The document provides an overview of Indonesia's cement industry, including production capacity and market share of major cement companies. It also discusses trends in domestic cement consumption growth, which has been driven by national economic growth and increasing infrastructure expansion. The cement industry is projected to continue growing to meet rising domestic demand and increase Indonesia's currently low per capita cement consumption.

1. Together We Build a Better Future 0

2. INDONESIA’S CEMENT INDUSTRY: NOW and THE FUTURE
SMGR Corporate Presentation
APRIL 2014

3. Singapore
Kuala
Lumpur
SMGR
2
1
3
4
5
1
1
6
7
CEMENT INDUSTRY AT A GLANCE
2
1. SEMEN INDONESIA 29.5 mn ton
- Semen Padang : 7.3 mn ton
- Semen Gresik : 14.4 mn ton
- Semen Tonasa: 7.8 mn ton
2. Semen Andalas 2) 1.6 mn ton
3. Semen Baturaja 1.3 mn ton
4. Indocement TP 20.5 mn ton
5. Holcim Indonesia 12.1 mn ton
6. Semen Bosowa 6.0 mn ton
7. Semen Kupang 0.5 mn ton
TOTAL 71.5 mn ton
• Design Capacity : 68.0 mio tons 71.5 mio tons 82.2 mio tons
• Production Capacity : 55.2 mio tons 60.0 mio tons 69.8 mio tons
• Domestic Growth : 5.5% 6.0% 6.0%
• Domestic Utilization : 99% 99% 95%
•Supply
 Domestic : 58.0 mio tons 61.0 mio tons 65.8 mio tons
 Export : 0.5 mio tons 0.5 mio tons 0.5 mio tons
 Import : 3.3 mio tons2) 3.0 mio tons 3) 3.0 mio tons3)
1) Based on the Company’s forecast
2) Imported cement by PT Semen Andalas (1.0 mio ton) and clinker by Bosawa and Kupang
3) Imported cement & clinker
DOMESTIC CAPACITY (2014)
CEMENT INDUSTRY 2013 2014F 1) 2015F 1)

4. No Company Targeted Plant
Location
Declared Capacity
(mn tons)
Prognose Design
Capacity (mn tons)
Investment
(US$ mn)
Remarks + Local Partner
1 Siam Cement (Thailand) West Java 1.8 1.8 360 Greenfield, Sukabumi
2 CNBM (China) Central Java 2.4 0 350 Greenfield, Semen Grobogan
3 Semen Merah Putih Banten 11.5 3.0 n.a Greenfield (PT Cemindo Gemilg)
4
Anhui Conch Cement
(China)
- Tanjung
- Tanah Grogot
- Pontianak
- West Papua
Various
- South Kalimantan
- East Kalimantan
- West Kalimantan
- West Papua
13.7
3.8
3.8
3.8
2.4
3.0
2,350
400
600
600
750
Greenfield
Greenfield
Greenfield
Greenfield
Greenfield
5 Ultratech Wonogiri, Centr Java 4.5 0 827 Greenfield
6 Semen Puger East Java 0.6 0 n.a Upgrading
7 Semen Barru South Sulawesi 3.3 0 470 Greenfield (South Sulawesi)
8 Semen Panasia Central Java 2.0 1.5 240 Greenfield (Banyumas)
9 Jui Shin Indonesia West Java 1.5 1.5 n.a Greenfield (Karawang)
T O T A L 40.3 10.8 4,470
New Cement Capacity from Existing Players (2013 – 2017)
No Company Targeted Plant
Location
Declared Capacity
(mn tons)
Prognose Design Capacity
(mn tons)
Investment
(US$ mn)
Remarks
1
Semen
Indonesia
Java, Sumatera,
Sulawesi
11.5 9.0 970
Upgrading +
green/brownfield
2 Indocement Java, Kalimantan 8.8 6.3 1,560 (E)
Cement Mill +
brown/greenfield
3 Holcim East Java 3.8 3.4 680 (E) Brown/Greenfield
4 Bosowa Java, Sulawesi 7.9 3.4 620 Cement Mill + Brownfield
5 Semen Andalas Sumatera 1.6 0 300 Greenfield
6 Semen Baturaja Sumatera 2.6 1.5 325 Greenfield/Brownfield
T O T A L 36.2 23.6 4,130
ADDITIONAL INSTALLED CAPACITY IN THE NEXT 5 YEARS

5. Source: Deutsche, Indonesia Cement Association
229
kg
0
200
400
600
800
1.000
1.200
1.400
1.600
1.800 China
Singapore
M
alaysia
Vietnam
Thailand
Indonesia
Philippines
India
kg/capita
COMPARISON: CEMENT CONSUMPTION PER CAPITA 2013

6. INDONESIA’S ECONOMY AND DOMESTIC CEMENT CONSUMPTION GROWTH
Source: Indonesian Cement Association & BPS Statistic
Growth
:
1.1%
Growth
:
9.7%
Growth
:
4.2%
Growth
:
1.8%
Growth
:
6.6%
Growth
:
5.8%
Growth
:
19.4%
Domestic consumption (LHS) GDP growth % (RHS)
(mio tons)
40,8
48,0
54,9
58,0
14,0
39,1
27,2 27,5
30,2
31,5 32,1
34,2
38,1
6,10% 6,00%
5,70%
6,80%
5,6%
4,7%
5,1%
5,4%
4,4%
6.3%
6.1%
4.60%
6,50%
3.5%
5,5%
14,5%
6.0%
11.5%
4.2%
9.7%
2.5%
6.6%
1.8%1.1%
5.8%
17.7%
0,0
10,0
20,0
30,0
40,0
50,0
60,0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 3M2014
0,0%
10,0%
20,0%
Cement growth % (RHS)

7. 0
5
10
15
20
25
30
35
40
45
1997 1999 2001 2003 2005 2007 2009 2011 2013
21,0
18,1
16,9
20,0
22,7 23,7 23,7
25,2
25,5
26,9
28,2
32,2
32,8
34,2
39,2
44,1
45,7
6,5
1,0 1,9
2,3 3,0 3,5 3,8
5,0
6,0
5,1
6,0 5,9 6,2
6,6
8,8
10,8
12,2
Bagged Cement Bulk Cement
Bag and Bulk cement consumption (million tons)
Source: Indonesia Cement Association and the Company’s data
ARISING INFRASTRUCTURE EXPANSION TREND

8. Retail (residential) sector is the largest
consumer of cement in Indonesia
Bag
79%
Bulk
21%
Key Drivers of Domestic cement demand:
• National Economic Growth
• Favorable Interest Rate Environment
• Infrastructure Expansion
• Per Capita Consumption increase from
current low levels
• Ready-mix (infrastructure): ± 60%
• Fabricator (pre-cast, fiber cement, cement based industry): ± 35%
• Projects (mortar, render): ± 5%
• Housing: ± 90%
• Cement based industry: ± 10%
±
±
Source: Internal Research
DOMESTIC MARKET CONSUMPTION (2013)

9. Infrastructure Project in Corridor #1 (Trans Sumatera)
SOURCES : DIREKTORAT JENDERAL BINA MARGA
Bakaheuni - Indralaya
Indralaya - Pekanbaru
Pekanbaru - Medan
Medan - Aceh
Development Phases:
Phase I (2015-2020)
- Bakauheni-Indralaya
- Pekanbaru-Medan
Phase II (2020-2025)
- Indralaya-Pekanbaru
- Medan-Banda Aceh
- Tebing Tinggi-Sibolga
Phase III (>2025)
- Pekanbaru-Padang
- Palembang-BengkuluSEMEN ANADALAS
SEMEN BATURAJA
SEMEN PADANG
PACKING PLANT
5
1
2
3
4
1 Malahayati
2 Lhokseumawe
3 Medan
4 Batam
5 Dumai
Grinding Plant Dumai
Grinding Plant Lampung1
Grinding Plant Palembang2
1
2

10. MARKET UPDATE
SMGR Corporate Presentation
APRIL 2014

11. MARKET AND MARKET SHARE BY GEOGRAPHY
Papua
Bali & N T
Sulawesi
Kalimantan
Population Distribution (2012)
Sumatera
21.3% Java
57.5.%
8.4%
5.8%
5.5% 1.5%
REGION
MARKET SHARE (%)
SMGR INTP SMCB BSWA ANDLS BTRJA KPG
1. JAVA 41.1 38.0 18.4 2.0 - - -
2. SUMATERA 42.3 13.6 13.6 3.0 17.0 10.0 -
3. KALIMANTAN 48.4 30.9 11.9 9.0 - - -
4. SULAWESI 62.5 15.1 1.0 21.0 - - -
5. NUSA TENGGR. 40.2 35.1 3.7 16.4 - - 5.0
6. EASTERN IND. 55.9 19.5 0.6 24.0 - -
TOTAL
INDONESIA
43.8 29.9 14.3 5.8 3.5 2.2 0.3



SG
SP
ST
1
2
34
5
6
21.1%
8.0
7.3%
6.2 2.3%
Java
55.0%
Sumatera
Cement Distribution (3M2014)
Domestic Market Share (3M2014)

12. MARKET UPDATE - Cement Consumption 3M2014
*) Source: Indonesia Cement Association, un-audited figures
AREA 3M 2014 3M 2013 CHANGE (%)
Jakarta 1,332,130 1,277,629 4.3
Banten 720,425 815,965 (11.7)
West Java 2,151,859 1,916,588 12.3
Central Java 1,455,072 1,489,557 (2.3)
Yogyakarta 225,077 215,851 3.8
East Java 1,857,414 1,704,252 9.0
Total Java 7,740,977 7,419,842 4.3
Sumatera 2,974,672 2,933,155 1.4
Kalimantan 1,125,635 1,081,493 4.1
Sulawesi 1,031,516 936,063 10.2
Nusa Tenggara 878,305 846,884 3.7
Maluku & Papua 324,938 358,583 (9.4)
TOTAL
INDONESIA
14,076,043 13,576,020 3.7
Export Cement 14,955 36,150 (58.6)
Export Clinker - - -
Total Export 14,955 36,150 (58.6)
GRAND TOTAL 14.090,998 13,612,170 3.5
3M 2014 – Domestic Consumption (mio tons)
DESCRIPTION 3M-14 3M-13 CHANGE (%)
DOMESTIC 6,163,140 5,952,091 3.5
Semen Indonesia 3,291,334 3,086,244 6.6
Semen Padang 1,610,926 1,675,494 (3.9)
Semen Tonasa 1,260,880 772,954 5.9
EXPORT 14,955 27,350 (45.3)
GRAND TOTAL 6,178,095 5,979,441 3.3
Industry Sales Type (mio tons)
3M-14 3M-13 YoY Change
Bag 7.26 (79.4%) 10.8 (79.1%) 0.3%
Bulk 1.89 (20.6%) 2.7 (20.1%) 4.5%
3M 2014 - SMGR Sales Volume (million tons)
SMGR Sales Type (mio tons)
3M-14 3M-13 YoY Change
Bag 3.05 (76.1%) 3.08 (78.1%) 1.0%
Bulk 0.96 (23.9%) 0.86 (21.9%) 11.2%

13. COMPANY PROFILE
SMGR Corporate Presentation
APRIL 2014

14.  1957 : Inauguration of Gresik I, installed capacity of 250,000 ton cement per annum
 1991 : Initial Public Offering, Market Cap.: IDR0.63tn, resulting shareholding structure post IPO:
● Government of Republic of Indonesia: 73%
● Public: 27%
 1995 : Acquisition of PT Semen Padang (Persero) and PT Semen Tonasa (Persero)
 1998 : Cemex became a strategic partner, Market Cap.: IDR4.9tn
 2006 : Blue Valley Holdings bought Cemex’s 24.9% stake in SMGR, Market Cap.: IDR21.5tn
 2010 : In March 31, Blue Valley Holdings sold all of its stake ownership in SMGR, Market Cap per April 30, 2010: IDR72.1tn
 2011 : Total installed capacity of 20.00mm tons, Market Cap per June 29, 2012: IDR67.0tn
 2012 : Acquisition of Thang Long Cement Vietnam, Total installed capacity of 2.3mm tons, Market Cap Dec 19th, 2012: IDR91.9tn
BRIEF HISTORY
0,0
5,0
10,0
15,0
20,0
25,0
30,0
1957
-1970
-1980
-198419851986
-1990
-199519971998
-20062007200820092010201120122013
SMGR CAPACITY BUILD-OUT (Mio TONS)
Pre-consolidated capacity
Post-consolidated capacity
_ _ _ _ _ _
SMGR IS THE #1 CEMENT COMPANY IN INDONESIA
• Total Installed capacity: 30 million
tons (2013) including TLCC;
• Market share of Semen Indonesia in
2013 was 44% based on sales volume
• 2013 Revenues amounted to IDR 19.6
trillion (equivalent to EUR 1.2 billion),
with EBITDA margin of 35%

15. PublicThe Government of the Republic of Indonesia
PT Semen Indonesia (Persero) Tbk.
PT Semen Padang PT Semen Tonasa
OWNERSHIP STRUCTURE1
¹ As of Jan, 2014
51.01% 48.99%
99.99% 99.99%
Name Activities % Ownership
1. Igasar Cement distribution & Trading 12.00%
2. Sepatim B General trading, cement packaging 85.00%
3. Bima SA General trading, cement packaging 80.00%
4. SUPS Cement Packaging 10.00%
Name Activities % Ownership
1. UTSG Limestone & Clay Mining 55.00%
2. IKSG Cement Packaging 60.00%
3. KIG Industrial Estate
65.00%
4. Swadaya Gra Steel fabrication, contractor 25.00%
5. Varia Usaha Transport and general trading 24.90%
6. Eternit Gresik Building materials 17.60%
7. SGG Prima Coal Trading Coal 99.99%
8. SGG Prima Beton Ready Mix Concrete 99.99%
Thang Long Cement, VN
70.00%
Name Activities % Ownership
1. UTSG Limestone & Clay Mining 55.00%
2. IKSG Packaging Paper 60.00%
3. KIG Industrial Estate 65.00%
4. Swadaya Graha Contractor & Machine Fabricator 25.00%
5. Varia Usaha Transport and general trading 24.90%
6. Eternit Gresik Building materials 17.60%
7. SGG Energy Prima Coal Mining and Trading 97.00%
8. SGG Prima Beton Ready Mix Concrete 99.99%
FOCUSES IN CORE BUSINESS
PT Semen Gresik

16. Integrated Cement Plant 4 location
Kiln 13 Unit
Cement Mill 22 Unit
Grinding Plant 2 location
Cement Mill 4 Unit
Warehouse 30 location
Packing Plant 22 location
Sea Port 11 location
Kiln 1 unit
Cement
Mill
1 unit
Kiln 4 unit
Cement
Mill
6 unit
Kiln 4 unit
Cement
Mill
9 unit
Grinding
Plant
1 unit Cement
Mill
Kiln 4 unit
Cement
Mill
6 unitGrinding
Plant
3 unit Cement
Mill
Competitiveness of Semen Indonesia

17. FINANCIAL UPDATE
SMGR Corporate Presentation
APRIL 2014

18. EBITDA (Rp billion)
NET INCOME (Rp billion)
EBITDA Margin (%)
9M-09 9M-10 9M-11 9M-12 9M-13
32.5% 34.5% 32.8% 34.6% 33.6%
NET INCOME Margin (%)
Description
(Rpbn)
9M-2012 9M-2013 Change
(%)
Revenue 13,677 17,391 27.2%
Cost of revenue
7,260 9,551 31.5%
Gross profit 6,407 7,840 22.4%
Operating
expenses
2,188 2,794 27.7%
Operating
income
4,275 5,104 19.4%
Ebitda 4,728 5,838 23.5%
Net Income 3,389 3,906 15.3%
EPS (full
amount)
571 659 15,3% 3,906
2,408 2,522 2,761
3,389
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
9M09 9M10 9M11 9M2012 9M2013
9M-09 9M-10 9M-11 9M-12 9M-13
23.1% 24.5% 23.8% 24.8% 22.5%
5,838
4,728
3,8053,5463,379
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
9M09 9M10 9M11 9M12 9M13
Ratio (%) Formula
9M
2012
9M
2013
Ebitda margin Ebitda / Revenue 34.6 33.6
Interest coverage (x)
Ebitda / Interest
expense
262.5 25.15
Cost ratio
[COGS + Opex] /
Revenue
69.1 71.0
Total debt to equity *)
Total debt / Total
equity
16.7 20.3
Total debt to asset *)
Total debt / Total
asset
12.1 14.5
*) Total debt calculated from interest bearing debt
FINANCIAL SUMMARY: 9M-2013 RESULTS

19. Cash balance (IDR bn) Total debt (IDR bn)
2,650
3,905 3,3173,6823,846
5,283
2008 2009 2010 2011 2012 9M2013
4,0123,850
251 199
686
1,871
2008 2009 2010 2011 2012 9M2013
* Include short term investment
Debt/EBITDA Return on Assets
0.06x
2.00x
0.35x
0.04x
0.14x
0.56x
2008 2009 2010 2011 2012
The projected adjusted debt/EBITDA of 2.0x to
maintain rating level from Moody’s Investors
Service.
18.2%
24.0%
25.8%
23.5% 20.1%
2008 2009 2010 2011 2012
STRONG BALANCE SHEET AND RETURNS

20. 50% 50% 55% 50% 45% 45%
50%
2007 2008 2009 2010 2011 2012 2013
Average: 50%
SMGR DIVIDEND PAY OUT RATIO IN THE LAST 7 YEARS
REGULAR DIVIDENDS
Key determinants of
dividend policy:
•Historical dividend payout
trends
•Comparison with peers
•Projected cash-flows
available for dividends
(after taking into account
potential expansionary
capex etc)
•Analyst and investor
expectations
REGULAR DIVIDEND PAYMENTS WITH ATTRACTIVE YIELD
887,7
1.261,7
1.829,5 1.816,7
1.962,7
2.181,3
2.416,6
0
500
1000
1500
2000
2500
3000
2007 2008 2009 2010 2011 2012 2013
Total Dividend Payout
Total
Dividend
(IDR billion)

21. COGM & COGS BREAKDOWN (FY-2013)

22. STRATEGIC PROJECTS
SMGR Corporate Presentation
APRIL 2014

23. SMGR LONG TERM STRATEGIC FOCUS
THE OVERALL
STRATEGY
COMBINES
6 CRITICAL
ELEMENTS
1. Undertake Capacity Growth
2. Manage Energy Security
3. Enhance Company Image
4. Move Closer To The Customer
5. Enable Corporate Growth
6. Manage Key Risks
SMIG

24. CEMENT PLANTS PROJECTS
Tuban’s view
Pyroprocessing Tonasa V
Jetty Extension Area
TubanTonasaTonasa
ESP Power Plant
These strategic projects will ensure sustainability of
the Company’s market leadership
Preheater Tuban IV
Raw Mill Dept. Tonasa V
New Plants
Location
Capacity
(mn tons)
Investment
(US$ mn)
Construction
Start Completed
Indarung VI-SumBar 3.0 352 2013 Q4-2015
Rembang-Java 2 3.0 403 2013 Q2-2016
TOTAL CAPEX 6.0 755

25. INSTALLED CAPACITY (Mio Ton)
17,1 18 19 19 20,2
25,3
30 31,8 33,3
39,3 40,8
2007 2008 2009 2010 2011 2012 2013 2014F 2015F 2016F 2017F
InstalledCapacity

26. UP GRADING CAPACITY PLAN
Year Plant
Design Capacity
(mio tons)
Est. Time
Operation
Location
2013 New Cement Mill 1.5 Q3 Tuban
2014 New Cement Mill 0.9 Q3 Dumai
Cement Mill 0.4 Q2 Gresik Plant B
2015 New Cement Mill 1.5 Q3 Tonasa
2015 New Cement Plant 3.0 Q4 Indarung
2016 New Cement Plant 3.0 Q2 Rembang
2017 New Cement Plant - - Domestic Area

27. CONCLUSION: WHY SMGR?
SMGR Corporate Presentation
APRIL 2014

28. Outstanding
performance
Experienced
management
team
Conservative
capital
structure and
financial
policies
Robust cash flow
generation
Outstanding
business
performance
Favorable
industry
outlook
 Outstanding business performance
– Leading cement player in Indonesia with over 43.8% market share based on
sales volume for 10M-2013 and approximately 41% share of total installed
cement capacity (Source: Indonesia Cement Association (“ASI”))
– Strategically plants location is close to key markets throughout the country
– As of Dec 2012, acquired Thang Long Cement Company, Vietnam by 70%
share with installed capacity 2.3 mio tons per annum
– Substantial growth opportunities through expansion and optimization
– Superior distribution network and strong brands recognition
– Long-term access to raw materials for cement production and coal for fuel
consumption
– Concerns on environmental and Corporate Social Responsibility programs to
ensure sustainable growth.
 Favourable industry outlook
– Cement consumption pretty much in-line with Indonesian economic growth
– Real estate and infrastructure projects and declining interest rates key
demand drivers
– High barriers to entry (plant, distribution and brand investment costs)
– Disciplined investment on supply side
 Robust cash flow generation
– Historically strong revenue, margin and price trends
– High plant utilization and strong focus on cost and revenue management
 Conservative capital structure and financial policies
– [Investment grade-like credit metrics]
– Conservative capital structure policy; low use of leverage
– Access to capital markets for expansion initiatives
 Experienced management team
– Experienced and successful management team
Strengths of SMGR
SMGR’s COMPARATIVE & COMPETITIVE ADVANTAGE DRIVES
SMGR TO BE THE MARKET LEADER IN INDONESIA

29. Gresik Office:
Semen Indonesia Tower
Jln. Veteran
Gresik 61122 – Indonesia
Phone: (62-31) 3981731 -2, 3981745
Fax: (62-31) 3983209, 3972264
Jakarta Office:
The East Building, 18th Floor,
Jln. DR. Ide Anak Agung Gde Agung Kav. E3.2 No.1,
Mega Kuningan, Jakarta 12950 – Indonesia
Phone : (62-21) 5261174 – 5
Fax : (62-21) 5261176
www.semenindonesia.com
IMPORTANT NOTICE
THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFER FOR SALE OR SUBSCRIPTION OF OR SOLICITATION,
RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN
CONNECTION WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER.
THE SLIDES USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY. THE INFORMATION CONTAINED IN
THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR IN
PART.
This presentation includes forward-looking statements, which are based on current expectations and forecast about future events. Such statements involve known / unknown risks uncertainties
and other factors, which could cause actual results to differ materially from historical results or those anticipated. Such factors include, among others:
● economic, social and political conditions in Indonesia, and the impact such conditions have on construction and infrastructure spending in Indonesia;
● the effects of competition;
● the effects of changes in laws, regulations, taxation or accounting standards or practices;
● acquisitions, divestitures and various business opportunities that we may pursue;
● changes or volatility in inflation, interest rates and foreign exchange rates;
● accidents, natural disasters or outbreaks of infectious diseases, such as avian influenza, in our markets;
● labor unrest or other similar situations; and
● the outcome of pending or threatened litigation.
We can give no assurance that our expectations will be attained.
DISCLAIMER
The information contained in this report has been taken from sources which we deem reliable. However, none of PT Semen Indonesia (Persero) Tbk and/or its affiliated companies and/or their
respective employees and/or agents make any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the
information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof.
We expressly disclaim any responsibility or liability (express or implied) of PT Semen Indonesia (Persero) Tbk, its affiliated companies and their respective employees and agents whatsoever
and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a
result of acting in reliance upon the whole or any part of the contents of this report and neither PT Semen Indonesia (Persero) Tbk, its affiliated companies or their respective employees or
agents accepts liability for any errors, omission or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission therefrom
which might otherwise arise is hereby expresses disclaimed.
THANK YOU