Plasa Telkom and GraPARI

Year ended December 31, 2013 compared to year ended December 31, 2012 - An increase of Rp3,926 billion, or 57.3, in third party trade payable, and - An increase of Rp761 billion, or 27.9, in unearned income. This increase was partially offset by a decrease of Rp899 million, or 14.6, in accrued expense. b. Non Current Liabilities Non current liabilities were Rp22,090 billion US1,815 million as of December 31, 2013 and Rp20,284 billion as of December 31, 2012. Our non-current liabilities increase primarily due to an increase of Rp2,507 billion, or 138.2, in obligation under finance lease. This increase was partially offset by a decrease of Rp1,148 million, or 16.9, in bank loan. c. Equity Total equity increase by Rp10,446 billion, or 15.6, from Rp66,978 billion as of December 31, 2012 to Rp77,424 billion as of December 31, 2013. The increase of equity was primarily the result of increase of total comprehensive income for the year attributable to owners of the parent of Rp14,317 billion in 2013, the sale of treasury stock of Rp2,262 billion, paid in capital of Rp1,250 billion. This increase offset by cash dividend of Rp Rp7.068 billion. As a result of foregoing, our retained earnings increase by Rp5,851 billion, or 15.6 and total equity attributable to owner of the parent increase by Rp9,001 billion, or 17.5 from Rp51,541 billion as of December 31, 2012 to Rp60,542 billion as of December 31, 2013.

1. Assets a. Current Assets

As of December 31, 2013, our current assets were Rp33,075 billion US2,718 million compare to Rp27,973 billion as of December 31, 2012. The increase in current assets was mainly due to the increase of Rp2,534 billion, or 58.4, in other current financial assets and in cash and cash equivalents Rp1,578 billion, or 12.0, and our third party trade receivable of Rp604 billion, or 13.3. This increase was partially offset by a decrease of Rp426 billion, or 97.7, in claim for tax refund. b. Non Current Assets As of December 31, 2013 our non current assets were Rp94,876 billion US7,796 million and Rp83,396 billion as of December 31, 2012. This increase was primarily due to an increase in property, plant and equipment of Rp9,714 billion, or 12.6, and advance and prepaid expense of Rp1,784 billion or 50.8. This increase was partially offset by a decrease of Rp105 million, or 10.2, in prepaid pension benefit costs.

2. Liabilities dan Equity a. Current Liabilities

Current liabilities were Rp28,437 billion US2,337 million as of December 31, 2013 and Rp24,107 billion as of December 31, 2012. This increase was primarily due to: b. Non Current Liabilities Non current liabilities were Rp22,984 billion US1,856 million as of December 31, 2014 compare to Rp22,090 billion as of December 31, 2013. The increase was partially due to increase in bank loans of Rp2,243, or 39.8. This increase was partially offset by a decrease in bond and notes of Rp834 billion, or 27.1. c. Equity Total equity increase by Rp8,701 billion, or 11.2, from Rp77,424 billion as of December 31, 2013 to Rp86,125 billion as of December 31, 2014. The increase of equity was primarily the result of total comprehensive income for the year attributable to owners of the parent of Rp21,470 billion in 2014, the sale of treasury stock of Rp1,969 billion, increase in paid in capital by Rp576 billion. This increase offset by cash deviden of Rp9.943,6 billion. Our retained earnings increase by Rp4,695 billion, or 8.0, and total equity attributable to owner of the parent increase by Rp7,265 billion, or 12.0, from Rp60,542 billion as of December 31, 2013 to Rp67,807 billion as of December 31, 2014. 120 2014 Annual Report PT Telkom Indonesia Tbk Persero FINANCIAL AND PERF ORMANCE HIGHLIGHT MANA GEMENT REPOR T PREF A GENERAL INF ORMA TION OF TELK OM INDONE SIA MANA GEMENT’S DISCUSSION AND ANAL Y SIS CORPORA TE GO VERNANCE SOCIAL AND ENVIRONMENT AL RE SPONSIBILITY APPENDICE S INCOME STATEMENT OVERVIEW The following table sets out our Consolidated Statements of Comprehensive Income, itemized according to our main products and services, for the three years 2014 through 2012. Each item is expressed as a percentage of total revenues or expenses: As of December 31, 2014 2013 2012 Rp billion US million Rp billion Rp billion Revenues Telephone Revenues Cellular Usage charges 32,972 2,662 36.8 30,722 37.0 29,477 38.2 Features 751 61 0.8 686 0.8 558 0.7 Monthly subscription charges 567 46 0.6 730 0.9 696 0.9 Total Cellular 34,290 2,769 38.2 32,138 38.7 30,731 39.8 Fixed Line Usage charges 5,347 432 6.0 6,453 7.8 7,323 9.5 Monthly subscription charges 2,697 218 3.0 2,682 3.2 2,805 3.6 Call center 736 59 0.8 324 0.4 228 0.3 Installation charges 31 2 12 112 0.1 Others 70 6 0.1 230 0.3 194 0.3 Total Fixed Line 8,881 717 9.9 9,701 11.7 10,662 13.8 Total Telephone Revenues 43,171 3,486 48.1 41,839 50.4 41,393 53.6 Data, Internet and Information Technology Services Revenues Internet, data communication and information technology services 23,550 1,902 26.3 19,267 23.3 14,857 19.3 Short Messaging Service SMS 14,034 1,133 15.7 13,134 15.8 12,631 16.4 e-Business 103 8 0.1 83 0.1 55 0.1 VoIP 25 2 119 0.1 81 0.1 Total Data, Internet and Information Technology Services Revenues 37,712 3,045

42.1 32,603

39.3 27,624

35.9 Interconnection Revenues

4,708 380

5.3 4,843

5.9 4,273

5.5 Network Revenues

1,280 103

1.4 1,253

1.5 1,208

1.6 Others Telecommunications Services Revenues

2,825 228

3.1 2,429

2.9 2,645

3.4 Total Revenues

89,696 7,242 100 82,967 100 77,143 100 Expenses Operations, Maintenance and Telecommunication Services Expenses Operations and maintenance 12,583 1,016 20.5 10,667 18.5 9,012 16.7 Radio frequency usage charges 3,207 259 5.2 3,098 5.4 3,002 5.6 Concession fees and Universal Service Obligation USO charges 1,818 147 3.0 1,595 2.8 1,452 2.7 Electricity, gas and water 1,180 95 1.9 1,063 1.8 879 1.6 Cost of phone,set top boxes, SIM and RUIM cards 1,031 83 1.7 752 1.3 687 1.3 Leased lines and CPE 758 61 1.2 440 0.8 407 0.8 Vehicles rental and supporting facilities 581 47 0.9 439 0.8 293 0.5 Cost of IT service 357 29 0.6 677 1.2 222 0.4 Insurance 335 27 0.5 374 0.6 671 1.2 121 2014 Annual Report PT Telkom Indonesia Tbk Persero