2016.12.07 3Q16 Analyst Presentation vF

9M16 MPMX ANALYST

PRESENTATION

KEY MESSAGES

MPM Updates

Leading End-to-End Consumer Automotive Company in Indonesia

9M16 Business Segments Performance

Positive Growth in all Business Segments

9M16 Summary

-

+9% YoY Revenue Growth

-

-13% YoY NPATMI Growth

Founded by William

Soeryadjaya as 2W

distribution business

for Honda

Listed in IDX

(Code: MPMX),

appointed Nissan

Datsun dealership

2W development:

retail, parts, finance

Entered 4W business

rental & finance,

established insurance

Leading consumer

automotive company

in Indonesia

3

MPM BUSINESS:

4

3,9M+

active 2W

customers,

~4,000

4W sales

3,300+

2W FO Centers

15,000+

retailers,

~20%

market share 2W lube

(

#1

aftermarket)

1,300+

Corporate clients

14K

fleet size (

#3 largest

)

159K+

finance & lease

customers,

125K+

insurance clients

DISTRIBUTION & RETAIL

AUTO CONSUMER PARTS

AUTO SERVICES

FINANCIAL SERVICES

2W lubricant principal 35 distributors nationwide

4W lubricants since 2015 1,000+ workshops

nationwide

Independent 4W rental/lease company 33 outlets & workshops

Independent 2W, 4W, lease financing business

99 outlets nationwide

Non-life insurance including 2W, 4W, cargo,

& property 16 offices & 4 service

points nationwide 2W Honda distribution in

E. Java + E. Nusa Tenggara 289 dealer relationships 2W Honda retail dealers with 40 outlets nationwide

N/A

4W Nissan & Datsun nationwide distribution since 2014 with 10 dealers

*Data as at 30 September 2016

Parts distribution company Since 2015

-2% 4% 53% 45%

1% 7% 54% 38%

SEGMENT CONTRIBUTION

Revenues 9M15

IDR 12.1T

Revenues 9M16

IDR 13.2T

NPATMI 9M15

IDR 334B

NPATMI 9M16

IDR 290B

Distribution & Retail

Auto Consumer Parts

Auto Services

Financial Services

7%

6%

10%

77%

+9%

YoY

1) Non Financial Services : Mulia, MPMMotor, FKT, PMP, MPMAuto, MPMMobil, MPMRent, Grahamitra, DSS & SAK 2) Financial Services : MPMFinance & MPMInsurance

+1%

YoY

7%

7%

10%

76%

5

-13%

YoY

-16%

9M16 CONSOLIDATED REVENUE RESULTS (in Billions of Rupiah)

% Growth from

Last Year

+11%

+25%

-4%

-0%

Distribution

& Retail

Auto Consumer

Parts

Auto Services

Financial

Services

Elimination

12,133

9M15

9M16

13,193

+9%

YoY

1,087

296

(37)

(1)

(285)

6

QoQ

-9%

-11%

-6%

-3%

+1%

(444)

(31)

(9)

2

53

4,739

2Q16

3Q16

4,310

% Growth from

Last Quarter

9M16 CONSOLIDATED NPATMI RESULTS (in Billions of Rupiah)

YoY

+5%

+156%

-18%

Distribution

& Retail

8

(51)

10

(8)

9M16

(6)

334

9M15

Auto

Consumer

Parts

Auto

Services

Financial

Services

-13%

+1%

-4%

+21%

Elimination

Head

Office

Minority

Interest

290

3

7

108

3Q16

110

QoQ

-9%

-8%

-27%

-16%

+32%

+15%

(6)

(6)

(2)

(3)

1

2Q16

18

-18%

% Growth from

Last Year

% Growth from

Last Quarter

1,484

773

(498)

(448)

1,311

1,422

622

(441)

(151)

1,452

8

Operating

activities

Investing

activities

Financing

activities

Operating

activities

Beginning

Balance

Ending

Balance

9M16

9M15

Operating

cash inflow

increases

+24%

Investing cash

outflow

increases

+13%.

Financing cash

outflow

increases

+197%.

PT Saratoga Investama Sedaya

Tbk and Affiliates

Morninglight Investments S.a.r.l

Claris Investment Pte. Ltd.

Public & Others

Shareholder Composition as of 30 September 2016

GOVERNANCE AND MANAGEMENT

BOARD OF COMMISSIONERS

BOARD OF DIRECTORS

BoC brings strong mix of operational, strategy, M&A,

and governance expertise

BoD members bring over 100 years of combined

professional experience

48.6%

15.3%

6.8%

29.3% Tossin Himawan

Commissioner

Simon Halim

Lee Chul Joo Danny Walla

Istama Siddharta

Independent Commissioner

Commissioner

Commissioner

Independent Commissioner

Edwin Soeryadjaya Chairman

9

Andi Esfandiari Director Rudy Halim

Group CEO

Troy Parwata Group CFO/Managing

Director

Agung Kusumo Managing Director

Titien Supeno HR Director

2016 YTD KEY EVENTS

MPM Group listed as one of 50 Best

Companies by Forbes Indonesia

Aug 16

_{Sep 16}

FKT received 2 Best Brand Awards for

The Best W

Matic

Lu ri a t a d

The Best W Lu ri a t

MPM Group received the Indonesia Living Legend Companies Award 2016 – as The Strong Business Fundamentals in Automotive & Component Industry from

Warta Ekonomi magazine

Nov

1

6

Federal Oil received Social Media

Award for category 2W Engine

Lubricant

Oct 16

Sep 16

MPMInsurance awarded The Best Financial Performance General Insurance 2016 from Warta Ekonomi magazine for category of company asset

between IDR 400 - 600 bio

Mulia opened MPM Learning Center & Safety Riding Center in Sidoarjo

Sep 16

USD SENIOR NOTES HEDGING COVERAGE

–

ORIGINAL & TOP UP

Rp 12,000

Rp 14,000

Rp 15,000

Rp 16,000

USD Spot Rate

@ Market Spot Rate

@ Rp 12,000

Original Coverage

Settlement

@ Rp 2,000 subsidy

–

(Spot Rate

–

Rp 15,000)

@ Rp 2,000 subsidy

@ Rp 1,000 subsidy

Ave. Premium

Coverage

Participants

2.18%

Principal @ maturity (Sep 2019)

Coupon up to 2017

Deutsche Bank, Morgan Stanley, ANZ, MUFG

Top-Up Coverage

Settlement

@ Market Spot Rate

Back to original cover

@ Rp 14,000

0.73% p.a.

Principal @ maturity (Sep 2019)

Deutsche Bank, Morgan Stanley

+

KEY MESSAGES

MPM Updates

Leading End-to-End Consumer Automotive Company in Indonesia

Company Updates

Continued scale building and growth across all business segments

Company Updates

Continued scale building and growth across all business segments

9M16 Business Segments Performance

Positive Growth in all Business Segments

9M16 Summary

-

+9% YoY Revenue Growth

-

-13% YoY NPATMI Growth

94 96

9M15

9M16

2W DISTRIBUTION & RETAIL:

CONTINUE LEADERSHIP IN E. JAVA AND NTT

972 902 917

FY14

FY15

TTM

+2%

-7%

Sales Volume

(Unit in thousands, YoY%)

292

261

289

FY14

FY15

TTM

-11%

Revenue

(in Billions of Rupiah, YoY%)

NPAT

(in Billions of Rupiah, YoY%)

9M16 Highlights

• 2W sales volume maintains stable growth with +2% in 9M16 relative to 9M15.

• Lebaran festive period was a positive contributing factor to the 2W sales although the various natural disasters (flood,

earthquake, landslide) still distracted market condition.

• Higher revenue (+2% YoY) is driven by growth in sales volume, increase in unit price in 2016 and greater contribution from higher price models such as the scooter and sports type.

• 13% rise in NPAT as at 9M16 as compared to 9M15 is driven by improved profitability at Retail level as well as lower interest expense from dealers financing.

Mulia

120 129 131

FY14

FY15

TTM

+8%

MSO

FY14

FY15

TTM

13,544

14,415

+3%

Key Initiatives

• Launching of new scooter & sport motorcycles

• Ramping-up sales promotion activities to consumer, dealers, and financing companies

• Improve cost efficiency by relocating outsourced labor

• Finalizing third warehouse construction to lower rental costs

• Continuously improving current business processes

13,130

+2%

+6%

+11%

659 674

9M15

9M16

9M15

9M16

10,694 210 238

9M15

9M16

9,823

+2%

+2%

+9%

+13%

13

-52

-73

9M15

9M16

9M15

9M16

4W DEALERSHIP:

IMPROVE SALES PRODUCTIVITY & SERVICE LEVEL

-14

-85

-106

FY14

FY15

9M16

LTM

Sales Volume

(Units, YoY%)

NPAT

(in Billions of Rupiah, YoY%)

9M16 Highlights

FY14

FY15

TTM

1,382

3,680

5,296

Revenue

(in Billions of Rupiah, YoY%)

FY14

FY15

TTM

856

643

FY14

• Higher sales volume as at 30 September 2016 relative to same period last year (+67% YoY).

• 50% increase in revenue as at 9M16 is driven by higher sales volume as compared to same period last year.

• Lower NPAT as at 9M16 as compared to 9M15 is due to higher OPEX in relation to scaling-up of the 4W operations as well as additional interest expense which is realized after the contruction of the new dealerships are completed.

+166%

+33%

FY15

TTM

Key Initiatives

• Focus on sales productivity with cost efficiencies on existing dealerships

260

4,021 2,405

9M15

9M16

641 428

+67%

+50%

-40%

+44%

+147%

-25%

-507%

1,166

9M15

9M16

1,262

CONSUMER PARTS:

STRENGTHEN CHANNEL & NEW PRODUCT DEVELOPMENT

FY14

FY15

TTM

FY14

FY15

TTM

+7%

-5%

Sales Volume

(Unit in thousand litres, YoY%)

251

253

FY14

FY15

TTM

+20%

Revenue

(in Billions of Rupiah, YoY%)

NPAT

(in Billions of Rupiah, YoY%)

9M16 Highlights

-1%

62,116

59,200

• Sales volume as at September 2016 risen by 10% as compared to same period last year. Overall increase is contributed by improving sales performance in all segments.

• 8% increase in revenue as at 9M16 is in line with higher sales volume as compared to same period last year.

• Lower NPAT as at 9M16 as compared to same period last year is due to one-off gain in the Sale of Land & Building (+Rp 48B) in 9M15. However, if that was taken out, NPAT for the 2 periods would be relatively similar.

63,514

Federal Oil (2W)

• Strengthen channel development

• Increase product quality Federal Mobil (4W)

• Focusing on market growth outside Jakarta and Surabaya

• Improve B2B channels

1,678

+6%

-16%

253

9M15

9M16

43,667

230

9M15

9M16

230 47,981

+10%

+8%

-17%

1,592 1,582

Key Initiatives

15

48 ₄₈

*

67

-1

9

FY14

FY15

TTM

-32

AUTO SERVICES:

MAINTAIN OPERATIONAL EXCELLENCE & CASH FLOW

6

9M15

9M16

16

9M15

9M16

FY14

FY15

TTM

-9%

Fleet Size

(Units, YoY%)

Revenue

(in Billions of Rupiah, YoY%)

NPAT

(in Billions of Rupiah, YoY%)

9M16 Highlights

1,165

FY14

FY15

TTM

1,123

1,084

-4%

13,935 15,255

13,636

• Fleet size as at 30 September 2016 is slightly lower than last year but recovers from FY15 figure.

• 5% fall in revenue as at 9M16 in comparison to same period last year is due to lower rental income as a result of smaller fleet size as well as decrease in used car sales.

• Higher NPAT as at 30 September 2016 (+144% YoY) is driven by higher finance income and other non-operating income (gain on forex & gain on sale of building).

-2%

-3%

Key Initiatives

• Improving operational efficiency and productivity

• Improving the portfolio of corporate clients, including new offerings to customers

-101%

14,598 14,299

-2%

855

9M15

9M16

816

-5%

+144%

16

* TTM figure exclude Rp 32 Billions Loss on sale of Mining Vehicles

9M15

9M16

MPM

FINANCE

:

SELECTIVE GROWTH WHILE MAINTAINING FOCUS ON ASSET QUALITY

4,093

2,934 3,582

FY14

FY15

TTM

-28%

New Booking

(in Billions of Rupiah, YoY%)

1,145 1,164 1,126

FY14

FY15

TTM

+2%

86

27 14

FY14

FY15

TTM

-68%

Revenue

(in Billions of Rupiah, YoY%)

NPAT

(In Billion Rupiah, YoY%)

9M16 Highlights

• 30% rise in new bookings as at 9M16 in comparison to 9M15 is driven by increase in overall segment categories (especially finance lease) as well as greater emphasis on early monitoring system to reduce overall NPL.

• Lower NPAT as at 30 September 2016 in comparison to same period last year is due to higher provision for doubtful accounts (introduction of automatic 4W provisioning in January 2016).

• NPL 90+:

3.2%

3.1%

3.3%

3.2%

3.2%

Sep'15 Dec'15 Mar'16 Jun'16 Sep'16

+22%

-3%

-48%

Key Initiatives

• Continuously monitoring and managing asset quality by and implementing early warning system across the network

• Diversifying sources of funding: Rp300B MTNs issued in Apr’ 6 with a COF of 7.8% - 8.5% and with a guarantee from CGIF.

864

826

9M15

9M16

20

7

9M15

9M16

+30%

-4%

-62%

17

MPM

INSURANCE

:

INCREASE PENETRATION GROUP & NON-GROUP BUSINESSES

Gross Premium

(In Billion Rupiah, YoY%)

31 35

FY14

FY15

TTM

+95%

NPAT

(In Billion Rupiah, YoY%)

9M16 Highlights

275

9M15

9M16

183

• Gross premium rise by Rp 92B as at 30 September 2016 (+50% YoY) driven by solid growth in most premium categories including MV, Fire, Marine Cargo and Others (Engineering Business).

• 18% higher NPAT as at 9M16 as compared to same period last year is mainly due to higher net underwriting income and net investment income.

259

16

+36%

Key Initiatives

• Increasing market penetration in MPM Group businesses as well as non-group businesses.

+75%

259

FY14

FY15

TTM

+96%

148

28

9M15

9M16

24

+50%

+18%

351

18

KEY MESSAGES

MPM Updates

Leading End-to-End Consumer Automotive Company in Indonesia

1Q14 Summary & Business Segments Performance

Stable 2W business despite natural disasters, Strong 4W business growth

1Q14 Summary & Business Segments Performance

Stable 2W business despite natural disasters, Strong 4W business growth

9M16 Business Segments Performance

Positive Growth in all Business Segments

9M16 Summary

- +9% YoY Revenue Growth

- -13% YoY NPATMI Growth

KEY METRICS

FY15 9M16 9M15 YoY (%) 1Q16 2Q16 3Q16 QoQ (%) Profit & Loss (IDR Billion)

Net Revenue 16,640 13,193 12,133 8.7% 4,143 4,739 4,310 -9.1% Gross Profit 2,299 1,876 1,721 9.0% 601 664 611 -7.9%

GP Margins 13.8% 14.2% 14.2% 14.5% 14.0% 14.2%

Operating Expenses Without Provision (1,444) (1,084) (1,023) 5.9% (357) (377) (349) -7.5% Provision (318) (282) (196) 43.6% (89) (93) (100) 7.0% Other Income (Expenses) 175 109 176 -38.1% 10 43 55 27.5%

Operating Profit 713 619 677 -8.6% 165 237 218 -8.0%

OP Margins 4.3% 4.7% 5.6% 4.0% 5.0% 5.0%

NPAT 308 304 351 -13.4% 73 115 115 0.1%

NPAT Margin 1.8% 2.3% 2.9% 1.8% 2.4% 2.7%

0.00

(0.00)

EBITDA 1,160 935 1,006 -7.1% 269 338 328 -2.8%

EBITDA Margin 7.0% 7.1% 8.3% 6.5% 7.1% 7.6%

Balance Sheet (IDR Billion)

Cash 1,484 1,311 1,452 -11.6% 1,511 1,739 1,311 -24.6% Total Assets 14,480 14,611 14,604 0.9% 14,538 15,156 14,611 -3.6% Bank Funding 4,338 3,667 4,391 -15.5% 3,984 4,227 3,667 -13.3% Notes Payable - 302 - 100.0% 140 302 302 0.0% Bonds 2,754 2,560 2,872 -7.0% 2,609 2,638 2,560 -2.9% BV of Equity 5,340 5,777 5,221 8.2% 5,500 5,600 5,777 3.2%

Ratios:

Net Debt/Equity 1.1x 0.9x 1.1x -14.0% 0.9x 1.0x 0.9x -6.8% ROA 2.1% 2.8% 3.2% -13.4% 2.0% 3.0% 3.2% 3.8% Net Debt/EBITDA 4.8x 4.2x 4.3x -3.4% 4.9x 4.0x 4.0x -1.1% FCCR 3.6x 3.7x 3.2x 16.5% 3.6x 3.4x 4.2x 24.4%

CONSOLIDATED

KEY METRICS - CONSOLIDATED

* Using Annualized

20

9M16 Highlights

• Net revenue and gross profit experienced positive growth in 9M16 relative to 9M15 mainly due to our robust performance in 2W distributions and consumer parts.

• GP margin as at 9M16 is stable at 14.2% relative to 9M15 but slightly improved in comparison to FY15 figure.

• Moderate increase of 5.9% in OPEX excluding provision from 9M15 to 9M16.

• Lower other income as at 9M16 is due to exchange rate fluctuations and a one-off gain on disposal of asset as at 9M15.

• Provision has increased as at 9M16 since the financial services business has introduced automatic 4W provisioning starting in 1Q16.

• On a YoY consolidated basis, lower NPAT as at 9M16 than 9M15 is mainly driven by lower other income and higher provisioning as mentioned above.

* * * * * * * * * *

KEY METRICS

FY15 9M16 9M15 YoY (%) 1Q16 2Q16 3Q16 QoQ (%)

Profit & Loss (IDR Billion)

Net Revenue 15,471 12,316 11,251 9.5% 3,864 4,443 4,009 -9.8% Gross Profit 1,581 1,334 1,180 13.0% 427 484 423 -12.4%

GP Margins 10.2% 10.8% 10.5% 11.0% 10.9% 10.6%

Operating Expenses Without Provision (1,004) (795) (685) 16.1% (257) (286) (252) -11.9% Provision (58) (10) (3) 294.9% (4) (4) (3) -28.7% Other Income (Expenses) 143 73 149 -50.9% 4 30 39 26.9%

Operating Profit 662 602 642 -6.2% 170 224 207 -7.5%

OP Margins 4.3% 4.9% 5.7% 4.4% 5.0% 5.2%

NPAT 254 270 311 -13.2% 70 99 102 2.6%

NPAT Margin 1.6% 2.2% 2.8% 1.8% 2.2% 2.5%

903.97

958.63

EBITDA 1,093 904 959 -5.7% 268 323 314 -2.8%

EBITDA Margin 7.1% 7.3% 8.5% 6.9% 7.3% 7.8%

Balance Sheet (IDR Billion)

Cash 1,160 980 1,082 -15.5% 982 1,030 980 -4.9% Total Assets 9,787 9,539 9,652 -2.5% 9,743 9,942 9,539 -4.1% Bank Funding 936 458 744 -51.0% 736 840 458 -45.5% Bonds 2,754 2,560 2,872 -7.0% 2,609 2,638 2,560 -2.9% BV of Equity 4,399 4,783 4,292 8.7% 4,554 4,622 4,783 3.5%

Ratios:

Net Debt/Equity 0.6x 0.4x 0.6x -25.9% 0.5x 0.5x 0.4x -19.5% ROA 2.6% 3.8% 4.3% -12.2% 2.9% 4.0% 4.3% 7.0% Net Debt/EBITDA 2.3x 1.7x 2.0x -14.7% 2.2x 1.9x 1.6x -14.3% FCCR 3.4x 3.6x 3.1x 18.3% 3.6x 3.3x 4.1x 24.4%

NON-FINANCIAL SERVICES

KEY METRICS

–

NON FINANCIAL SERVICES

* Using Annualized

21

9M16 Highlights

• Net revenue and gross profit increased YoY (9.5% & 13% respectively) due to strong performance of our 2W distribution and consumer parts business.

• GP margin as at 9M16 is stable at 14.2% relative to 9M15 but slightly improved in comparison to FY15 figure.

• Moderate increase of 5.9% in OPEX excluding provision from 9M15 to 9M16.

• Lower other income as at 9M16 is due to exchange rate fluctuations and a one-off gain on disposal of asset as at 9M15

• Decrease in NPAT as at 9M16 than 9M15 is mainly driven by lower other income and higher provisioning as mentioned above. * * * * * * * * * *

KEY METRICS

FY15 9M16 9M15 YoY (%) 1Q16 2Q16 3Q16 QoQ (%)

Profit & Loss (IDR Billion)

Net Revenue 1,209 911 911 0.0% 291 309 311 0.6% Gross Profit 745 568 560 1.4% 183 190 195 2.7%

GP Margins 61.6% 62.4% 61.5% 62.9% 61.5% 62.8%

Operating Expenses Without Provision (472) (317) (362) -12.6% (110) (101) (105) 3.2% Provision (260) (272) (194) 40.3% (85) (90) (97) 8.5% Other Income (Expenses) 37 38 31 21.4% 9 12 17 44.0% Operating Profit 51 17 35 -51.3% (3) 11 10 -5.6%

OP Margins 4.2% 1.9% 3.9% -1.2% 3.5% 3.2%

NPAT 54 34 40 -14.6% 4 16 14 -15.4%

NPAT Margin 4.4% 3.7% 4.3% 1.3% 5.3% 4.4%

30.65

47.31

EBITDA 67 31 47 -35.2% 1 15 15 -3.3%

EBITDA Margin 5.5% 3.4% 5.2% 0.3% 4.9% 4.7%

Balance Sheet (IDR Billion)

Cash 324 331 370 2.2% 529 709 331 -53.3% Total Assets 5,674 6,017 5,903 6.0% 5,727 6,164 6,017 -2.4% Bank Funding 3,402 3,209 3,647 -5.7% 3,248 3,387 3,209 -5.3% Notes Payable - 302 - 100.0% 140 302 302 0.0% BV of Equity 1,855 1,908 1,843 2.9% 1,860 1,892 1,908 0.9% Ratios:

Net Debt/Equity 1.7x 1.7x 1.8x 0.4% 1.5x 1.6x 1.7x 5.8%

ROA 0.9% 0.7% 0.9% -16.2% 0.3% 1.1% 0.9% -13.3%

FINANCIAL SERVICES

KEY METRICS

–

FINANCIAL SERVICES

* Using Annualized

22

9M16 Highlights

• Net revenue remains the same YoY while there is a slight increase in gross profit due to our selective consumer financing business as part of our initiative to grow healthier portfolio of assets.

• GP margin as at 9M16 is higher in comparison to 9M15 as well as FY15 figure.

• Decrease in OPEX excluding provision from 9M15 to 9M16.

• Provision has increased as at 9M16 since the financial services business has introduced automatic 4W provisioning starting in 1Q16.

• Lower NPAT as at 9M16 than 9M15 is mainly driven by the introduction of the automatic provisioning as mentioned above.

*

Disclaimer

•

These materials have been prepared by PT Mitra Pinasthika Mustika Tbk (the

Co pa

,

MPM )

and have not been

independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the

accuracy, fairness or completeness of the information presented or contained in these materials. The Company or any of its

affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever arising from any information

presented or contained in these materials. The information presented or contained in these materials is subject to change

without notice and its accuracy is not guaranteed.

•

These materials may contain statements that constitute forward-looking statements. These statements include descriptions

regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of

operations and financial condition of the Company. These statements can be recognized by the use of words such as

e pe ts,

pla ,

will,

esti ates,

proje ts,

i te ds,

or words of similar meaning. Such forward-looking statements are not

guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the

forward-looking statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to

revise forward-looking statements to reflect future events or circumstances.

•

These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any

offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of,

or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to

purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice.

MPM

INSURANCE

:

INCREASE PENETRATION GROUP & NON-GROUP BUSINESSES

Gross Premium

(In Billion Rupiah, YoY%)

31 35

FY14

FY15

TTM

+95%

NPAT

(In Billion Rupiah, YoY%)

9M16 Highlights

275

9M15

9M16

183

• Gross premium rise by Rp 92B as at 30 September 2016 (+50% YoY) driven by solid growth in most premium categories including MV, Fire, Marine Cargo and Others (Engineering Business).

• 18% higher NPAT as at 9M16 as compared to same period last year is mainly due to higher net underwriting income and net investment income.

259

16

+36%

Key Initiatives

• Increasing market penetration in MPM Group businesses as well as non-group businesses.

+75%

259

FY14

FY15

TTM

+96%

148

28

9M15

9M16

24

+50%

+18%

351

18

KEY MESSAGES

MPM Updates

Leading End-to-End Consumer Automotive Company in Indonesia

1Q14 Summary & Business Segments Performance

Stable 2W business despite natural disasters, Strong 4W business growth

1Q14 Summary & Business Segments Performance

Stable 2W business despite natural disasters, Strong 4W business growth

9M16 Business Segments Performance

Positive Growth in all Business Segments

9M16 Summary

- +9% YoY Revenue Growth

- -13% YoY NPATMI Growth

KEY METRICS

FY15 9M16 9M15 YoY (%) 1Q16 2Q16 3Q16 QoQ (%) Profit & Loss (IDR Billion)

Net Revenue 16,640 13,193 12,133 8.7% 4,143 4,739 4,310 -9.1% Gross Profit 2,299 1,876 1,721 9.0% 601 664 611 -7.9%

GP Margins 13.8% 14.2% 14.2% 14.5% 14.0% 14.2%

Operating Expenses Without Provision (1,444) (1,084) (1,023) 5.9% (357) (377) (349) -7.5% Provision (318) (282) (196) 43.6% (89) (93) (100) 7.0% Other Income (Expenses) 175 109 176 -38.1% 10 43 55 27.5%

Operating Profit 713 619 677 -8.6% 165 237 218 -8.0%

OP Margins 4.3% 4.7% 5.6% 4.0% 5.0% 5.0%

NPAT 308 304 351 -13.4% 73 115 115 0.1%

NPAT Margin 1.8% 2.3% 2.9% 1.8% 2.4% 2.7%

0.00

(0.00)

EBITDA 1,160 935 1,006 -7.1% 269 338 328 -2.8%

EBITDA Margin 7.0% 7.1% 8.3% 6.5% 7.1% 7.6%

Balance Sheet (IDR Billion)

Cash 1,484 1,311 1,452 -11.6% 1,511 1,739 1,311 -24.6% Total Assets 14,480 14,611 14,604 0.9% 14,538 15,156 14,611 -3.6% Bank Funding 4,338 3,667 4,391 -15.5% 3,984 4,227 3,667 -13.3% Notes Payable - 302 - 100.0% 140 302 302 0.0% Bonds 2,754 2,560 2,872 -7.0% 2,609 2,638 2,560 -2.9% BV of Equity 5,340 5,777 5,221 8.2% 5,500 5,600 5,777 3.2%

Ratios:

Net Debt/Equity 1.1x 0.9x 1.1x -14.0% 0.9x 1.0x 0.9x -6.8% ROA 2.1% 2.8% 3.2% -13.4% 2.0% 3.0% 3.2% 3.8% Net Debt/EBITDA 4.8x 4.2x 4.3x -3.4% 4.9x 4.0x 4.0x -1.1% FCCR 3.6x 3.7x 3.2x 16.5% 3.6x 3.4x 4.2x 24.4%

CONSOLIDATED

KEY METRICS - CONSOLIDATED

* Using Annualized

20

9M16 Highlights

• Net revenue and gross profit experienced positive growth in 9M16 relative to 9M15 mainly due to our robust performance in 2W distributions and consumer parts.

• GP margin as at 9M16 is stable at 14.2% relative to 9M15 but slightly improved in comparison to FY15 figure.

• Moderate increase of 5.9% in OPEX excluding provision from 9M15 to 9M16.

• Lower other income as at 9M16 is due to exchange rate fluctuations and a one-off gain on disposal of asset as at 9M15.

• Provision has increased as at 9M16 since the financial services

business has introduced

automatic 4W provisioning starting in 1Q16.

• On a YoY consolidated basis, lower NPAT as at 9M16 than 9M15 is mainly driven by lower

other income and higher

provisioning as mentioned above. * * * * * * * * * *

KEY METRICS

FY15 9M16 9M15 YoY (%) 1Q16 2Q16 3Q16 QoQ (%) Profit & Loss (IDR Billion)

Net Revenue 15,471 12,316 11,251 9.5% 3,864 4,443 4,009 -9.8% Gross Profit 1,581 1,334 1,180 13.0% 427 484 423 -12.4%

GP Margins 10.2% 10.8% 10.5% 11.0% 10.9% 10.6%

Operating Expenses Without Provision (1,004) (795) (685) 16.1% (257) (286) (252) -11.9% Provision (58) (10) (3) 294.9% (4) (4) (3) -28.7% Other Income (Expenses) 143 73 149 -50.9% 4 30 39 26.9%

Operating Profit 662 602 642 -6.2% 170 224 207 -7.5%

OP Margins 4.3% 4.9% 5.7% 4.4% 5.0% 5.2%

NPAT 254 270 311 -13.2% 70 99 102 2.6%

NPAT Margin 1.6% 2.2% 2.8% 1.8% 2.2% 2.5%

903.97

958.63

EBITDA 1,093 904 959 -5.7% 268 323 314 -2.8%

EBITDA Margin 7.1% 7.3% 8.5% 6.9% 7.3% 7.8%

Balance Sheet (IDR Billion)

Cash 1,160 980 1,082 -15.5% 982 1,030 980 -4.9% Total Assets 9,787 9,539 9,652 -2.5% 9,743 9,942 9,539 -4.1% Bank Funding 936 458 744 -51.0% 736 840 458 -45.5% Bonds 2,754 2,560 2,872 -7.0% 2,609 2,638 2,560 -2.9% BV of Equity 4,399 4,783 4,292 8.7% 4,554 4,622 4,783 3.5%

Ratios:

Net Debt/Equity 0.6x 0.4x 0.6x -25.9% 0.5x 0.5x 0.4x -19.5% ROA 2.6% 3.8% 4.3% -12.2% 2.9% 4.0% 4.3% 7.0% Net Debt/EBITDA 2.3x 1.7x 2.0x -14.7% 2.2x 1.9x 1.6x -14.3% FCCR 3.4x 3.6x 3.1x 18.3% 3.6x 3.3x 4.1x 24.4%

NON-FINANCIAL SERVICES

KEY METRICS

–

NON FINANCIAL SERVICES

9M16 Highlights

• Net revenue and gross profit increased YoY (9.5% & 13% respectively) due to strong

performance of our 2W

distribution and consumer parts business.

• GP margin as at 9M16 is stable at 14.2% relative to 9M15 but slightly improved in comparison to FY15 figure.

• Moderate increase of 5.9% in OPEX excluding provision from 9M15 to 9M16.

• Lower other income as at 9M16 is due to exchange rate fluctuations and a one-off gain on disposal of asset as at 9M15 • Decrease in NPAT as at 9M16

than 9M15 is mainly driven by lower other income and higher provisioning as mentioned above.

* *

* *

* *

* *

* *

KEY METRICS

FY15 9M16 9M15 YoY (%) 1Q16 2Q16 3Q16 QoQ (%) Profit & Loss (IDR Billion)

Net Revenue 1,209 911 911 0.0% 291 309 311 0.6% Gross Profit 745 568 560 1.4% 183 190 195 2.7%

GP Margins 61.6% 62.4% 61.5% 62.9% 61.5% 62.8%

Operating Expenses Without Provision (472) (317) (362) -12.6% (110) (101) (105) 3.2% Provision (260) (272) (194) 40.3% (85) (90) (97) 8.5% Other Income (Expenses) 37 38 31 21.4% 9 12 17 44.0%

Operating Profit 51 17 35 -51.3% (3) 11 10 -5.6% OP Margins 4.2% 1.9% 3.9% -1.2% 3.5% 3.2%

NPAT 54 34 40 -14.6% 4 16 14 -15.4% NPAT Margin 4.4% 3.7% 4.3% 1.3% 5.3% 4.4%

30.65

47.31

EBITDA 67 31 47 -35.2% 1 15 15 -3.3% EBITDA Margin 5.5% 3.4% 5.2% 0.3% 4.9% 4.7%

Balance Sheet (IDR Billion)

Cash 324 331 370 2.2% 529 709 331 -53.3% Total Assets 5,674 6,017 5,903 6.0% 5,727 6,164 6,017 -2.4% Bank Funding 3,402 3,209 3,647 -5.7% 3,248 3,387 3,209 -5.3% Notes Payable - 302 - 100.0% 140 302 302 0.0% BV of Equity 1,855 1,908 1,843 2.9% 1,860 1,892 1,908 0.9%

Ratios:

Net Debt/Equity 1.7x 1.7x 1.8x 0.4% 1.5x 1.6x 1.7x 5.8%

ROA 0.9% 0.7% 0.9% -16.2% 0.3% 1.1% 0.9% -13.3%

FINANCIAL SERVICES

KEY METRICS

–

FINANCIAL SERVICES

* Using Annualized

22

9M16 Highlights

• Net revenue remains the same YoY while there is a slight increase in gross profit due to our selective consumer financing business as part of our initiative to grow healthier portfolio of assets.

• GP margin as at 9M16 is higher in comparison to 9M15 as well as FY15 figure.

• Decrease in OPEX excluding provision from 9M15 to 9M16. • Provision has increased as at

9M16 since the financial services

business has introduced

automatic 4W provisioning starting in 1Q16.

• Lower NPAT as at 9M16 than 9M15 is mainly driven by the introduction of the automatic provisioning as mentioned above.

*

Disclaimer

•

These materials have been prepared by PT Mitra Pinasthika Mustika Tbk (the

Co pa

,

MPM )

and have not been

independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the

accuracy, fairness or completeness of the information presented or contained in these materials. The Company or any of its

affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever arising from any information

presented or contained in these materials. The information presented or contained in these materials is subject to change

without notice and its accuracy is not guaranteed.

•

These materials may contain statements that constitute forward-looking statements. These statements include descriptions

regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of

operations and financial condition of the Company. These statements can be recognized by the use of words such as

e pe ts,

pla ,

will,

esti ates,

proje ts,

i te ds,

or words of similar meaning. Such forward-looking statements are not

guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the

forward-looking statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to

revise forward-looking statements to reflect future events or circumstances.

•

These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any

offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of,

or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to

purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice.