0

PT Mitra Pinasthika Mustika Tbk

dbAccess Conference2-3 October 2013

www.mpmgroup.co.id

Agenda

1

I. Company Overview

II. 1H13 Results & FY13 Outlook

III. Company Updates

IV. Use of Proceeds

I. COMPANY OVERVIEW

3

A leading automotive company in Indonesia

15.3%

Revenue100% = IDR6,781 bn

Net profit aftertax100% = IDR248 bn 39%

39%

8%

14%

1H13 performance

Distribution & Retail Auto Consumer Parts Auto Services Financial Services

100% 100% 100% 55-100%(b)

PT Saratoga Investama Sedaya Tbk(“Saratoga”)

Morninglight Investments S.à.r.l.(“Morninglight”)Public and IndividualShareholders(a)

45.1%

39.6%

(c)

(c)

Honda motorcyclemaster distributor inEast Java & East NusaTenggaraHondamotorcycle retaildealer

(a) Includes 14.3% of Individual shareholders in PT Rasi Unggul Bestari(b) 100% for MPMFinance; 60% for SAF; 55% for MPMInsurance

(c) Motor Distributor is under our 100% subsidiary, Mulia; Motor Sales is an operating divisionwithin MPM

No 1 Motorcycle lubricant oilmanufacturer and distributor

nationwide

No 2 B2B vehicle rental operatorin Indonesia

Car financingcompany

MotorcyclefinancingcompanyAuto and cargoinsurancecompany

75%

11%

7%7%

Consumer Parts

Financial Services

Distribution & Retail

Auto Services

Shareholding and Organization Structure (as of 31 August 2013)

Nissan carretail dealer

Simon HalimIndependent

Commissioner

Titien SupenoHR Director

Troy ParwataFinance Director

Koji ShimaPresident Director

Tossin HimawanCommissioner

Board of DirectorsBoard of Commissioners

Edwin SoeryadjayaChairman

Inghie KwikVice Chairman

Danny WallaCommissioner

Istama TatangSiddharta

IndependentCommissioner

MPM has the best-in-class management team

4

BoD members bring over 66 years ofcombined professional experienceBoC brings strong mix of operational, strategy, M&A, and governance expertise

5

Exceptional Growth in Fleet Size

Fleet sizeNumber of cars

Provider of full suite of transportation solutions such as vehicle rental, driver service, fleet management,car pooling, and auto body repair

Wide Geographic Presence

12,104

(a) 4 months outlook(b) Sample customers. MPMRent has over 1,200 customers as of August 2013(c) Source: MPMRent Data as of August 2013

+41%

2013E

14,066

12,593

1,473(a)

2012

7,991

2011

6,196

2010

4,490

2009

3,578

Reputable Corporate Clients(b)

12,104

Loyal Customer Profile(c)

Mitra Pinasthika Mustika Rent (“MPMR”)

17%

29%53%

1%<= 1 year> 1-5 years> 5-10 years> 10 years

MPMR is the 2nd largest vehicle rental company nationally

6

Federal Karyatama (“FKT”)

Producer and manufacturer of Federal Oil motorcycle lubricant oil. Also does blending and packaging forAHM Oil, the OEM motorcycle oil brand for Honda motorcycles

Sales VolumeKL

32.124

+11%

2013E

64,874

41,63523,239(a)

2012

56,393

2011

52,713

2010

45,270

2009

43,370

(a) 4 months outlook

Federal Oil is a leading brand in motorcycle lubricantsnationally

Strong ProductPortfolio

Strong ProductPortfolio

Attractive GrowthProfile

Attractive GrowthProfile

Best in ClassProduction Facility

Best in ClassProduction Facility

11

22

33

Matic Products

FederalMatic 30

FederalMatic 40

Gear OilMatic

Non-matic Products

SupremeUltratec

SupremeXX

Evotec 30 Evotec 40

7(a) 4 months outlook(b) As of 1H13 MSO has 40 retail outlets

Mitra Pinasthika Mulia (“Mulia”) Mustika Sales Operations (“MSO”)Distributor of Honda motorcycles inEast Java and East Nusa Tenggara

Retail sales and services of motorcycles

Rapid sales volume growth, driven by aggressive expansion…Consistent market share capture, supported by…

…best-in-class warehousing and supply chain operations …and well-managed retail dealership network

Honda M/S inEast Java (%)

Motorcycle sales‘000 units

Motorcycle sales‘000 units

Number ofretail outlets47 51 63 66 66(a) 17 22 31 38 40(a)

415 (a) 62 (a)

(b)

736656611504

+14%

2013E

863

599

264(a)

2012201120102009

99867554

+21%

2013E

115

74(b)

41(a)

2012201120102009

Mulia and MSO are among the best distribution and retailfranchises for Honda motorcycles in Indonesia

8

• Focus on new and used car purchases aswell as used car and motorcyclerefinancing

• Strong relationship with fundingproviders as well as numerous retail cardealers and showrooms

• 48 branches, 82 outlets, and 11marketing offices

• Focus on new Honda motorcycle, usedmotorcycle financing, and electronicgoods financing

• Partnership with JACCS, a leadingJapanese consumer finance company,to lower overall funding cost

• 36 branches in 6 provinces

• Offers vehicle, cargo, and propertyinsurance

• Established to leverage on broaderinsurance opportunities within MPM

• Reinsurance treaty with SwissReinsurance

• 6 representative offices

Loan Portfolio, IDR billion Loan Portfolio, IDR billion

88.5%95.9% 87.0%88.4%

(a) 6 months outlook

MPM has three financial services subsidiaries to complementits operations

+22%

FY13E

3,353

2,999

354 (a)

FY12

2,864

FY11

2,242

+11%

FY13E

1,298

1,119

179(a)

FY12

951

FY11

1,061

34

+1,380%

FY13E

74

40(a)

FY12

5

Gross Premium, IDR billion

9

MPM has clear strategy to grow its businesses and to furthercapture new opportunities within automotive industryIndonesia’s automotive industry is attractive andgenerated over $59 bn of sales in 2011 MPM has a clear 3-prong strategy to capture growth

Car manufacturing ($12.7 bn)

Car distribution ($13.1 bn)

Car retail ($14.8 bn)

2W manufacturing ($11.2 bn)

2W distribution ($11.9 bn)

2W retail ($13.5 bn)

Spare parts ($1.1 bn)

Lubricant oil ($1.7 bn)Batteries ($1.1 bn)

Tires ($2.1 bn)

Car rental ($2.4 bn)

Taxi ($0.5 bn)

Motorcycle financing ($2.0 bn)

Car financing ($1.5 bn)

Vehicle insurance ($1.2 bn)

Used motorcycle resale ($7.5 bn)

Used car resale ($9.7 bn)

New CarSale

New 2WSale

AutoConsumerParts

AutoServices

Other

AutoFinancialServices

Push inorganicgrowth

Reinforce aseamlessnationwideplatform

Relative market share

Invest aggressivelyin our topperformers

Maintain andprotect leadershippositions in our“cash generators”

Develop businesseswith strong marketgrowth rate, but notyet in leadingpositions

Other Top 5

<10%

≥10%

Mar

ket g

row

th ra

te

• Develop a truly integrated nationwide platform Identity and brand building Cross-selling of products and services Sharing of resources Proximity to customers

High

Low High

• Push inorganic growth Bolt-ons for existing sub-segments Acquisitions and start ups into new sub-segments

• Actively manage our portfolio1

2

3

All amounts in this diagram are converted to US$ at the average 2011 exchange rate of US$1 = IDR 8,000.Source: Frost & Sullivan, management

II. 1H13 RESULTS & FY13 OUTLOOK

% Growthfrom LY +31% +15% +88% +25%

1H13 consolidated revenue results

+31%

1H13

6,781

FinanceCompanies

Elimination

1295

Rental

221

AutoConsumer

Parts

100

2WDistribution

+ Retail

1,200

1H12

5,177

All business units strongly outperform previous year results and are on track to realize FY2013 budget withrevenue run rate of 52%

IDR billion

11

% Growthfrom LY +45% +1% +74% +79% +22% +34%

12

248

182 48

1H12 FinanceCompanies

AutoConsumer

Parts

1

2WDistribution

+ Retail

Rental

1730 17

+36%

MinorityInterest

Elimination 1H13

58

Head Office

MPM is successfully growing all of its business units while maintaining strong profitability

IDR billion

1H13 consolidated net profit after tax results

13

Robust capital structure

MPM improved its capital structure in all fronts and is rapidly accumulating its retained earnings

+20%

Book Value of Equity

Payables

Bank Funding for SAFand MPMFinance

Mandatory ConvertibleNote

Net Debt (ST & LT Loans)(a)

Cash

1H13

10,879

4,240

220

1,585

2012

9,070

1,837

1,096

3,216

1,010

719

1,1920

3,495

1,339

(a) ST & LT loans less cash

• Total debt levels havedecreased significantly

• Mandatory convertible notewas converted into commonshares of MPM at IPO

• Bank funding for the financecompanies receivables andpayables have increasedconsistent with the growth ofMPM’s operations

• Net debt to equity ratio notincluding funding for thefinance companies hasreduced significantly from0.4x in 2012 to 0.05x in 1H13

+33%+33%

-70%-70%

-100%-100%

+9%+9%

+22%+22%

+131%+131%

IDR billion

14

• PT Grahamitra Lestarijaya was successfullyacquired in February 2013, which added atotal of 1,830 cars as of 1H13

• PT Surya Anugerah Kencana was successfullyacquired in June 2013, which added a total of1,280 cars

• Utilization rates is still high and above 90%

• Construction of driving school building isexpected to complete by end of 2013 withoperations to start on 1 April 2014

Combination of organic and non-organic growthhas accelerated MPMRent’s into the #2 position

Total FleetSize

8M13

12,5937,258

8M12

+74%

Operational Performance+76%

FY13E

14,066

FY12

7,991

IDR billion+88%

1H13

473

1H12

252

Revenue+64%

FY13E

921

FY12

563

IDR billion

4023

+74%

1H131H12

Net Profit After Tax

9061

FY12 FY13E

+48%

1H13 Milestones

Key Initiatives in 2H13

+74%

1H13

12,104

1H12

6,955

15(a) Does not take into account reduction from minority interest

• MPM completed the acquisition of the 17%minority shareholding in FKT on 10 June2013, making FKT a 100% subsidiary of MPM

• Through effective marketing, matic productsales volume in 1H13 has increased by 144%compared to 1H12

• Product portfolio shift to further emphasizethe higher growth matic segment, includingnew matic product development

• Brand positioning rejuvenation

• Tap into 4W lubricant business

• Production plant expansion plan is movinginto feasibility study

Good volume growth and efficient operations led tostrong financial performance

Total SalesVolume KL

37,979

+10%

8M13

41,635

8M12

Operational Performance+15%

FY13E

64,874

FY12

56,393

IDR billion

756

1H12

656

+15%

1H13

Revenue

1,286

+20%

FY13E

1,537

FY12

IDR billion+1%

118

1H12 1H13

119

Net Profit After Tax(a)

218

+8%

FY13EFY12

202

1H13 Milestones

Key Initiatives in 2H13

29,101 32,124

1H12

+10%

1H13

16

• Mulia is significantly outperforming themarket. 1H12 to 1H13 sales volume growth:

• 2W Market: 6% - Honda: 12%

• Strong performance despite headwinds:

₋ Increase in Syariah down paymentrequirement in April

₋ Increase in BBM price in June

• Units sold in the month of July reached arecord high of 90.8K motorcycles

• Total dealership increased to 40 dealers

• In 2013, MPMMotor opened 2 new dealers

Makassar Pontianak

Outperforming the market

Motorcycle sales‘000 units +27%

599470

+17%

863736

1H13 Milestones

IDR billion

1H13

5,098

1H12

3,899

+31%

Revenue

+21%

FY13E

9,854

FY12

8,128

IDR billion+45%

1H13

159

1H12

110

Net Profit After Tax+23%

FY13E

271

FY12

221

7464

+16%

8M138M12

99 115

FY12

+16%

FY13E

MPMMotor

Mulia

+26%

448356

5347

+13%

1H131H12

17

• Total network grew from 45 branches and 87outlets in 1H12 to 47 branches, 8 salesoffices ,and 85 outlets in 1H13

• # of new accounts increased from 21,163 in1H12 to 30,385 in 1H13

• Weighted average Interest rates on newbookings has decreased from 20.0% in 1H12to 18.8% in 1H13

• The loan portfolio growth has increased NPLratio > 90 days from 1.8% in 1H12 to 2.2% in1H13

• Increase collection efforts to reduce NPLratio to below 2.0%

• To increase network to 50 branches, 12 salesoffices, and 100 outlets

Strong performance underlined by growth innew bookings

New BookingIDR billion 0%

8M13

1,534

8M12

1,534

Operational Performance+12%

FY13E

2,552

FY12

2,286

IDR billion+23%

1H13

327

1H12

266

Revenue

+26%

FY13E

694

FY12

549

IDR bilion

4941

+20%

1H131H12

Net Profit After Tax

+14%

FY13E

114

FY12

100

1H13 Milestones

Key Initiatives in 2H13

1H13

1,167

1H12

1,139

+2%

18

• SAF has successfully turned around from anet loss into a profitable company

• # of new accounts increased from 31,314 in1H12 to 48,255 in 1H13

• Weighted average Interest rates on newbookings has increased from 24.2% in 1H12to 33.1% in 1H13

• NPL ratio > 90 days has decreasedsignificantly from 3.2% in 1H12 to 1.7% in1H13

• Target to open 12 new Point of Sales , 8 inEast Java, and 4 in greater Jakarta

• Maintain NPL ratio > 90 days at 1.7 % in2H13

New BookingIDR billion

8M12

378

+87%

8M13

707

Operational Performance

FY12

1,056552

+91%

FY13E

IDR billion+24%

115 143

1H12 1H13

Revenue

+82%

FY13E

327

FY12

180

IDR billion

17

-3

+567%

1H12 1H13

Net Profit After Tax

31

-6

+650%

FY13EFY12

1H13 Milestones

Key Initiatives in 2H13

A successful turnaround from 2012

+58%

1H13

479

1H12

304

FY2013 outlook

19

Key metrics 1H12 1H13 % FY12 FY13 %

Profit & Loss (IDR billion)

Net revenue 5,177 6,781 31.0% 10,777 13,281 23.2%

Gross profit 751 1,015 35.2% 1,618 2,080 28.6%

GP margin 14.5% 15.0% 15.0% 15.7%

Net profit fromcontinuingoperations

203 278 36.9% 405 567 40.0%

NP margin 3.9% 4.1% 3.8% 4.3%

Net profit afterminority interest 182 248 36.3% 374 540 44.4%

• FY2013 outlook has been revised upward due to strong 1H13 performance and momentum

• Gross profit and net profit margin continues to improve due to stronger contribution fromhigher margin businesses units (automobile consumer goods, rental, and finance units)

FY2013 outlook (continued)

20

Key metrics FY12 1H13 FY13

Balance sheet (IDR billion)

Cash 1,192 1,585 726

ST & LT loans 1,911 220 1,905

MCNs(a) 1,010 - -

Bank funding for SAFand MPMFinance(b) 3,216 3,495 3,427

Book value of equity 1,837 4,240 4,580

• Despite the Company’s rapid growth over the last two years, MPM’s net debt level(c) isexpected to be at a comfortable level of IDR1,179 billion (US$118 million) by end of FY13

- This implies net debt to equity ratio of approximately 0.3x

(a) MCNs had been converted into common shares of MPM at IPO(b) Only commenced consolidation of MPMFinance borrowings in FY12 onwards(c) ST & LT loans less cash

III. COMPANY UPDATES

22

Dealer Agreement Signing with Nissan Motor Indonesia

• On 23 August 2013, MPMX through its subsidiary, PT Mitra Pinasthika Mustika Auto (“MPM Auto”)signed Dealer Sales and Service Agreement (“DSA”) with PT Nissan Motor Distributor Indonesia(“NMDI”)

• MPMX to open 50 dealers and aims to sell 53,000 Nissan & Datsun cars by 2017

Car salesunits 53,000

34,000

16,000

2,500

2016F2015F 2017F2014FNumber of retaildealers 7 22 40 50

22

IV. USE OF PROCEEDS

24

MPM has used up 53% of the proceeds raised in the IPO

Misc.workingcapital

MPMInsuranceinorganic

opportunities

MPMRentpurchasenew cars

FKTfactory

Loanrepayment

MPMRentacquisition

of SAK(1,280 cars)

FKT 17%stake

acquisition

Net IPOproceeds

Status:

100%

In IDRbillion, (%)denotespercentageof net IPOproceeds

• 970,000,000 shares (21.7% of enlarged TSO) were offered to public market at IDR1,500 per share

• The 2013E P/E valuation is about 10.7X, with MPMX price at IDR 1,300

8095

275

45115

225

220

300

1,355

MPMRentorganic &inorganic

opportunities

(22%) (16%) (17%)

(20%)(3%) (7%) (6%)

(8%)

APPENDIX

26

Board of Commissioners

Tossin Himawan, Commissioner• More than 40 years of experience in automotive and finance

industries• Previously served as a Commissioner in PT Astra Otopart Tbk

(auto-parts business) and President Commissioner of PT AstraHonda Motor

Danny Walla, Commissioner• Commissioner of MPM since 2010• One of the founding employees of PT Federal Motor, which

later became PT Astra Honda Motor• During his 34 year tenure with the Astra Group, he has held

CEO of PT Astra Agro Lestari Tbk and PT Astra Otopart Tbk

Istama Tatang Siddharta, Independent Commissioner• Commissioner of MPM since 2013• Currently a Commissioner at PT Austindo Nusantara Jaya• Previously Chairman at KAP Siddharta, Siddharta & Widjaja, a

member firm of KPMG International from 1991-2004

Simon Halim, Independent Commissioner• Commissioner of MPM since 2013• Currently the Managing Partner of Arghajata, a strategic

Indonesian consulting firm with exclusive alliance with Booz &Company

• Previously Partner and CEO of Ernst & Young Indonesia

Board of DirectorsEdwin Soeryadjaya, Chairman• President Commissioner of MPM since 2010• Co-founder of Saratoga Capital, a leading private equity firm in

Indonesia

Inghie Kwik, Vice Chairman• More than 20 years of experience in corporate strategy,

investments and mergers and acquisitions in Indonesia• Currently President Director of PT Affinity Equity Partners

Indonesia and previously President Director of PT MorganStanley Asia Indonesia

Troy Parwata, Finance Director (Non-affiliated)• Previously CFO of PT Tigaraksa Satria Tbk and PT Mattel

Indonesia• More than 20 years of experience in treasury, finance and

accounting

Koji Shima, President Director• Founded MPMRent in 2008 and was appointed President

Director of MPMFinance in 2009• More than 30 years of experience in international trade, retail

sales and investments. More than 15 years of experience inIndonesia

Titien Supeno, HR Director (Non-affiliated)• More than 16 years of experience in human resource (“HR”),

management and marketing analysis• Previously served as a HR Director of PT Anugrah Pharmindo

Lestari and Senior Manager of Employee Development and theGeneral Manager of HR at PT Heinz ABC

MPM Board of Commissioners and Directors

27

Acquisition of PT Grahamitra Lestarijaya &PT Surya Anugerah Kencana

• GMLJ as of 6 February 2013,had a vehicleutilization rate of 86.4%, an average long-termcontracts tenor of 1.7 years and an averagevehicle age of 3.1 years

• Fleet mix: 72% of Avanza, Xenia, & Innova

• SAK as of 31 December 2012 had a vehicleutilization rate of 90.0%, an average long-termcontracts tenor of 1.8 years and an averagevehicle age of 2.5 years

• Fleet mix: 70% of Avanza & Xenia

PT Surya Anugerah Kencana

Customer Composition by Industry %

Professional Service (Consultant) 12%Telecommunication 9%Building & Construction 8%Chemical 8%Distribution & Logistics 8%Pharmacy 8%Bank/Finance 7%FMCG 7%Manufacturing 6%Transportation 5%Others 22%

Customer Composition by Industry %

Banking & Finance 27%State Owned Company 14%Pharmacy 10%Manufacturing 10%Distribution & Logistics 6%Food & Beverages 6%Insurance 6%Others 21%

PT Grahamitra Lestarijaya

28

Outperforming the market

East Java is attractive and having a greatmotorcycle market because

GDP Contribution from Various Industries in East Java(a)

Agriculture

Trade, Hotel, Resto

Manufacturing

Transportation

Construction

Electricity

Finance

Mining

Services

1%

15%

27%

2%

5%

30%

5%

9%

6%

1. East Java is second largest contributortowards Indonesian economy; while GDP percapita ranked as tenth biggest compared toother provinces (a)

2. Its large size as second most populousprovince and diverse industry; in 2012 , EastJava’s economy grew at 7.3% faster thannational economy growth at 6.5% and aim7.5% in 2013(b)

3. Honda’s market share in East Java (managedthrough Mulia) was always above Honda’smarket share nationally between 2007 and2012(c)

(a) Source: BPS(b) Bank Indonesia – Surabaya(c) Based on police registration data

11

22

1,069

66%

25%9%

2011

989

63%

29%9%

2010

1,173

51%

40%

9%979

47%

43%

10%

2008

915

49%

37%

14%

2007

733

47%

35%

18%

20122009

YamahaOthers

Honda

33

Disclaimer

29

• These materials have been prepared by PT Mitra Pinasthika Mustika Tbk (the “Company”, “MPM”) and have not beenindependently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed onthe accuracy, fairness or completeness of the information presented or contained in these materials. The Company or anyof its affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever arising from anyinformation presented or contained in these materials. The information presented or contained in these materials is subjectto change without notice and its accuracy is not guaranteed.

• These materials may contain statements that constitute forward-looking statements. These statements include descriptionsregarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results ofoperations and financial condition of the Company. These statements can be recognized by the use of words such as“expects,” “plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking statementsare not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those inthe forward-looking statements as a result of various factors and assumptions. The Company has no obligation and doesnot 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 ofany offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form thebasis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Anydecision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professionaladvice.