revenues from Internux (Inux) & First 2
Net Debt to LQA EBITDA, x 1.2x 2.2x 92.0%
Media (FM) were being discontinued during 2H18. If the
1Q18 revenues from Inux and FM are carved out, the 1Q19 Other Liabilities 675.1 421.1 -37.6%
revenue implies 9.0% YoY growth. Total Liabilities 1,741.0 2,429.6 39.6%
2- The company started adopting new fixed assets accounting Total Equity 2,945.2 3,038.0 3.2%
in 2Q18 (30 years useful life for towers and 15 years useful
life for in-building DAS)

Note: 1 Debt figures after adding back the unamortized transaction cost, the Company’s current US$ debt is hedged at the FX rate of Rp 13,510/US$ , 2 Last Quarter Annualized

PT CENTRATAMA TELEKOMUNIKASI INDONESIA TBK Company Presentation | April 2019 21

Thank You
End of Presentation

Contact Us
Investor Relations
PT. Centratama Telekomunikasi Indonesia Tbk
 [email protected]
 +62 21 2952 9404
TCC Batavia Tower One 19th Floor
Jl. KH Mas Mansyur Kav. 126, Jakarta Pusat 10220
22