“To Become A

World-class
Plantation Company”

Investor Update
January 2018
DISCLAIMER
NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION
OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.

The information that follows is a presentation of certain information about PT Sawit Sumbermas Sarana Tbk. (“SSMS” ), its parent, PT Citra Borneo Indah (“CBI”), and their respective
subsidiaries (together, the “Group”) prepared by SSMS and CBI. The information contained herein (including, among others, the market data, industry data and other industry statistics
included in this presentation derived from public or third party sources) has not been independently verified and thus no representation or warranty, express or implied, is made as to the
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2
Table of Contents

01 Introduction

02 Business Overview

03 Key Credit Highlights

04 Operational Analysis

05 Financial Analysis

06 Appendix

3
01. Introduction
 Sawit Sumbermas Sarana – Fast Growing Palm Oil Plantation Company in Indonesia
COMPANY OVERVIEW SHAREHOLDING STRUCTURE1

• Founded in 1995, SSMS is a fast growing Central Kalimantan- Citra Borneo Group (68.88%)
based palm oil plantation company with young maturity profiles 58.48% 8.13% 2.27% 31.12%
(8.0 years) and strong yields PT. Citra PT. Putra
Jemmy
Borneo Indah Borneo Agro Public
Adriyanor
• SSMS has 95,770 Ha of prime land under management, with (CBI) Lestari
most areas having mineral soil characteristics, flat terrain, as
well as land permits / land rights, and are strategically located to
key infrastructure
81% 81%
• SSMS owns and operates 19 oil palm estates, covering 70,984
hectares of planted area, which includes six palm oil mills and 19% 19% 99% 99%
one kernel crushing plant PT. Surya PT. Mitra PT. Kalimantan
PT. Citra Borneo
Borneo Industri Mendawai Sejati Sawit Abadi
Utama (CBU)
(SBI) (MMS) (KSA)
• SSMS’s 16,040 Ha of unplanted area serves as base for
organic growth
99% 99% 99% 99%
PT. Mirza PT. Menteng PT. Tanjung
PT. Sawit Multi
Pratama Putra Kencana Mas Sawit Abadi
Utama (SMU)
(MPP) (MKM) (TSA)

70,984 Ha 23.1% 4.5 MT/ha 19.4 MT/ha 8.3 years

CPO Yield per Mature FFB Yield per Mature Average Plant
Planted Area(2) Oil Extraction Rate(3)
Hectare(4) Hectare(4) Maturity(2)

Note: 1. Post the reorganization of CBI based on the shareholders register of the Company as of October 31, 2017. 2. As at 30 September 2017. 3. For the
period of 9M 2017. 4. For the period of FY2016.
5
Key Company Milestones
2017
1995 2010 2012 • Total planted area of
2014 2016 70,984Ha with mill
PT Sawit Sumbermas Sarana Annual CPO Annual CPO
Annual FFB processing Total planted capacity of
was incorporated in Central production surpasses production surpasses
surpasses 1,000,000MT area of 68,307Ha 375MT/hour
Kalimantan 100,000MT 200,000MT
• Targeting to expand
plantation by
5,000Ha in 2018

2013
2009 2011 2015
• Fourth Palm Oil Mill
Planted area surpasses Third Palm Oil and Total planted area of
commissioned at Selangkun
30,000Ha; Natai Raya Kernel Crusher Plant 66,201Ha post the
• Listing on the Indonesia
Palm Oil Mill commissioned at acquisition of TSA, SMU,
Stock Exchange with 1.5
commissioned Suayap MKM and MPP
billion new shares issued

2000
First 103Ha palm oil 71
plantation planted 66 68
59
50 51
46
2006 41
First production of CPO at 36
Sulung Palm Oil Mill 31
25
15 18
8
3
- 0 0 1

1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 9M '17

Total Planted Area (‘000 Hectares)

6
02. Business Overview
 Business Overview

Sizable Landbank with Potential Upside from Unplanted Area Land Rights Secured for Large Portion of Landbank

(1)
Other Planted Area Others
Unplanted 70,984 12,911
Area
16,040

Conservation • Most of the landbank have

• Substantial room for already obtained location
organic growth via Area
permits and land rights
unplanted reserves 5,804
Essential Location
Infrastructure HGU
Permit (2) 46,276
2,945 36,583

High Yielding Plantations… …Despite Young Profile of Plantations

23.7%
25.0%

Prime (8-20
450,000

23.5% 23.4% Immature

23.1% 24.0%
years)
400,000
(1-3 years)
321,238
23.0%

Average Age:
296,329 Average Age:
350,000

289,653 12 years
262,356 •
22.0%

300,000
1 year Using high-yielding 2nd
• High and consistent CPO 10% generation seeds from
21.0%

250,000

production and oil 200,000

20.0%

major providers including

extraction rates (“OER”) 150,000
19.0%

65% Lonsum, Socfin, Damimas

100,000
18.0%
and TopasAsianAgri
50,000
17.0%
25%
0 16.0%
Young
Mature (4-7
2014 2015 2016 9M 2017 years)
Average Age:
CPO Production (MT) OER (%)
5 years

Data as at 30 September 2017.

Note: 1. Includes Cadastral (have gone through cadastral process but have yet to obtain HGU) and relinquished land area (from previous owners which have
not been submitted for cadastral process). 2. The Location Permits for 27,687 hectares have expired and are in the process of being extended. 8
Business Overview (Cont’d)

Supported with group

livestock synergy To support various
• Integration of cattle customers, both domestic
support operations and and overseas
government plan for beef • 70.0% of sales for
consumption domestic usage;
• Reduction of weeding, • Remaining 30.0%
integrated with breeding entitled for export;
and fattening • Supported by a branch
• Combined organic office in Jakarta; and
fertilizer to improve • Operated by 6,066
productivity and cost permanent employees
efficiency (as of 30 Sep 2017)

Plantation Processing Plants High Quality Products

Total 70,984 Ha Processing Plant from To support customers for high

planted area across
Central Kalimantan
• Generating a high Oil Extraction Rate at the CPO
mill of 23.1% (CPO); 4.1% (Palm Kernel); and
39.5% (Crude PKO).
• Young and high-yielding plantations with average
maturity profile of 8.3 years
• One of the highest yielding CPO plantations in
Indonesia
FFB to CPO with a total quality Crude Palm Oil and Crude
installed capacity of Palm Kernel Oil, which can be used
375MT/hour as feedstock for diverse CPO
refinery products
• Current capacity utilization set to improve
in line with acquisition and planted area
growth

9
Our Commitment to Sustainability

 Target 100% RSPO Certification by 2020

100% RSPO Roadmap
 Partnership
Close with The Forest
Engagement Trust
with TFT(“TFT”)

The Forest Trust (“TFT”) is a renowned group of social

2018 2019 2020 and environmental experts in commodity supply chains

Initiation of
TSA RSPO 1 Visit and Scoping Exercise
MKM Certification  TFT visited our plantations in Pangkalan Bun and undertook
KSA Process for our a “scoping exercise”
MPP Smallholders &
SMU Supply Chains 2 Identified Strengths – TFT produced a report that
identified the following strengths:
 SSMS and MMS mills, which produce c.56% of total CPO in 2016  Progress in implementing the High Conservation Value
are RSPO certified since 2013  Continuous development of internal training programs
 ISPO certification for Kenambui, Sulung, Rangda, Kondang, Pulau,  General understanding of our staff and plasma farmers
Selangkun, and Rungun Estates since 2013 of our policies, especially in the area of legal compliance
 Aiming for all estates and operations to be RSPO certified by 2020


3 Granting of Membership with TFT
BOSF Orangutan Conservation  SSMS has given full weight and proper regard to the
recommendation in the TFT report have already taken
important measures to address the weaknesses identified
by TFT
 As a result, TFT has accepted SSMS as their newest palm
oil grower member

4 Forest Conservation Fund

 We will invest up to US$10 million in forest conservation in
Indonesia, to be initially managed by TFT as a Forest
Conservation Fund
 SSMS has partnered with the Borneo Orangutan
 The fund will have potential for future integration into an
Survival Foundation (“BOSF”) to purchase and
independent fund
maintain Salat Island for the conservation of
 The funds will be used by local communities and supplier
orangutans
companies to secure and protect forests at risk of
 SSMS has budgeted for the cost of the orangutan conversion to oil palm or other commodities
conservation programme

10
Support the Nation with Environmentally Friendly Actions…

• Comply with certifications;

• Study high conservation areas;
• No development of peatlands;
• Zero burning policy;
• Community driven;
• Partial self-generated electric power support;
• Conservation areas cover 6.2% within the plantation area;
• Free medical facilities;
• Education/tuition fees;
• Scholarships;
• Contribution to the PDB of Central Kalimantan; and
• Partnership with the BOSF

11
Consistently Support Harmonious Relationships with All Stakeholders
Corporate Governance “We do care”: Care for the Company, People, Environment and for the Country,
Indonesia

Cultural, Social and Empowering Health

Community Program Education Program Empowerment

Accommodate Participate in Increase

residents with knowledge- awareness about
food and sharing about the importance of
commodity stocks, plantations, healthcare and
and treatment industry and wellness
plans entrepreneurship

Affordable markets, basic food distribution, Scholarships for children, free school Free diagnosis, communal treatment,
development of places of worship admission, teacher training, Internships, blood donor programs
Learning Media and Equipment

Environmental Infrastructure Program for Economic

Conservation Program Program Empowerment Community

Tree replanting Dedicated to Provide

and treatment projects that bring opportunities to
the company and increase
community community self-
together reliance

1 million tree plan to be developed, plant Water supply developments, road and Assist in Working Capital loans,
maintenance bridges, village electrification Integrated Farming & Fishery and
Disability Assistance

12
03. Key Credit Highlights
Summary Credit Highlight

Young Maturity Profile Providing Visibility for Future

1 Production Growth

High Yielding and Efficient Plantation Operations Supporting

2 Low Cost Operations

Favourable Location Enables Higher Efficiency and Stronger

3 Cost Competitive Position

4 Strong CPO Fundamentals and Outlook

5 Strong Operating Profile leading to Resilient Financial Profile

Well Experienced Management Team with Proven Track

6 Record

14
1 Young Maturity Profile Providing Visibility for Future Production Growth
Young age profile will support a continued increased in production of FFB over the next several years with minimal increases in
production costs or capital expenditures.

Total Planted Area by Planted Year (Ha)

Immature (1 – 3 years) Young Mature (4 – 7 years) Prime Mature (8 – 20 years)

10% 25% 65%
8,699 8,432
7,060 6,765 6,978
6,002
5,445
5,009
4,057
2,677 2,556 2,796
2,129
728 1,042
336 174 103

9M 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Theoretical Yield by No. of Years (MT/Ha)

Pick up in production yield as Up to 33 MT/Ha during

trees move from young mature steady state
Pick up in production to prime stage
as immature trees
move into young
mature stage

31 32 32 33 32 31
28 29 30 28
25
22
18
14

1 2 3 4 5 6 7 8 9 10 11 12 13 14 23 24 25
15
2 High Yielding and Efficient Plantation Operations Supporting Low Cost Operations
Plant Productivity Cash Cost Breakdown for 9M 2017

Higher FFB yield, OER and CPO yield compared to average among peers SSMS - Cash Cost Units 9M Sep 2017
FY16 Peers Comparison – FFB Yield (MT/Ha)
Fertilizer and maintenance Rp bn 253
19.4 19.0 18.3 Average
17.4 16.8
14.7 16.5 Labor Rp bn 199
10.0 Harvesting Rp bn 43

Overhead Rp bn 128

Total field cost Rp bn 622

SSMS GAR Astra Agro Lestari DNS First LNS SGRO
GAR Agribusiness London Sumatra Sampoerna Agro
& Food

FY16 Peers Comparison – OER (%) FFB production K tons 938

23.9%
23.4% Average Field cost / FFB Rp /kg 664
22.5% 22.5% 22.2% 22.3%
OER % 23.1%
21.0% 20.8%
Field cost / CPO Rp /kg 2,874

SSMS DNS First LNS GAR Astra Agro Lestari SGRO

GAR Agribusiness
Milling cost Rp bn 63
London Sumatra Sampoerna Agro
& Food

FY16 Peers Comparison – CPO Yield (MT/Ha) CPO production K tons 262
4.5 4.3 4.2 Milling cost / CPO Rp /kg 241
3.9 3.8 Average
3.4
3.7
2.1
Total Cash Cost / CPO Rp /kg 3,115

FX Rate (September 30, 2017) Rp/USD 13,492

SSMS DNS GAR Astra Agro Lestari First LNS SGRO USD/mt 231
GAR Agribusiness London Sumatra
& Food Sampoerna Agro

Source : The respective companies’ public filings for peer companies data
16
 Favourable Location Enables Higher Efficiency and Stronger Cost Competitive
3 Position
Transportation and infrastructure
benefits

 All assets are concentrated in the same

SMU
area within a 60km radius
 Covered by a dense network of “all
weather” roads built to ensure that every MPP
part of the plantations is easily accessible TSA
at all times Kabupaten Lamandau
 Proximity to Kumai Port and Iskandar Nanga Bulik
Airport, and located along the Trans-
CENTRAL KALIMANTAN
Borneo highway
 Well established infrastructure
Cost benefits from operational MMS Kabupaten Kotawaringin
Barat
synergies WEST KALIMANTAN
SSMS

 Lower transportation costs and optimal

logistics Kabupaten Sukamara KSA
 Higher quality of FFB and CPO products Kalimantan
Plantation Entities
due to efficient transportation (lower FFA Pangkalan Bun
Iskandar Airport KSA = PT. Kalimantan Sawit
%) Abadi
Kumai Port Jetty, bulking facility & future refinery MKM = PT. Menteng Kencana
Central Kalimantan’s climate is ideal for Mas
CPO production MMS = PT. Mitra Mendawai
 High rainfall levels at approximately
MKM
Sejati
2,800mm – 3,000mm of rainfall a year with MPP = PT. Mirza Pratama Putra
at least 4.5 – 5 hours of sunshine daily SMU = PT. Sawit Multi Utama
 High mineral content soil with small SSMS = PT. Sawit Sumbermas
proportion of shallow peat soil Sarana Tbk
JAVA SEA
 Mean annual temperature of 31°C and
TSA = PT. Tanjung Sawit Abadi
high humidity
 Relatively flat and undulating reduces Plantation Iskandar
Kumai Port
Jetty, bulking facility
Key city Trans-Borneo Highway
planting, maintenance and harvesting costs Estates Airport & future refinery

17
4 Strong CPO Global Outlook and Fundamentals

Significant room for further growth in key palm oil consuming

Strong demand drivers for Global CPO consumption
countries
Edible Oil Consumption:
 Growing demand for food primarily in Asia especially China and Kg per Capita
2006 2016
India 67.1 64.4 Average: 65.8
 Expansion of oleochemical requirements
56.0 54.1
 Increased awareness of health benefits of palm oil compared to
Average: 55.1

other seed oils 43.1 Considerable

additional demand
 Increased use in biodiesel growth potential
26.5 Average: 27.9
24.3
19.2 21.9 20.3 17.5
M tonnes of CPO Average: 18.3
11.8

62.5
59.5
60.8 US EU-28 Indonesia Pakistan China India
57.9

52.6 Palm oil is the cheapest and highest yielding edible oil
48.8
45.3 46.4
42.6 Yield: Tonne/ha
5
37.8
36.2 Palm
4

2
Rapeseed
1
Soya
0
200 400 600 800 1,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Production Cost: US$/tonne

Source: Oilworld
18
4 Strong CPO Global Outlook and Fundamentals (Cont’d)

Palm oil still trades at a discount to other edible oils. Moreover, palm oil prices have been relatively stable over the last few years.

US$ / MT

1,400

1,200

1,000

US$741
800

600
US$653

400

US$231
200

0
Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 Sep-16 Jan-17 May-17 Sep-17 Jan-18

Soy oil premium to CPO CPO Soy oil SSMS’ average cash cost per ton
of CPO produced for 9M 2017

Source: Bloomberg
19
4 Indonesia Expected to Remain a Significant CPO Player

Significant growth in Indonesia’s market share in world CPO production and exports

Global Production of CPO, 2006 to 2016 (m tonnes) Global Exports of CPO, 2006-2016 (m tonnes)
M tonnes of CPO M tonnes of CPO
Indonesia Malaysia Rest of world Indonesia % share Indonesia Malaysia Rest of world Indonesia % share

70 53% 54% 60% 60.0 55% 60%

53%

(Indonesian % share of total output)

(Indonesian % share of total export)

51% 52% 52%
48% 50% 49%
60 47% 48% 47% 47%
45% 44% 50% 50.0 45% 44% 50%
43% 43% 43%
42%
50
40% 40.0 40%
40
30% 30.0 30%
30
20% 20.0 20%
20

10 10% 10.0 10%

0 0% 0.0 0%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Indonesia is also one of the largest consumers of palm oil

M tonnes of CPO

Consumption CAGR
9.3 9.2 9.2
(10 Year CAGR until 2016) 8.5 8.6
8.0 7.9
7.6
7.1 7.0 7.1 7.1 7.3 7.0
India 11.6%
6.2 6.0 6.3 6.1 5.7
5.1
Indonesia 9.5%

Europe (EU-28) 5.0%

China -0.6%

2012 2013 2014 2015 2016

Indonesia India China Europe (EU-28)

Source: Oilworld
20
5 Strong Operating Profile Leading to Resilient Financials


CPO Production
Increased production as our plantations mature
MT '000
and enter into their prime production age Slight decrease due to
adverse weather conditions

296 321
290
262

 Strategic location, logistical efficiencies and

best practices in plantation management


2014 2015 2016 9M 2017
Application of best-in-class agronomy practices Revenue
USD mm
249
194 202
176

Nursery Maintenance

• Use of only high yield • High quality fertilizer

seeds complemented with organic
fertilizer from byproducts of
• Culling of unhealthy mills 2014 2015 2016 LTM Sep '17
seeds
• Natural methods for planting EBITDA and Margin
and pest control USD mm / %
250

49.7% 50.3% 46.9% 51.1%

200

Harvesting Yield Analysis 150

127
96 88 95
100

• Harvest at maximum • Yield gap analysis to 50

oil content benchmark against 0

industry
• Processed within 12
2014 2015 2016 LTM Sep '17
hours
EBITDA EBITDA margin
Exchange rate USD:IDR of 13,492 used. LTM financial metrics have been calculated by adding the relevant entity’s consolidated financials for the nine months
ended 30 September 2017 to the relevant entity’s consolidated financials for the year ended 31 December 2016 and subtracting the relevant entity’s 21
consolidated financials for the nine months ended 30 September 2016.
6 Well Experienced Management Team with Proven Track Record
Board of Commissioners Board of Directors
Marzuki Usman Rimbun Situmorang Ramzi Sastra Nicholas Justin Whittle

Independent Commissioner Commissioner Director Unaffiliated Director and CFO

• Since August 2013 • Since August 2016 • Since August 2013 • Since December 2016
• 46 Years experience in oil palm industry • 16 Years experience in oil palm industry • 18 Years experience in oil palm industry • More than 25 years experience in
finance industry.

Bungaran Saragih Vallauthan Subraminam

President Commissioner President Director

• Since August 2013 • Since August 2016
• 44 Years experience in oil palm industry • Over 40 years experience in oil palm industry

Experienced management team with approximately 33 years of experience in palm oil on average and over 164 years of
combined industry experience.

22
04. Operational Analysis
High Yielding Plantation Despite Unfavourable Conditions In 2016

FFB Crude Palm Oil

MT MT
23.7%
25.0%

1,600,000
21.0 20.1 19.4 30.0
450,000
23.5% 23.4% 23.1% 24.0%

14.6 20.0
400,000

321,238
1,400,000

23.0%

1,200,000

1,019,156 1,094,463 1,074,050 10.0

350,000

296,329 289,653
938,025 262,356 22.0%

300,000
-

1,000,000
21.0%

250,000
(10.0)

800,000
20.0%

200,000

(20.0)

600,000 19.0%

150,000

(30.0)

18.0%
400,000
100,000

(40.0)

17.0%
50,000
200,000
(50.0)

0 16.0%

0 (60.0)

2014 2015 2016 9M 2017 2014 2015 2016 9M 2017

Production Yield (MT/Ha) Production OER

Palm Kernel Crude Palm Kernel Oil

MT MT
4.5% 39.4% 39.0% 40.2% 39.5%
90,000

4.3% 4.4% 5.0%

10,000

4.1%
40.0%

9,000
4.5%
80,000

35.0%

60,861 6,715 6,826 6,758

8,000
4.0%

70,000

60,000
53,533 54,005 3.5%
7,000
6,227 30.0%

50,000
46,707 3.0%
6,000
25.0%

2.5% 5,000

20.0%

40,000

2.0% 4,000

15.0%

30,000

1.5% 3,000

10.0%
20,000

1.0%
2,000

10,000 5.0%
0.5%
1,000

0 0.0%
0 0.0%

2014 2015 2016 9M 2017 2014 2015 2016 9M 2017

Production KER Production KOER

24
05. Financial Performance
Prudent Financial Policy

Prudent Financial Management Strong Risk Management

Modest • Maintain debt to equity leverage of less

Balance Investment • Investments are decided after careful
than 1.0x
review and the assessment of a
Sheet • Maintain gross debt to EBITDA leverage Policy feasibility study
of around 3.0x
Leverage

Diversified • Business profile provides a natural

• Secure diversified funding sources from
Hedging hedge against USD/IDR fluctuations
Funding banks and both domestic and
international capital markets Policies
Channels • Do not practice hedging of CPO price

• Annual dividends to be distributed in an

• Manage liquidity risk by maintaining
amount up to 30% of net income for
cash and cash equivalents sufficient to
Significant meet our commitments for normal
Dividend each year, normalized by excluding net
Liquidity Policy foreign exchange gains/losses, deferred
operations, regularly evaluating cash
tax revenues or expenses, and
flow projections and actual cash flows
deducting all specified reserves

26
Strong Financials and Margins

Revenue EBITDA and Margin

USD mm USD mm / %
250

249 49.7% 50.3% 51.1%

46.9%
202
200

194
176
150

127
96 88 95
100

50

2014 2015 2016 LTM Sep '17 2014 2015 2016 LTM Sep '17
EBITDA EBITDA margin

EBIT and Margin Net Income and Net Income Margin

USD mm / % USD mm / %
250

45.0%

43.5%
40.0%

42.4% 41.9% 200

38.2% 35.0%

25.4% 26.4%
24.0%
30.0%

150

21.7%
108 25.0%

82 74 77 100
20.0%

66 15.0%

49 42 44 10.0%
50

5.0%

0 0.0%

2014 2015 2016 LTM Sep '17 2014 2015 2016 LTM Sep '17
EBIT EBIT margin Net income Net income margin

Exchange rate USD:IDR of 13,492 used. LTM financial metrics have been calculated by adding the relevant entity’s consolidated financials for the nine months
ended 30 September 2017 to the relevant entity’s consolidated financials for the year ended 31 December 2016 and subtracting the relevant entity’s
consolidated financials for the nine months ended 30 September 2016. 27
Stable Credit Metrics and Reducing Capital Expenditure

Total Debt / EBITDA (x) EBITDA / Interest (x)

8.0x

7.0x
7.0x

6.4x 6.2x
6.0x
5.8x
3.0x

2.7x 2.8x
2.5x
2.4x 5.0x

4.0x

2.0x

1.5x
1.4x 3.0x

2.0x

1.0x

1.0x
0.5x

0.0x 0.0x

2014 2015 2016 LTM Sep '17 2014 2015 2016 LTM Sep '17

Total Debt / Equity (x) Capital Expenditure

USD mm

43

1.4x

1.2x 27 26
1.2x
1.1x
1.0x 0.9x
0.8x 0.7x 15
0.6x

0.4x

0.2x

0.0x

2014 2015 2016 LTM Sep '17 2014 2015 2016 9M 2017

Exchange rate USD:IDR of 13,492 used. LTM financial metrics have been calculated by adding the relevant entity’s consolidated financials for the nine months
ended 30 September 2017 to the relevant entity’s consolidated financials for the year ended 31 December 2016 and subtracting the relevant entity’s
consolidated financials for the nine months ended 30 September 2016. 28
Well Managed Debt Maturity Profile

Overview of Debt Terms (as of 30 September 2017) Debt Maturity Profile (as of 30 September 2017)

Issuer of Interest USD mm

Type Maturity Currency Principal
Facility Rate

BNI SSMS
SSMS 2024 IDR IDR1,025bn 9.75
(IDR)
BNI SSMS
SSMS 2025 IDR IDR265bn 9.75
(IDR)
BNI SSMS
SSMS 2025 USD USD65mn 5.5
(USD)
KSA BNI KSA (IDR) 2024 IDR IDR330bn 9.75

KSA BNI KSA (USD) 2024 USD USD16.5mn 5.5

SMU BNI SMU (IDR) 2025 IDR IDR540bn 9.75

BNI SMU
SMU 2025 USD USD27.1mn 5.5
(USD)
139
TSA BNI TSA (IDR) 2025 IDR IDR465bn 9.75 121

TSA BNI TSA (USD) 2025 USD USD23.3mn 5.5

66
Exim bank
MMS 2020 USD USD55.0mn 6.1 26
MMS
IDR 5,142bn /
Total Less than 1 year 1 - 2 years 2 - 5 years More than 5 years
US$381.1mn

Exchange rate USD:IDR of 13,492 used.

29
06. Appendix
Other Company Information
CBI Group Business

Subsidiary CBI Group’s Business Description

ownership
PT Borneo Industri Nusantara (BIN) 95% Iron and Steel
PT Citra Borneo Chemical (CBC) 75% Oleochemical
PT Borneo Sawit Gemilang (BSG) 96% Landbank
PT Borneo Industri Terpadu (BIT) 90% Iron and Steel
PT Pelayaran Lingga Marintama (PLM) 99% Cargo shipping
PT Amprah Mitra Jaya (AMJ) 99% Timber
PT Central Kalimantan Abadi (CKA) 99.2% Timber
PT Erythrina Nugraha Megah (ENM) 80% Timber
PT Intrado Jaya Intiga (IJI) 99% Timber
PT Mendawai Putra (MP) 99% Trading
PT Natai Sawit Perkasa (NSP) 99% Landbank
PT Surya Borneo Energi (SBE) 90% Electrical
PT Surya Borneo Industri (SBI) 81% Industrial Park
PT Citra Borneo Utama (CBU) 81% Oleochemical
PT Pelayaran Senggora (PS) 97.14%(1) Cargo Shipping
PT Pelayaran Ampara (PA) 97.14%(1) Cargo Shipping
PT Pelayaran Mitra Globalindo (PMG) 85.17%(1) Cargo Shipping

Note: 1. Represents ownership by Pelayaran Lingga Marintama, in which CBI owns 99%.
32
Management Organization

General Meeting of
Shareholders (GMS)

Board of Commissioners

Nomination &
Audit Committee President Director
Remuneration Committee

Internal Audit

Plantation Operational
Finance Director Commercial Director
Director

Chief of HR & General

Plantation Advisor Corporate Secretary Upstream Engineering Sales and Marketing
Affairs

Research & Development Corporate Legal Plantation Administration Procurement HR & General Affairs

License Finance Controller Traksi Logistics Training and Development

Corporate Social
Sustainability Corporate Finance Regional Plantation FFB Purchasing
Responsibility

Demand Planner & Problem

Representative Office Risk Management Medical
Solver

HR & General Affairs RO.

Legal
Jakarta

33
Well-Experienced and Professional Management
Board of Commissioners
Bungaran Saragih | President
Commissioner
• Since August 2013
• 44 Years experience in oil palm industry
• Currently Commissioner of PT Rea Kaltim
Plantations, Advisor of PT Japfa Comfeed
Indonesia Tbk., Chairman of Board of Trustees
Borneo Orangutan Survival Foundation and Trustee
of Roundtable on Sustainable Palm Oil
• Previously Chairman of Board of Governors
International Fund for Agricultural Development,
Minister of Agriculture of Indonesia
Marzuki Usman | Independent
Commissioner
• Since August 2013
• 46 Years experience in oil palm industry
• Previously Minister of Forestry of Indonesia,
President Commissioner of PT PP London
Sumatera Tbk.
Rimbun Situmorang | Commissioner
• Since August 2016
• 16 Years experience in oil palm industry
• Also acts as President Commissioner of PT
Kalimantan Sawit Abadi
• Previously served as Director in Citra Borneo
Group
Board of Directors
Vallauthan Subraminam | President
Director
• Since August 2016 as President Director, since
2007 in group
• Over 40 years experience in oil palm industry
• Previously regional head in group 2007 – 2012,
Senior Manager of IJM Plantations Berhad,
Executive Director PT Domba Mas Group,
Plantation Manager Asian Agri Group, Kemayan Oil
Palm Berhad
• Education: Institute of Supervisory Management,
United Kingdom
Nicholas Justin Whittle | Unaffiliated
Director and CFO
• Since December 2016
• More than 25 years experience in finance
industry
• Previous positions include CFO of Hot-Hed
International S.A., and Technical Advisor to PT
Trimegah Securities Tbk.
• Education: Cambridge (Bachelor and Master);
Columbia Business School (MBA)
Ramzi Sastra | Director
• Since August 2013, served as Deputy
Commercial Director
• 18 Years experience in oil palm industry
• Previously Commercial Manager PT Bakrie
Sumatera Plantation and Commercial Manager PT
Flora Sawita Chemindo
• Education: University of North Sumatra (Bachelor);
Jakarta Institute of Management Studies (Master)
34
Achievement and Certification

RSPO ISPO

• Received RSPO certification for Sulung Mill (SSMS), Selangkun • Received ISPO certification for Kenambui, Sulung, Rangda,
Mill (SSMS) and Suayap Mill (MMS) Kondang, Pulau, Selangkun, and Rungun Estates

ISO 9001, ISO 14001 and OHSAS 18001 PROPER blue

• The Citra Borneo Indah Group (including CBI and SSMS. and its • Awarded “Blue” PROPER certification by the Ministry of the
subsidiaries) is certified ISO 14001: 2004, OHSAS 18001: 2007 Environment and Forestry for 2015-2016
and ISO 9001:2008

35
Land Rights Obtaining Sequence

2 Land Acquisition Issuance of the

Cadastral Map
The land acquisition must be completed within the
validity period of the location permit. Location
4 by the Land
Issuance of the
permit is valid for 3 years and can be extended for
Office
another year if the company already acquired at Ministerial
least 50% of the intended land.
Apply for HGU 8 Decree
Regarding the
Obtain to the Land
1 Location
Land acquisition can be done by way of (depending
on the type of the land), among others:
• plant growth compensation to the local
5 Office
Approval of
HGU
Permit communities;
• forest relinquishment or forest exchange to the
This is a license granted
by the government to
Ministry of Environment and Forestry; and Land Office to
• land purchase/ relinquish from the previous
enable a company Form/ Establish
acquiring or relinquish
owner.
6 Panitia B
Registration for
land with area and
location that are specified
in the related license.
9 HGU Certificate
to the Relevant
3 Apply for Land
Measurement
Land
Assessment and
Land Office

Apply for land measurement (cadastral process) to

the land office followed by the issuance of cadastral
7 Recommendati
map.
on by Panitia B

36,583 ha (Location Permit) 3,919 ha (Relinquished Land) 8,992 ha (Cadastral) 46,276 ha (HGU)

36
Support the Protection of Orangutans’ Habitat

• In order to protect the habitat of orangutans, PT Sawit Sumbermas Sarana Tbk, in cooperation with the Borneo
Orangutan Survival Foundation (BOSF), BKSDA and Government of Central Kalimantan, established conservation of
orangutans on the island of Nusa Salat;
• The region will encourage ecotourism for orangutan conservation; and
• Pulau Badak Besar dan Badak Kecil were selected due to their location around the island of Nusa Salat and suitability
for orangutan conservation habitats

37
 Thank You
Visit our website at www.ssms.co.id

Mailing Address:
PT Sawit Sumbermas Sarana Tbk
Head Office
Jl. H. Udan Said No.47
Pangkalan Bun 74113
Kalimantan Tengah, Indonesia
Representative Office
Equity Tower, Suite 43D
Jl. Jend Sudirman Kav.52-53
Jakarta 12190, Indonesia

38