SHORT-TERM BANK LOANS Retirement benefits

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2011 AND 2010, AND YEARS ENDED DECEMBER 31, 2011 AND 2010 Figures in tables are presented in billions of Rupiah, unless otherwise stated 56

19. BONDS AND NOTES continued

a. Bonds continued The funds received from public offering of bonds net of issuance costs, are to be used for increasing capital expenditure which consisted of: wave broadband bandwidth, softswitching, datacom, information technology and others, infrastructure backbone, metro network, regional metro junction, internet protocol, and satellite system, and optimizing legacy and supporting facilities fixed wireline and wireless. As of December 31, 2011, the rating for the bonds issued by PT Pemeringkat Efek Indonesia Pefindo is idAAA stable outlook. Based on indenture trusts agreement, the Company is required to comply with all covenants or restrictions including maintaining financial ratios as follows: 1. Debt to equity ratio should not exceed 2:1. 2. EBITDA to finance costs ratio should not be less than 5:1. 3. Debt service coverage is 125 As of December 31, 2011, the Company complied with the above mentioned ratios. b. MTN Interest Issuance Maturity payment Notes Principal date date method MTN Metra I Phase 1 30 June 9, 2009 June 19, 2012 Quarterly Phase 2 20 February 1, 2010 February 2, 2013 Quarterly Metra II Phase 1 20 December 28, 2011 December 28, 2014 Quarterly Sigma 30 November 17, 2009 November 17,2014 Semi-annually Finnet Phase 1 10 October 16, 2009 November 17, 2012 Monthly Phase 2 15 March 18, 2010 March 24, 2013 Monthly The Arranger of the Medium Term Notes is PT Bahana Securities, Bank Mega is acting as Trustee, and PT Kustodian Sentral Efek Indonesia “KSEI” is acting as Collecting Agent and Custodian. Proceeds from the issuance of MTN among others were used to expand the business and as working capital. Metra secures with a minimum value of 40 of the outstanding MTN principal. The maximum value of 60 of the outstanding MTN principal is unsecured and at all times ranked pari passu with other unsecured debts of Metra. Metra may buy back all or part of the MTN at any time before the maturity date of the MTN. The MTN of Sigma and Finnet are not secured by a specific collateral, but secured by all of Sigma and Finnet’s assets. These movable or fixed property, either existing or in the future, are collateral for assets of MTN holders and at all times ranked pari passu without any preference with other creditor privileges in accordance with prevailing regulations. Sigma and Finnet may buyback all or part of the MTN at any time before the maturity date of MTN. Based on the agreements, Metra, Sigma, and Finnet are required to comply with required covenants including maintaining financial ratios. As of December 31, 2011, Metra, Sigma, and Finnet complied with the ratios. Refer to Note 37 for details of related party transactions. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2011 AND 2010, AND YEARS ENDED DECEMBER 31, 2011 AND 2010 Figures in tables are presented in billions of Rupiah, unless otherwise stated 57

19. BONDS AND NOTES continued

c. Promissory Notes Interest Interest Principal Issuance Payment payment rate Supplier Currency in billions date schedule method per annum PT Huawei Tech US 0.3 June 19, 2009 Semi-annually Semi-annually 6 month LIBOR+2.5 Investment January 11, 2012 - “Huawei Tech” June 23, 2014 PT. ZTE US 0.1 August 20, 2009 Semi-annually Semi-annually 6 month LIBOR+1.5 Indonesia June 10, 2012 - 6 month LIBOR+2.5 “ZTE” June 10, 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 are unsecured supplier financing facilities covering 85 of Hand Over Report “Berita Acara Serah Terima” or BAST projects with ZTE and Huawei Tech.

20. BANK LOANS

2011 2010 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Lenders Currency in millions equivalent in millions equivalent Syndication of banks Rp. - 3,225 - 4,500 BCA Rp. - 2,271 - 2,755 Bank Mandiri Rp. - 2,111 - 3,075 BRI Rp. - 1,131 - 822 ABN Amro Bank N.V. Stockholm Branch “AAB Stockholm” and Standard Chartered Bank US 85 771 54 487 BNI Rp. - 400 - 1,150 Japan Bank for International Cooperation “JBIC” US 42 381 54 486 Industrial and Commercial Bank of China Limited “ICBC” US 39 350 46 417 OCBC NISP Rp. - 466 - 622 Bank CIMB Niaga Rp. - 81 - 24 PT Bank Ekonomi Raharja Tbk “Bank Ekonomi” Rp. - 69 - 79 US 4 - Bank of China “BoC” US - - 18 159 Finnish Export Credit Ltd US - - 17 149 The Export-Import Bank of Korea “Korea Eximbank” US - - 12 106 Others Rp. - 1 - 8 Total 11,261 14,839 Unamortized debt issue cost 70 105 11,191 14,734 Current maturities Note 17a 3,960 4,478 Long-term portion Note 17b 7,231 10,256 Refer to Note 37 for details of related party transactions.