15.3 29.3 MPMX 1Q17 Presentation vF 2

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PT Saratoga Investama Sedaya Tbk Affiliates Morninglight Investment S.a.r.l Claris Investment Pte. Ltd. Public Others Board of Commissioners Strong mix of operational, strategy, MA, and governance expertise Board of Directors Over 100 years of combined professional experience Rudy Halim Group CEO Troy Parwata Group CFO Agung Kusumo Managing Director Titien Supeno HR Director Andi Esfandiari Director Edwin Soeryadjaya Chairman Tossin Himawan Commissioner Danny Walla Commissioner Lee Chul Joo Commissioner Istama Siddharta Independent Commissioner Simon Halim Independent Commissioner Shareholding Resource: MPMX, as of 31 Mar 2017 7 Resource: MPMX, as of 31 Mar 2017 16 MPMInsurance Offices Outlets 47 FKT Distributors for Federal Oil Federal Mobil 33 MPMRent Offices Service Points 10 MPMAuto Dealers 83 MPMFinance Offices Outlets 40 MPMotor Retail Outlets 290 MPMulia Dealers 8 01 MPM: Company Highlights 02 Consolidated Financial Results: FY 16 and 1Q 17 Updates 03 Business Segment Performance 9 Revenues 1Q17 Rp 4.0T -12.6 QoQ, -4.5 YoY 75 10 7 8 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance -7 -5 +12 +11 252 21 32 31 26 YOY 1Q16 1Q17 3,959 4,143 -4.5 YoY revenue growth Distribution Retail Consumer Parts Auto Services Financial Services Elimination Revenues Growth YOY, in Rp billion Summary  Lower sales from Distribution Retail is due to limited product availability of 4W and unfavourable weather affecting 2W sales  Lubricant sales decrease slightly on the back of year-end promotion and slow traffic to outlets  Higher revenue from Auto Services due to achieving better disposal value  Financial Services booked higher new bookings during the period 10 10 8 44 38 10 20 30 40 50 Financial Services Auto Services Auto Consumer Parts Distribution Retail Rp 129B 81.0 QoQ, 80.2 YoY NPATMI 1Q17 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance YOY -23 -2 +137 +781 +80 11 1 7 41 38 72 1Q16 1Q17 129 17 +74 -901 YoY NPATMI growth Distribution Retail Consumer Parts Auto Services Financial Services Head Office Minority Interest NPATMI Growth YOY, in Rp billion Summary  One-off gain of Rp36B from the sale of fixed asset attributed from Head Office  Lower COF and higher asset quality drive the significant rise in NPATMI from Financial Services  NPATMI in Distribution Retail fell due to the low 4W sales as a result of limited product availability 11 Financial Highlights in Rp billion Net Revenues Gross Profit NPATMI EBITDA CAPEX 1Q17 3,959 627 129 366 124 QoQ -12.6 -16.9 81.0 3.4 -30.5 YoY -4.5 4.3 80.2 36.3 -24.4 1Q17 3,650 413 102 307 122 QoQ -13.0 4.8 422.7 27.9 -30.6 YoY -5.5 -3.3 46.2 14.8 -25.0 1Q17 322 225 46 59 2 QoQ -7.5 -39.1 -47.3 -48.1 -20.9 YoY 10.7 23.0 1105.9 5899.5 37.6 Consolidated Non Financial Services Financial Services Summary  Strong growth in earnings recorded +80 YoY, due to overall improvement in operations across all business  Excluding one-off gain on sale of fixed assets Rp 36B, earnings during the period grew by 30 YoY  Slight decline in revenue -4.5 YoY, lower sales especially in 4W business due to limited product availability 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance NPAT Rev - 15.8 3.3 9.3 3.1 Rev - 11.3 2.8 8.4 3.3 Rev - 69.9 14.2 18.3 0.6 12 Financial Highlights in Rp billion Net Revenues Gross Profit NPATMI EBITDA CAPEX FY16 17,723 2,631 361 1,289 792 FY15 16,640 2,299 285 1,160 876 YoY 6.5 14.5 26.6 11.1 -9.6 FY16 16,509 1,728 290 1,144 785 FY15 15,471 1,581 254 1,093 851 YoY 6.7 9.3 14.0 4.7 -7.8 FY16 1,259 938 121 145 7 FY15 1,209 745 54 67 25 YoY 4.1 25.9 124.7 117.5 -73.9 Consolidated Non Financial Services Financial Services Summary  FY16 earnings grew by 27 YoY, driven by successful implementation of key strategic initiatives by the management  Revenue grew by 7 YoY, highlighted by robust sales in 2W despite the downward trend nationwide in 2016 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance NPAT Rev - 14.8 2.0 7.3 4.5 Rev - 10.5 1.8 6.9 4.8 Rev - 74.5 9.6 11.5 0.5 13 Cash and Cash Equivalents Total Asset Bank Funding Bonds MTN BV of Equity 1Q17 812 14,802 4,061 2,631 300 5,828 QoQ -36.8 -0.8 -5.4 -2.4 - 3.2 YoY -46.2 1.8 1.9 0.9 - 6.0 1Q17 540 9,177 335 2,631 - 4,806 QoQ -45.4 -3.7 -55.1 -2.4 - 3.2 YoY -45.0 -5.8 -54.4 0.9 - 5.5 1Q17 272 6,562 3,726 - 300 1,937 QoQ -7.7 3.8 5.1 - - 1.7 YoY 48.6 14.6 14.7 - - 4.1 Consolidated Non Financial Services Financial Services 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance 2.2x 0.5x 6.2 3.3 3.8x Net DebtEBITDA Net DebtEquity ROE ROA FCCR 4.6x 1.1x 8.3 3.3 4.7x 4.2x 1.1x 7.5 2.8 4.2x 4.9x 0.9x 5.3 2.0 3.6x 2.6x 0.5x 1.7 0.8 2.8x 2.2x 0.5x 6.1 2.9 3.6x 15.8x 1.9x 9.5 2.8 - 7.8x 1.9x 18.2 5.5 - 724.1x 1.5x 0.8 0.3 - Annualize figure  Cash and NFS Bank Funding level decreased driven by positive effect of centralized treasury center  ROE ROA improvement significantly due to increased in net profit  Improved FCCR due to lower interest expenses 1Q17 4Q16 1Q16 1Q17 4Q16 1Q16 1Q17 4Q16 1Q16 14 Cash Total Asset Bank Funding Bonds BV of Equity FY16 1,285 14,926 4,293 2,696 5,647 FY15 1,484 14,480 4,338 2,754 5,340 YoY -13.4 3.1 -1.0 -2.1 5.8 FY16 990 9,534 747 2,696 4,657 FY15 1,160 9,741 936 2,754 4,399 YoY -14.6 -2.1 -18.6 -2.1 -5.8 FY16 295 6,325 3,546 - 1,905 FY15 324 5,671 3,402 - 1,855 YoY -9.0 11.5 4.2 - 2.7 Consolidated Non Financial Services Financial Services 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance 2.2x 0.5x 6.2 3.0 3.4x Net DebtEBITDA Net DebtEquity ROE ROA FCCR 4.7x 1.1x 7.3 2.7 3.9x 4.8x 1.1x 5.8 2.1 3.6x - - - - - 2.3x 0.6x 5.8 2.6 3.4x - - - - - - 1.9x 6.3 1.9 - - 1.7x 2.9 0.9 - - - - - -  Cash and NFS Bank Funding level decreased due to the Centralized treasury center impact  Great improvement on ROE and ROA due to the increased net profit 15 Financial Highlights in Rp billion 1Q17 5.2 250 103 45 17 4 Summary  Focus on productivity such as Revenue per Head Count  Continusly monitoring OPEX items especially CB, AP and TS  AP has increased due to 2W slow demand as well as reclassification of 2W OHC cost in Dec’16 to COGS  Lower provision number reflects better quality of assets booked from MPMFinance  Optimization of Capital Structure and reduce overall cost of funding  Set up Treasury centre to manage funds more efficiently within the group and reduce admin expenses 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance Revenue HC Total Opex • CB • AP • TS • Provision Average CoF 1Q17 3.6 412 170 51 18 74 8.8 Consolidated Non Financial Services Financial Services QoQ -17.4 -27.5 -1.8 88.1 -29.3 -54.2 YoY -4.3 -5.7 -1.5 -9.8 -11.6 -16.7 QoQ -20.2 -21.2 1.1 108.6 -29.4 -73.0 YoY -9.8 -4.0 -1.2 -15.1 -12.1 9.5 1Q17 0.8 181 67 6 1 70 QoQ -8.2 -33.3 -6.0 9.3 17.1 -52.3 YoY 19.8 -7.5 -2.0 65.0 38.6 -17.9 Rev - 10.6 4.3 1.3 0.4 1.9 Rev - 6.9 2.8 1.2 0.5 0.1 Rev - 56.3 20.9 1.9 0.1 21.7 Note: CB: Compensation Benefit AP: Advertising Promotion TS: Transport Storage 16 AR Days AP Days Inventory Days 1Q16 18.8 30.3 22.4 YoY -11.5 -14.6 -0.6 Operational Highlights Non Financial Services Summary  Focus on generating positive and growing OCF  Decreasing operating CF and increasing financing CF of FS are due to growing new booking of MPMFinance  Lower Financing CF of NFS indicate less reliance on new borrowing  Shortened AR days show improvement in cash collection 1,285 -165 -82 -226 812 1,484 303 -146 -130 1,511 1Q16 Beginning Balance Operating Activities Investing Activities Financing Activities Ending Balance 1Q17 1Q17 Cash Flow in Rp billion Beginning Balance CF from Operating CF from Investing CF from Financing Ending Balance 1Q17 1,285 -165 -82 -226 812 YoY -13.4 -154.4 43.9 -73.4 -46.2 1Q17 990 47 -71 -426 540 YoY -14.6 -71.3 48.8 -109.5 -45.0 1Q17 295 -212 -11 200 272 YoY -9.0 -252.6 -53.3 173.9 -48.6 Consolidated Non Financial Services Financial Services 1 Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS SAK 2 Financial Services : MPMFinance MPMInsurance 1Q17 16.6 25.9 22.3 17 Summary  Kick off Accelerate Collaborative Economy initiative within MPM Group  Focus on Financing and Insurance penetration to MPM’s distribution and retail business  Launch MPM Planet initiative through RallyPoint App  Ecosystem to build customer engagement and loyalty 18 MPMX JACCS Plans in MPMFinance Established as 60:40 JV between MPMX and JACCS after the merger between SAF and MPMFinance. Jun ‘14 MPMX announced plan to sell partial stakes in MPMFinance to JACCS. MPMX will to hold 40 and JACCS to hold 60 in MPMFinance post transaction. Feb ‘17 MPMX JACCS announced formal signing of definitive agreement. MPMFinance will be deconsolidated from MPMX. JACCS will take the lead of the direction and MPMX to support through its network, while allowing access to diversified and competitive funding sources. Mar ‘17 Transaction finalization expected to be in 2Q17 2Q17 19 Mulia received Best Performance PIC Community 2016 from AHM Jan’17 MPM received The Most Innovative Business Award 2017 for category Wholesale from Warta Ekonomi Feb’17 FKT received Top Brand Award 2017 category 2W Engine Lubricant for its brand Federal Oil Feb’17 Federal Oil received Silver Champion of Indonesia WOW Brand 2017 for category 2W engine lubricant Mar’17 MPM rebranding with its new vision mission Mar’17 20 01 MPM: Company Highlights 02 Consolidated Financial Results: FY 16 and 1Q 17 Updates 03 Business Segment Performance 21 902 912 897 FY15 FY16 1Q17 -2 Revenue in Billions of Rupiah, YoY Sales Volume Unit in thousands, YoY +1 261 338 339 FY15 FY16 1Q17 +30 Mulia 129 132 131 FY15 FY16 1Q17 +2 MSO FY15 FY16 1Q17 14,459 14,365 +7 13,544 -0 -1 +0 9,823 NPAT in Billions of Rupiah, YoY 1Q17 Highlights Overall sales volume in 1Q17 was slightly lower than 1Q16 but well above industry average due to the following: o Unfavorable weather condition affected the local economy, thus lower purchasing power. o Higher inventory at dealers. o The national motorcycle sales slipped 8 YoY to 1.4M. Key Initiatives o Launch of new scooter sport motorcycles. o Ramp up sales promotion activities to consumer, dealers, and financing companies. o Improve cost efficiency by relocating outsourced labor. o Finalize third warehouse construction to lower rental costs. o Continuously improve current business processes. CONTINUE LEADERSHIP IN E. JAVA AND NTT 1Q16 1Q17 1Q16 1Q17 72 73 1Q16 1Q17 1Q16 1Q17 212 197 29 28 3,184 3,278 -7 -2 -3 +0 22 -85 -102 -112 IMPROVE SALES PRODUCTIVITY SERVICE LEVEL Sales Volume Units, YoY 1Q17 Highlights Overall sale volume was decreased in 1Q17 due to the following: o 528 units of Nissan-Datsun cars were sold, representing a 66 decrease from the same period due to the limited product availability. Key Initiatives o Focus on operational efficiency and sales productivity as well as after-sales service quality to the customers for the rest of the year. FY15 FY16 1Q17 -22 +29 -13 260 -10 9,823 NPAT in Billions of Rupiah, YoY Revenue in Billions of Rupiah, YoY FY15 FY16 1Q17 FY15 FY16 1Q17 773 619 +20 643 -20 1Q16 1Q17 1Q16 1Q17 256 -25 -35 1Q16 1Q17 1,551 528 102 -66 -60 -38 3,680 4,755 3,732 23 FKT maintained stable performance despite the slowdown in the economy. Here are the drivers: o Low consumer traffic to retail outlets due to weather impacted the level of demand. o Steady profit illustrates a solid foundation of the business. Key Initiatives o Federal Oil 2W o Strengthen channel development o Increase product quality o Federal Mobil 4W o Focusing on market growth outside of Jakarta and Surabaya o Improve B2B channels Sales Volume Units in thousand litres, YoY FY15 FY16 1Q17 +7 260 9,823 NPAT in Billions of Rupiah, YoY Revenue in Billions of Rupiah, YoY -0 FY15 FY16 1Q17 1,675 1,651 1,582 -1 59,200 63,341 63,320 -0 1Q17 Highlights 1Q16 1Q17 -7 14,590 1Q16 1Q17 -6 69 69 1Q16 1Q17 -0 -10 48 253 +6 15,611 409 385 272 272 1Q17 FY16 FY15 24 1 8 - 33 1Q17 Highlights MAINTAIN OPERATIONAL EXCELLENCE CASH FLOW An excellent first quarter for MPMRent. Here is the summary: o Strong net profit delivered, representing a significant growth from last year. o Fleet size grows steadily. o Strong growth was driven by higher gross profit, OpEx cost saving, and lower financing cost. Key Initiatives o Continue improving operational efficiency and productivity o Improve the portfolio of corporate clients, including new offerings to customers Fleet Size Units, YoY FY15 FY16 1Q17 +1 260 9,823 NPAT in Billions of Rupiah, YoY Revenue in Billions of Rupiah, YoY +2 FY15 FY16 1Q17 1,091 1,092 1,123 -3 +0 13,935 14,137 14,425 +700 1Q16 1Q17 +2 1Q16 1Q17 + 266 267 5 12 1Q16 1Q17 + 169 +103 13,847 14,135 1Q17 FY16 FY15 25 1,185 1,189 1,164 +2 +3 An excellent first quarter performance for MPMFinance, and here is why. o Asset quality greatly improved, posting NPL level of 2.3 in 1Q17 from 3.3 last year.