1. Another 7 frequently asked questions...
(..with the answers)

2. How's the integration going...?

5. 150K Ha

9. Shareholders
26%
5%
69%
RCI
BWI
Public

11. When will your fruit production increase YOY?

12. 60,000
80,000
100,000
120,000
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Nucleus fruit tons

14. What's the expansion strategy now?

15. Cash Flow

16. 20,000
30,000
40,000
50,000
60,000
2013 2014 2015 2016
Immature hectares

17. Why 1Q so bad ?

18. 4Q, 300k tons of fruit

19. 1Q, 265k tons of fruit

20. New mature hectares

21. Interest expense match w mature %
30%
70%
Mature
Immature

24. How to make Eagle high plantations forecast ?

26. Production forecast
Year Age Yield Production
1997
1998
1999 Prime 14,667
2000 13 up
2001
2002
2003
2004 Mature 15,386
2005 9 To 12
2006
2007
2008 Young mature72,280
2009 4 to 8
2010
2011
Total

27. Production forecast
Year Age Yield Production
1997
1998
1999 Prime 14,667 24 352,018
2000 13 up
2001
2002
2003
2004 Mature 15,386 20 307,718
2005 9 To 12
2006
2007
2008 Young mature72,280 12 867,361
2009 4 to 8
2010
2011
Total 1,527,097

28. Production forecast
Nucleus Fruits 1,527,097
OER 23.7%
KER 3.9%
FFB 6%

29. Production forecast
Nucleus Fruits 1,527,097
OER 23.7% 361,922
KER 3.9% 59,557
FFB 6% 91,626

30. Production forecast
Nucleus Fruits 1,527,097
OER 23.7% 361,922
KER 3.9% 59,557
FFB 6% 91,626
Price
Oil 8.0
Kernel 4.3
FFB 1.6

31. Production forecast
Nucleus Fruits 1,527,097
OER 23.7% 361,922
KER 3.9% 59,557
FFB 6% 91,626
Price
Oil 8.0 2,924,460
Kernel 4.3 2,346
FFB 1.6 148,074
Sales 3,074,880

32. Cash costs
2014
Fertilizing & maintenance 265,567
Harvesting 107,828
Mill 34,516
G&A 157,113
Plantation Cost 565,024

33. Cash costs
2014
Fertilizing & maintenance 265,567
Harvesting 107,828
Mill 34,516
G&A 157,113
Plantation Cost 565,024
Opex 158,733
Total cash cost 723,757

34. Cash costs
2014
Fertilizing & maintenance 265,567
Harvesting 107,828
Mill 34,516
G&A 157,113
Plantation Cost 565,024
Opex 158,733
Total cash cost 723,757
Mature Ha 40
Cash cost per ha 18
Note: GE Only

35. EBITDA
Cost per ha 18
Mature area ha 102,000
Total cash cost 1,836,000

36. EBITDA
Cost per ha 18
Mature area ha 102,000
Total cash cost 1,836,000
Sales 3,074,880
EBITDA 1,238,880

37. EHP Balance sheet
1Q2015
Mature plantation 6,822
Immature plantation 3,676
Addition to immature 107
PPE 73
Capex 180
Debt 7,398
Equity 6,886

38. EHP Balance sheet
1Q2015
Addition to immature 107
PPE 73
Capex 180

39. EHP Balance sheet
1Q2015
Addition to immature 107
PPE 73
Capex 180
Immature hectares 34.30
Capex per hectare 5.26
Annualized 21.04

40. 2015 capex
Rp. 21mn * 38k ha = Rp798bn

41. EBITDA & EBITDA - CAPEX
-2100
-1400
-700
0
700
2011 2012 2013 2014 2015

42. EBITDA & EBITDA - CAPEX
-2100
-1400
-700
0
700
2011 2012 2013 2014 2015

43. What's the impact of the El Niño?

44. Palm oil & El Niño
$0
$350
$700
$1,050
$1,400
1960 1970 1980 1990 2000 2010 2015
V strong
Strong
Moderate
Weak

45. When will the share price go up...more?

46. EBITDA & BWPT
4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q

47. Foreign Analyst EBITDA 2016
DBS Vickers 1,657
Credit Suisse 1,663
CIMB Securities 1,828
Average 1,716

48. EBITDA & BWPT
4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q

49. EBITDA & BWPT
4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q 2Q 4Q