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FINANCIAL OVERVIEW FINANCIAL POSITION OVERVIEW As of December 31, 2014 2013 2012 Rp billion US million Rp billion Rp billion Consolidated Statements of Financial Position Total Current Assets 33,762 2,726 33,075 27,973 Total Non-Current Assets 107,133 8,650 94,876 83,396 Total Assets 140,895 11,376 127,951 111,369 Total Current Liabilities 31,786 2,566 28,437 24,107 Total Non-Current Liabilities 22,984 1,856 22,090 20,284 Total Liabilities 54,770 4,422 50,527 44,391 Total equity attributable to owners of the parent company 67,807 5,475 60,542 51,541 As re-stated, see Note 48 to the Consolidated Financial Statements 2012 Year ended December 31, 2014 compared to year ended December 31, 2013

1. Assets a. Current Assets

As of December 31, 2014, our current assets were Rp33,762 billion US2,726 million compare to Rp33,075 billion as of December 31, 2013. The increase in current assets was mainly due to an increase in our cash and cash equivalents by Rp2,976 billion, or 20.3, and Rp796 billion, or 20.2 in our advances and prepaid expenses. This increase was partially offset by a decrease in our other current financial assets of Rp4,075 billion, or 59.3. b. Non Current Assets As of December 31, 2014, our non current assets were Rp107,133 billion US8,650 million compare to Rp94,876 billion as of December 31, 2013. This increase was due to: - An increase in property, plant and equipment-net accumulated depreciation by Rp8,048 billion, or 9.3, - An increase in our advanced and other non-current asset of Rp1,684 billion, or 35.1, and - An increase in long term investment-net of Rp1,463 billion or 481.3.

2. Liabilities dan Equity a. Current Liabilities

Current liabilities were Rp31,786 billion US2,566 million as of December 31, 2014 and Rp28,437 billion as of December 31, 2013. This increase was primarily due to: - An increase of Rp1,378 billion, or 319.0 , in short-term bank loans; - An increase of Rp806 billion, or 15.8, in current maturities of long-term liabilities, and - An increase of Rp678 billion, or 39.9, in tax payable. 119 2014 Annual Report PT Telkom Indonesia Tbk Persero 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