Dear Shareholders and Stakeholders,

Thank you for the trust and support given to PT PP Properti Tbk that allow us to continue developing the business of providing and managing residential areas, shopping centres, edutainment and hotels.

As part of our event activities in December 2020, PT PP Properti Tbk, with the ticker PPRO, carried out a virtual Public Expose last December 3, 2020. On December 12, 2020, we also celebrated the 7th anniversary. We express our gratitude by visiting and donate to the Rawinala and Tresna Werdha Orphanages. We also share donation to the residents around the PPRO business location. We held a simple celebration at Grand Kamala Lagoon - Bekasi while implementing health protocols. During the to PPRO's anniversary, we also inaugurated the launch of Lagoon Avenue Sungkono and Kidzania lifestyle malls that locates in the Grand Sungkono Lagoon area of Surabaya. The handover of the residential project has been taking place since December 2020 for seven towers in Depok, Serpong, Surabaya, Malang and Semarang.

To support our performance achievement, we started the recycling assets process on adapting the company's portfolio to the market conditions. At the end of 2020, we have also done shares divestment on the office-business, that will continue as part of our 2021 work plan.

On the first semester of 2021, PPRO aims to manage the portfolio strategies, while continuing the market development and market penetration on the second semester. It is PPRO's corporate strategy to achieve our performance. Product remodelling to provide adaptive products carries out to adjust the market behaviour. Our highlights of PPRO products and services in the coming 2021 include developing the landed house projects, completing the under-construction area, and opening a new hotel at Lombok.

We improved the information and technology functions to create a lean organization and innovations to support the production and service process. Human resource development will also play a part in human capital activities on keeping the sustainability of products and services. This development process will continue to adapt following the Covid-19 pandemic situation while implementing a lifestyle concept that meets Cleanliness, Health, Safety and Environment (CHSE) regulations. In increasing the business activity, PPRO is also trying to restructure our funding.

The Board of Directors would like to thank the entire resident owners, tenants, hotel guests, visitors, consultants, contractors, suppliers, press media and all customers, together with our shareholders and stakeholders for supporting PT PP Properti Tbk. We also like to convey our highest appreciation to the employees on continuing to work and upholding AKHLAK (Amanah - Kompeten - Harmonis - Loyal - Adaptif - Kolaboratif) values; while continuously providing competencies that contribute to the success of PT PP Properti Tbk.

Have fun celebrating Christmas season and may we always be in peace.
Happy work and achieve new success in 2021.
Together, we always adhere to health protocols.

Best Regards,

Sinur Linda Gustina M