Structure of the Company’s Subsidiaries

PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated 12

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d. Structure of the Company’s Subsidiaries

As of June 30, 2017 and December 31, 2016, The Company had direct and indirect ownership in the following Subsidiaries: Name of Subsidiaries Domicile Principal Activity Start of Operations Percentage of Ownership Total Assets Before Elimination June 30,2017 December 31, 2016 June 30,2017 December 31,2016 Direct Subsidiaries PT Bahagia Makmursejati BHMS Jakarta Property Development 2003 99.99 99.99 18,426,537 18,189,267 PT Serpong Cipta Kreasi SPCK Tangerang Property Development 2004 100.00 100.00 5,809,457,307 5,953,177,002 PT Anugerah Damai Abadi AGDA Tangerang Retail Food and Beverages 2007 100.00 100.00 6,081,883 6,650,766 PT Gading Orchard GDOR Jakarta Property Development 2008 100.00 100.00 49,051,389 47,224,825 PT Summarecon Property Development SMPD Jakarta Property Development 2012 100.00 100.00 6,055,681,755 5,547,460,807 PT Summarecon Investment Property SMIP Jakarta Investment Property 2012 100.00 100.00 4,353,474,584 4,335,387,516 PT Multi Abadi Prima MTAP Jakarta Gas Station 2013 100.00 100.00 12,437,106 26,378,370 PT Bhakti Karya Sejahtera BTKS Jakarta Education 2013 100.00 100.00 87,745,555 88,020,097 PT Citra Damai Agung CTDA Jakarta Property Development 2014 100.00 100.00 39,746,280 39,400,479 PT Bhakti Karya Bangsa BTKB Jakarta Education 2016 80.00 80.00 15,658,788 7,303,636 PT Sagraha Mitraloka Elok SGME Jakarta Trading 2017 100.00 100.00 8,232,708 478,484 PT Java Investama Properti JVIP Jakarta Investment Property - 100.00 100.00 15,095,285 15,101,611 PT Setia Mitra Intifajar SMIF Jakarta Property Development - 100.00 - 2,500,000 - Indirect Subsidiaries through SMPD PT Eskage Tatanan Kota EKTK Jakarta Town Management 2009 100.00 100.00 5,496,450 6,584,078 PT Bekasi Tatanan Kota BKTK Bekasi Town Management 2012 100.00 100.00 13,704,124 11,417,766 PT Mahkota Permata Perdana MKPP Bandung Property Development 2015 100.00 100.00 2,493,406,591 2,226,319,004 PT Maju Lestari Properti MJLP Jakarta Property Development - 100.00 100.00 37,235,122 36,957,460 PT Inovasi Jaya Properti IVJP Jakarta Property Development - 100.00 100.00 1,029,669,270 1,032,653,348 PT Mahkota Intan Cemerlang MKIC Jakarta Property Development - 100.00 100.00 409,476,857 410,910,470 PT Banyumas Eka Mandiri BYEM Jakarta Property Development - 100.00 100.00 280,922,438 280,028,472 PT Aruna Cahaya Abadi ARCA Jakarta Property Development - 100.00 100.00 71,522,460 71,117,621 PT Selaras Maju Mandiri SLMM Jakarta Property Development - 100.00 100.00 901,957,722 856,340,671 PT Orient City ORCT Jakarta Property Development - 100.00 100.00 927,625 2,782,553 PT Bumi Perintis Asri BMPA Tangerang Property Development - 100.00 100.00 61,902,138 62,511,730 PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated 13

1. GENERAL CONTINUED