KKR, Warburg Pincus, Farallon and Capital Group Private Markets Make Substantial Investment in GO-JEK, Indonesia’s Leading On-Demand Mobile Platform

Largest Single-Round Fundraise by Financial Investors for a Southeast
Asian Technology Company

SINGAPORE–(BUSINESS WIRE)–A consortium of global investment firms announced today the signing of
definitive agreements to make a substantial investment in GO-JEK,
Indonesia’s leading on-demand mobile platform. This equity capital raise
of over $550 million, which represents the company’s latest round of
financing, is comprised of leading investors including KKR, Warburg
Pincus, Farallon Capital and Capital Group Private Markets, as well as
existing shareholders and other international investors. Previous
investors include Sequoia India, Northstar Group, DST Global, NSI
Ventures, Rakuten Ventures and Formation Group.


The growth capital injection will help enhance the scale and quality of
GO-JEK’s on-demand platform and application services, which have leading
positions across multiple verticals. Among GO-JEK’s services are
motorcycle ride-hailing, online food delivery, instant courier
deliveries and lifestyle services, as well as services in the fast
growing e-wallet and car ride-hailing segments. Each of these services
addresses the daily needs of Indonesian urbanites. GO-JEK will
additionally leverage the new investors’ investment experience in the
telecommunications, media and technology (“TMT”) space as well as their
global network of partners to deepen its offerings in Indonesia and
potentially across the region.

Terence Lee, Director at KKR Asia, said, “GO-JEK is unique in its
ability to be the number-one service provider across almost all key
categories and the company has a real opportunity to strengthen its
position as a leading mobile platform in Indonesia. The foundation of
GO-JEK’s success is its focus on providing innovative, convenient and
cost-effective online solutions that improve its customers’ everyday
lives. This ingenuity is the result of the innovation, vision and
execution of Nadiem and his high caliber team and we look forward to
continuing to attract world-class talent to one of the world’s most
dynamic tech companies.”

Jeffrey Perlman, Head of Southeast Asia for Warburg Pincus,
said, “We are excited to partner with Nadiem, Kevin, Andre and the
entire GO-JEK management team. With a rapidly expanding middle class,
increasing urban density and a young demographic that is internet savvy,
GO-JEK is well positioned to become the ‘go to’ platform for high
frequency daily services including transport, food, logistics and
payment. We look forward to leveraging our global network of partners
and experience in the technology and consumer sectors to help the
company build the leading internet platform in Indonesia and across the
region.”

GO-JEK’s mobile applications have been downloaded more than 20 million
times as of June 30, 2016. In June 2016 only, there were over 20 million
bookings on the GO-JEK platform, translating to roughly eight bookings
per second being processed in that month.

Nadiem Makarim, Co-Founder and CEO of GO-JEK, said, “We are
extremely humbled and excited to work with such world-class partners.
KKR, Warburg Pincus, Farallon, Capital Group and other participants in
this fundraise not only bring global experience in the TMT sector, but
they are also experienced local partners. With their support and
investment, GO-JEK is poised to build on its initial success to become
the largest on-demand application of choice for all Indonesians and
improve the daily lives of more than 200,000 motorcycle and car driver
partners, more than 35,000 GO-FOOD merchants whose businesses we helped
grow and more than 3,000 service providers on our other on-demand
services.”

Andre Soelistyo, GO-JEK Group CFO and Head of Strategy, added,
“We are proud and honored that we have been given the opportunity to
push Indonesian society forward with technology and empower the hundreds
of thousands of micro entrepreneurs on our platform across the entire
nation with the potential to further expand our services across the
region.”

Indonesia, with the world’s fourth-largest population of more than 250
million people, is rapidly becoming a digital nation. Indonesia has 88.1
million active internet users and 36 percent of the population carry
smartphones. Launched in January 2015, GO-JEK is the first Indonesian
mobile platform that touches across socio-economic classes and verticals
at a high transaction frequency that includes transportation, food
delivery, same-day delivery, grocery shopping, household cleaning,
beauty and health and ticket sales.

It has a leading position in each of the verticals today and is
constantly expanding and deepening its offerings. GO-JEK’s motorcycle
transport service, GO-RIDE, is the biggest service of its kind in
Indonesia with more than 200,000 drivers. Outside of motorcycle
transport, GO-FOOD is the second largest on-demand food delivery service
in the world outside of China with over 15 million meals delivered since
inception.

GO-PAY, launched in April 2016, is now a fast-growing e-wallet solution
in Indonesia. With credit card penetration in Indonesia at under 2% and
online payment nascent, GO-PAY is essential in enabling a seamless
transaction experience on GO-JEK services. GO-JEK and GO-PAY are
best-positioned to capture wallet share from a growing online user base.

KKR makes its investment from its Asian Fund II. Warburg Pincus makes
its investment from an affiliate of Warburg Pincus Private Equity XII,
L.P. The transaction is subject to customary approvals. Additional terms
of the transaction are not disclosed.

About KKR

KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners’ capital and brings opportunities to others through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and
on Twitter @KKR_Co.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on
growth investing. The firm has more than $40 billion in private equity
assets under management. The firm’s active portfolio of more than 120
companies is highly diversified by stage, sector and geography. Founded
in 1966, Warburg Pincus has raised 15 private equity funds, which have
invested more than $55 billion in over 750 companies in more than 40
countries.

Warburg Pincus is one of the earliest global private equity investors to
invest in Asia in sectors including technology, healthcare and consumer,
energy and industrials, financial services and real estate. Since 1994,
the firm has invested over $10 billion in more than 140 companies in
China, India and Southeast Asia. Warburg Pincus invested and supported
the growth of many house-hold brands and companies in Asia such as
58.com, Amcare, ANE Logistics, CAR Inc., e-Shang, Koudai Shopping,
Nirvana, Quikr, Red Star Macalline, UCAR, Uxin, Vincom Retail and ZTO.
For more information, please visit http://www.warburgpincus.com.

About Farallon

Farallon Capital Management, L.L.C. is a global institutional asset
management firm founded in 1986, and has been a U.S. Securities and
Exchange Commission (“SEC”) registered investment adviser since 1990.
Farallon manages equity capital for institutions, including college
endowments, charitable foundations, sovereign wealth funds and pension
plans, and for high net worth individuals. Farallon invests globally
across asset classes, seeking to achieve superior risk-adjusted returns
through a process of bottom-up fundamental analysis that emphasizes
capital preservation. Headquartered in San Francisco, Farallon has
offices in Singapore, London, Hong Kong, Tokyo, and São Paulo.

Farallon has been investing in private and special situation investments
in Asia for more than 15 years, and believes it has a proven reputation
as a differentiated provider of capital based on its experience,
locally-based teams, long track record, flexible investment strategy,
and rigorous investment process. For more information, please visit www.faralloncapital.com.

About Capital Group Private Markets

Founded in 1992, Capital Group Private Markets is an affiliate of the
Capital Group Companies, a leading global investment organization, and
is an experienced leader in building a diversified global emerging
markets private equity portfolio. Capital Group Private Markets has
invested over US$5 billion in more than 80 companies across global
emerging markets and is currently investing its sixth generation global
emerging markets private equity fund (CIPEF VI). Capital Group Private
Markets is already a major investor in the Asian APP-based ride services
sector. For more information, please visit www.thecapitalgroup.com/pe.

About GO-JEK

GO-JEK is the leading on-demand mobile platform and application services
that provides an extensive range of services, including transportation,
logistics, payments, food delivery and other on-demand services, by
connecting its millions of customers to more than 200,000 of motorcycle
and car driver partners, more than 35,000 food merchants and more than
3,000 service providers. GO-JEK’s operations are based on three main
values: speed, innovation, and social impact. The Company currently
operates in 14 cities, including Jakarta, Bandung, Surabaya, Bali,
Makassar, Medan, Palembang, Semarang, Yogyakarta, Balikpapan, Malang,
Solo, Manado and Samarinda. The GO-JEK application is available for iOS
and Android, and can be downloaded via www.GO-JEK.com/app.

Contacts

Media:
KKR Asia
Anita Davis, +852 3602 7335
Anita.Davis@KKR.com
or
KKR
Americas
Kristi Huller, +1 212-230-9722
Kristi.Huller@KKR.com
or
Edelman
Indonesia (For KKR)
Edward Parker
Edward.parker@edelman.com
or
Andre
Pianaung
Andre.pianaung@edelman.com
or
For
Warburg Pincus

Mingxia Li, +86 10 59232569
Mingxia.li@warburgpincus.com
or
For
Farallon

ASC Advisors, LLC
Steve Bruce/Taylor Ingraham, +1
203-992-1230
or
For GO-JEK
IDEA Group Indonesia
Aziz
Hasibuan, +62811 1919 033
AzizHasibuan@ideagroup.co.id
or
For
Capital Group Private Markets

Tom Joyce, +1-213-615-0514
Tom.Joyce@capgroup.com