ACCRUED EXPENSES 2012 Telekomunikasi Indonesia Eng

PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2012 AND FOR THE YEAR THEN ENDED WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2011 AND FOR THE YEAR THEN ENDED AND AS OF JANUARY 1, 2011 Figures in tables are presented in billions of Rupiah, unless otherwise stated 58

18. TWO-STEP LOANS continued

Since 2008, the Company has used all facilities under the two-step loans program and the drawdown period for the two-step loans has expired. The Company is required to maintain financial ratios as follows: a. Projected net revenue to projected debt service ratio should exceed 1.2:1 for the two-step loans originating from Asian Development Bank “ADB”. b. Internal financing earnings before depreciation and finance costs should exceed 20 compared to annual average capital expenditures for loans originating from ADB. As of December 31, 2012, the Company complied with the above mentioned ratios. Refer to Note 37 for details of related party transactions. 19. BONDS AND NOTES 2012 2011 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Bonds and notes Currency in millions equivalent in millions equivalent Bonds Series A Rp - 1,005 - 1,005 Series B Rp - 1,995 - 1,995 Medium Term Notes “MTN” PT Finnet Indonesia “Finnet” Rp - 8 - 18 Metra Rp - - 59 Sigma Rp - - 30 Promissory Notes PT Huawei US 46 445 60 545 PT ZTE Indonesia “ZTE” US 22 216 15 134 Total 3,669 3,786 Current maturities Note 17a 440 385 Long-term portion Note 17b 3,229 3,401 a. Bonds Interest Interest Listed Issuance Maturity payment rate Bonds Principal Issuer on date date period per annum Series A 1,005 The Company IDX June 25, 2010 July 6, 2015 Quarterly 9.60 Series B 1,995 The Company IDX June 25, 2010 July 6, 2020 Quarterly 10.20 Total 3,000 The bonds are secured by all of the Company’s assets, movable or non-movable, either existing or in the future Note 10d.x. The underwriters of the bonds are Bahana, PT Danareksa Sekuritas and PT Mandiri Sekuritas and the trustee is PT CIMB Niaga Tbk. The Company received the proceeds of the issuance of bonds on July 6, 2010.