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Public Expose
PT Hero Global Investment Tbk
Jakarta, 11 June 2025
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Disclaimer
This presentation material was prepared by PT Hero Global Investment Tbk (“HGII”/“Company”) and has not
been independently verified. No representation or warranty, express or implied, is made and no reliance is
made on the accuracy or completeness of the information presented or contained in this presentation material.
The Company and its affiliated companies, and or representatives of the Company are not responsible for any
losses arising from the information presented or contained in this presentation material. The information
presented or contained in these presentation materials is subject to change without notice and its accuracy is
not guaranteed. This presentation material contains statements which are forward-looking statements. These
statements include a description of the Company's hopes and expectations in relation to the consolidated
results of operations, the Company's future performance, and the potential assets to be acquired by the
Company, except for historical matters. In this presentation material, there are words such as “plan”, “will”,
“estimate”, “project”, “intend”, or words with similar meaning. Such forward-looking statements do not
guarantee future performance and involve risks and uncertainties, and differ from actual results. The Company
has no obligation and does not revise any forward-looking statements to reflect future events/conditions.
This presentation material is made for informational purposes only and does not constitute or form part of any
solicitation, offer or invitation to purchase or subscribe to any securities of the Company in any jurisdiction or
form the basis, commitments and contracts of any kind, or any investment decision. Any decision to purchase
the Company's securities must be made by seeking appropriate professional advice.
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Outline of Discussion
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COMPANY CORE STRATEGY OPERATIONAL FINANCIAL
PROFILE BUSINESS AND OUTLOOK PERFORMANCE PERFORMANCE
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Company
Profile
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Company in Brief
Tapanuli Utara
Energy estimates:
51.2 GWh / year
MHPP Parmonangan 1 (2 x 4.5 MW) COD: July 13, 2017
Tapanuli Utara
Energy estimates:
PT Hero Global Investment Tbk (HGII) 59.1 GWh / year
MHPP Parmonangan 2 (2 x 5 MW) COD: May 28, 2021
Established in 2010, HGII is a national private company focused on
renewable energy. As a holding company, its core activities include
investment, development, and acquisition.
Ujung Batu
HGII manages subsidiaries that operate Mini Hydro Power Plants Energy estimates:
(MHPP) with 19 MW of total capacity. HGII also holds minority stake in 21.0 GWh / year
3 MW Biogas Power Plant (BGPP) through corporate investment. BGPP Ujung Batu (3 x 1 MW) COD: April 20, 2023
Moving forward, HGII aims to secure 100 MW of contracted capacity
by 2031.
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Board of Commissioners
Teddy Kazuichi Ratna
Thamrin Ikeda Ningsih
Chandra
President Commissioner Independent
Commissioner Commissioner
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Board of Directors
Robin Hugo Feber Anche Shingo Ando
Sunyoto Parluhutan Anthonius
Silalahi
President Director Director Director
Director
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IPO Highlights
Stock code : HGII
The Proceeds : IDR 260 billion
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Pricing : IDR 200 per share
th Number of shares issued:
1,300,000,000 shares
IPO The use of IPO proceeds:
67% construction and working capital of HPP 25 MW - SSE
in 2025 31% construction and working capital of MHPP 10 MW - MHE
2% working capital for HGII
SSE : PT Siantar Sitanduk Energi
MHE : PT Multiprima Hidro Energi
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Shares Ownership
*Shareholders ownership >5% as of 31 May 2025
Public SEP International
19.845% Netherlands B.V.(SEPI)
25%
Hendrianto Thamrin
18.15%
Rudy Chandra
18.7%
Robert Njo
18.15%
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Group Structure
CONTROLLING SEP International Netherlands B.V.
SEPI SHAREHOLDERS PUBLIC
(SEPI), a subsidiary of Shikoku Electric
Power Company Incorporated (Yonden),
has made its inaugural investment in
55,0%
25,0% 19,845%
Indonesia by becoming a strategic
partner in PT Hero Global Investment
Tbk.
HOLDING COMPANY
This marks not only SEPI's first entry
into the Indonesian market but also its
99,99% 100% 5% 100% 90% first investment in a holding company.
PT. Seluma Clean PT. Bina Godang PT. Pasadena Biofuels PT. Siantar Sitanduk PT. Multiprima Hidro
Energy Energi Mandiri Energi Energi
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Core
Business
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Why Invest HGII
01 Rising demand of electricity Indonesia
Electricity sales grow by 5.4%/year
06 Long-term contract with PLN
Spanning for 20-25 years of contract
02 Favorable regulatory direction
NZE in 2060 and energy mix 73.6%
07 Resilient production during El Nino
Production grew CAGR* 12.4%
03 Enormous potential of NRE
Low utilization rate 0.3% in Indonesia
08 Strong net profit growth
Increased by 44.9% YoY to IDR 37.9 bn**
Utilized only 13.8 GW out of 3,687 GW NRE potential
04 Strategic partnership with SEPI
SEPI, subsidiary of Yonden Group, a renowned
09 Experienced Management team
Having more than a decade of experience in
Japanese company with >1 GW of NRE portfolio hydro power plant industry
05 Business and risk diversification
Aiming for 100 MW by 2031 from various
10 Robust Good Corporate Governance
ISO 9001, ISO 14001, and ISO 45001
NRE projects certifications in progress for HSE excellence
* CAGR 2021-2024
** 12M 2024 performance
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Business Model
Power Purchase
Debt
Agreement (PPA)
Financing
Project PLN
Lenders Power Purchase Agreement (PPA) is an
agreement or contract between a buyer of
electricity (PLN) and an electricity supplier
(IPP).
Independent
Power
Independent Power Producer (IPP) is a
Producer
private entity that develops, owns, and
(IPP)
operates power generation facilities and
sells electricity to end-users (PLN), typically
under long-term contracts (PPA)
Project
Contractors
Sponsors
Equity
Financing EPC / O&M
Contract
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Vigorous Energy Mix Target Favorable new and
73.6% renewable
energy industry outlook
● Net Zero Emission by 2060
○ Initial USD20 bn aid to phase out coal
energy from JETP
○ Accelerating the shift from non-
renewable to renewable energy
15.7% 17.9% 17-20%
14.5%
13.1% 14.1%19.5% ● Decarbonization pathways by 2030
12.2% 12.3%
○ Emissions reduction target in NDC
- Unconditionally: 31.9%
- Conditionally: 43.2%
○ Boost 2 million of electric vehicle
2021 2022 2023 2024 2025* 2060*
● The “Greenest” RUPTL 2025 - 2034
Realization Target ○ Additional 69.5 GW
○ ~76% from NRE
Source: Ministry of Energy and Mineral Source (KESDM) as of Dec-24
*Draft Government Regulation (RPP) on the National Energy Policy (KEN), agreed on 5 ● Current Indonesia NRE landscape
February 2025 ○ Only 0.3% of the NRE potential has been
utilized, leaving ample room for growth
Abbreviations: ○ Specifically to HPP, only 7.1% of the
● JETP : Just Energy Transition Partnership hydro potential has been utilized
● NDC : Nationally Determined Contribution
● NRE : New and renewable energy
● RUPTL : Electricity Supply Business Plan 14
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Indonesia Renewable Energy Potential
Indonesia has enormous renewable energy
potential, with a total capacity of 3,678 GW, yet
only 13 GW, or approximately 0.3%, is currently
being utilized.
This leaves significant room for growth,
especially in the hydro sector, where the
potential is 95 GW, but only 6 GW has been
harnessed so far.
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Business Overview
PLN's Electricity Supply
Business Plan (RUPTL) for
2025-2034
● Additional capacity of 69.5 gigawatts (GW)
○ Increase the share NRE in the national
energy mix from 14.1% in 2024 to 35% by
2034
● 76% of electricity supply to come from
renewable energy by 2034.
○ Total of 42.6 GW from renewable energy
○ 11.7 GW from hydropower
● Total investment opportunities Rp 2,133.7
Source: Kementerian Energi dan Sumber Daya Mineral Republik Indonesia
trillion
○ Around 73% allocated for IPP
○ Total of Rp 1,566.1 trillion towards IPP
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Regional Distribution
Sumatera gets
majority allocation
for hydro-powered
Power Plants
● Total of 9.5 GW of NRE in
Sumatera for 2025-2034
○ HPP/MHPP: 4.94 GW
○ GPP: 2.02 GW
○ BGPP: 0.06 GW
○ NPP: 0.25 GW
○ SPP: 1.6 GW
Abbreviations:
● HPP : Hydro Power Plant
● MHPP : Mini Hydro Power Plant
Source: Kementerian Energi dan Sumber Daya Mineral Republik Indonesia ● BGPP : Biogas Power Plant
● NPP : Nuclear Power Plant
● SPP : Solar Power Plant
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PLN Jawa, Madura, Bali
Transmission 13.889 kms
& Main
Substations
According to RUPTL 2025-
2034 Transmission
Sumatera, Kalimantan
20.967 kms 47. 758
Main Substations
kms
107.950
MVA
Sulawesi, Maluku, Papua
12.901 kms
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Corporate Strategy
1 Maintaining strong relationships with PLN
NRE Pipeline Project of HGII
2 Leveraging local potential and
government support
3 Expanding into other NRE sources
Hydro Biomass Biogas Solar
4 Engaging competent and experienced 58 MW 8 MW 6 MW 10 MW
professional services
HGII aims to secure 100 MW of contracted
capacity by 2031 coming from NRE power plants.
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Our Milestones and Outlook
Hit all-time high
Start of production
Start of CSPA of 25%
construction construction
Achieving
COD BGPP Ujung HGII shares by
Parmonangan-1 Parmonangan-2 Batu 3 MW Yonden Group 100 MW
2010 2015 2017 2019 2021 2023 2024 2025 2031
Company COD MHPP COD MHPP IPO SEPI 25%
establishment Parmonangan-1 Parmonangan-2 shareholder
9 MW 10 MW Jan-25 1Q25
SEPI: SEP International Netherlands B.V. - subsidiary of Yonden
COD: Commercial Operation Date
PPA: Power Purchase Agreement
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Corporate Action
Strategic Partnership
with Yonden Group
Yonden Group owns NRE power
plants portfolio more than 1,000
MW in Japan. This collaboration
with Yonden opens a vast
opportunity for HGII to expand its
renewable energy portfolio and
become more proactive in achieving
Net Zero Emission by 2060.
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Strategic Investor in Brief
SEP International
Netherlands B. V. (SEPI)
● Subsidiary of Shikoku Electric Power
Company, Inc “Yonden”
● Listed company in Tokyo Stock Exchange
“TYO 9507”
● Total equity capacity of approximately
1,110 MW overseas; Qatar, Oman, Chile, the
United States, the United Arab Emirates,
Myanmar, Vietnam and Saudi Arabia.
● Diversified to renewable energy — solar,
hydro power, and wind power.
● Optimistic to reach an annual profit level of
- 4 billion yen in FY 2025
- 8 billion yen in FY 2030
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ESG Commitment
Strengthening social contribution to Desa Manalu Dolok, North Tapanuli, North Sumatra.
Public facilities infrastructure
● Improving damaged roads
● Donating street lights
● Developing religious center
Local economic independence
● Supporting of agricultural production
support facilities for 91 households
Education
● Provision of educational supplies
to 298 students
Social security
● National Social Security Agency for
Employment (BPJS Ketenagakerjaan)
assistance to 101 vulnerable workers
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Sustainable Development Goals
- Ensuring the - Implementation - Reduction of - Garbage - Participation in
provision of of Occupational greenhouse gas management to climate change
Company’s Policies and
clean and Health & Safety emissions (clean create clean and mitigation
affordable (OHS) industry). healthy through
energy. regulations. surrounding Company’s
environment. business
Activities
- Use of natural - Absorption of - Development of activities.
light local labor to innovations that - Absorption of
(sunlight) encourage encourage local labor to - Reduction of
during economic increased encourage greenhouse gas
morning to growth in the industrial economic growth emissions.
afternoon surrounding competitiveness in the surrounding
hours. area of and quality of area of the - Energy efficiency
operations. products and operations implementation
customer within Company
services. operations.
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Operational
Performance
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Run-of-River Hydro Power Plant
3. Sandtrap
1. Weir
4. Waterway
2. Intake
5. Headpond
6. Penstock
7. Power house
8. Tailrace
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Biogas Power Plant
1. Cooling pond
2. Mixing pit
4. Scrubber 3. Anaerobic digester
5. Dehumidifier
7. Gas flare
6. Gas power generator
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Current Projects and Pipeline
Pipeline HPP : Hydro Power Plant
HPP SS 25 MW MHPP LSM-1 3 MW SPP LSM-2 10 MW
Operation MHPP : Mini Hydro Power Plant
HPP TP 20 MW MHPP PM-1 9 MW MHPP PM-2 10 MW SPP : Solar Power Plant
BGPP : Biogas Power Plant
MHPP LO 10 MW BGPP UB-1 3 MW BMPP UB-2 5 MW BMPP : Biomass Power Plant
22MW
82MW
BGPP BTJM 2 MW BMPP SAND 3 MW
BGPP BBNM 2 MW BGPP KNDM 2 MW
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Electricity Production CAGR 12.4% YoY
12M 2024 -10.4% YoY from 107.2 thousand MW Our commitment to reduce carbon emission
CAGR* 12.4%
in 2024
65,072.5 ton
2.8 million
This calculation of carbon emission reduction is
based on existing Indonesian grid's emission
factor, referencing Climatiq at 0.7177 tonnes of
CO2e/MWh.
*CAGR 2021-2024
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Financial
Performance
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Operating Revenue Declines 7.1% YoY until March 2025
Operating
Gross Profit Net Income
Revenue 1Q 2025 -8.76% YoY to IDR17.4 bn 1Q 2025 -14.39% YoY to IDR6.9 bn
1Q 2025 -7.1% YoY to IDR20.8 bn
Consistent operating revenue and net income, supported by in billion IDR
long-term PPA to ensure continuous income flow.
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Healthy Financial Foundation
Asset Liability Equity
1Q 2025 34.59% YoY 1Q 2025 -5.73% YoY 1Q 2025 +54.2% YoY
to IDR963.3 bn to IDR221.1bn to IDR742.2bn
● Solid balance sheet in billion IDR
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Cash Flow Statement
Cash Flow from Cash Flow from Cash Flow from
Operating Investing Financing
1Q 2025 +162.3% YoY to IDR13.4 bn 1Q 2025 +162.3% YoY to IDR13.4 bn 1Q 2025 +162.3% YoY to IDR13.4 bn
● Increase in cash receipts from
customer in 2022 and 2023 ● In 2024, the Company invested Rp ● Increase in payment of bank loans in
10.2 billion to subsidiary company 2022
● Decrease in cash paid to contractors
and suppliers in 1Q 2025 compared ● In 1Q 2025, the Company receives Rp
to 1Q 2024 256 billion from IPO proceeds
● Maintaining operating cash flow to
in billion IDR 32
stay positive
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Thank You
PT Hero Global Investment Tbk
JI. Setiabudi Tengah No. 22,
Setiabudi, Kuningan, Jakarta Selatan 12910
Tel (+62-21) 522 7533
Fax (+62-21) 525 0019
corporate.secretary@heroglobalinvestment.com
www.heroglobalinvestment.com
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Names mentioned 16 people and organisations named in the text · linked when the evidence is strong
unresolved
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PT Siantar Sitanduk Energi MHE
p.8
unresolved
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PT Multiprima Hidro Energi
p.8
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Netherlands B.V.
p.9
unresolved
org
SEP International Netherlands B.V.
p.10 ×2
unresolved
org
PT. Seluma Clean
p.10
unresolved
org
PT. Bina Godang
p.10
unresolved
org
PT. Pasadena Biofuels
p.10
unresolved
org
PT. Siantar Sitanduk
p.10
unresolved
org
PT. Multiprima Hidro Energy
p.10
unresolved
org
Ministry of Energy and Mineral Source
p.14
unresolved
org
Kementerian Energi dan Sumber Daya Mineral Republik Indonesia
p.16 ×2
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