Consolidated Subsidiaries GENERAL a. Pendirian dan Informasi Umum

AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30, 2015 AND 2014 Expressed in thousands of Rupiah, unless otherwise stated Continued - 8 - Dimulainya kegiatan komersial Jenis usaha 30 Juni 31 Desember Start of 30 Juni 31 Desember Entitas anak Domisili Nature of June 30, December 31, commercial June 30, December 31, Subsidiaries Domicile business 2015 2014 operations 2015 2014 PT Semen Padang “SP” Indarung, Produsen semen 99,99 99,99 1913 6.300.602.548 5.884.803.713 Sumatera Barat Cement manufacturing West Sumatera PT Sepatim Batamtama Batam, Riau Pengantongan semen 97,00 97,00 1994 28.065.139 22.352.295 “SB” 85 saham dan distribusiCement dimiliki SP85 shares packing and distribution owned by SP PT Bima Sepaja Abadi Tanjung Priok, Pengantongan semen 80,00 80,00 1996 169.651.695 193.795.883 ”BSA” 80 saham Jakarta dan distribusiCement dimiliki SP80 shares packing and distribution owned by SP PT Semen Tonasa “ST” Pangkep, Produsen semen 99,99 99,99 1968 8.275.700.332 8.241.179.491 Sulawesi Selatan Cement manufacturing South Sulawesi PT Semen Gresik “SG” Gresik, Produksi semen 99,23 - - 2.008.287.930 574.268.992 Jawa Timur Cement manufacturing East Java PT United Tractors Semen Tuban, Penambangan 55,00 55,00 1992 335.039.978 263.197.834 Gresik “UTSG” Jawa Timur batu kapur dan tanah liat East Java Limestone and clay mining PT Industri Kemasan Tuban, Produsen kantong semen 60,00 60,00 1994 214.932.377 228.436.937 Semen Gresik “IKSG” Jawa Timur Cement bag manufacturing East Java PT Kawasan Industri Gresik, Pengembangan kawasan 65,00 65,00 1991 347.861.762 360.888.880 Gresik “KIG” Jawa Timur industriIndustrial real East Java estate PT SGG Energi Prima ”SEP” Gresik, Pertambangan, perdagangan 97,00 97,00 2012 31.191.444 32.971.868 Jawa Timur dan pengangkutan Batubara East Java Mining, trade and coal transportations PT SGG Prima Beton ”SPB” Gresik, Produksi beton siap pakai 99,99 99,99 2012 403.920.453 362.163.234 Jawa Timur Ready mix concrete East Java PT Krakatau Semen Cilegon, Produksi semen 50,00 - 2014 91.059.530 71.318.258 Indonesia KSI Jawa Barat Cement manufacturing West Java PT Sinergi Informatika Jakarta Selatan, Sistem Informasi 100,00 - 2014 24.047.068 19.123.811 Semen Indonesia SISI DKI Jakarta Information system Thang Long Cement Joint Hanoi, Produksi semen 70,00 70,00 2008 3.193.097.909 3.085.208.041 Stock Company ”TLCC” Vietnam Cement manufacturing Thang Long Cement Joint Hanoi, Produksi semen 69,36 69,36 - 38.075.802 36.995.543 Stock Company 2 Vietnam Cement manufacturing ”TLCC2” 99,08 saham dimiliki TLCC99.08 shares owned by TLCC An Phu Cement Joint Hanoi, Produksi semen 69,93 69,93 - 58.415.557 53.266.400 Stock Company ”APCC” Vietnam Cement manufacturing 99,90 saham dimiliki TLCC99.90 shares owned by TLCC Percentage of Ownership Total assets before eliminations Persentase kepemilikan Jumlah aset sebelum eliminasi Sebelum penyesuaian nilai wajar pada tanggal akuisisi Before fair value adjustments as at acquisition date AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30, 2015 AND 2014 Expressed in thousands of Rupiah, unless otherwise stated Continued - 9 - Pada tanggal 9 Juni 2014, berdasarkan Akta Notaris No. 27, Notaris Leolin Jayayanti, S.H, Perseroan mendirikan PT Sinergi Informatika Semen Indonesia SISI. Akta ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam surat keputusan No.AHU-12544.40.10.tahun 2014, tanggal 10 Juni 2014. On June 9, 2014, based on Notarial Deed No. 27, Notary of Leolin Jayayanti, S.H, the Company established PT Sinergi Informatika Semen Indonesia SISI. The deed was approved by Minister of Law and Human Rights of the Republic of Indonesia in his decision letter No.AHU-12544.40.10.tahun 2014, dated June 10, 2014. Pada tanggal 24 Desember 2013, berdasarkan Akta Notaris No. 63, Notaris Dr. Slamet Wahjudi S.H, M.Kn Perseroan mendirikan PT Semen Gresik SG. Akta ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam surat keputusan No.AHU-01530.AH.01.01.tahun 2014, tanggal 10 Januari 2014. Hingga 30 Juni 2015, SG belum beroperasi secara komersial. On December 24, 2013, based on Notarial Deed No. 63, Notary of Dr. Slamet Wahjudi S.H, M.Kn the Company established PT Semen Gresik SG. The deed was approved by Minister of Law and Human Rights of the Republic of Indonesia in his decision letter No.AHU-01530.AH.01.01.tahun 2014, dated January 10, 2014. As of June 30, 2015, SG has not yet started its commercial operation. Pada tanggal 20 Desember 2013, berdasarkan Akta Notaris No. 40, Notaris Jose Dima Satria S.H., M.Kn Perseroan dan PT Krakatau Steel Persero Tbk, mendirikan PT Krakatau Semen Indonesia KSI. Akta ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam surat keputusan No.AHU-04359.AH.01.01.tahun 2014, tanggal 3 Pebruari 2014. On December 20, 2013, based on Notarial Deed No. 40, Notary of Jose Dima Satria S.H., M.Kn the Company and PT Krakatau Steel Persero Tbk, established PT Krakatau Semen Indonesia KSI. The deed was approved by Minister of Law and Human Rights of the Republic of Indonesia in his decisian letter No.AHU-04359.AH.01.01.tahun 2014, dated February 3, 2014. c. Penawaran Umum Efek Perseroan c. Public Offering of Shares of the Company Perseroan mendapat persetujuan melalui Keputusan Menteri Keuangan No.859KMK.011987 tanggal 23 Desember 1987, juncto Keputusan Menteri Keuangan No.1548KMK.0131990 tanggal 4 Desember 1990 untuk menawarkan saham kepada masyarakat. Berdasarkan izin Menteri Keuangan cq Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan “BAPEPAM- LK” No. S-622.PM1991 tanggal 17 Mei 1991 Perseroan melakukan Penawaran Umum Perdana kepada masyarakat atas 40.000.000 saham dengan nominal per saham Rp1.000 angka penuh dengan harga perdana per saham sebesar Rp7.000 angka penuh. Pada tanggal 4 Juli 1991, BAPEPAM-LK menyetujui pencatatan saham sebanyak 70.000.000 saham di Bursa Efek Jakarta dan Bursa Efek Surabaya sekarang bergabung menjadi Bursa Efek Indonesia. The Company obtained the approval of the Minister of Finance in his decision No. 859KMK.011987 dated December 23, 1987, as amended by Decree No. 1548KMK.0131990 dated December 4, 1990, to offer its shares to the public. Based on the approval of the Minister of Finance cq Head of Capital Market and Financial Institutions Supervisory Agency BAPEPAM- LK No.S-622.PM1991 dated May 17, 1991, the Company conducted an Initial Public Offering of 40,000,000 shares with nominal amount of Rp1,000 full amount and offering price of Rp7,000 full amount per share. On July 4, 1991, BAPEPAM-LK approved the listing of 70,000,000 of the Company’s shares on the Jakarta Stock Exchange and Surabaya Stock Exchange currently merged as the Indonesia Stock Exchange. Pada tanggal 30 Mei 1995, Bursa Efek Indonesia menyetujui pencatatan tambahan 78.288.000 saham Perseroan. Pada tanggal 20 Juli 1995, BAPEPAM-LK menyetujui Penawaran Umum Terbatas sejumlah 444.864.000 saham biasa dengan dasar tiga saham baru untuk setiap saham yang beredar. On May 30, 1995, the Indonesia Stock Exchange approved the additional listing of 78,288,000 of the Company’s shares. On July 20, 1995, BAPEPAM-LK agreed to a rights issue of 444,864,000 common shares on a three to one basis. AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30, 2015 AND 2014 Expressed in thousands of Rupiah, unless otherwise stated Continued - 10 - Pada tanggal 7 Agustus 2007, Perseroan telah melakukan pemecahan saham dengan perbandingan 1:10. Jumlah lembar saham Perseroan yang beredar setelah pelaksanaan pemecahan saham tersebut menjadi sebesar 5.931.520.000 lembar saham dengan harga pasar saham awal setelah pelaksanaan pemecahan saham tersebut adalah Rp5.000 Rupiah penuh. On August 7, 2007 the Company executed a stock split with a ratio 1:10. Total issued shares after the stock split became 5,931,520,000 shares with an opening share price after exercising the stock split of Rp5,000 full Rupiah amount. Pada tanggal 30 Juni 2015, seluruh saham Perseroan atau sejumlah 5.931.520.000 lembar saham telah dicatatkan pada Bursa Efek Indonesia. As of June 30, 2015, all of the Company’s 5,931,520,000 outstanding shares are listed on the Indonesia Stock Exchange.

2. PENERAPAN PERNYATAAN STANDAR

AKUNTANSI KEUANGAN “PSAK” BARU DAN REVISI PSAK SERTA INTERPRETASI STÁNDAR AKUNTANSI KEUANGAN “ISAK” 2. ADOPTION OF NEW AND REVISED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS “PSAK” AND INTERPRETATION OF PSAK “ISAK” Standar yang Berlaku Efektif pada Tahun Berjalan Effective Standards in the Current Year Dalam tahun berjalan, Grup telah menerapkan semua PSAK, Revisi PSAK dan ISAK baru yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan dari Ikatan Akuntan Indonesia yang relevan dengan operasinya dan efektif untuk periode akuntansi yang dimulai pada tanggal 1 Januari

2015. In the current year, the Group has adopted all of the

new PSAK, Revised PSAK and ISAK issued by the Financial Accounting Standard Board of the Indonesian Institute of Accountants that are relevant to its operations and effective for accounting period beginning on January 1, 2015. • PSAK 1 revisi 2013, Penyajian Laporan Keuangan • PSAK 1 revised 2013, Presentation of Financial Statements Amandemen terhadap PSAK 1 memperkenalkan terminologi baru untuk laporan laba rugi komprehensif. Berdasarkan amandemen terhadap PSAK 1, laporan laba rugi komprehensif telah diubah namanya menjadi laporan laba rugi dan penghasilan komprehensif lain. Amandemen terhadap PSAK 1 mempertahankan opsi untuk menyajikan laba rugi dan penghasilan komprehensif lain baik sebagai suatu laporan tunggal atau disajikan dalam dua laporan terpisah tetapi berturut-turut. Namun, amandemen terhadap PSAK 1, mengharuskan tambahan pengungkapan dalam bagian penghasilan komprehensif lain dimana pos-pos dari penghasilan komprehensif lain dikelompokkan menjadi dua kategori: 1 Tidak akan direklasifikasi lebih lanjut ke laba rugi; dan 2 akan direklasifikasi lebih lanjut ke laba rugi ketika kondisi tertentu terpenuhi. The amendments to PSAK 1 introduce new terminology for the statement of comprehensive income. Under the amendments to PSAK 1, the statement of comprehensive income is renamed as a “statement of profit or loss and other comprehensive income”. The amendments to PSAK 1 retain the option to present profit or loss and other comprehensive income in either a single statement or in two separate but consecutive statements. However, the amendments to PSAK 1, require additional disclosures to be made in the other comprehensive income section such that items of other comprehensive income are grouped into two categories: 1 items that will not be reclassified subsequently to profit or loss; and 2 items that may be reclassified subsequently to profit or loss when specific conditions are met.