Pension Fund LIABILITAS IMBALAN KERJA EMPLOYEE BENEFITS LIABILITIES

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 - 107 - 30 Juni 2015 June 30, 2015 31 Desember 2014 December 31, 2014 Unaudited Unaudited Tabel Mortalita Indonesia 2011 TMIII Tabel Mortalita Indonesia 2011 TMIII Tingkat mortalita Indonesia Mortality Table 2011 TMIII Indonesia Mortality Table 2011 TMIII Mortality rate Usia pensiun normal 56 tahunyears 56 tahunyears Normal retirement age Tingkat cacat 10 dari tingkat mortalita 10 dari tingkat mortalita Disability rate of mortality rate of mortality rate Tingkat kenaikan gaji: Rate of salary increase: Program pensiun 7,5 per tahunper annum 7,5 per tahunper annum Pension plan Imbalan kerja lainnya 10 per tahunper annum 10 per tahunper annum Other employee benefits Tingkat diskonto tahunan 8,2 per tahunper annum 8,2 per tahunper annum Annual discount rate Tingkat pengembalian Expected return on plan investasi 9 per tahunper annum 9 per tahunper annum assets 1 ST: 0,5 untuk 1 ST: 0,5 untuk umur di bawah 30 tahun umur di bawah 30 tahun dan menurun secara linear dan menurun secara linear Tingkat pengunduran diri sampai 0 pada umur 53 tahun sampai 0 pada umur 53 tahun Voluntary resignation rate SP: 52 tahun 1 ST: 0,5 SP: 52 tahun 1 ST: 0,5 at less than 30 years of age at less than 30 years of age and reducing linearly to 0 and reducing linearly to 0 at 53 SP: 52 years years of age at 53 SP: 52 years years of age Aset dana pensiun terutama terdiri dari deposito berjangka, surat-surat berharga dan investasi jangka panjang dalam bentuk saham, reksadana, obligasi, tanah dan bangunan. Pension fund assets mainly consist of time deposits, marketable securities, and long-term investments in shares of stock, mutual funds, bonds and land and buildings. Tingkat pengembalian investasi yang diharapkan atas aset program ditentukan berdasarkan ekspektasi pasar pada tanggal pelaporan, berlaku untuk periode saat kewajiban diselesaikan. The expected rate of return on plan assets is determined based on the market expectations prevailing on that date, applicable to the period over which the obligation is to be settled. Imbalan Pensiun Pension Benefits Beban imbalan kerja yang dibebankan pada laporan laba rugi komprehensif konsolidasian merupakan jumlah neto dari: Employee benefits expense recognized in the consolidated statement of comprehensive income consists of the net total of the following amounts: 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Biaya jasa kini 31.310.697 30.012.383 Current service cost Biaya bunga 1.912.907 573.484 Interest cost Biaya jasa lalu 52.366.622 84.477.670 Past service cost Beban 85.590.226 113.916.569 Expense Estimasi terbaik Perseroan atas iuran dalam aset program pensiun di 2015 adalah sebesar Rp128.745.306. The Company expects to contribute Rp128,745,306 to its pension benefit pension plans in 2015. Liabilitas neto imbalan kerja yang diakui di laporan posisi keuangan konsolidasian adalah sebagai berikut: The net liability for employee benefits recognized in the consolidated statements of financial position is as follows: 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 - 108 - 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Nilai kini dari kewajiban 1.845.280.927 1.775.446.912 Present value of the obligations Nilai wajar aset 1.724.120.569 1.718.220.842 Fair value of plan assets Liabilitas neto 121.160.358 57.226.070 Net liability Mutasi nilai kini liabilitas imbalan adalah sebagai berikut: Movements of the present value of benefit obligations is as follows: 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Nilai kini kewajiban imbalan Present value of the benefit pada 1 Januari 1.775.446.912 1.620.090.585 obligations January 1, Biaya jasa kini 24.989.740 30.012.383 Current service cost Biaya bunga 127.471.219 145.808.153 Interest cost Iuran peserta 5.558.633 5.171.819 Participant contributions Imbalan dana pensiun yang dibayarkan 153.310.454 15.403.481 Pension benefits paid Keuntungan aktuaria pada liabilitas Gains on actuarial liabilities - Keuntungan kerugian aktuaria - Actuarial gains losses from dari penyesuaian 65.124.876 10.232.547 experience adjustments Nilai kini liabilitas imbalan Present value of the benefit pada 30 Juni 1.845.280.927 1.775.446.912 obligation June 30, Perubahan dalam nilai wajar aset program adalah sebagai berikut: Changes in the fair value of plan assets are as follows: 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Nilai wajar aset program pada 1 Januari 1.718.220.842 1.626.462.629 Fair value of plan assets at January 1 Imbal hasil ekspektasian aset program 121.718.698 146.381.637 Expected return Iuran oleh pemberi kerja 33.781.231 31.319.275 Contributions by employer Iuran oleh peserta program 5.558.633 5.171.819 Contributions by employee Imbalan yang dibayarkan 155.158.835 99.881.151 Benefits paid Keuntungan aktuaria pada aset program - 8.766.633 Actuarial gain on plan asset Nilai wajar aset program Fair value of plan assets pada 30 Juni 1.724.120.569 1.718.220.842 at June 30, Kategori utama aset program sebagai persentase dari total aset program adalah sebagai berikut: The major categories of plan assets as a percentage of the fair value of the total plan assets are as follows: 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 - 109 - 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Surat Berharga Negara 8 8 Government Bonds Kas dan deposito 18 18 Cash and time deposit Saham 19 19 Stocks Obligasi 35 35 Bonds Reksadana 15 15 Mutual funds Tanah dan bangunan 5 5 Land and buildings Imbal hasil aktual aset program selama 30 Juni 2015 dan 31 Desember 2014 masing- masing adalah sebesar Rp142.243.783 dan Rp146.381.637. Actual investment income on plan assets during June 30, 2015 and December 31, 2014 amounted of Rp142,243,783 and Rp146,381,637 respectively. Imbalan kerja lainnya Other employee benefits Beban imbalan kerja yang dibebankan pada laporan laba rugi komprehensif konsolidasian merupakan jumlah bersih dari: Other employee benefits expense recognized in the consolidated statement of comprehensive income consists of the net total of the following amounts: 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Biaya jasa kini 9.880.161 38.958.679 Current service cost Biaya bunga 5.129.118 19.595.699 Interest cost Amortisasi dari: Amortization of: - Biaya jasa lalu yang belum diakui 5.831.436 8.022.823 - Unrecognized past service cost Beban 20.840.715 66.577.201 Expense Liabilitas neto imbalan kerja lainnya yang diakui di laporan posisi keuangan konsolidasian adalah sebagai berikut: The net liability for other employee benefits obligations recognized in the consolidated statements of financial position is as follows: 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Nilai kini dari kewajiban 219.414.150 247.904.738 Present value of obligation Nilai wajar aset - - Fair value of plan assets Liabilitas neto 219.414.150 247.904.738 Net liability Mutasi nilai kini kewajiban imbalan adalah sebagai berikut: Movements of the present value of benefit obligations is as follows: 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 - 110 - 30 Juni 31 Desember June 30, December 31, 2015 2014 Unaudited Unaudited Nilai kini kewajiban imbalan Present value of the benefit pada 1 Januari 247.904.738 217.730.003 obligations January 1, Biaya jasa kini 20.087.108 38.958.679 Current service cost Biaya bunga 10.258.235 19.595.699 Interest cost Imbalan dana pensiun yang dibayarkan 49.187.890 41.121.987 Pension benefits paid Kerugian aktuaria 9.648.041 12.742.344 Actuarial loss Nilai kini kewajiban imbalan Present value of the benefit pada 30 Juni 219.414.150 247.904.738 obligation June 30, Perubahan satu poin persentase asumsi tingkat diskonto akan memiliki efek sebagai berikut: A one percentage point change in the assumed discount rate would have the following effects: Kenaikan Penurunan Increase Decrease Pengaruh keseluruhan biaya Effect on the aggregate current jasa 46.871.549 52.091.424 service cost Pengaruh kewajiban Effect on the employee imbalan kerja 1.728.248.522 1.807.305.911 benefit liabilities Riwayat penyesuaian adalah sebagai berikut: The history of experience adjustment is as follows: 2015 2014 2013 Dana Pensiun Pension benefits Nilai kini kewajiban imbalan 1.743.425.538 621.028.531 1.009.039.832 Present value of the obligation Aset program 1.743.425.538 1.718.220.842 1.626.462.629 Fair value of plan assets Surplus Defisit 3.486.851.076 1.097.192.311 4.465.379 Surplus Deficit Penyesuaian liabilitas Experience adjustments program 31.879.316 40.338.268 4.648.229 on liabilities Penyesuaian aset Experience adjustments program - 8.766.633 5.232.377 on plan liabilities Manfaat Lainnya Other employee benefits Nilai kini kewajiban imbalan 125.295.345 236.748.290 146.372.554 Present value of the obligation Surplus Defisit 125.295.345 - - Surplus Deficit Penyesuaian liabilitas Experience adjustments program 4.824.021 3.626.734 4.525.013 on liabilities 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 - 111 - b. Program tunjangan kesejahteraan hari tua b. Old-age benefit program Perseroan dan entitas anak SP dan ST memberikan imbalan pascakerja dalam bentuk Program Tunjangan Kesejahteraan Hari Tua TKHT bekerja sama dengan Asuransi Jiwa Bersama Bumiputera 1912 AJB BP. Berdasarkan perjanjian kerja sama tersebut, Perseroan dan entitas anak SP dan ST membayar premi asuransi kepada AJB BP masing-masing sebesar 5, 8 dan 10 dari gaji dasar asuransi karyawan, dimana tingkat kenaikan tahunan gaji dibatasi maksimum sebesar 7,5 per tahun 7 per tahun untuk ST. AJB BP harus membayar manfaat program tersebut kepada karyawan yang berhak atau kepada tanggungan mereka pada saat karyawan mencapai usia 56 tahun, mengundurkan diri, atau meninggal atau cacat berdasarkan perkalian tertentu dari gaji dasar asuransi pada saat manfaat program tersebut terutang. The Company and its subsidiaries SP and ST provide post-employment benefits under old- age benefit programs. The Company and its subsidiaries SP and ST have entered into agreements with Asuransi Jiwa Bersama Bumiputera 1912 AJB BP under which the Company and its subsidiaries SP and ST pay insurance premiums to AJB BP at rates of 5, 8 and 10, respectively, of employees’ insurable salaries, which salaries are subject to a maximum annual increase of 7.5 per annum 7 per annum for ST. AJB BP is obligated to pay program benefits to eligible employees or their dependants upon employees attaining 56 years of age, upon resignation, or in event of death or disability of the employees, based on specified multiples of employees’ insurable salaries at the time benefits are due to be paid. Utang premi asuransi pada tanggal 30 Juni 2015 dan 31 Desember 2014 masing- masing sebesar RpNihil dan Rp3.178.720. Insurance premiums payable as of June 30, 2015 and December 31, 2014 amounted to RpNil and Rp3,178,720, respectively. Jumlah beban sehubungan dengan program ini untuk periode yang berakhir pada tanggal- tanggal 30 Juni 2015 dan 31 Desember 2014 masing-masing sebesar Rp6.575.464 dan Rp12.976.714. The total expense in relation to these programs during the period ended June 30, 2015 and December 31, 2014 amounted to Rp6,575,464 and Rp12,976,714, respectively. Nilai kini kewajiban dan nilai wajar kekayaan atas program tersebut pada tanggal 30 Juni 2015 dan 31 Desember 2014, Rp224.710.220, Rp126.834.877 dan Rp224.710.220, Rp126.834.877. Perseroan dan SP tidak mengakui liabilitas atas selisih nilai kini kewajiban dengan nilai wajar kekayaan karena manajemen Perseroan dan SP berkeyakinan AJB BP akan dapat memenuhi kewajiban tersebut pada saat jatuh tempo. The present value of the obligations and the fair value of the assets relating to these programs as of June 30, 2015 and December 31, 2014 Rp224,710,220, Rp126,834,877 and Rp224,710,220, Rp126,834,877, respectively. The Company and SP do not recognize any liabilities corresponding to the amount of the program assets, since management of the Company and its subsidiaries believe that AJB BP will be able to fulfill its obligations under these programs on the due dates. Pada tanggal 30 Juni 2015 dan 31 Desember 2014, ST mengakui penambahan provisi untuk imbalan kerja masing-masing sebesar Rp36.388.468 dan Rp36.388.468. As of June 30, 2015 and December 31, 2014, ST recognized additional provision for employee benefits amounting to Rp36,388,468 and Rp36,388,468, respectively. 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 - 112 -

c. Program bantuan pemeliharaan kesehatan purnakarya

c. Pensioners health care assistance program

Perseroan dan entitas anak SP memberikan imbalan pascakerja dalam bentuk Program Bantuan Pemeliharaan Kesehatan Purnakarya “BPKP” untuk karyawan tetap bekerja sama dengan AJB BP. Perseroan membayar premi bulanan kepada AJB BP masing-masing sebesar 4,5 dari gaji dasar asuransi karyawan, dimana tingkat kenaikan tahunan gaji dasar asuransi tersebut dibatasi maksimum sebesar 7,5 pertahun. AJB BP harus membayar manfaat program tersebut setiap tahun kepada karyawan yang berhak selama peserta masih hidup setelah karyawan mencapai usia 56 tahun, mengundurkan diri, meninggal atau cacat berdasarkan perkalian tertentu dari gaji dasar asuransi pada saat manfaat program tersebut terutang. The Company and its subsidiary SP provides post-employment benefits under a pensioners’ health care assistance program for its permanent employees. The Company entered into an agreement with AJB BP under which SP pays monthly insurance premiums to AJB BP at the rate of 4.5 of employees’ insurable salaries, which are subject to a maximum annual increase of 7.5 per annum. AJB BP is obligated to pay annual program benefits to eligible employees during their remaining lives upon employees attaining 56 years of age, upon resignation, or in event of death or disability of the employees, based on specified multiplies of employees’ insurable salaries at the time benefits are due to be paid. Tidak terdapat utang premi asuransi pada tanggal 30 Juni 2015 dan 31 Desember 2014. There were no insurance premiums payable as of June 30, 2015 and December 31, 2014. Total beban sehubungan dengan program ini untuk periode yang berakhir pada tanggal 30 Juni 2015 dan 31 Desember 2014 masing- masing sebesar Rp14.793.562 and Rp1.541.719. The total expense in relation to this program for the period ended June 30, 2015 and December 31, 2014 amounted to Rp14,793,562 and Rp1,541,719, respectively. Perseroan dan SP tidak mengakui liabilitas atas selisih nilai kini kewajiban dengan nilai wajar kekayaan karena manajemen Perseroan dan SP berkeyakinan AJB BP akan dapat memenuhi kewajiban tersebut pada saat jatuh tempo. The Company and SP has not recognized any liabilities corresponding to the amount of the program assets, since the management of the Company and SP believes that AJB BP will be able to fulfill its obligations under this program on the due dates.

d. Program kesejahteraan

karyawan d. Employee welfare program Entitas anak SP memberikan imbalan pascakerja dalam bentuk Program Kesejahteraan Karyawan untuk karyawan tetap bekerja sama dengan AJB BP. Berdasarkan perjanjian kerja sama tersebut, SP membayar premi bulanan kepada AJB BP sebesar 3 dari gaji dasar asuransi karyawan, dimana kenaikan tingkat kenaikan gaji dasar asuransi tersebut dibatasi maksimum sebesar 7,5 pertahun. AJB BP harus membayar manfaat program tersebut kepada karyawan yang berhak atau kepada tanggungan mereka pada saat karyawan mencapai usia 56 tahun, mengundurkan diri, meninggal atau cacat berdasarkan perkalian tertentu dari gaji dasar asuransi pada saat manfaat program tersebut terutang. Manajemen SP berkeyakinan AJB BP akan dapat memenuhi kewajiban tersebut pada saat jatuh tempo. The Company’s subsidiary SP provides post- employment benefits under an employee welfare program for its permanent employees which are covered under an agreement with AJB BP. SP pays monthly insurance premiums to AJB BP at the rate of 3 of employees’ insurable salaries, which are subject to a maximum annual increase of 7.5 per annum. AJB BP is obligated to pay annual program benefits to eligible employees or their dependants upon employees attaining 56 years of age, upon resignation, or in event of death or disability of the employees, based on specified multiples of employees’ insurable salaries at the time benefits are due to be paid. SP management believes that AJB BP will be able to fulfill its obligations under this program on the due dates. Tidak terdapat utang premi asuransi pada tanggal 30 Juni 2015 dan 31 Desember 2014. There were no insurance premiums payable as of June 30, 2015 and December 31, 2014.