Siloam Hospitals delivered

double digit revenue growth in

3Q18

Q3 2018 Results
 Q3 2018 Results 2

Strong Financial Performance

Revenue EBITDA / EBITDAR

Revenue In IDR Bn EBITDAR & EBITDA In IDR Bn
EBITDAR
GOR EBITDA
NOR # %△ 913
## %△ 884
13% 9%
5,848
809 813
13%
5,168 21% 733
9%
25% 671 674
4,396 17%
4,144 13% 28%
3,992 3,893 574 568
7% 8%
24% 3,719 526 23% 527
3,341 22% 3,309 466
3,042 13% 57%
33% 2,928
23% 56%
2,504 2,472 334
34% 298
1,847

FY-13 FY-14 FY-15 FY-16 FY-17 Q3-17 Q3-18 FY-13 FY-14 FY-15 FY-16 FY-17 Q3-17 Q3-18
Reclassified

Siloam is the clear leader and fastest growing private hospital group in Indonesia serving all segments of the population

Notes:
GOR refers to revenues relating to medical support services, professional fees and consultation fees, drugs and medical supplies, room serv ice, administration, operating theatre, delivery rooms, registration fees and other services. NOR is
calculated by deducting service costs (doctor consultation and professional fees) from GOR.
EBITDA refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes and other expense and/or income (consisting primarily of financing income and others-net).
 Q3 2018 Results 3

Gross Operating Revenue in Q3 2018 expanded by 11% Y-o-Y while EBITDA advanced 16%

6,000 1,800
11% 12% 13% 12% 16%
Q3 Y-o-Y △ 8% 10% 15% 12%

5,000

4,396 1,323
1,350

4,000
'17 '18 1,087 1,102
1,548 Q4 458
3,309 Q3
Q2
IDR bn

IDR bn
Q1
3,000 900 369 376
1,179

1,401 1,987 422

2,000
356 369
1,045 721
450

1,000 622 884

1,448 344 568 442 168
1,086 362 357
254 237 58
644 149 56
286 182 55
0 0
GOR NOR Gross Profit EBITDAR EBITDA Service Costs Material Costs Operating Costs Rent

• Gross Operating Revenue (GOR) for Q3-2018 of • Professional Service Costs in Q3 rose by 8% from the
IDR1.55 trillion, up 11% previous year.
• Net Operating Revenue after Service Costs of • Material and Operating Costs were 10% and 15%
IDR1.18 trillion. higher respectively year-on-year.
• Gross profit of IDR721 billion – up 13% from the • Rental charges rose by 12% from Q3-2017.
previous year - resulting in a gross profit margin
of 46.6%.
Notes:
GOR refers to revenues relating to medical support services, professional fees and consultation fees, drugs and medical supplies, room serv ice, administration, operating theatre, delivery rooms, registration fees and other services. NOR is
calculated by deducting service costs (doctor consultation and professional fees) from GOR.
EBITDA refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes and other expense and/or income (consisting primarily of financing income and others-net).
 Q3 2018 Results 4

Comparable Hospital Margin with Peers

SILO Margin vs. Peers

% to NOR 35.6%

29.7%
27.4%
22.4% 21.3% 20.8%

EBITDAR EBITDA

(31.9%)

(44.5%)

SH New SH Mature Hospital A Hospital B Hospital C Hospital D

Siloam Mature Hospitals EBITDAR Margins are comparable to Peers EBITDA Margin
Note:
EBITDAR refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes, other expense and/or income (consisting primarily of financing income and others-net) and rental.
EBITDA refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes and other expense and/or income (consisting primarily of financing income and others-net).
 Q3 2018 Results 5

Treatment Volumes improved across all venues, while average unit revenues expanded as well

2,400
5% 8% 8% 9%
2018 Q3
Outpatient 1.00
2017 Q3
Revenue per 0%
2,000
Visit (IDR mn) 1.00
1,775

1,600
Inpatient 5.00
616 Revenue per (2%)
Day (IDR mn) 5.10
in Thousands

1,200

Average Days 3.47

556
800 per Inpatient (4%)
Stay 3.60
525

400 183 56.4%

221 Average
602 (3%)
170 152 Occupany
53
75 58.2%
172 49 74
0 50 72
Oupatient Visits Inpatient Days Inpatient Admits ETC Visits

• Outpatient visits, at 616 thousand in total, were 5% • Average Inpatient Revenue per Day was down slightly at
higher than Q3-2017. Rp5.0mn, even as the average inpatient stay dropped from
3.60 to 3.47 days.
• Inpatient Admissions rose by 8% from Q3-2017 to 53
thousand patients. • Inpatient visits grew 16% and as a result Inpatient Revenue
was 10% higher at Rp914 billion for the quarter.
• Inpatient Days expanded by 8% to 183 thousand.
• Outpatient Revenue per visit was flat at Rp1mn. Outpatient
• Emergency and Trauma Center visits were higher by Revenue in Q3 grew by 13% Y-o-Y to IDR633 billion.
9% from the previous year.
Notes:
*Financials and operational metrics include all hospitals and exclude clinics
 Q3 2018 Results 6

We initiated a rapid expansion stage in 2011 which has resulted in a network capacity of 6,585 beds
GUM
Mature
BPJS SH Bekasi
New Timur
SH Bangka
Owned
Belitung
Hospitals SH
RSUPB SH Jember
Balikpapan
SH Lippo BIMC
SH Jambi Asri Sentosa SH Silampari
Cikarang Nusa Dua
# IPO
1996 2002 2011 2012 2013# 2014 2016* 2017* 2018 *Rights

SH SH SH SH TB SH SH Issue
SH MRCCC SH Medan SH Semarang
Lippo Village Surabaya Palembang Simatupang Samarinda Yogyakarta
SH
SH Cinere SH Bali SH Kupang SH Buton SH Bogor
Kebon Jeruk
SH SH Labuan Hosana
Leased SH Makassar BIMC Kuta
Purwakarta Bajo Medica
Hospitals
SH Manado

RSUS

Our hospital network has a current Capacity of Hospitals Segmentation Definition:

±6,500 beds, with 3,494 currently Operational • Our mature hospitals include all developments completed
BPJS 776 1,539 prior to 2016.
• While 75% of our hospitals are able to service BPJS patients,
Mature East 1,130 1,721 the hospitals we designate “BPJS” see 70% to 80% of patient
volume and over 50% of revenues derived from public-
Mature West 1,137 1,999 insurance payers.
• New hospitals are typically in the early stages of rapid growth.
New 451 1,285
Notes:
*Financials and operational metrics include all hospitals and exclude clinics
 Q3 2018 Results 7

Siloam has 34 cities spanning 22 provinces

Operational Hospitals (34)
Hospital operational in Q3-2018 (1)
Siloam has opened a total of 3 New hospitals in 2018 Future Potential Developments (16)

11
Mature East
10
9 9 9 9 9 9 9 9 9 9 Sumatra: 52.2m Maluku: 1.7m
8 Sulawesi: 19.0m
Papua: 3.6m
9 9 9 9 9 9 9 9 9 9 9
Mature West8 8
Kalimantan: 21.3m
4 BPJS
3
5 5 5 5 5 5 5 5 5 5
4 New Java: 160.3m
1 1
Nusa Tenggara: 9.6m

Bali: 4.2 m
Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18

Our professional staff now comprises 549 GPs , 2,354 FT

and PT Specialists and Dentists as well as 4,177 Nurses
Nurses
Spec ialist (FT)
BPJS 60 100 167 755 Spec ialist (PT)
GPs

Mature East 147 184 691 1,507

Mature West 172 284 672 1,368

New 49 93 284 547

Notes:
*Financials and operational metrics include all hospitals and exclude clinics
 Q3 2018 Results 8

Hospital Outpatient and ETC Activity

Outpatient Visits in Q3-2018 grew by 6% overall to

Emergency & Trauma Center Visits were up 9% in
616k, despite a 9% decline at BPJS hospitals ('000
visits) Q3-2018 to 75k, driven largely by New Hospitals
119
BPJS (9%) 15
131 BPJS 10%
13
223
Mature East 29
209 6% Mature East 5%
28
210
Mature West (2%) 19
214 Mature West (6%)
21
65
New 152% 11
26 New 54%
7

ETC Conversions were up slightly at 41% overall, OPD Conversions was flat at 3.4% overall, with a
while New hospitals performed in line with Mature drop in New hospitals in Q3-2018
Hospitals
55% 3.9%
BPJS (6%) BPJS 6%
58% 3.6%

32% 3.8%
Mature East 2% Mature East 14%
32% 3.3%

40% 3.1%
Mature West 10% Mature West (4%)
36% 3.2%

45% 1.9%
New 28% New (26%)
35% 2.6%

Notes:
*Financials and operational metrics include all hospitals and exclude clinics
 Q3 2018 Results 9

Hospital Inpatient Activity

Inpatient Admissions rose to 53k in Q3-2018.

Average Inpatient Stay was 3.47 days in Q3-2018
Vs 3.6 days in Q3-2017.
13
3.6 BPJS 1%
BPJS 1% 13
3.5
18
3.6 Mature East 18%
Mature East (5%) 15
3.8
15
3.8 Mature West 4%
Mature West (0%) 14
3.9
7
2.9 New 79%
New 0% 4
2.9

Occupancy Rates were down slightly to 56.4% in Utilization rates in Q3-2018 for Cath Labs, MRIs
Q3-2018 Vs 58.2% due to drops in BPJS and and CT Scans reflect the maturity and patient mix
Mature West inpatient days of our regions
63% BPJS 8% 22%
BPJS (4%)
65%
Mature East 21% 32% 60%
61%
Mature East 4%
59%
Mature West 26% 31% 33%
52%
Mature West (5%)
55% New 4% 8%

43%
New 52% Consolidated 19% 28% 35%
28%

Notes:
*Financials and operational metrics include all hospitals and exclude clinics
 Q3 2018 Results 10

Revenue & EBITDA Details

In IDR Bn Q3 ‘18 Q3 ‘17 ∆% 9M18 9M17 ∆%
GOR 1,548 1,391 11% 4,396 3893 13%
Service Cost 369 340 8% 1,087 965 13%
NOR 1,179 1,051 12% 3,309 2,928 13%
% to GOR 76% 76% 75% 75%
Material Cost 458 415 10% 1,322 1,174 13%
Gross Profit 720 635 13% 1,987 1,754 13%
% to GOR 47% 46% 45% 45%
Operating Expenses 376 329 15% 1,102 941 17%
EBITDAR 344 307 12% 884 813 9%
% to GOR 22% 22% 20% 21%
% to NOR 29% 29% 27% 28%
Rental(ii) 58 51 12% 168 129 30%
EBITDA(iii) 237 204 16% 568 526 8%
% to GOR 15% 15% 13% 14%
% to NOR 20% 19% 17% 18%

Notes:
(i) Reclassified, please see Financial Statements note 39.
(ii) Represents rental expenses for the land and buildings, Siloam is leasing from FREIT, PT Lippo Karawaci Tbk and other parties
(iii) EBITDA refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes and other expense and/or income (consisting primarily of financing income and others-net).
(4) Operational metrics will differ slightly on slide 2 as figures on slide two don’t include clinics.
 Q3 2018 Results 11

Balance Sheets
In IDR Bn 9M18 9M17 ∆%

Assets

Cash & Equivalent 358 930 (-62%)

Other Current Assets 1,419 1,241 +14%

Property and Equipment 4,382 4,117 +6%

Other Non-Current Assets 564 416 +36%

Total Assets 7,701 7,596 1%

Liabilities & Equity

Debt 174 176 0%

Liabilities 1,390 1,283 +8%

Shareholders' Equity 4,770 4,524 +5%

Total Liabilities & Equity 6,094 5,766 +6%

Gearing Ratio 0.04 0.03

 12

Appendices

Comparison Health Statistics 4

Hospitals in Indonesia 4
Indonesia’s Aging Population 4
BPJS Kesehatan Roadmap 5
4
6
4
7
 Q3 2018 Results 13

Mature East Hospitals

Date Bed Operation GPs & Land/Building
Name Place Nurses Centre of Excellence Accreditation
Opened Capacity al Beds Specialists Ownership

SH Kebon Cardiology, Urology,

W. JAKARTA 2002 285 217 216 341
Jeruk Orthopedics, Emergency
JCIA

SH Surabaya E. JAVA 2002 162 160 167 238 Cardiology, Emergency

SH Manado N. SULAWESI 2012 238 177 105 190 Emergency

SH E.
2002 232 165 94 143 Orthopedics, Emergency 79.90%
Balikpapan KALIMANTAN

RS Grha
W. NUSA
Ultima 2017 69 40 45 61 Emergency
TENGGARA
Medika

SH Cardiology, Emergency,
S. SULAWESI 2012 362 215 132 217
Makassar Endocrinology

SH E.
2016 34 10 24 19 Emergency
Samarinda KALIMANTAN
 Q3 2018 Results 14

Mature West Hospitals

Date Bed Operation GPs & Land/Building
Name Province Nurses Centre of Excellence Accreditation
Opened Capacity al Beds Specialists Ownership

MRCC
Siloam S. JAKARTA 2011 334 176 183 235 Cancer, Liver, Emergency
Semanggi

SH Cinere DEPOK 2012 50 33 22 40 Cardiology 80.00%

SH S. Gastroenterology,
2012 357 150 125 146
Palembang SUMATERA Emergency 70.39%

SH TB Cardiology, Emergency,
S. JAKARTA 2013 269 117 142 109
Simatupang Neuroscience, Oncology

SH Lippo TANGERAN Cardiology, Orthopedics,

1996 308 274 274 365
Village G Neuroscience, Emergency
JCIA

SH Lippo Occupational Health,

BEKASI 2002 164 118 88 148
Cikarang Emergency 79.84%

E.
SH Jambi 2011 119 107 67 122 Emergency 83.00%
SUMATERA

RS Siloam
N.
Dhirga Surya 2014 356 117 113 121 Emergency, Trauma
SUMATERA
Medan
 Q3 2018 Results 15

Mature Distinct Segment Hospitals

Date Bed Operation GPs & Land/Building
Name Place Nurses Centre of Excellence Accreditation
Opened Capacity al Beds Specialists Ownership

SH Denpasar Cardiology, Orthopedics,

BALI 2013 281 124 133 184
(East) Tourists, Emergency
JCIA

SH Asri
S. JAKARTA 2014 42 42 114 82 Urology
(West)

BIMC Kuta
BALI 2013 19 18 43 62 Tourists, Emergency
(East)

BIMC Nusa Cosmetic Surgery,

BALI 2013 39 24 56 46
Dua (East) Emergency

BPJS Hospitals

SH Buton SE. SULAWESI 2016 140 80 35 94 Emergency

SH
W. JAVA 2014 219 212 79 216 Emergency
Purwakarta

E. NUSA
SH Kupang 2014 416 110 64 152 Emergency
TENGGARA

SH Labuan E. NUSA
2016 124 88 23 67 Emergency
Bajo TENGGARA

SGH
TANGERANG 2012 640 300 126 226 Emergency
(RSUS)
 Q3 2018 Results 16

New Hospitals
Date Bed Operation GPs & Land/Building
Name Place Nurses Centre of Excellence Accreditation
Opened Capacity al Beds Specialists Ownership
RS Umum
Putera CIREBON 2017 114 104 51 118 Emergency
Bahagia

SH Bogor W. JAVA 2017 246 60 60 58 Emergency

RS Siloam BANGKA
2017 412 33 42 49 Emergency
Bangka BELITUNG

RS Hosana
BEKASI 2017 101 60 37 65 Emergency
Bekasi

RS Siloam
YOGYAKARTA 2017 149 60 60 53 Emergency
Yogyakarta

Siloam
Medika Blu BEKASI 2017 56 32 33 53 Emergency
Plaza

RS Siloam
S. SUMATERA 2018 175 69 29 45 Emergency
Silampari

SH Jember E. JAVA 2018 323 30 39 45 Opening April 2018

RS Umum
BEKASI 2017 50 50 38 59 Emergency
Sentosa
 Q3 2018 Results 17

Clinics – currently 16 operational located in Bali, Balikpapan, Bekasi, Jakarta and Tangerang

MERTANADI, ROBSON, GRAHA RAYA,

BALI CIKARANG TANGERANG

SILIGITA, BONA INDAH, HARKIT,

BALI JAKARTA TANGERANG

MERUYA, PERMATA,
BALIKPAPAN
JAKARTA TANGERANG

CISOKA, LABUAN
BEKASI
TANGERANG BAJO

CYBERPARK,
CIANJUR
TANGERANG

JABABEKA, GADING
CIKARANG SERPONG
 Q3 2018 Results 18

Comprehensive Licensing Requirements for New Hospitals

Status of Selected Projects for 2018-2019*

In order to be able to fully commission a new hospital, we have to go through a licensing process involving local governments
and provincial health departments. This involves more than 40 licenses and can be summarized into 6 most critical licenses.

Banjarmasi Batu Lippo Bekasi Gunung Semarang Palangka

Status Ambon Jember Kelapa Dua Tegalrejo
n Mall Grand Mall Sahari Hoo Raya

Beds >100 <100 <100 <100 <100 >100 >100 <100 >100 >100

Planned Opening 2019 2018 2019 2019 2019 Apr 2018 2018 2018 2019 2018

Environmental License
(AMDAL) P P P P P P P P P P
Building Permit
(IMB) P P P P P P P P P
Nuisance Permit
(HO) P P P P P P P P
Hospital Building
Permit (IMRS) P P P P P
Certificate of Proper
Building Function (SLF) P P P P P
Operational
License (IO) P P
* As of April
 Q3 2018 Results 19

Corporate Structure

OTHER MAJORITY SHAREHOLDERS LIPPO RELATED COMPANIES PUBLIC < 5%

> 5%
5.32% 63.48% 31.20%

As of 31 Mar 2018
No of Outstanding Shares :
22,771,585,119 Code : LPKR.JK ; LPKR IJ

CVC CAPITAL PARTNERS LIPPO KARAWACI RELATED COMPANIES PUBLIC

22.90% 51.05% 26.05%

As of 31 Sep 2018
No . Of Outstanding Shares : 1,624,765,625
Code : SILO
 Q3 2018 Results 20

Our initial growth strategy relied on leasing hospitals, while we increasingly own new developments

17 of our hospitals are leased from FREIT or

related parties, while 12 are Owned and 5 are 3rd
Par ty leases
BPJS 5

Mature East 2 3 5
Sale and
Leaseback Mature West 2 3 4
of Hospitals
20.34%*
Sublease of New 1 3 6

Hospitals

Our early “asset light” strategy allowed the group to

expand more rapidly without accessing excessive
Sale and financing.
Leaseback
of Hospitals We increasingly intend to retain ownership of newer
developments.
51.05%*
Our management of hospital development and
construction ensures more efficient permitting and a
responsive layout for projected needs.
Hospital selling prices are determined through
In Indonesia Ownership Interest independent valuation, with rental rates determined to
In Singapore Contractual Relationship
generate a long-term stable return over 20 years.
* As of 31 December2017
 Q3 2018 Results 21

Our vision is to provide affordable and accessible healthcare to all socio-economic segments
Continuum of care at primary, secondary, tertiary &
Siloam’s Integrated quaternary levelsCenters of Excellence: Neuroscience, Cardiology,
• Integrated
Healthcare Delivery Model: Cancer, Orthopedic, Urology, Fertility
• Access to Centres of • Hub and Spoke strategy for specialized services via Digital
Excellence through hub & Tele-Medicine
spoke system and Tele- • Pioneering investments in Indonesia’s healthcare sector

medicine – Comprehensive Cancer Centre opened in 2011

• High standards and
accessible medical care
through a strong focus on
clinical governance and
affordable price points
Secondary
• Specialist access for
primary healthcare
demand
• Public-Private-
Partnerships
– Indonesia’s first Gamma Knife installed in 2012
• Best in class and highly accessible healthcare
services platform through:
Tertiary
– Rapid expansion of network across Indonesia
– Attracting and retaining the best doctors with strong
focus on doctors’ welfare (SDPDP)
– Equip hospitals with State-of-the-Art facilities such
as 128 slice CT Scan and 1.5T MRI
• Primary clinics for corporate clients
• Public-Private-Partnership (PPP) model
• RSUS – 1st hospital using public sector model
Primary – Additional demand from BPJS patients
– Gateway to Indonesia’s “Universal Healthcare
Coverage”

Research & • Integrated platform with UPHMS and others

Education • Medical training at RSUS, SHLV, and SHKJ
 Q3 2018 Results 22

Our affiliation with UPH Medical Sciences is key in acquiring, training and retaining professional staff

• Future workforce
• Systems based curriculum converged with PBL
• Best practice replication
• Clinical placement
• Foundation for Innovation Centre of Excellence and
Global Reputation
• Overseas training –Singapore/Australia/USA/China

Clinical

• Best practice Models

• Remote Access Diagnosis (RAD) and Remote Access
Clinical Management (RACM) Research Education
• Telemedicine
• Centres of Clinical Excellence/Accreditation
• Teaching Hospital paradigm

• Alignment – across teaching and service delivery

• Affiliate with agencies such as ACORN/NUS/SGH/UOM
• Leading edge research
 Q3 2018 Results 23

Comparison Health Statistics

Indonesia Vietnam Malaysia Singapore South Korea India China Australia USA UK
Hospital beds per 10,000 pops 9 20 19 20 103 7 38 39 29 29
Physician per10,000 pops 2 12 12 20 21 7 19 33 25 28
Health Profesionals per 10,000
pops 16 24 47 76 79 28 32 157 118 112
Life expectancy at birth (years) 69 76 75 83 82 68 76 83 79 81
IMR per 1,000 live birth 14 11 4 1 2 28 6 2 4 2
MMR per 100,000 live birth 126 54 40 10 11 174 27 6 14 9
% Government Expenditure 38 54 55 42 54 30 56 67 48 83
% Private Expenditure 62 46 45 58 46 70 44 33 52 17
Healthcare Spend as % of GDP 3 7 4 5 7 5 6 9 17 9
Per capita total expenditure on
healthcare (USD) 299 391 1,040 4,047 2,531 267 731 4,357 9,403 3,377

Health Professional per 10,000 pops Total Healthcare Spending as % of GDP

Australia 157.2 USA 17.1
USA 117.8 Australia 9.4
UK 112.4 UK 9.1
South Korea 79.0 South Korea 7.4
Singapore 75.6 Vietnam 7.1
Malaysia 46.8 China 5.5
China 31.5 Singapore 4.9
India 27.5 India 4.7
Vietnam 24.1 Malaysia 4.2
Indonesia 15.7 Indonesia 2.8
Source : World Bank, WHO 2017
 Q3 2018 Results 24

Hospitals in Indonesia

No OWNER 2012 2013 2014 2015 2016 2017 Mar 2018

1 MOH 32 33 34 36 33 33 33
2 PROVINCE GOVERNMENT 89 96 98 113 120 136 138
3 MUNICIPAL GOVERNMENT 88 92 93 98 97 97 97
4 DISTRICT GOVERNMENT 444 455 463 469 480 497 510
5 ARMY / POLICE 155 159 170 170 167 171 171
6 OTHER MINISTRIES 79 79 79 79 77 78 78
/ PUBLIC
COMPANIES
7 PRIVATE 1,179 1,314 1,472 1,525 1,627 1,765 1,800
TOTAL 2,066 2,228 2,409 2,490 2,601 2,777 2,827

Summarize # of private hospitals as footnote on previous page

Source : Ministry of Health

 Q3 2018 Results 25

Indonesia’s Aging Population

CHANGE OF INDONESIA’S POPULATION STRUCTURE IN 44 YEARS
Population Pyramid 1971 Population Pyramid 2015

Male Female Student Employed Others

s
Total Life Urban Total Life Urban
population expectancy population population expectancy population

years
years

Mn Mn

Source:
Kompas Newspaper 12 July 2017
edition.
 Q3 2018 Results 26

Disclaimer

This presentation has been prepared by PT Siloam International Hospitals, Tbk (SILO ) and is circulated for the purpose of general
information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the
securities of SILO. No warranty ( expressed or implied ) is made to the accuracy or completeness of the information. All opinions and
estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. SILO
disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of
reliance upon the whole or any part of the contents of this presentation and neither SILO nor any of its affiliated companies and their
respective employees and agents accept liability for any errors, omission, negligent or otherwise, in this presentation and any
inaccuracy herein or omission here from which might otherwise arise.

Forward – Looking Statements

The information communicated in this presentation contains certain statements that are or may be forward looking. These statements
typically contain words such as “will”, “expects” and “anticipates” and words of similar import. By their nature, forward looking
statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those
described in this presentation. Factors that could cause actual results to differ include, but are not limited to, economic, social, and
political conditions in Indonesia ; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory
burdens in Indonesia, including environmental regulation and compliance cost; fluctuations in foreign currency exchange rates;
interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for SILO developments and
related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other
companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits, and
training, governmental and public policy changes; SILO’s ability to be and remain competitive; SILO’s financial condition, business
strategy as well as the plans and objectives of SILO’s management for future operations; generation of future receivables; and
environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual
results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could
increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized.
Although SILO believes that the expectations of its management as reflected by such forward –looking statements are reasonable
based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You
should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and SILO undertakes no
obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
 27

Care and Compassion for the Nation

THANK YOU

BALI• BALIKPAPAN • CIKARANG • DEPOK• JAKARTA• JAMBI • KUPANG• MAKASSAR • MANADO• MEDAN• PALEMBANG• PURWAKARTA •SURABAYA• TANGERANG