Financial Performance SMGR Corp Material Presentation_December 2008.

St riving t o maximize value 6 AGENDA I. Indonesia Cement Highlight s II. Corporat e Prof ile

III. Financial Performance

IV. St rat egic Init iat ives

V. Appendix

St riving t o maximize value 7 FINANCIAL HIGHLIGHTS 6,123 7,915 1,272 2,063 1,734 2,895 7,092 9M07 19 7 47 20 27 21 15 CAGR 2003 - 2007 7,538 9,670 1,799 2,775 2,396 3,793 8,798 9M08

23.1 6,627

5,500 4,467 3,642 3,334 Total Equity

22.2 8,515

7,496 7,298 6,666 6,559 Total assets

41.4 1,775

1,296 1,002 509 373 Net profit

34.5 2,855

2,234 1,999 1,412 1,386 EBITDA

38.2 2,397

1,779 1,539 965 929 Operating profit

31.0 4,001

3,328 2,892 2,061 1,893 Gross Profit

24.1 9,601

8,728 7,532 6,068 5,450 Revenue Change 2007 2006 2005 2004 2003 Rp billions KEY FINANCIAL HIGHLIGHTS Unaudit ed Unaudit ed St riving t o maximize value 8 Ot her s 8. 1 Player 2 19. 3 Player 1 34. 7 Semen Gr esi k 18. 2 Semen Padang 11. 9 Semen T onasa 7. 8 CAPACITY SHARE — 2007 CAPACITY SHARE — 2007 Sem en Tonasa 8. 6 Ot her s 10. 2 Semen Padang 14. 2 Semen Gr esi k 21. 6 Player 1 30. 9 Player 2 14. 6 Total Capacity = 45. 07 mn tons SGG Total 37.9 SGG Total 44.4 MARKET LEADER IN TERMS OF REVENUE AND CAPACITY SHARE Leading market share for the past several years Total Consumption = 34. 2 mn tons DOMESTIC MARKET SHARE — 2007 DOMESTIC MARKET SHARE — 2007 Source: Research report s, management plan CAPACITY SHARE — 11M 2008 CAPACITY SHARE — 11M 2008 DOMESTIC MARKET SHARE — 11M 2008 DOMESTIC MARKET SHARE — 11M 2008 SGG Total 43.6 Total Consumption = 34. 96 mn tons Total Consumption = 34. 96 mn tons SGG Total 38.1 Total Capacity = 47. 22 mn tons Total Capacity = 47. 22 mn tons Sem en Tonasa 3. 5 Ot her s 3. 62 Sem en Padang 5. 9 Sem en Gr esi k 8. 6 Player 1 17. 7 Player 2 7. 9 Semen Tonasa 8. 4 Ot her s 10. 0 Semen Padang 13. 4 Sem en Gresi k 21. 8 Player 1 32. 4 Player 2 14. 2 St riving t o maximize value 9 CONSISTENT REVENUE GROWTH WITH STRONG BALANCE SHEET Revenue—last 5 years IDR bn Sales volumes—last 5 years mm t ons Cash balance IDR bn Total debt IDR bn 4,995 5,613 6,933 8,163 8,948 8,457 341 653 565 599 454 455 2003 2004 2005 2006 2007 9M 2008 Domest ic Sales Export Sales CAGR 03—07 10 16 12.0 13.3 14.3 15.0 15.2 12.4 2.3 2.3 2.1 1.8 1.8 0.8 2003 2004 2005 2006 2007 9M 2008 Domest ic Expor t 5 6 CAGR 03—07 Not e: Sales volumes include cement and clinker volumes 3, 304 1, 424 2, 939 1, 929 642 908 2003 2004 2005 2006 2007 9M 2008 CAGR 03—0 7 46 73 146 1, 526 1, 093 849 212 2003 2004 2005 2006 2007 9M 2008 CAGR 03— 07 -39 Include short t erm invest ment St riving t o maximize value 10 SOLID PROFITABILITY INDICATORS Return on asset 5.6 7.7 14.3 17.5 22.2 18.6 2003 2004 2005 2006 2007 9M 2008 Net margin 6.8 8.4 13.3 14.8 18.5 20.4 2003 2004 2005 2006 2007 9M 2008 Total assets turnover 81.5 91.8 107.9118.0 119.9109.9 2003 2004 2005 2006 2007 9M 2008 : Avg. total assets IDR bn 6,684 6,613 6,982 7,397 8,006 9,670 2003 2004 2005 2006 2007 9M 2008 Revenue IDR bn 5,450 6,068 7,532 8,728 9,601 8,798 2003 2004 2005 2006 2007 9M 2008 373 509 1,002 1,296 1,775 1,799 2003 2004 2005 2006 2007 9M 2008 Net profit IDR bn : : St riving t o maximize value 11 SOLID PROFITABILITY INDICATORS 11.6 14.6 24.7 26.0 29.0 23.9 2003 2004 2005 2006 2007 9M 2008 Return on equity EBITDA margin 25.4 23.3 26.5 25.6 29.7 31.6 2003 2004 2005 2006 2007 9M 2008 1,386 1,412 1,999 2,234 2,775 2,849 2003 2004 2005 2006 2007 9M 2008 EBITDA IDR bn St riving t o maximize value 12 SOLID CREDIT METRICS 0.8x 1.1x 0.05x 0.4x 0.09x 0.03x 2003 2004 2005 2006 2007 9M 2008 Debt EBITDA EBITDA int erest 12.6x 27.6x 207.6x 5.9x 3.4x 243.8x 2003 2004 2005 2006 2007 9M 2008 Debt capital 4 20 6 2.5 35 29 2003 2004 2005 2006 2007 9M 2008 Debt equity 0.41x 0.54x 0.04x 0.24x 0.06x 0.03x 2003 2004 2005 2006 2007 9M 2008 St riving t o maximize value 13 AGENDA I. Indonesian Cement Highlight s II. Corporat e Prof ile III. Financial Perf ormance

IV. St rategic Initiatives