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Public Expose PT Sarana Menara Nusantara Tbk 28 August 2024 TOWR.JK / TOWRIJ www.ptsmn.co.id investor.relations@ptsmn.co.id
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SMN Investment Highlights
Premier digital infrastructure company in Indonesia
One of the largest digital infrastructure Continuous strong performance
companies in Indonesia with 31,049 (a)
5-yr Revenue CAGR 15.5%
towers and 220,975 km fiber* (a)
5-yr EBITDA CAGR 15.8%
Solid build-to-suit model for Sustained strong returns
towers and fiber with long-term ROI 8.6% and ROE 18.9%
predictable cash flows
TOWR shares included in
LQ 45, IDX ESG leaders,
Index Bisnis-27,
Investment grade ratings with S&P IDX-80
and Fitch with stable outlook MSCI ESG rating of AA,
MSCI Indonesia SMID Cap Growth
Index,
MSCI Indonesia ESG Leaders Index,
(b)
MSCI Indonesia Licensed Indexes
(a) CAGR = Compounded Annual Growth Rate; CAGR 2019 – 2024
(b) Latest reviewed LQ 45 (Feb 2024). IDX ESG Leaders (March 2024) . Inclusion into Index Bisnis-27 and IDX-80 in Feb-2024. MSCI ESG Rating (January 2024). MSCI Indonesia SMID Cap Growth Index and MSCI Indonesia ESG
Leaders Index (March 2024). MSCI Indonesia Licensed Indexes (April 2024)
* Including 186,571 kms revenue generating tower fiber
PT Sarana Menara Nusantara Tbk @2024 1
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TOWR strategy supports ESG & sustainability goals
1. Capital Management 2. Low-risk business 3. ESG-conscious company
- Access to low-cost funding - Digital infrastructure business with - Very small carbon footprint
- Liquidity amounts to $813 mn 1 as of high demand difficult to replace. - 95% of internet traffic in Indonesia
31 Mar 2024 - Proven enforceability of long-term is wireless
irrevocable contracts - Towers and fiber are important to
- Investment grade ratings from top rating
agencies inline with global best practice
reduce digital gap
4. Attractive industry structure 5. Most unique in asset class 6. Efficient infrastructure
provider
- Industry consolidating - Contracted revenue of Rp69.4 tn is
- Opportunities for acquisitions still exist largest in market - EBITDA and AFFO 5-year CAGR
with fragmented players - Attractively valued business with high of 15.8% and 14.9%, respectively,
annual recurring FCF that funds capex, with 2023 ROE of 18.9%.
dividend, share buybacks
- TOWR has been successful a
consolidator
Going into the future
A. Best positioned to benefit B. Improve Indonesia internet C. Prepared for new
from growth in internet opportunities
1. Internet speed and traffic have each 1. Proven successful track record in
1. Invest strong FCF and low cost of grown at 50% for the past year 3
capital. expanding product offering
2. Only 50% of Indonesia territory is 2. Strategy driven by evolving
2. Indonesia still in middle of 4G cycle
served with 4G signal 4 customer needs
3. Telco business for tower cos to include 3. Fixed-mobile converge & 5G
more SoW, asset types; inline with 3. Towers per capita ratio of 1:2700 is
represent another set of
TOWR strategies. roughly 1/3 that of USA or China 5
opportunities
1 includes committed or offered term sheets from financial institutions and cash in bank 2 USO is Universal Service Obligation. Government is mandating for nation-wide
telecommunication infrastructure spending to reduce digital gap 3 for 2020; adapted from industry sources 4 source: PT Telkom, September 2020. 5 source: Verdhana Sekuritas.
PT Sarana Menara Nusantara Tbk @2024 2
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The Industry
PT Sarana Menara Nusantara Tbk @2024 3
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Tower and Fiber Business
Long-term Predictable Revenue with Upside
Long-term contracts* (10 years for tower and can be longer
PREDICTABLE REVENUE
for fiber), non-cancellable and renewable
DEPENDENT TENANTS
Contract renewal likely due to high relocation cost and
significant network impact
UPSIDE FROM ADDITIONAL REVENUE
Incremental revenue from colocation or higher
asset utilisation at minimal additional cost
HIGH BARRIERS TO ENTRY Significant investment needed, as well as economies of scale,
knowledge of government rules and local conditions
• Surging data demand creates need for more towers and
FAST GROWING INDUSTRY fibers
• 4G consumers require reliable and high speed internet leading to
increase in FTTT
• Impact from 5G to come in 2-3 years
*ln general, lease price includes annual inflation escalator for opex portion
PT Sarana Menara Nusantara Tbk @2024 4
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Typical Tower Company Growth Model
New Built-to-Suit Tower Colocation Boosts ROI
Additional towers and contract renewals grow revenue Colocation boosts unlevered ROI and accelerates
payback period
Contract
renewals
*Assuming 10 years ground lease
** EBITDA minus 10% final tax divided by total capex
Assuming 100 existing towers with 10 year lease period, renewed at Year 11 with 5%
churn rate. Additional new site assumes 10 towers p.a.
# of Towers Rp mn Rp mn
250 35,000 400 30%
30,000
200
25,000 300
150 20,000 20%
100 15,000 200
10,000
50 10%
5,000 100
- -
Year Year Year Year Year Year Year Year Year Year Year
- 0%
1 2 3 4 5 6 7 8 9 10 11
1 Tenant 2 Tenants
# of tower Revenue Revenue EBITDA Unlevered ROI
PT Sarana Menara Nusantara Tbk @2024 5
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Update: Our Portfolio (Tower)
Jawa, Bali, NTT, NTB Sumatera Kalimantan Sulawesi Maluku & Papua
18,141 Tower 7,113 Tower 3,004 Tower 2,354 Tower 437 Tower
Total Tower: 31,049
PT Sarana Menara Nusantara Tbk @2024 6
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Update: Our Portfolio (Fiber)
SUMATERA JAVA BALI NUSRA KALIMANTAN SULAWESI
50,073 KM 119,496 KM 5,960 KM 4,374 KM 6,668 KM
Total Length: (220,975 km)
• FTTT: 186,571 km
• FTTH: 15,381 km
• Backbone and Submarine: 19,023 km
PT Sarana Menara Nusantara Tbk @2024 7
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SMN 1Q2024 Performance
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Company Strategy: Build – Buy – Return
We will maintain our position as a leading telecom infrastructure company and
continue to deliver optimal value to our stakeholders.
• Invest in Built-to-suit towers and
colocation.
• Expand fiber optic network, in
particular connectivity business
including Fiber to the home
During 12 months ended 1Q 2024:
BUILD (FTTH).
➢ Added 1,292 towers.
• Continue with tower fiberization
(FTTT), to support rapid data traffic
➢ Added 24,173 kms revenue generating fiber.
growth.
➢ Added 2,478 activations.
• Employ liquid balance sheet to
support continued strategic
BUY ➢ Added 100,918 home connect and 715,666
acquisition and expansion.
home passes.
➢ Maintained investment grade rating with stable
• Protect investment grade rating.
outlook.
RETURN • Retain dividend policy.
➢ Continuous dividend since 2017
PT Sarana Menara Nusantara Tbk @2024 9
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Diverse Product Portfolio
Currently we are the only tower provider that provides end to end services to teleco operators
TOWER Fiber to The Tower (FTTT) CONNECTIVITY
• Actively seeking opportunities to
• Total 31,049 towers and • FTTT increases the value and provide connectivity (with
54,170 tenants as of 31 utility of our network to Telcos. various offering using VSAT,
March 2024. Tenancy ratio wireless/wireline, etc.) under
1.74x. • ~186,500 kms revenue B2B or B2G arrangements.
generating fiber by end of Mar
• 52% of towers located in 2024. • Currently have 13,534
Java and 48% ex-Java. activations by the end of Mar
• Network focus to support 2024.
• MNOs have growing need for surging data traffic.
additional scope from Fiber to the Home (FTTH)
TowerCos tower providers • Like tower model, non-
such as managed service cancellable, long term • FTTH assets reaches
and additional assets such as ~1,062,000 home passes by
contracts and opportunity for
the end of Mar 2024.
batteries higher utilization with other
fiber solutions for customers. • Currently have 124,704 home
connect with 12% penetration
rate
There continued to be new Strong growth potential given low
Tower business offers a platform
organic site opportunities for penetration and increased
for sustained FTTT growth.
coverage and capacity. demand for integrated offerings.
PT Sarana Menara Nusantara Tbk @2024 10
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Diversifying Business Base
Capex Spend 2016- 2024
20,000 54,695 60,000
52,993
18,000
18,259 46,439 50,000
16,000 39,850
14,000
40,000
12,000
20,568
10,000 30,000
8,000 15,670
10,085 20,000
6,000 6,072
4,000 3,144 3,037 3,517
4,715 4,586 10,000
3,713 4,221
2,000 999 677 1,023 988 714
86 301 3,445
1,114 157
- -
2016 2017 2018 2019 2020 2021 2022 2023 Mar-24
Capex Towers (Left Axis) Capex Non Towers (Left Axis) Cummulative Capex (Right Axis)
Tenancy and Utilization Ratio
1.88 1.88
1.73
1.83 1.81
1.70 1.78 1.86 1.74
1.66 1.68 1.62 1.55
1.25 1.25
1.16
2016 2017 2018 2019 2020 2021 2022 2023 1Q2024
Tenancy Ratio FTTT Utilization Ratio
Note: Tower tenancy ratio and Fiber utilization ratio calculation does not include asset and operational synergies
between Towers, FTTT and FTTH business
PT Sarana Menara Nusantara Tbk @2024 11
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Track Record of Consistent Growth …
XL
towers
STP and
Hutch towers acquisition XL acq Bumen acq GIK acq (125
Hutch towers Hutch acq iForte acq KIN Acq Indosat Acq
(2,500 towers) (1,646
acq (5,085 towers) acq (421 towers) (1,369 towers)(1,000 towers) (6,943 towers) towers)
60,000 towers) 202,000
182,000
50,000
162,000
142,000
40,000
122,000
30,000 102,000
82,000
20,000
62,000
42,000
10,000
22,000
- 2,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q24
# Towers (Left Axis) # Tenancies (Left Axis) FTTT Km Generating Revenue (Right Axis)
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q24
# Towers 781 3,312 4,415 5,072 6,427 8,482 9,766 11,595 12,237 14,562 14,854 17,437 19,319 21,381 28,698 29,794 30,558 31,049
# Tenancies 984 5,137 7,282 8,365 10,798 14,849 18,322 20,138 21,038 24,144 25,011 28,319 33,346 39,127 53,975 53,967 54,284 54,170
FTTT Km Generating
2,345 21,977 36,346 70,465 149,811182,256186,571
Revenue
Number of Activations under
5,612 7,041 7,503 9,283 10,572 12,672 13,534
Connectivity
PT Sarana Menara Nusantara Tbk @2024 12
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and Strong Financial Performance
In Rp Bn
12,000
10,000
8,402 8,325
8,000 8,606
7,101
6,000
6,332
5,583
3,862
4,000 4,885 4,998 5,339 3,338
2,430
2,000 1,534
1,114
872
340 529
168
-
2016 2017 2018 2019 2020 2021 2022 2023 1Q24 Ann
Revenue Tower Revenue Non Tower EBITDA AFFO*
1Q24
2016 2017 2018 2019 2020 2021 2022 2023 CAGR
(Ann)
Revenue Tower 4,885 4,998 5,339 5,583 6,332 7,101 8,606 8,402 8,325 6.9%
Revenue Non Tower 168 340 529 872 1,114 1,534 2,430 3,338 3,862 47.9%
EBITDA 4,408 4,604 4,932 5,385 6,405 7,434 9,517 9,980 10,180 11.0%
AFFO* 3,009 3,213 3,348 3,776 4,774 5,525 6,210 6,375 6,502 10.1%
* AFFO = EBITDA – (Interest + Tax + Maintenance Capex)
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… with Excellent Future Revenue Visibility
Long term contracts and commitments underwrite more than Rp71.4 trillion of committed
future revenue through 2042, not including value of potential future contract renewals.
74,481
71,420
68,563 69,258 67,671
68,069 2,015
63,204
69,405
8,098
52,238 6,582
51,007
7,157
26,057
24,437
2017* 2018* 2019 2020 2021 2022 1Q23 2Q23 3Q23 4Q23 1Q24
Contracted committed
* 2017 & 2018 exclude committed revenue and renewals
PT Sarana Menara Nusantara Tbk @2024 14
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Strong Investment Grade Balance Sheet
Leverage comfortably within investment grade range despite acquisitions and dividend.
5.0
4.4 4.4 4.4 4.3 4.3
4.5 4.3 4.2 4.30 4.3
4.2
4.0
3.5
Net Debt to LQA
EBITDA (x)
3.0
2.4 2.5
2.4
2.5 2.1 2.2
2.1
2.0 1.8
1.6
1.5
1.5
1.0
0.5
0.0
2015 2016 2017 2018 2019 2020 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24
Acquisition of PT
Acquisition of PT Acquiired of Acquired Acquisition of PT Solusi
Komet Infra Acquired 1,646 XL Acquisition of FO
iForte Solusi 2,500 XL 1,000 Indosat Tunas Pratama and Acquisition of PT Organic sites for IOH and
Nusantara Towers assets from Alita
Infotek Towers Towers Bumen GIK (125 Towers)
(1,369 Towers) (~10,800 km fiber) enter into FTTH
(6,943 Towers)
1Q24 Credit Matrix
Gross Debt Rp44,772bn
Interest Coverage Ratio 3.8x
Average Interest Rate (as of 31 Mar 2024) 6.3%
Corporate Credit Rating (S&P/Fitch National/Fitch
BBB-/ AAA/BBB
Global)
PT Sarana Menara Nusantara Tbk @2024 15
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SMN 1Q2024 Summary of Financial Results
PT Sarana Menara Nusantara Tbk @2024 16
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Sarana Menara Nusantara (SMN) Group
Abridged consolidated statement of profit and loss.
(In RP Bn) 2017 2018 2019 2020 2021 2022 2023 1Q23 1Q24 yoy
Revenues 5,337.9 5,867.9 6,454.3 7,445.4 8,635.3 11,035.7 11,740.3 2,864.7 3,046.6 6.3%
Cost of revenues (277.4) (427.5) (458.3) (415.2) (480.4) (607.8) (684.5) (176.0) (194.8) 10.7%
Depreciation and amortization (894.9) (1,114.4) (1,349.6) (1,644.0) (1,859.8) (2,306.7) (2,843.3) (629.1) (730.0) 16.0%
Gross income 4,165.6 4,325.9 4,646.4 5,386.2 6,295.2 8,121.2 8,212.6 2,059.6 2,121.7 3.0%
Operating expenses (456.9) (508.5) (610.7) (625.3) (720.7) (911.3) (1,076.3) (249.8) (306.8) 22.8%
Operating income 3,708.7 3,817.4 4,035.7 4,760.9 5,574.5 7,209.9 7,136.3 1,809.8 1,814.9 0.3%
Other income
Interest income 68.1 33.9 39.1 33.6 24.7 23.4 20.5 5.5 6.6 19.3%
Finance charges (687.3) (872.3) (957.9) (1,090.6) (1,262.0) (2,276.4) (2,768.5) (708.7) (705.4) -0.5%
Finance charges (PSAK 73) - - - (110.7) (108.3) (115.5) (89.5) (30.3) (4.9)
Foreign exchange gains/(losses), net (2.4) (37.3) 56.0 (182.8) 8.9 (92.8) - (13.7) 1.8 -113.0%
(Impairment expense)/reversal of
allowance for impairment (139.7) 153.9 (103.0) 32.5 (13.5) (4.8) - - - #DIV/0!
Others, net (144.5) (143.9) (61.0) (44.0) (173.3) (284.6) (195.0) (57.1) (107.0) 87.5%
Other income / (expense), net (905.8) (865.7) (1,026.8) (1,362.0) (1,523.5) (2,750.6) (3,032.5) (804.3) (808.9) 0.6%
Profit before tax 2,802.9 2,951.7 3,008.9 3,398.9 4,051.0 4,459.3 4,103.8 1,005.5 1,006.0 0.0%
Corporate income tax expense
Tax expense (591.3) (695.8) (722.5) (691.6) (810.7) (930.4) (903.3) (231.3) (240.8) 4.1%
Deferred tax expense (111.5) (55.8) 66.7 146.3 207.6 (32.4) 103.2 9.4 37.2 294.3%
Total corporate income tax expense (702.8) (751.6) (655.8) (545.3) (603.1) (962.7) (800.2) (221.9) (203.5) 8.3%
Net Income 2,100.1 2,200.1 2,342.0 2,836.0 3,427.4 3,442.0 3,253.1 752.4 797.4 6.0%
EBITDA 4,603.4 4,931.8 5,385.3 6,404.9 7,434.3 9,516.6 9,979.6 2,438.9 2,545.0 4.4%
YoY Revenue growth 5.60% 9.9% 10.0% 15.4% 16.0% 27.8% 6.4% 9.4% 6.3%
Gross margin 78.0% 73.7% 72.0% 72.3% 72.9% 73.6% 70.0% 71.9% 69.6%
EBITDA margin 86.2% 84.0% 83.4% 86.0% 86.1% 86.2% 85.0% 85.1% 83.5%
Net income margin 39.3% 37.5% 36.3% 38.1% 39.7% 31.2% 27.7% 26.3% 26.2%
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Sarana Menara Nusantara (SMN) Group
Abridged consolidated statement of financial position.
(In RP bn) 2016 2017 2018 2019 2020 2021 2022 2023 1Q24
ASSETS
Current assets
Cash and cash equivalents 2,905.3 2,348.3 963.4 593.8 1,442.6 4,748.4 308.6 428.7 1,132.3
Restricted cash - - - 6.6 4.9 2.0 0.0 0.1 0.0
Trade receivables 351.7 624.0 821.0 1,347.6 1,240.1 2,171.3 2,557.8 3,086.3 2,421.3
Other current asset 337.5 77.4 490.9 526.5 314.7 476.5 784.7 911.8 997.7
Total current assets 3,594.5 3,049.7 2,275.3 2,474.4 3,002.3 7,398.1 3,651.1 4,426.9 4,551.3
Total non-current assets 15,192.3 15,713.8 20,684.2 25,191.3 31,247.2 58,430.5 61,974.0 63,992.1 64,768.9
TOTAL ASSETS 18,786.8 18,763.5 22,959.5 27,665.7 34,249.6 65,828.7 65,625.1 68,418.9 69,320.2
LIABILITIES AND EQUITY
Current liabilities
Current portion of long-term loans 516.7 633.8 1,732.8 1,944.8 4,073.9 15,432.2 8,062.6 11,072.2 11,506.1
Current portion of long-term bonds 998.7 - 657.9 - 35.9 1,008.2 1,113.9 7,252.2 4,503.1
Leasing payable - - - - 281.3 353.3 387.0 265.3 236.9
Other current liabilities 1,787.6 1,596.6 2,361.1 2,620.3 2,834.1 5,086.6 4,882.5 5,709.3 5,768.5
Total current liabilities 3,303.0 2,230.4 4,751.8 4,565.1 7,225.2 21,880.3 14,446.1 24,299.0 22,014.5
Non-current liabilities
Long-term loans, net of current portion 5,971.3 5,775.3 7,069.7 11,247.1 11,926.3 23,535.5 29,261.6 24,825.8 27,285.3
Bonds payable 2,432.2 2,589.6 2,023.4 1,976.3 2,148.7 4,463.3 4,556.4 1,317.5 1,318.9
Leasing payable - - 0.8 - 1,730.7 2,192.3 1,590.6 180.1 127.0
Other non-current liabilities 1,120.6 1,066.3 1,080.6 1,116.6 1,034.6 1,695.3 1,338.1 1,284.9 1,249.1
Total non-current liabilities 9,524.1 9,431.2 10,174.5 14,340.0 16,840.3 31,886.4 36,746.7 27,608.3 29,980.3
Total liabilities 12,827.1 11,661.6 14,926.3 18,905.1 24,065.5 53,766.7 51,192.8 51,907.3 51,994.9
Equity
Common shares 530.7 530.7 530.7 530.7 530.7 530.7 530.7 527.8 527.8
Treasury Stock - - (126.6) (514.1) (786.9) (931.4) -931.4 -931.3 -931.3
Share Based Payment - - - - - 23.9 64.9 92.3 99.1
Difference arising from transactions
resulting in changes in the equity of
subsidiary - - - - - (11.9) 38.4 0.0
Other comprehensive income (23.2) 24.6 81.4 2.8 44.6 25.7 62.1 78.8 72.8
Retained earnings / (accumulated deficit) 5,452.3 6,546.4 7,547.8 8,705.1 10,365.6 12,394.0 14,635.9 16,688.8 17,486.2
Non-controlling interests 0.1 0.1 - 36.1 30.0 31.0 31.8 55.3 70.8
Total equity 5,959.9 7,101.8 8,033.3 8,760.6 10,184.0 12,062.0 14,432.3 16,511.7 17,325.3
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Sarana Menara Nusantara (SMN) Group
Abridged consolidated statement of cashflows (1Q 2024).
in Rp Bn
* Numbers included VAT
** Including ground lease
*** Integra and ATMI Acquisition
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Profit and Loss Movement 1Q2024
in Rp Bn
Revenue EBITDA Net Income
3,046.6 2,562.8
2,545.0
3,021.0
-30.1 (-3.6%)
-17.8 (-0.7%)
+25.6 (0.8%)
752.4 827.5 797.4
2,438.9
2,864.7
+181.9 (6.3%) +106.1(4.4%)
45.0 (6.0%)
1Q23 4Q23 1Q24 1Q23 4Q23 1Q24
1Q23 4Q23 1Q24
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Revenue Analysis (1Q2023 vs 1Q2024)
in Rp Bn
3,047
1Q23 1Q24 2,865
2,061 2,081
FTTT Connectivity** Total
TOWER* FTTH
Growth Decline Growth
Growth Growth
15.5% 2.3% 6.3%
1.0% 997.5%
412 476 380 371
11 118
Tower FTTT Connectivity FTTH Total
* Including managed services
** Including iFortepay
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Summary Operational Data (1Q23 vs 1Q24)
Towers Tenancy
31,049
29,757 54,170
53,820
#of Tenancy
#of Towers
+350 (0.7%)
+1,292 (4.3%)
1Q23 1Q24 1Q23 1Q24
FTTT Connectivity FTTH
13,534 124,704
186,571 11,056
#Home Connect
+100,918(424.3%)
#Activations
162,399
Kms
+2,478(22.4%) 23,786
+24,172 (14.9%)
1Q23 1Q24 1Q23 1Q24 1Q23 1Q24
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Appendix
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Foreign Exchange Exposure as of 31 Mar 2024
Low risk from FX exposure as balance sheet is hedged.
Risk Mitigation:
• USD financial assets and USD contracted revenue provide natural hedge for liabilities denominated
in foreign currencies
• Incremental borrowing of the Company has been done in Rupiah, or in some cases where there are
USD borrowing, financial hedges are then employed
• USD debt maturing 2025, 2028 and 2029 are covered with financial hedges at Rupiah to USD
exchange of 14,510, 15,000 and 15,000, respectively
ASSET CONTRACTED REVENUE LIABILITIES
Cash USD 151.2mn 2024 - USD 1.3mn Bond
USD 138mn
Total USD 151.2mn Total - USD 1.3mn Total ~USD 138mn
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Long Term Debt*: 56.1% floating, 43.9% fixed, avg. interest 6.3%
• Incremental borrowing of the Company has been done in Rupiah, or in some cases
where there are USD borrowing, financial hedges are then employed.
• USD debt maturing 2025, 2028 and 2029 are covered with financial hedges at Rupiah
to USD exchange of 14,510, 15,000 and 15,000, respectively.
Maturity Profile
* USD loan hedged into IDR
in Rp Billion
843 4,691 3,453 1,742 584 7,797 5,453 2,300 1,434 4,379 1,585 34,261
9,000
744
7,500
6,000
USD 138mn
4,500
7,053
3,000 5,453
798
USD 34.8mn* 4,379 USD 100.0mn*
1,593 3,453 USD 40.0mn*
1,500
136 2,300
441
980 1,055 800
- 45 143 -
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2024 2025 2026 2027 2028 2029
IDR Loan IDR Bond USD Loan USD Bond
• As of Mar 2024
• BI Middle rate as of March 2024: 1USD = IDR15,853 ; 1JPY = IDR104.51
PT Sarana Menara Nusantara Tbk @2024 25
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Q&A
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This presentation material has been prepared solely for use in a presentation to be made by PT Sarana Menara Nusantara Tbk (the “Company”). This presentation material
and any information contained herein is highly confidential and may not be copied, reproduced, redistributed, transmitted or disclosed in whole or in part to any other person
in any manner. Any forwarding, reproduction or distribution of this presentation material in whatsoever form, in whole or in part, is unauthorized. Failure to comply with these
restrictions may constitute a violation of applicable securities laws. By attending this presentation, you are agreeing to be bound by the foregoing restriction and to maintain
absolute confidentiality regarding the information disclosed in these materials.
This presentation material or any oral information provided in connection with it has not been independently verified. The Company and its affiliates, directors, officers,
employees, agents and consultants make no representation, warranty or undertaking, whether express or implied, as to the accuracy or completeness of the content of this
presentation, and take no responsibility for any loss or damage suffered as a result of any omission, inadequacy or inaccuracy therein.
This presentation is not intended for potential investors and does not constitute a prospectus, offering circular or offering memorandum or constitute or form part of any offer
for sale or invitation, or solicitation of an offer, to subscribe for or purchase any securities (including under Law No. 8 of 1995 regarding the Capital Market) and neither this
presentation nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment or investment decision in relation to any
securities of the Company whatsoever in any jurisdiction. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or
comprehensive analysis of the financial or trading positions or prospects of the Company. The information and opinions presented or contained in this presentation are
provided as at the date of this Presentation and are subject to verification, completion and change without notice and the accuracy of the information is not guaranteed.
This presentation contains certain forward-looking statements that relate to future events and expectations which are, by their nature, subject to significant risks and
uncertainties. All statements, other than statements of historical facts contained in this Presentation, on the respective future financial position, strategy, plans, goals, and
targets, future developments are forward-looking statements and typically contain words such as “expects” and “anticipates” and words of similar impact. None of the
projections, expectations, estimates or prospects in this Presentation should be construed as a forecast implying any indicative assurance or guarantee of future
performance, nor that the assumptions on which such projections, expectations, estimates or prospects have been prepared are complete or comprehensive.
This presentation also contains certain statistical data and analyses (the “Statistical Information”) which have been prepared in reliance upon information furnished by the
Company and/or other sources. Numerous assumptions were used in preparing the Statistical Information, which assumptions may or may not appear herein. As such, no
assurance can be given as to the Statistical Information’s accuracy, appropriateness or completeness in any particular context, nor as to whether the Statistical Information
and/or the assumptions upon which they are based reflect present market conditions or future market performance.
© 2024 PT Sarana Menara Nusantara Tbk
PT Sarana Menara Nusantara Tbk @2024 27
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PT Telkom
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PT Solusi Komet Infra
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