BONDS AND NOTES continued a. Bonds

PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated 67

21. BONDS AND NOTES continued

b. MTN continued iii. Finnet Proceeds from issuance of MTN were used for the investment of hardware and software, project development and bridging loan payments for projects. Repayment of principal for the first phase MTN are 1 each month on the 7 th until 12 th month, 2 each month on the 13 th until 35 th month, and the remaining 48 will be paid on November 17, 2012. Repayment of principal for the second phase MTN are 2 each month on the following month until 35 th month and the remaining 30 will be paid on March 24, 2013. The MTN bear interest rates of 16.25 per annum. MTN are not secured by a specific collateral, but secured by all Finnet’s assets which are movable property or fixed property, either existing or in the future will become collateral for MTN holders and at all times ranked pari passu without any preference with other Finnet’s creditor privileges in accordance with prevailing regulations. Finnet may buy back all or part of the MTN at any time before the maturity date of the MTN. Based on the agreements, Finnet is required to comply with all covenants or restrictions including maintaining financial ratio as follows: 1. Debt to Equity maximum 2.5:1 only if MTN is given by Finnet to third party 2. EBITDA to Interest Ratio minimum 2.5. As of September 30, 2011, Finnet complied with the above mentioned ratios. Refer to Note 44 for details of related party transactions.

c. Promissory Notes

Interest Interest Principal Issuance Payment payment rate Supplier Currency in millions date schedule method per annum PT. ZTE US 100 August 20, 2009 Semi-annually Semi-annually 6 month LIBOR+2.5 Indonesia June 10, 2012 - “ZTE” February 11, 2014 PT Huawei Tech US 300 June 19, 2009 Semi-annually Semi-annually 6 month LIBOR+2.5 Investment September 19, 2010 - “Huawei Tech” February 25, 2014 Based on Agreement of Frame Supply and Deferred Payment Arrangement between the Company with ZTE and Huawei Tech, the promissory notes issued by the Company to ZTE and Huawei Tech is an unsecured supplier financing facility covered 85 of Hand Over Report “Berita Acara Serah Terima” or BAST projects with ZTE and Huawei Tech. PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated 68

22. BANK LOANS

December 31, 2010 September 30, 2011 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Lenders Currency in millions equivalent in millions equivalent The Export-Import Bank of Korea “Korea Eximbank” US 11.76 105,989 - - Bank Mandiri Rp. - 3,075,556 - 2,111,111 BCA Rp. - 2,755,556 - 2,291,111 BNI Rp. - 1,150,000 - 583,333 Bank CIMB Niaga Rp. - 24,215 - 74,506 BRI Rp. - 822,000 - 258,750 Bank Ekonomi Rp. - 79,378 - 66,997 US - - 0.42 3,714 Syndication of banks Rp. - 4,500,000 - 3,225,000 PT Bank OCBC Indonesia “OCBC Indonesia” Rp. - 177,600 - 155,400 OCBC NISP Rp. - 444,000 - 388,500 ABN Amro Bank N.V. Stockholm Branch and Standard Chartered Bank US 54.18 487,106 47.17 438,171 Industrial and Commercial Bank of China Limited “ICBC” US 46.36 416,783 40.47 374,912 Bank of China “BoC” US 17.68 158,959 18.83 166,635 Finnish Export Credit Ltd US 16.58 149,062 47.60 454,789 Japan Bank for International Cooperation “JBIC” US 53.90 485,907 46.02 421,615 BTN Rp. - 7,084 - - PT Bank Index Selindo “Bank Index” Rp. - 502 - 539 Total 14,839,697 11,015,083 Unamortized debt issue cost 105,245 96,450 14,734,452 10,918,633 Current maturities Note 19a 4,478,247 3,396,958 Long-term portion Note 19b 10,256,205 7,521,675 Refer to Note 44 for details of related party transactions.