Siloam International Hospitals

2019 Hospital of The Year – Global Health and Travel

1Q19 Results
 2

Indonesia in Numbers

±264,000,000
The Population of Indonesia

±53,000 ±238,000
Total number of Hospital
Doctors in Indonesia(1) Beds in Indonesia(1)

Despite growth in healthcare

in recent years, the number
± 2.0 ± 9.0 of doctors and hospital beds
Doctors to 10,000 Beds to 10,000 population per population in Indonesia is
population in Indonesia(1) in Indonesia(1) still significantly below
regional peers.

±10.4 ± 18.6
Doctors to 10,000 Average beds to 10,000
population in China, population in China,
Vietnam, India, Malaysia, Vietnam, India, Malaysia,
and Indonesia(1) and Indonesia(1)

(1) Source: WHO and World Bank, 2017

 3

Indonesian Government Healthcare Spending

7
According to McKinsey, the US$2bn
BPJS Participation
(million people) (3)
annual
6 value of private 100%
medical insurance will 6.12 % of BPJS
coverage
5
double from 2012 until 2020 79% 82%
269
to US$2bn (1). 71%
4 65%
207.8 217.5
187.9
3 171.9
3
2

1 1.5
-
0
2007 2012 2020 2016 2017 2018 2019 2019F

The number of insured people BPJS Participation (mn people)

by private medical insurance
providers experienced a 33%
6,046
Indonesian Government
growth (2)
Healthcare Budget Spending
4,534 33%
CAGR 2015-2019
15.4% (4)
The increasing demand for healthcare
0
2016 2017
services in Indonesia will create substantial
opportunities for private healthcare providers.
No. of Insured
Source: (1) McKinsey Report, (2) OJK Insurance Statistics 2017, (3) BPJS Kesehatann, (4) Ministry of Finance
 4

We initiated a rapid expansion stage in 2011 which has resulted in a network capacity of 7,213 beds
Flagship SH Mataram
Mature
BPJS SH Bekasi
New Timur SH Palangka
SH Bangka Raya
Belitung
Owned RSU Kelapa
Hospitals SH SH Jember Dua
Balikpapan SH Cirebon
RSU
SH Lippo BIMC Asri SH Lubuk Syubbanul
SH Jambi Sentosa
Cikarang Nusa Dua Linggau Wathon
# IPO
1996 2002 2011 2012 2013# 2014 2016* 2017* 2018 2019 *Rights

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

RSUS/SHLV

Total Bed Capacity: No. of GPs, Specialist

7,213 and Dentist: 3,098

Total Operational No of Nurses and

Notes:
Beds: 3,676 Medical Staff: 6,984
*Financials and operational
metrics include all hospitals
and exclude clinics
 5

Payee Groups
Payee Groups Out of Pocket Corporate + BPJS
Insurance
Description Patients paying by Patients covered by Patients covered by
themselves with their corporate and BPJS national
cash, debit or credit insurance providers insurance
cards

% Contribution to NGOR (1Q19)

27%
35%

37%

Out of Pocket Corporate + Insurance BPJS

 6

Siloam Revenue by Payee Group (IDR mn)

% Contribution to NGOR (1Q19)

Out of Pocket Corporate & Insurance has continued to

accelerate from its growth in 2018 and
27% was the largest contributor to Siloam
35% Corporate +
Insurance revenue in 1Q19

37% BPJS

% growth
28%
6%
10% 639
605
568 (9%) 571 12%
23%
517 4% 498
467
445 18%
428
56% 379
320

206

-
1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Out of Pocket Corporate + Insurance BPJS
 7

Siloam Revenue by Payee Group (IDR mn)

% Contribution to NGOR (FY18)

Out of Pocket Corporate & Insurance grew at a

27% higher percentage than the other two
38% payee groups in 2018. This growth
Corporate +
Insurance continued to accelerate in 1Q19
35%
BPJS

% growth

1% 9%
(5%) 2,253 17%
2,140 2,170
2,063 6% 2% 2,080
14%
1,747 1,780
1,650 49% 1,631
1,432
207%
958

312
-
2015 2016 2017 2018 2015 2016 2017 2018 2015 2016 2017 2018
Out of Pocket Corporate + Insurance BPJS
 8

Additions to Executive Management Team

We’ve recently made additions to our executive management

team: Daniel Phua as CFO, Varun Khanna as CCO, Ryanto
Martino as Chief Enterprise & Operations Officer.

They have proven track records of driving revenue growth at top

tier international companies. They’ve been tasked to drive the
next phase of business innovation and revenue growth.
 9

New Top Caliber Management Team

Daniel Phua (Phua Meng Kuan), Chief Financial Officer & Board Director

• Prior to joining Siloam, he was Group Chief Finacial Officer (CFO) & Chief Business
Transformation Offiicer at PT Blue Bird Tbk (Ticker: BIRD) where he sucessfully
implemented their online strategy to tackle the rise of online competition

• Was Group Chief Finacial Officer (CFO) of Singapore Post (Ticker: S08) where he
transformed the Singaporean postal company into one of the best logistic players in the
region

• Head of Internal Audit and Risk Manager for Astra International

• 23 years of experiences in finance, business strategy and process improvement in both state-owned and
private companies

• Daniel is registered as Certified Public Accountant (CPA) from Australia

5/16/2019
 10

New Top Caliber Management Team

Varun Khanna, Chief Commercial Officer

• Before joining Siloam, he was the Executive Vice President and Group Chief Commercial
Officer (CCO) for Fortis Healthcare in India

• Previously to Fortis he was a Managing Director of Becton Dickson & Co, a large
American Medical technology company with a large presence in India & South Asia

• He's been an advisor to leading global equity funds providing expertise in

healthcare delivery

• He brings 20 years of experience in healthcare services companies such as Etisalat Group, Reliance
Industries, and Bharti Airtel

• Varun has many notable accolades in healthcare industry, including the award for the Best CEO in a Medtech
Company 2015, Top 40 Healthcare Professionals 2016, ET Best Healthcare Brand and Aon Best Employers
2016 for BD – India

• Holds a Bachelor of Science in Computer Science from Kurukshetra University and Post Graduate Diploma in
Management from IPM, India

5/16/2019
 11

New Top Caliber Management Team

Ryanto Martino Tedjomulja, Chief Enterprise & Operations Officer &
Director

• More than 20 years of experience in senior management roles, including Managing

Director in Products Operation Group in Accenture

• Joined Siloam Hospitals Group from 2017 as Chief Enterprise & Operations Officer and
recently appointed to Siloam Board of Directors

• He was the initiator of My Siloam application which is an online-based booking system for patients that is
going to be implemented next year

• Holds a Bachelor Degree in Industrial Engineering from Bandung Institute of Technology

5/16/2019
 12

Change to More Efficient and Accountable

Management Structure

Previously, all hospitals CEOs reported through to one director. This

could caused a bottleneck, as decision making was centralized with
only one director.

To enhance productivity, Siloam has implemented a de-centralized

regional CEO management structure to increase accountability and
efficiency.
 13

Original Management Structure Prior to Improvement

Siloam Head Office
Reporting Line

Group CEO

Siloam Head Office Previously, all 37 hospitals

reported and monitored by
Chief Hospitals Network Officer one Chief Hospitals Network
Officer
 14

New De-centralized Regional CEO Management Structure

Reporting Line Siloam Head Office

Group CEO

Siloam Head Office

Hospitals are divided into
5 regions geographically.
Chief Operating Officer They all led by Regional
CEOs.

Region 1 Region 2 Region 3 Region 4 Region 5

Regional CEO Regional CEO Regional CEO Regional CEO Regional CEO
 15

Siloam Hospitals by Region

Region 1
Region 2
Region 3
Region 4
Region 5
 16

Siloam Hospitals Financials by Region

Region Region 1 Region 2 Region 3 Region 4 Region 5
East Java, Bali, West
Jakarta and Greater West to Central Java & East Nusa Sulawesi to Sumatera and
Description
Jakarta Area Area Tenggara as well as Kalimantan Bangka Belitung
Timor
No. of Hospitals 8 10 8 6 5
1Q19 790 206 308 247 153
1Q18 688 163 266 207 122
Net GOR (IDRbn)
FY18 2741 706 1148 839 518
FY17 2546 525 1061 738 424
1Q19 591 158 232 186 115
1Q18 506 127 201 155 91
NOR (IDR bn)
FY18 2050 543 860 622 358
FY17 1856 415 801 550 319
1Q19 172 8 61 44 17

EBITDA (IDR bn) 1Q18 122 9 56 37 10

FY18 468 26 241 144 37
FY17 529 50 245 123 45
1Q19 199 48 76 62 38
1Q18 182 36 65 52 31
Doctor's Fee (IDR bn)
FY18 661 163 288 217 133
FY17 691 110 260 188 105
1Q19 241 66 88 77 48
1Q18 219 48 76 64 36
Material Cost (IDR bn)
FY18 853 213 309 263 157
FY17 801 157 290 232 131
1Q19 156 70 73 56 46
1Q18 145 57 63 47 41
OPEX (IDR bn)
FY18 583 248 270 191 172
FY17 541 170 243 174 124
 17

Siloam Hospitals by Segments

Total Hospitals: 37
Total Cities: 25

Segment Flagship Mature Distinct BPJS Ramping Up

Description Our highest Profitable but Hospitals that More than 50% Hospitals
revenue have potential are operating in of revenue is opened in the
generating for further distinct niche derived from last 2-3 years
hospitals, capacity growth markets with BPJS
established and high profitability
highly profitable profiles.

No. of Hospitals 3 10 4 7 13

Ownership First-REIT Lippo Siloam 3rd Party

Karawaci
No. of 15 3 10 9
Hospitals
 18

Consolidated Revenue of Siloam (IDR bn)

6% Flagship Flagship
9% 6%
9%
Mature Mature
7% 37% 36%
7%
Distinct Distinct

BPJS BPJS
41%
Ramping Up 41% Ramping Up

EBITDA Margin

13% % % growth
5,965

13%
5,274 4,490 14% 13% 13% 14%

3,961
7%
787
733

18% 19% 30%

1,711 1,292
1,448 1,086 237
182

- 0
0
2017 2018 1Q18 1Q19 FY17 FY18 1Q18 1Q19
FY17 FY18 1Q18 1Q19
NOR EBITDA
Net GOR
 19

Consolidated Cost of Siloam

Doctor's Fees as a % to GOR Material Cost a % to NOR OPEX as a % to NOR

40% 40% 41% 40%

32% 33% 33% 32%

25% 25% 25% 25%

0%

FY17 FY18 1Q18 1Q19 FY17 FY18 1Q18 1Q19 FY17 FY18 1Q18 1Q19
Doctor's Fee Material Cost OPEX
 20

Net GOR 1Q18 vs 1Q19

(IDR bn)

2000

1800 40 6
96 26
15
1600
80

1400

1200
IDR Bn

1000

800
1,711
1,448
600

400

200

0
1Q 18 Flagship Mature Distinct BPJS Ramping Others 1Q 19
Up
20
 21

EBITDA 1Q18 vs 1Q19

(IDR bn)

340

290

7 5 5
18
240
31
39
190

140

231
90 182

40

-10
1Q 18 Flagship Mature Distinct BPJS Ramping Others 1Q 19
Up
21
 22

Flagship Segment Hospitals

Date Bed Operational GPs & Land/Building

Name Place Nurses Centre of Excellence Accreditation
Opened Capacity Beds Specialists Ownership

SH Kebon Cardiology, Urology,

W. JAKARTA 2002 285 214 212 333
Jeruk Orthopedics, Emergency JCIA

SH Lippo Cardiology, Orthopedics,

TANGERANG 1996 308 274 279 373
Village Neuroscience, Emergency JCIA

MRCCC
Siloam S. JAKARTA 2011 334 176 187 248 Cancer, Liver, Emergency
Semanggi
 23

Flagship Segment Revenue (IDR bn)

% % growth

EBITDA Margin

NPAT Margin

13%
621
11%
0%
541 14%
479 481
11% 464
0% 24%
398
20% 19% 20%
353 354
15%
12%
26% 10%
9%
17%
(4%) 33%
148 23%
15%
94 109 95
91
41 49 63
-

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Net GOR NOR EBITDA NPAT
 24

Flagship Segment Cost

Doctor's Fees as a % to GOR Material Cost a % to NOR OPEX as a % to NOR

42% 42%
39% 40%

30%
27% 27% 28%
26% 25% 26%
24%

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Doctor's Fee Material Cost OPEX
 25

Mature Segment Hospitals

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

SH Surabaya E. JAVA 2002 162 160 159 244 Cardiology, Emergency

SH Lippo Occupational Health,

BEKASI 2002 164 118 90 150
Cikarang Emergency

SH Jambi E. SUMATERA 2011 119 107 70 125 Emergency

E.
SH Balikpapan 2002 232 165 97 140 Orthopedics, Emergency
KALIMANTAN

SH Manado N. SULAWESI 2012 238 177 115 192 Emergency

SH Cardiology, Emergency,
S. SULAWESI 2012 362 215 142 218
Makassar Endocrinology

SH Gastroenterology,
S. SUMATERA 2012 357 150 126 157
Palembang Emergency

Cardiology, Orthopedics,
SH Denpasar BALI 2013 281 124 141 177
Tourists, Emergency
JCIA

SH TB Cardiology, Emergency,
S. JAKARTA 2013 269 116 142 128
Simatupang Neuroscience, Oncology

SH Siloam
Dhirga
N. SUMATERA 2014 356 129 103 122 Emergency, Trauma
Surya
Medan
 26

Mature Segment Revenue (IDR bn)

% % growth

EBITDA Margin

NPAT Margin

14%

3% 703
11%
607 15%
586
524 6% 532
6%
454 21%
428 20% 19%
403 19%

11%
21%
7% 8% 8%
6% 2%
146 36%
113 115 17% 3%
106
39 46 48 75
-

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Net GOR NOR EBITDA NPAT
 27

Mature Segment Cost

Doctor's Fees as a % to GOR Material Cost a % to NOR OPEX as a % to NOR

39% 40% 40%

38%

32%
30% 30%
28%
24% 25% 24%
23%

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Doctor's Fee Material Cost OPEX
 28

Distinct Segment Hospitals

Date Bed Operational GPs & Land/Building

Name Place Nurses Centre of Excellence Accreditation
Opened Capacity Beds Specialists Ownership

SH Asri
(Mature S. JAKARTA 2014 49 42 117 78 Urology
West)

BIMC Kuta
BALI 2013 19 18 46 62 Tourists, Emergency
(Mature East)
3rd Party
BIMC Nusa
Cosmetic Surgery,
Dua (Mature BALI 2013 39 24 60 60
Emergency
East)

SH Cinere DEPOK 2012 50 33 24 42 Cardiology

3rd Party
 29

Distinct Segment Revenue (IDR bn)

% % growth

EBITDA Margin

NPAT Margin

29%
13%
26%
11% 23%
116
5% 21%
101 14%
11% 15%
85 90 (2%) 89
11% 12%
76 21%
69 67 7%
19%
16%
27%
18%
33 45%
21 26
18 6 10 12 17
-

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Net GOR NOR EBITDA NPAT
 30

Distinct Segment Cost

Doctor's Fees as a % to GOR Material Cost a % to NOR OPEX as a % to NOR

43%

36%
32% 31% 32%
30% 31% 30%
25% 25% 24%
19%

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Doctor's Fee Material Cost OPEX
 31

BPJS Hospitals
Date Bed Operational GPs & Land/Building
Name Place Nurses Centre of Excellence Accreditation
Opened Capacity Beds Specialists Ownership

SH Buton SE. SULAWESI 2016 140 80 31 91 Emergency

SH
W. JAVA 2014 220 212 77 241 Emergency
Purwakarta

E. NUSA
SH Kupang 2014 416 110 68 158 Emergency
TENGGARA

SH Labuan E. NUSA
2016 124 85 26 69 Emergency
Bajo TENGGARA

SGH
TANGERANG 2012 640 292 134 248 Emergency
(RSUS)

SGH Kelapa
TANGERANG 2019 40 40 28 38 Emergency
Dua

SGH 3rd party

Syubbanul C.JAVA 2019 43 43 19 28 Emergency
Wathon
 32

BPJS Segment Revenue (IDR bn)

% % growth

EBITDA Margin

NPAT Margin

20%

24% 0% 160
18% 11%
133 133 10%
21% (1%)
122 5% 3%
107 1%
105 104
(5%)
87
(13%)
(17%)
7%
(45%) (71%)

12 13 7 2 3 (310%) (178%) (57%)

(6) (18) (28)

(30)

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Net GOR NOR EBITDA NPAT
 33

BPJS Segment Cost

Doctor's Fees as a % to GOR Material Cost a % to NOR OPEX as a % to NOR

48% 48%
44% 45% 44%
41% 41%
39%

24%
21% 22%
18%

1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19 1Q16 1Q17 1Q18 1Q19
Doctor's Fee Material Cost OPEX
 34

Ramping Up Segment 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 99 47 105 Emergency
Bahagia
Lippo
SH Bogor W. JAVA 2017 246 59 65 54 Emergency affiliated
Parties

RS Siloam BANGKA
2017 412 33 36 51 Emergency
Bangka BELITUNG

RS Hosana
BEKASI 2017 98 60 44 78 Emergency
Bekasi

RS Siloam
YOGYAKARTA 2017 249 48 62 41 Emergency
Yogyakarta

Siloam Lippo
Medika Blu BEKASI 2017 53 32 44 60 Emergency affiliated
Plaza Parties
RS Siloam
Lubuk S. SUMATERA 2018 175 69 31 50 Emergency
Linggau

SH Jember E. JAVA 2018 323 30 39 42 Emergency

RS Umum
BEKASI 2017 50 50 47 58 Emergency
Sentosa
 35

Ramping Up Segment Hospitals (Cont’d)

Date Bed Operational GPs & Centre of Land/Building

Name Place Nurses Accreditation
Opened Capacity Beds Specialists Excellence Ownership

SH
Central Java 2018 50 22 48 24 Emergency 3rd Party
Semarang
SH
Palangka Kalimantan 2018 44 34 32 46 Emergency 3rd Party
Raya
SH West Nusa
2017 69 26 55 62 Emergency
Mataram Tenggara

SH East
2016 34 10 27 17 Emergency 3rd Party
Samarinda Kalimantan
 36

Ramping Up Segment Revenue (IDR bn)

% % growth

EBITDA Margin

NPAT Margin

61%
56%
104
491%
534% 75 (41%) (28%) (34%) (73%)
(37%) (89%)
64
48

(428%) (40)% (1454%) (32%)

11 8
(5) (24) (4)
(29)

(58)
(76)
(80)

1Q17 1Q18 1Q19 1Q17 1Q18 1Q19 1Q17 1Q18 1Q19 1Q17 1Q18 1Q19
Net GOR NOR EBITDA NPAT
 37

Ramping Up Segment Cost (IDR bn)

Doctor's Fees as a % to GOR Material Cost a % to NOR OPEX as a % to NOR

97%
94%

81%

53%
45%
40%
30%
25% 28%

1Q17 1Q18 1Q19 1Q17 1Q18 1Q19 1Q17 1Q18 1Q19

Doctor's Fee Material Cost OPEX
 38

New Online Reservation System

MY SILOAM - An Online/ Application
based booking system that will be rolled
out in the next year.
 Care and Compassion for the Nation

THANK YOU

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