170609-1Q09

020312R 9M2011

www.bakrieland.com

WHY INVEST IN BAKRIELAND?

If you are a very busy person, read here
EXTERNAL
Healthy Indonesia's GDP growth Favorable supply & demand condition Attractive property price & yield Relatively low mortgage rate Potential of positive regulation change
2012E GDP growth is 6.3%, 3rd highest among G-20 countries Potential demand of house in Indonesia exceeds supply Indonesian property has the lowest price and the highest yield in region Current Central Bank rate is one of the lowest in Indonesia's history Possibility of relaxation of laws governing foreign ownership of property

INTERNAL
Market leader Unique business model Huge land bank Strong shareholder High revenue growth Solid balance sheet
One of the most liquid property stock in IDX The largest Jakarta CBD and Bogor developer Property & property related infrastructure (value creation) More than 14,000 Ha in Jakarta CBD, Bogor, Jonggol and others Bakrie Group & Avenue Capital Group (largest shareholder) The last 5-year revenue CAGR is 34% DER & net gearing --> 56.8% and 43.5% @ 30 September 2011 2011 average daily trading value --> IDR 33 billion or US$ 3.6 million Estimated 2010 NAV by independent valuers -> IDR 341/share

Attractive valuation

TABLE OF CONTENTS
x x x x x x x

Why invest in Indonesian property companies 4 Bakrieland's profile ..... 6 City property projects ...... 11 Landed residential project 17 Hotel and Resort project 25 Infrastructure project . 29 Financial highlight 32 Appendices ..39
The Best Listed Company In Property & Real Estate
At 2008 Bisnis Indonesia Award

The Developer of the Year

At 2010 Indonesia Property and Bank Award

Annual Report Award by Bapepam LK and IDX for Listed Private Non-Finance Company Category

Best GCG most improved category

At 2009 GCG Award by IICD and CIPE

Ranked 1st and 2nd (2008 and 2010)

Trusted Company
In Corporate Governance Perception Index

Best Indonesia Green CSR Award

At 2010 IGW by Bisnis & CSR Magazine

At 2008, 2009 and 2010 CGPI by IICG and SWA

WHY INVEST IN INDONESIAN PROPERTY COMPANIES

Solid economy
10 9 8 7 6 5 4 3 2 1 0
UK US France Turkey Italy Argentina Russia Australia South Africa Saudi Arabia Germany Canada Mexico Korea India Indonesia Japan China Brazil
%

Relatively low interest rate

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12E

Estimated 2012 GDP growth, G-20

Source: IMF, September 2011

Source: Bank Indonesia, www.bi.go.id

Potential demand for houses in Indonesia exceeds supply

Population & population growth
Shortages

238 million people & 1.5%/year = 3.6 million people/year

1.4 million units, annual supply 400,000 units

13.6 million units, annual demand

Source: www.bps.go.id, Marketeers January 2012

Possibility of relaxation of laws governing foreign ownership of property

80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 -

people

Expatriate Growth in Indonesia

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Source: Ministry of Manpower and Transmigration, 2011

FAVORABLE CONDITIONS
Lowest price and highest yield
Apartment Price in Premiere City Center (price per Sq.m.) Hong Kong Singapore Japan India China Thailand Philippines Malaysia Indonesia US$ 0 19,323 16,727 13,855 10,265 6,932 3,300 3,204 2,182 1,781 5,000 10,000 15,000 20,000 25,000

Apartment Rental Yields in Premiere City Centre (%)

Indonesia Philippines Thailand Malaysia Japan Hong Kong Singapore India China 0 2 10.2 8.6 6.5 6.2 4.3 3.2 2.9 2.8 2.7 4 6 8 10 12

Source : Global Property Guide, 2011

BAKRIELANDS PROFILE

CORPORATE STRUCTURE
BAKRIELAND
INTEGRATED PROPERTY COMPANY

P R O P E R T Y

PROPERTY RELATED INFRASTRUCTURE

CITY PROPERTY Revenue : IDR 940 bn (65%)

LANDED RESIDENTIAL Revenue : IDR 268 bn (19%)

HOTEL & RESORT Revenue : IDR 171 bn (12%)

TOLL ROAD Revenue : IDR 71 bn (5%)

WATER TREATMENT & DIST. Revenue : NA

PT. Bakrie Swasakti Utama INVESTMENT Wisma Bakrie 1 Wisma Bakrie 2 Bakrie Tower * Lifestyle Center * Aston Rasuna Residence * Pasar Festival Elite Club Epicentrum

PT. Graha Andrasentra P. INVESTMENT Jungle Water Park Jungle Mall Aston Bogor Hotel & Resort *

PT. Samudra Asia Nasional PT. Bakrie Infrastructure INVESTMENT Pullman Bali Legian Nirwana * PT. Bakrie Toll Road PT. Bali Nirwana Resort INVESTMENT Pan Pacific Nirwana Bali PROJECT Eaton Luxe Nirwana Bali PT. Semesta Marga Raya INVESTMENT Kanci-Pejagan Toll Road PT. Aetra Air Jakarta INVESTMENT WT&D for East side of Jakarta

PROJECT Bogor Nirwana Residence

PT. Dutaperkasa U. PROJECT Rasuna Epicentrum: Grove Condominium Grove Suites Wave Condominum PT. Mutiara Permata Biru PROJECT PT. Bakrie Pangripta Loka PROJECT Sentra Timur Residence PROJECT Sentul Nirwana PROJECT Ubud Nirwana Villas PT. Berkah Puhu Lestari Batam Nirwana Residence PROJECT Lagoon Nirwana Residence PT. Bukit Jonggol Asri PROJECT Ijen Nirwana Residence PT. Krakatau Lampung T. D. INVESTMENT Travellers Krakatoa Nirwana Resort PT. Libratindo Gemilang

PT. Fusion Plus Indonesia INVESTMENT Lido Lakes Resort

* Partly retained Revenue based on 9M2011 results (Unaudited)

BUSINESS MODEL & STRATEGY

BAKRIELAND
INTEGRATED PROPERTY COMPANY

P R O P E R T Y

PROPERTY RELATED INFRASTRUCTURE

New regional development

Better margin and growth Land acquisition acceleration Traffic enhancement A green operation OPTIMAL ECONOMIES OF SCALE

SYNERGY

Land acquisition expert Integrated property expansion Integrated water solution

VALUE CREATION TO STAKEHOLDERS

Focusing on mid-to-mid-up Residential Development in prime city locations Strengthening new project position by leveraging and capitalizing on existing project branding Increasing development pace through strategic alliance (Joint Operation and Joint Venture) Intensifying the use of Strata Title concept Offering high quality products and services On time delivery as planned High yield property investment
8

DEVELOPMENT FOCUS

DEVELOPMENT ACCELERATION

EXCELLENT DEVELOPMENT

BAKRIELANDS STRENGTH
MAR KET
LARGEST Jakarta CBD Developer (1) LARGEST Development Area in Jakarta CBD (2) DIVERSIFIED Portfolio (7)

LEAD ER
LARGEST Land Bank in Jakarta Greater area (4) QUALITY Products (9) One of LARGEST Market cap. of All Property Stocks on IDX (5) GOOD Track record (10)

LARGEST Land Bank in Jakarta CBD (3) DIVERSIFIED Locations (8)

UNIQUE Business model

(6)

FOCUSED Segment (11)

COMPLETE Amenities (12)

STRONG Brand name (13)

EXPERIENCED Management (14)

LIQUID Stock trading (15)

STRONG Revenue growth (16)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

SOLID Balance sheet (17)

LARGE
Recurring income (18)

TRUSTED Company (19)

STRONG Shareholders

(20)

Commands almost 30% of total apartment supply in Jakarta CBD Rasuna Epicentrum (53.5 Ha) awarded as the Largest Superblock in Jakarta CBD by Rekor Bisnis 12.9 Ha of land in Jakarta prime CBD as of 30 Sept 2011 More than 14,000 Ha of land bank in Bogor, Jonggol & Lido One of the largest market cap of all property stocks on the IDX, US$ 524 million @ 30 Dec 2011 Synergies between property and property-related infrastructure House, apartment, office, hotel, retail center, infrastructure Jakarta, Bogor, Bali, Malang, Lampung, Batam and others The 2nd best mid apartment in Jakarta, independent survey by PSIP, 2007 Experience more than 20 years Mid-to-mid-up segment Most complete Superblock in Jakarta at 2008 Indonesia Property & Bank Award Developer of the Year Award, 2010 Indonesia Property & Bank Award Average real estate experience exceeding 12 years One of the most liquid property stocks on the IDX. 2010 avg. daily trading value IDR 33 bn/US$ 3.6 mn The CAGR of revenues in the last 5-year is 34% and will continue to grow strongly DER 56.8% and net gearing 43.5% @ 30 September 2011 Recurring income contribution 35.6% @ 30 September 2011 At 2008, 2009, 2010 Corporate Governance Perception Index by IICG and SWA Bakrie Group and Avenue Capital Group

MAJOR SHAREHOLDERS (>5%)

CGMI 12.16%

DAIWA CAPITAL MKT 5.89%

ASURANSI JIWA SINARMAS 5.02%

PUBLIC 76.93%

CGMI PUBLIC

: Custodian Code of Avenue Luxembourg SARL (Avenue Capital) : Each ownership < 5%

Source : share registrar, 30 December 2011

10

CITY PROPERTY PROJECTS

THE LIFESTYLE CAPITAL OF JAKARTA

11

Jakarta

THE JAKARTA GOLDEN TRIANGLE

CITY PROPERTY DEVELOPMENT
200 180 160 140 120 100 80 60 40 20 0 1950 1965 1980 1995 2010F 2025F
m

Indonesia's urban and rural population

Urban Rural

Grand Hyatt Hotel Shangri-La Hotel

Nikko Hotel

Menteng

Palmerah

Sudirman

Source: United Nations, BPS, CLSA Asia-Pacific Markets, April 2010

Manggarai
Four Seasons Hotel
Australian Embas sy

gan)

Le Meridien Hotel

Kunin aid ( na S

JAKARTA SUPERBLOCKS 1 Jatinegara

Malaysian Embassy

1. Rasuna Epicentrum (53.5 Ha) Owned by Bakrieland 2. SCBD (47.7 Ha) Owned by other 3. Mega Kuningan (44.5 Ha) Owned by other Tebet

Indonesia Stock Exchange

to ro ub S

JW Marriott Hotel

Ritz Carlton Hotel Netherland Embassy Singapore Embassy Grand Melia Hotel

Kebayoran

t to Ga

Rasu

Senayan

Jakarta Golden Triangle

atan

MT Haryono

g Prap Mampan

Pasar Mingg u

12

Gandaria

Kemang

Project

RASUNA EPICENTRUM
CITY PROPERTY DEVELOPMENT
17 thirty-storey condominium towers (4,269 units), fully developed

A. BAKRIE TOWER H E F B. LIFESTYLE CENTER C. PASAR FESTIVAL D. ELITE CLUB EPICENTRUM E. TAMAN RASUNA APARTMENT B K J I G D A F. ASTON RASUNA RESIDENCE G. MEDIA WALK H. THE WAVE L C I. THE GROVE CONDOMINIUM

J. THE GROVE SUITES

MMC Hospital Australian Embassy HR Rasuna Said

K. CONDOMINIUM L. CONDOMINIUM

Sport complex and retail area, fully developed and retained as recurring-income asset

The first and the largest superblock

Development area

53.5 Ha

13

At 2010 Indonesia Property & Bank Award

Project

RASUNA EPICENTRUM LAND STATUS

CITY PROPERTY DEVELOPMENT

0.9 3.0 8.0 3.5

0.5 1.2 0.1 0.7 12.5 7.8 1.6 1.9

(Ha)

Infrastructure & others Public & social facilities Already developed Being developed Estimated land bank Total area

11.8 3.5 8.0 0.9 3.0

+ + +

1.9 1.2 7.8

+ + +

12.5 0.1 0.5

+ +

0.7 1.6

= = = = =

11.8 3.5 22.4 2.9 12.9 53.5

14

THE GROVE CONDOMINIUM

Project

THE GROVE SUITES

THE WAVE CONDOMINIUM

CITY PROPERTY DEVELOPMENT

2 mid-up segment condominium towers with 438 units Average size per unit 2 bedroom 85 sqm Expected to be completed in 2Q12 55% pre sold Construction progress 49%

A five star strata hotel with 151 units Average size per unit 1 bedroom 63 sqm Expected to be completed in 2Q12 64% pre sold Construction progress 68%

9 mid-segment condominium towers with 2,621 units Average size per unit 1 / 2 bedroom 40 / 60 sqm Expected to be completed 1Q12 (2 towers) 57% pre sold (2 towers) Construction progress 81% (2 towers) 1 tower was topped off on 20 Sept 2011

15

BAKRIE TOWER
Investment

EPICENTRUM XXI

LIFESTYLE CENTER

CITY PROPERTY DEVELOPMENT

Jakartas highest strata office tower 47-storey of grade-A office building with 62,235 sqm useable area Operational in May 2010 95% take up rate

A cinema with a unique red carpet concept in an independent building Capacity 300 seats and 500 seats (the largest capacity in Jakarta in term of seat) Equipped with a lounge

Entertainment center and office tower 29,208 sqm useable area Soft opening in March 2010. Tenants farmers market, Starbucks, Flagship Store, Cafe & Restaurants, Banks (BNI, BCA) etc 85% total take up rate (rental occupancy: 85%)

16

LANDED RESIDENTIAL PROJECT

SIMPLY PARADISE INSPIRED BY NATURE

17

JAKARTA

BOGOR NIRWANA RESIDENCE LOCATION

RESIDENTIAL DEVELOPMENT CITY PROPERTY DEVELOPMENT

Jagorawi Toll Road

BOGOR
A

Proposed Bogor Outer Ring Road

Proposed Bogor Inner Ring Road

Proposed Ciawi Sukabumi

Rancamaya

Toll Road

A B

Bogor train station (4 km to BNR) Batu Tulis train station (1 km to BNR)

18

Project

BOGOR NIRWANA RESIDENCE

RESIDENTIAL DEVELOPMENT The largest housing project in Bogor City

A landed residential project that develops more than 1,000 Ha of land in Bogor city, Southern of Jakarta with various types of houses

Supporting facilities: water park and retail area Planned supporting facilities: golf course Since inception, approximately 2,500 units were already sold

19

Asset & Project

BOGOR NIRWANA RESIDENCE

RESIDENTIAL DEVELOPMENT

The Jungle Mall

Orchard Walk

RETAIL SPACE 11,315 sqm leasable area

STRATA RETAIL SPACE

Nirwana Epicentrum

15,735 sqm saleable area

Aston Hotel Bogor

Artist impression

The Jungle

4-STAR STRATA HOTEL 124 units (85 units for sale + 39 units are retained)

EDUTAINMENT WATER PARK 3.5 Ha, 4D cinema, giant aquarium, bird park, dry park & etc

20

Project

SENTUL NIRWANA
RESIDENTIAL DEVELOPMENT

Jakarta

North

SN : Sentul Nirwana 200-600m above sea level BNR: Bogor Nirwana Residence LLR : Lido Lake Resort SC : Sentul City

Jakarta Sentul circuit exit 1

road

33 km

Jakarta Sentul exit 2 Jakarta Bogor exit 3 2 4

37 km 42 km

oraw

i toll

Jag

4 5

5 km (5 minutes) 9 km (9 minutes)

1
Bogor City

1 2 4 2 3
SC

SN
5 3

Toll road

BNR LLR
National park Halimun Salak mountain Puncak

Proposed toll road Main regular road Proposed main regular road

National park Pangrango mountain Sukabumi 0 1 2 4 6 10 km

21

Project

SENTUL NIRWANA
RESIDENTIAL DEVELOPMENT

The largest residential project in Jakarta greater area

An integrated residential project that develops 12,000 Ha of land in Sentul/Jonggol, Southern of Jakarta

Nearby supporting facilities: School, retail area, traditional market, hotel, convention center and etc

Planned supporting facilities: World class theme park, 27 holes golf course, football academy, hotel, retail area

Developed by stages. The first stage will be completed in 2012

Nearby facilities

Bellanova Mall

SICC

Andalucia Islamic C.

Harris Hotel

School
22

Project

SENTUL NIRWANA
RESIDENTIAL DEVELOPMENT
Football academy Golf course Sentul Nirwana Hotel

1. MAIN GATE
4 6 3 2 7

2. HOUSING CLUSTER 3. DOWNTOWN 4. JUNGLELAND 5. PANCAR MOUNT

6. GOLF HOUSING VIEW

9

7. CLUBHOUSE & HOTEL

5 8 10

8. HOT SPRING HOTEL 9. 27 HOLES GOLF COURSE 10. GOLF HOUSING VIEW

23
145/240 125A/180 58/128 51/120

Project

SENTUL NIRWANA
RESIDENTIAL DEVELOPMENT

24

40 Ha theme park, 8 thematic zones, providing 90 rides

HOTEL & RESORT PROJECT

RESORT LIVING STYLE

25

HOTEL
Project

LIFETIME INVESTMENT

PULLMAN BALI LEGIAN NIRWANA

HOTEL & RESORT DEVELOPMENT

The first strata hotel in Kuta-Bali Managed by Accor International 356 five-star hotel units on 2.4 ha land (276 units for sale & 80 units will be retained) More than 95% from 276 units is already sold Operational in February 2011

Seminyak

PULLMAN BALI LEGIAN NIRWANA

KUTA BEACH

Jimbaran
Bali island

HARD ROCK HOTEL - BALI 26

RESORT
Asset

PAN PACIFIC NIRWANA BALI RESORT

HOTEL & RESORT DEVELOPMENT

A 278-room luxury hotel managed by Pan Pacific within Nirwana Bali Resort complex, Balis first fully integrated resort of 100 Ha, located in Tanah Lot, Tabanan, Bali Begins operation in 1997 Nirwana Bali Resort also provides a 18-hole signature golf course designed by Greg Norman and an exclusive residential complex Indonesias Leading Golf Resort from World Travel Awards (2004-2011) and Best Golf Resort and Best Golf Course in Asia from Asian Golf Monthly Awards

TANAH

LOT TEMPLE

Bali island

Nirwana Bali Resort Complex Pan Pacific Nirwana Bali Resort

27

RESORT
Project

LIFETIME INVESTMENT

EATON LUXE NIRWANA BALI

HOTEL & RESORT DEVELOPMENT

A newly launched condominium hotel (condotel) project offers a lucrative investment located in integrated Nirwana Bali Resort complex in Tabanan, Bali 178 rooms and exclusive facilities with 3600 views to 18-hole signature golf course designed by Greg Norman Managed by international luxury hotel operator, Langham Hospitality Group Launched on 4 December 2011 with 13.5% pre sold and the resort is set to open in early 2014

TANAH

LOT TEMPLE

Bali island

Nirwana Bali Resort Complex Eaton Luxe Nirwana Bali

28

INFRASTRUCTURE PROJECT

29

TOLL ROAD PROJECTS

Trans-Asia Highway network links 32 countries by road along 141,000km

INFRASTRUCTURE

PROJECT

Merak

Jakarta Cikampek Palimanan Tangerang Ciawi Cirebon

Land area

225 Ha

Trans Java toll road network

Semarang Surabaya Solo Kertosono Mojokerto Gempol Pasuruan Probolinggo Banyuwangi

Kanci Sukabumi Pemalang Ciranjang Bandung Pejagan Batang

Sections Length (km) Merak-Tangerang 73 Tangerang-Jakarta 28 Jakarta-Cikampek 72 Jakarta-Ciawi 46 Ciawi-Sukabumi 54 Cikampek-Palimanan 116 Palimanan-Kanci 29 Kanci-Pejagan 35 Pejagan-Pemalang 58 Pemalang-Batang 35 Batang-Semarang 75 Semarang-Solo 76 Solo-Kertosono 177 Kertosono-Mojokerto 41 Mojokerto-Surabaya 37 Surabaya-Gempol 40 Gempol-Pasuruan 32 Pasuruan-Probolinggo 45 Probolinggo-Banyuwangi 170

Land acquisition progress

+ 97%

Completed (by other companies) Completed (by Bakrieland) Under Bakrieland assessment Under tender process or owned by others
Java Indonesia Ratio

Land area Population (sq. km.) (mn) 132,186 128 1,890,000 228 7% 56%

Source: http://www.bpjt.net http://www.jasamarga.com Investor Daily, 15 November 2011 detik.com

30

JAVA ISLAND

CIAWI-SUKABUMI TOLL ROAD

West Java

Mid Java

East Java Ciawi-Sukabumi Toll Road

Banten province

Jakarta
Avg daily traffic 342.000

Cikampek
Avg daily traffic 329,000

Bogor

Ciawi
Lido (integrated resort) Avg daily traffic 178.000

Padalarang Cibadak Sukabumi Ciranjang Bandung Cileunyi

Mountain hotel & villas Residential Boarding school Integrated development

Pelabuhanratu
Ocean resort hotel Beach theme park Golf course Family mall Residential

Toll road Proposed toll road Regular road

West Java, population: 41.4 mn, population growth 1.75%/year

Source: http://www.datastatistik-Indonesia.com

31

FINANCIAL HIGHLIGHTS

32

FINANCIAL PERFORMANCE
1,600 1,400 1,200 1,000 800 600 400 200 0 2005 2006 2007 2008 2009 2010

Revenues (IDR billion)

1,368 1,054 1,059

5-year CAGR : 34%

782 393

320

Revenues Gross profit Operating profit EBITDA Net income*

*Income attributable to owners of the parent
700
IDR bn

9M2010 900.5 446.8 137.5 214.4 110.4

9M2011 1,449.7 596.6 202.5 329.9 129.2

% Change 61.0 33.5 47.3 53.9 17.0

600

Quarterly Revenue
500 400

300

200

100

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

33

BALANCE SHEET
IDR billion
As of Cash & cash equivalents Fixed assets Inventories and land banks Other assets Total assets 2007 1,043 701 3,007 957 5,708 2008 740 952 4,373 2,269 8,335 2009 760 4,616 3,671 2,546 11,593 2010 861 5,639 6,313 4,252 17,064
1

9M11 1,128 5,613 6,796 4,115 17,652

Interest bearing liabilities 2 Equity linked bond Other liabilities Non-controlling Interest Equity Total liabilities & Equity
1 2 3 1

298 1,210 67 4,133 5,708

1,121 2,013 694 4,508 8,335

3,062 2,732 1,156 4,643 11,593

3,312 1,055 2,215 2,460 8,022 3 17,064

3,754 1,076 1,789 2,523 8,510 17,652

34
3

Followed new IGAAP effectively January 1, 2011 Non-controlling interest was minority interest account in 2007-2009 Excluding equity linked bond Excluding non-controlling interest

FINANCIAL RATIOS
IDR billion except for ratios, EBITDA/share and EPS

2007 Revenue Gross profit

Gross margin

2008 1,053.8 510.8

48.5%

2009 1,059.0 498.1

47.0%

2010 1,367.6 669.3

48.9%

9M11 1,449.7 596.6

41.2%

782.1 321.1
41.1%

Operating profit
Operating margin

170.5
21.8%

226.0
21.4%

166.8
15.7%

241.7
17.7%

202.5
14.0%

EBITDA
EBITDA margin

190.7
24.4%

266.8
25.3%

257.3
21.7%

425.8
31.1%

329.9
22.8%

Net income
Net margin

134.2
17.2%

272.1
25.8%

132.3
12.5%

178.7
13.1%

129.2
8.9%

ROA ROE Debt to Equity Net Gearing EBITDA/share EPS

1 2 Income attributable to owners of the parents ROA and ROE unannualized

2.4% 3.2% 7.2% -18.0% 9.7 6.8

3.3% 6.0% 24.9% 8.4% 13.4 13.7

1.1% 2.8% 66.0% 49.6% 12.9 6.6

1.0% 2.2% 54.7% 40.7% 13.7 5.7

0.7% 2 1.5% 56.8% 43.5% 8.3 3.2

1. 2. 3.

Marketing sales were not 100% recognized as revenue All assets were recorded at cost, not marked to market Right issue of IDR 3.2 trillion in 2010

35

REVENUE BREAKDOWN AND SALES BACKLOG

HOTEL AND RESORT 12%

TOLL ROAD 5%

Total 9M2011 Revenues Recurring Revenues Non Recurring Revenues

: Rp1,449.7 billion : 35.6% : 64.4%

LANDED RESIDENTIAL 18%

CITY PROPERTY 65%

@ 31 December 2010

Total sales (IDR bn) 1,049 865 N/A

Revenue (IDR bn) 550 835 N/A

Sales backlog (IDR bn) 500 30 419 949

36

HIGH RISE RESIDENTIAL STRATA OFFICE LANDED RESIDENTIAL TOTAL SALES BACKLOG

LAND BANK
30 June 2011 City Property Rasuna Epicentrum Sentra Timur Residence Landed Residential Bogor Nirwana Residence Ijen Nirwana Residence Batam Nirwana Residence Sentul Nirwana Hotel & Resort Travellers Krakatoa Nirwana Resort Lagoon Nirwana Residence Ubud Nirwana Villas Pan Pacific Nirwana Bali Resort Lido Lakes Resort

Location

Land Bank (Ha)

13.1 2.5

Development Area (Ha)

53.5 3.2

CBD Jakarta East Jakarta

Bogor Malang Batam Jonggol

822.9 9.1 5.1 12,406.6

1,002.4 22.4 25.0 12,406.6

Lampung Balikpapan Ubud-Bali Tabanan-Bali Bogor

99.8 2.8 4.2 17.2 935.9

101.4 3.3 4.2 100.3 1,037.0

37

PT . BAKRIELAND DEVELOPMENT TBK

Thank You
INVESTOR RELATIONS Nuzirman Nurdin (Head of Investor Relations) Fajar Triadi (Investor Relations) Iyan Yudistira (Investor Relations) Wisma Bakrie 1, 6th Floor Jl. HR Rasuna Said Kav. B-1 Jakarta 12920 Tel +62 21 525 7835 Fax +62 21 522 5063 investor-relations@bakrieland.com http://www.bakrieland .com
Disclaimer: This presentation is for information purposes only and may contain forward-looking statements that involve risks and uncertainties. Many of which are difficult to predict and are generally beyond the control of the company. Such risks and uncertainties could cause actual results and developments to differ materially from those expressed in or implied in these statements. Considerable care has been taken in preparing information which is contained in this presentation. However, PT Bakrieland Development Tbk is unable to provide any warranty concerning the accuracy or completeness of any information contained herein.

APPENDICES

39

APPENDIX 1, BAKRIELAND

WHY BOGOR, JONGGOL AND LIDO

Due to environment-related reasons, Jakarta will expand mainly to South of Jakarta
W
Top 5 most densely populated cities 1. Hong Kong, China 2. Lagos, Nigeria 3. Dhaka, Bangladesh 4. Jakarta, Indonesia 5. Mumbai, India
Source: "The Top 10 of Everything" by Russell Ash, http://geography.about.com
JAKARTA

Jakarta N

C S

Relatively close to Jakarta Very strategic location, exactly

JONGGOL

after toll exit

BOGOR

LIDO

Jakarta Greater Area

Jagorawi toll road Proposed Ciawi Sukabumi toll road Proposed Bogor outer ring road

40

APPENDIX 1, BAKRIELAND

LIDO LAKES RESORT

105-room 4-star hotel, 18-hole golf course, Total area 1,037 Ha

Jakarta
Jonggol

BNR

LIDO LAKES LIDO LAKES HOTEL

Halimun Salak National Park

LIDO RECREATION CENTER

Lido
Pangrango National Park

JL. RAYA BOGOR SUKABUMI

Sukabumi
Jagorawi toll road Proposed Ciawi Sukabumi toll road Proposed Bogor outer ring road

41

APPENDIX 1, BAKRIELAND

HOW WE CREATE VALUE?

Acquiring sizeable (1) high potential (2) low cost (3) land bank
1. 2. 3. 4. More than 14,000 Ha of land bank in Jakarta CBD and Jakarta greater area Jakarta prime CBD and high growth locations in Jakarta greater area 1:10 land cost to ASP ratio for landed residential projects Toll road and other additional accessibility 5. 6.

Owning Improving accessibilities significantly (4) Providing complete supporting facilities (5) Leveraging with strong brand name (6) Sizeable High quality Attractive valuation land bank
Retail area, educational facilities, offices, hotel and etc Developer of the Year from 2010 Indonesia Property & Bank Award

Casablanca Road

Bogor City SC

Toll road

to J a

kart a

Jakarta CBD - Kuningan

Rasuna Epicentrum

Park Lane Hotel

Jakarta greater area

SN : Sentul Nirwana BNR : Bogor NIRwana Residence LLR : Lido Lakes Resort

SN

Imperium Tower
HR Rasuna Sa id Road

Australian Embassy

MMC Hospital Manhattan Hotel

BNR
National park Halimun Salak mountain

LLR
Puncak

National park Pangrango mountain Sukabumi

42

APPENDIX 1, BAKRIELAND

MILESTONES

February 1998: PT Bakrie Capital Indonesia bought 57.84% stake

November 2005: Avenue Luxembourg Sarl bought 12% stake

February 2008: 1st Bond issue of IDR 500 bn **

June 2009: 1st Sukuk issue of IDR 150 bn

June 1990: Established under the name PT Purilestari Indah P.

May 2004: Acquisition of PT Bakrie Swasakti Utama

May 2007: Avenue Luxembourg Sarl bought 12.7% stake

October 2008: Avenue Luxembourg Sarl bought 15.31% stake

March 2010: Equity linked Bond of US$ 155 mn

1990 1995 1997 1998

2004 2005

2007 2008 2009 2010

October 1995: Initial Public Offering of 110 mn shares

September 1997: 1st Right Issue of 1.05 bn shares at IDR 500

November 2005: 2nd Right Issue of 4.2 bn shares at IDR 150

April 2007: 3rd Right Issue of 14 bn shares at IDR 200

June 2010: 4th Right Issue of 19.96 bn shares at IDR 160

** Series-A, IDR 220 bn, 3 years, 11.9% (fixed) Series-B, IDR 280 bn, 5 years, 12.85% (fixed)

43

APPENDIX 1, BAKRIELAND

DEVELOPMENT TRACK RECORD

PROJECTS
OFFICE BUILDING Bakrie Tower Wisma Bakrie 1 Wisma Bakrie 2 Wisma Bakrie BLD Graha Kapital MIXED USE DEVELOPMENT Taman Rasuna Apartment Lifestyle Center The 18th Residence Elite Club Epicentrum Pasar Festival Nyi Ageng Serang - MPH HOUSE Bogor Nirwana Residence Graha Taman Kebayoran Graha Taman Elang HOTEL & RESORT Pan Pacific Nirwana Bali Resort Travellers Krakatoa Nirwana Resort Aston Bogor Hotel & Resort Intan legian Hotel - Bali Quality Hotel - Yogyakarta Quality Hotel - Jakarta TOLL ROAD Kanci Pejagan

EST. DEV. COST (IDR-bn) (USD-mn) * 900 45 142 7 10 1,500 291 172 24 51 33 736 43 37 254 125 180 39 40 13 2,200 100 23 54 3 4 636 32 19 11 23 15 83 5 17 106 13 20 17 18 6 232

GFA (sqm) 72,984 13,260 21,347 3,264 3,411 322,861 31,850 48,386 5,215 28,412 18,000 296,922 32,143 22,852 48,872 8,364 23,624 7,912 13,844 2,100 N/A

LAND (HA) 1.0 0.4 0.4 0.2 0.3 5.6 0.9 0.5 2.3 7.2 1.6 174.4 13.8 13.1 100.3 101.4 3.9 2.4 1.7 0.6 225

84

85 TO 92

93

CONSTRUCTION PERIOD 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10

TOTAL

6,842

1,437

1,025,623

657

* US$ at the time of development Between 1999-2004, many companies in Indonesia were busy to do debt restructures as an impact of the Asian financial crisis in 1998

44

APPENDIX 1, BAKRIELAND

GOOD CORPORATE GOVERNANCE

As a public company, Bakrieland is aware the importance of Good Corporate Governance in frame of increasing performance and accountability of Bakrieland to the public. In assuring these, Bakrieland already has the followings: 1. Independent commissioner 2. Audit committee 3. Corporate Governance Regulatory Committee 4. Investment committee 5. Remuneration and nomination committee 6. Risk monitoring committee 7. Internal audit 8. Investor relations division
Annual Report Award by Bapepam LK and IDX for Listed Private Non-Finance Company Category

2009 GCG Award for the Best GCG Most Improved Category By IICD & CIPE

Ranked 1st and 2nd (2008 and 2010)

Trusted Company at 2009 Corporate Governance Perception Index By IICG and SWA in 2010

Top 3 in 2008 Indonesian Financial Reporting Award for Real Estate Company Category By Bapepam-LK and University of Indonesia 45

APPENDIX 1, BAKRIELAND

BAKRIELAND GOES GREEN

Integrated Corporate Social Responsibility
Bakrieland Goes Green is a CSR program integrating economic factor (profit), social care (people) and active participation in preserving the environment (planet) in business activities in order to create sustainable stakeholder development and environmental conservation.
GREEN ARCHITECTURE GREEN OPERATION GREEN ATTITUDE

Building & Construction Design

Waste Disposal Program

Community Development Program

Green Area Design

Energy Efficiency Program

Internal Program

External Program

Waste-water and Reuse Program

Corporate Cultural Program

Social Program

Economic Program

Education Program

Human Resources Program

Health

UKM Program

Best Indonesia Green CSR Award

At 2010 IGW by Bisnis & CSR Magazine The Best 3 at 2009 Indonesia Property & Bank Award for Green Nature and Green Development Category By Property & Bank Magazine, 2009

Program

Culture Program

Infrastructure Program

46

APPENDIX 1, BAKRIELAND BAKRIELANDS RECURRING INCOME ASSETS

Bakrie Tower * Wisma Bakrie 2 Wisma Bakrie 1 Aston Rasuna Residence *

Lifestyle Center *

Pasar Festival

Jungle Edutainment Park

Jungle Mall

Aston Hotel Bogor *

Pullman Bali Legian Nirwana *

Pan Pacific Nirwana Bali Resort

Kanci-Pejagan Toll Road

* Partly retained

47

APPENDIX 1, BAKRIELAND

BAKRIELANDS GROWTH ENGINES

Superblock development in Jakarta CBD with focus on vertical residential projects supported by rapid urbanization

Township development in Bogor, one of fastest growing cities in Indonesia

Superblock development with strategic location in East Jakarta

Toll road projects with increasing traffic and tariff supported by Automatic Tariff Adjustment

New high-margin property development near owned toll road projects

Toll

road

traffic

enhancement

through

property

development near the toll road projects

Hotel resort development mostly in Bali, the worlds famous tourist destination
48

APPENDIX 1, BAKRIELAND

BAKRIELANDS PRODUCTS & SERVICES

1 1 1 1 1

1 8

1 2 9 8 7

49

APPENDIX 2, MACRO & INDUSTRY

THE MAP OF INDONESIA

INDONESIA Area: 1,890,000 sq. km. Population: 238 mn Population growth: 1.5% per year Density: 129 / sq. km.

GDP: US$ 819bn (2011)

INDIA

GDP per capita: US$ 3,543 (2011)

THAILAND VIETNAM

PHILIPPINES

GDP growth: 6.5% (2011) Interest rate: 5.75% (02/12) Exchange rate: US$ 1 = IDR 9,068 Unemployment rate: 6.8% (2/11) Foreign reserve: US$ 112 bn (1/12)

MALAYSIA

INDONESIA

PAPUA NEW GUINEA

JAKARTA Area : Population : Density : 662 sq. km. 9,588,198 14,440 / sq. km.

BALI 5,637 sq. km. 3,522,375 625 / sq. km. 2.75 mn / yr

Foreign visitor (11) : 2 mn / yr

AUSTRALIA
50

Source : CEIC, www.bi.go.id, www.bps.go.id, Arsiito 2012

APPENDIX 2, MACRO & INDUSTRY

FAVORABLE CONDITIONS

Healthy banking industry

Assets (IDR tn) TPF (IDR tn) NPL (%) CAR (%) LDR (%) 1998 896 754 53.0 (15.7) 72.4 2011 3,742 2,645 2.5 16.6 81.0
120 100
US$ bn

Foreign reserve is trending upward

Indonesia's Foreign Reserve

80 60 40 20 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Source: www.bi.go.id, January 2012

Fitch Ratings upgrade of Indonesia to investment grade BBB- from BB+ reflects strong and resilient economic growth, low and declining public debt ratios, strengthened external liquidity and a prudent overall macro policy framework The approved land acquisition bill allows the boost of infrastructure projects and supporting Indonesias economy growth

Conservative balance sheet

Credit to GDP by country (%)
HK Taiwan Australia China Malaysia Singapore Korea Japan Thailand India Philippines Indonesia
%

Indonesia *Debt to GDP Ratio (%)

100 90 80 70 60 50 40 30 20 10

20

40

60

80

100

120

140

160

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

*Based on Public debt only Source: Bank Indonesia, CEIC, CLSA Asia-Pacific Markets, April 2010, Ministry of Finance

51

APPENDIX 2, MACRO & INDUSTRY

FAVORABLE CONDITIONS
Increasing GDP per capita
3,600 3,200 2,800 2,400 2,000 1,600 1,200 800 400 2006 2007 2008 2009 2010 2011
US$

Unique GDP
GDP breakdown (2011) Household consumption Government consumption GFCF Change in Stocks Statistical Discrepency Net Export GDP 55.6% 8.2% 24.4% 0.9% -0.5% 11.3% 100.0% 1,369.9 202.6 602.1 21.9 -11.5 278.2 2,463.2

5-year CAGR

13.9%

GFCF Gross Fixed Capital Formation, the value of additions to fixed assets purchased by business, government and households less disposals of fixed assets sold off or scrapped

Jakarta 2011 GDRP per capita US$ 11,000 In 2009, 13% of Jakarta population had an income per capita in excess of US$ 10,000 In 2009, around 300,000 Indonesians had savings/time deposits above US$100,000 80% of very rich Indonesians live in Jakarta Source: CEIC, www.bps.go.id, 2009-Kontan Daily, 28 January 2009-SWA, 21 August 2009www.wikipedia.org, www.bi.go.id, World Bank, Fortune Indonesia, BKKBN

Year 2009 2011E

Middle Income Total Population Population (in million) 93 231 134 241

% 40.3% 55.6%

Mortgages have ample room to grow

Mortgage-to-GDP ratio (%)
Denmark UK USA HK Taiwan Singapore Malaysia Korea Thailand China India Indonesia

200

Mortgage Loan (IDR tn)

5-year CAGR
150

23%

100

50

0
0 10 20 30 40 50 60 70 80 90 100

2006

2007

2008

2009

2010

2011

Source: Bank Indonesia, CLSA Asia-Pacific Markets, April 2010

52

BOARD OF COMMISSIONERS

Bambang I. Hendradi President Commissioner

Lukman Purnomosidi

Kanaka Puradiredja

Supartono Commissioner

Armansyah Yamin Commissioner

Independent Commissioner Independent Commissioner

BOARD OF DIRECTORS

Hiramsyah S. Thaib President Director & CEO

A. Amri Aswono Putro Director

Feb Sumandar Director

SENIOR EXECUTIVES

Santoso Budi Corporate Secretary

Nuzirman Nurdin Head of Investor Relations

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