20240531_APLN_Laporan Informasi dan Fakta Material_31645175_lamp2.pdf

PRESS RELEASE

                The Hospitality and Mall Businesses Are Increasingly Solid,
                    APLN's Recurring Revenues Continue to Increase

Jakarta, May 31st, 2024

PT Agung Podomoro Land Tbk. (ticker: "APLN" or "the Company"), the leading, integrated and trusted
property developer in Indonesia, managed to record recurring revenues of IDR346.2 billion in the
1Q2024, an increase of 2.5% from IDR337.8 billion in the same period last year. APLN's recurring
revenues are on an upward trend from year to year in line with the increasingly solid performance of the
hospitality and mall businesses and the strength of national economic fundamentals.

Throughout the 1Q2024, APLN also recorded marketing sales (excluding VAT) of IDR473.5 billion, an
increase of 95.6% from IDR242.1 billion in the same period last year. This is supported by the rapid
development and sales of the Company's property projects in various regions.

Corporate Secretary of PT Agung Podomoro Land Tbk. Justini Omas explained that APLN's recurring
revenues contributed around 48.6 percent of the Company's total sales and revenues throughout the
1Q2024. The company posted sales and revenues for the 1Q2024 of IDR712.8 billion compared to
IDR1.1 trillion in the 1Q2023.

"In the midst of a very dynamic national and global conditions, the increase in recurring revenues show
the stability and sustainability of the business segment that generates continuous revenues for the
Company. "This increase reflects the success of the Company's strategy in maintaining and optimizing
sources of income from the hospitality, property rental and malls businesses which consistently provide
positive contributions to financial performances," said Justini Omas in his official statement.

Justini emphasized that the Company continues to strive to strengthen business fundamentals through
various solid and measurable strategies both in terms of sales and revenues and cost management. On
sales and revenues, several initiatives have been carried out to optimize sales of APLN property projects
across regions in Indonesia. Strategic collaboration with various parties, one of which is banking, is
carried out to maximize people's purchasing power to make it easier to access the Company's property
products amidst the trend of high financing interest rates.

Indonesia's strong economic growth also creates opportunities for companies to maximize business
potential. “This shows that the Company is able to adapt and remain competitive amidst challenging
industry conditions. "The Company's high initiative in developing existing projects, hopefully, will continue
to increase the quality and value of existing projects and provide greater benefits for stakeholders,"
explained Justini.

Currently, APLN continues to optimize sales of property projects in areas such as Bukit Podomoro
Jakarta in the East Jakarta, Podomoro Park Bandung, Podomoro Golf View in Cimanggis, Kota
Podomoro Tenjo in Bogor, Parkland Podomoro Karawang and Kota Kertabumi Karawang.

APLN still owns and manages a number of premium malls in Jakarta and various big cities in Indonesia,
including: Central Park, Neo Soho, Senayan City, Kuningan City, Emporium Pluit, Deli Park Medan,
Baywalk, Festival CityLink Bandung, and Plaza Balikpapan. The company also owns a number of
premium hotels including Pullman Ciawi Vimala Hills, Pullman and Ibis Styles Bandung Grand Central,
Harris and Pop! CityLink Bandung Festival, Indigo Bali Seminyak, Amaris Thamrin City, and 101 Urban
Jakarta Kelapa Gading.

Justini added that in terms of cost management strategy, the Company is also trying to take various
efficiency measures in business operations, including reducing interest expenses and financial costs. In
the 1Q2024, the Company's interest expenses and financial costs were recorded at IDR110.2 billion, a