COMPOSITION OF INDEPENDENT DIRECTORS AND COMMISSIONERS

297 PT Telkom Indonesia Persero Tbk Not all members of our Audit Committee are independent directors as required by Rule No. 10A-3 of the Exchange Act. We refer to the general exemption pursuant to Rule No.10A-3c3 regarding the composition of the Audit Committee. We believe that this does not materially afect the ability of the Audit Committee to act independently.

D. DISCLOSURE IN RELATION WITH CORPORATE GOVERNANCE

The NySE listing standard requires the U.S. companies to adopt and put on their website, the guidelines for the implementation of corporate governance. These guidelines, among other things, shall stipulate directors qualiication standards, director responsibilities, relations between directors with management and independent advisors, compensation for the directors, orientation and continuing education for the directors, management succession and annual work performance evaluation. Moreover, each year, the CEO of the U.S. company must certify to the NySE that heshe is not aware of any violations committed by the company with regard to the NySE corporate governance standard listing. Certiication must be disclosed in the company’s annual report to the shareholders. There is no disclosure requirement in the applicable Laws in Indonesia that is similar to the NySE listing standards described above. However, the Capital Markets Law generally requires Indonesian public companies to disclose certain types of information to their shareholders and to the FSA OJK, particularly information relating to the change of ownership of shares of public companies and material facts that may afect the decision of shareholders to maintain their stake in the said public company.

D. CODE OF ETHICS AND BUSINESS CONDUCT

The NySE listing standards require each listed companies in the U.S. to adopt and to post on their company’s website, the code of ethics and business conduct for the Board of Directors, officials and employees. No similar requirement under the applicable Laws in Indonesia. However, the company shall submit periodic reports to the U.S. SEC, which stated the implementation of the code of ethic by senior inancial oicials in the company.