NON-CONTROLLING INTEREST December 31, September 30,

PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated 79

27. TREASURY STOCK continued

Based on the resolution at the AGM of Stockholders of the Company on May 19, 2011, the stockholders authorized the phase IV plan to repurchase the Company’s issued and outstanding Series B shares. The proposal was to undertake a stock repurchase program with the following terms and conditions: i maximum stock repurchase would be 645,161,290 of the Company’s issued Series B shares with total cost not to exceed Rp.5,000,000 million; and ii the period determined for the acquisition would not be longer than 18 months May 19, 2011 to November 20, 2012. On May 23, 2011, the Company has released a full disclosure statement to the public in relation with fund allocation addition for phase IV stock repurchase program from Rp.3,000,000 million to Rp.5,000,000 million. As of December 31, 2010 and September 30, 2011, the Company has repurchased 490,574,500 and 631,883,000 of the Company’s issued and outstanding Series B shares, respectively, representing 2.43 and 3.13 of the Company’s issued and outstanding Series B shares, for a total repurchase amount of Rp.4,264,073 million and Rp.5,293,049 million up to 2010 and 2011, respectively, including broker’s commissions and custodian fees. The Company has planned to retain, sell or use the treasury stock for other purposes in accordance with BAPEPAM-LK Regulation No. XI.B.2 and under Law No. 402007 on Limited Liability Companies. Pursuant to the AGM of Stockholders of the Company dated June 11, 2010, the stockholders approved the changes to the Company’s plan for used of the treasury stock as result of the Share Buy Back I, II and III, as follows: i market placement; ii cancellation; iii equity conversion; and iv funding. 2010 2011 Number Number of shares Rp. of shares Rp. Balance beginning 490,574,500 4,264,073 490,574,500 4,264,073 Number of shares acquired - - 141,308,500 1,028,976 Balance ending 490,574,500 4,264,073 631,883,000 5,293,049