Dear Shareholders and Stakeholders,

Thanks be to God for abundant mercies and grace upon us

We have just celebrated Chinese New Year 2021 which is the Year of the Ox that symbolizes firmness, followed by the celebration of Saka New Year 1943 marks the awakening the moment to rebound and fully conscious and always be grateful.

The ongoing vaccination process, makes us optimistic to be more active in carrying out activities while following health protocols in accordance with government directives. The vaccination period is a good time for the property sector to start accelerating its business. The property sector is adapting products and services and accommodating market behavior that has changed from the Covid19 pandemic to preparing for the end of the pandemic. We implement Cleanliness – Health – Safety – Environmental Sustainability procedures in residential, shopping malls, edutainment and hotels.

Looking ahead, the economic outlook will continue to evolve quickly. Thank you to the government for providing stimulus to the economy, including the property sector. Bank Indonesia announced a decrease in the BI interest rate to 3.5% on 18 Feb 2021, and the Loosening of the Loan to Value (LTV) for property loans and Financing to Value (FTV) for property financing through Bank Indonesia regulation no 23/2/PBI2021 and the incentive policy for the new housing sector with PPN borne by the government based on the Minister of Finance Regulation (PMK) number 21 / PMK.010 / 2021, were welcomed by business players in the property sector including PT PP Properti Tbk. The property market is beginning to get the impact in the 1st quarter of 2021.

PT PP Properti Tbk continues the handover activities of 7 vertical residential locations, dominated by student residences, which have been taking place since the fourth quarter of 2020. The behavior of residents who prefer open air to exercise and leisure activities, we respond by adding green areas in mixed used areas and open sports facilities in student residences. Currently we start to offer the development of landed house products, including Permata Puri Cibubur and soon will be followed by the next landed house product.

Business development that we do always pay attention to the needs of its residents, one of which is integrated between residential and daily needs equipped with edutainment. The concept we developed in the Grand Sungkono Lagoon Area which became a new lifestyle mall and edutainment destination in Surabaya. Mall Lagoon Avenue Sungkono and KidZania Surabaya, has been operating since December 2020 while serving in accordance with health protocols. Lagoon avenue Sungkono provides community needs for entertainment, food and beverages, social events, supermarkets and others.

PP Properti is present to develop several hotels located in Pekanbaru - Jakarta - Bekasi - Bandung - Surabaya - Balikpapan, which is a recurring income business.

In addition to the focus of business development, PP Properti continues to pay attention to the surrounding environment by conducting several Corporate Social Responsibility activities including organizing a Hospitality Short Course on February 16-17, 2021 in west Monjok subdistrict, Selaparang Subdistrict, Mataram City. The activity was organized by the General Manager hotel of PT PP Properti Tbk were present to share knowledge and try to increase the interest of Mataram youth in the field of tourism services.

Improved digital implementation has been done to accelerate and transparency of business processes and service delivery to customers. The Internet of Things is part of the solution in system management and product and service creation. Competency of human resources and information infrastructure & technology we always improve for the sustainability of the performance of PT PP Properti Tbk and resource excellence.

The Board of Directors would like to take a moment to share gratitude and to thank Shareholders, all stake holder, all resident owners, Consultants, contractors, designer and vendors, suppliers, work partners, hotel Guests, Mall visitors, Apartment tenants, for the many ways that each of you contributes each day to excellence services we provide to our Customers.

We value each and every member of our executive board and benefit from their expertise, leadership, compassion, and generosity. We thank them for making the lives of the people we serve matter. For their ability to see a better world. For being all that they are and doing all that they do.

Thank You. We appreciate your service and look forward to your continued guidance as we carry on 2021

Best Regards,

Sinur Linda Gustina M