Consolidated Subsidiaries GENERAL a. Pendirian dan Informasi Umum

AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 8 - Dimulainya kegiatan komersial Jenis usaha 31 Maret 31 Desember Start of 31 Maret 31 Desember Entitas anak Domisili Nature of March 31, December 31, commercial March 31, December 31, Subsidiaries Domicile business 2016 2015 operations 2016 2015 PT Semen Padang “SP” Indarung, Produsen semen 99,99 99,99 1913 7.770.695.917 7.393.030.784 Sumatera Barat Cement manufacturing West Sumatera PT Sepatim Batamtama Batam, Riau Pengantongan semen 97,00 97,00 1994 28.065.139 29.396.686 “SB” 97 saham dan distribusiCement dimiliki SP97 shares packing and distribution owned by SP PT Bima Sepaja Abadi Tanjung Priok, Pengantongan semen 80,00 80,00 1996 169.651.695 182.661.386 ”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 8.382.076.051 8.367.129.198 Sulawesi Selatan Cement manufacturing South Sulawesi PT Semen Gresik “SG” Gresik, Produksi semen 99,96 99,96 - 3.838.944.144 3.175.043.752 Jawa Timur Cement manufacturing East Java PT United Tractors Semen Tuban, Penambangan 55,00 55,00 1992 373.246.852 324.265.574 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 243.001.024 236.139.375 Semen Gresik “IKSG” Jawa Timur Cement bag manufacturing East Java PT Kawasan Industri Gresik, Pengembangan kawasan 65,00 65,00 1991 349.029.877 345.076.082 Gresik “KIG” Jawa Timur industriIndustrial real East Java estate PT SGG Energi Prima ”SEP” Gresik, Pertambangan, perdaganga 97,00 97,00 2012 49.682.881 40.678.132 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 560.440.180 554.984.487 Jawa Timur Ready mix concrete East Java PT Krakatau Semen Cilegon, Pasir Blast Furnace Slag 50,00 50,00 2014 128.792.536 95.063.941 Indonesia KSI Jawa Barat Ground Granulated Blast West Java Furnance Slag GGBFS PT Sinergi Informatika Jakarta Selatan, Sistem Informasi 100,00 100,00 2014 43.244.438 48.773.225 Semen Indonesia SISI DKI Jakarta Information system Thang Long Cement Joint Hanoi, Produksi semen 70,00 70,00 2008 3.102.403.409 3.182.910.109 Stock Company ”TLCC” Vietnam Cement manufacturing Thang Long Cement Joint Hanoi, Produksi semen 69,57 69,57 - 37.614.957 39.022.404 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 - 57.708.532 59.867.825 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 AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 9 - Pada tanggal 17 Maret 2016, berdasarkan Akta Notaris No. 40, Notaris Leolin Jayayanti, S.H, Perseroan dan PT Samana Citra Agung SCA mendirikan PT Semen Indonesia Aceh SIA. Akta ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam surat keputusan No.AHU-0014511.AH.01.01.tahun 2016, tanggal 18 Maret 2016. Hingga 31 Maret 2016, SIA belum beroperasi secara komersial. On Maret 17, 2016, based on Notarial Deed No. 40, Notary of Leolin Jayayanti, S.H, the Company and PT Samana Citra Agung SCA established PT Semen Indonesia Aceh SIA. The deed was approved by Minister of Law and Human Rights of the Republic of Indonesia in his decision letter No.AHU- 0014511.AH.01.01.tahun 2016, dated Maret 18, 2016. As of March 31, 2016, SIA has not yet started its commercial operation. 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 31 Maret 2016, 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 March 31, 2016, 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 decision 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. AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 10 - 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. Pada tanggal 7 Agustus 2007, Perseroan telah melakukan pemecahan saham dengan perbandingan 1:10. Jumlah lembar saham Perseroan yang beredar setelah 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 of 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 31 Maret 2016, seluruh saham Perseroan atau sejumlah 5.931.520.000 lembar saham telah dicatatkan pada Bursa Efek Indonesia. As of March 31, 2016, 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”

a. Standar yang Berlaku Efektif pada Tahun Berjalan

a. Effective Standards in the Current Year

Dalam tahun berjalan, Grup telah menerapkan semua PSAK baru dan revisi 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 2016. In the current year, the Group has adopted all of the new and revised PSAKs 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 4 revisi 2013, Laporan Keuangan Tersendiri • PSAK 4 revised 2013, Separate Financial Statements PSAK 4 revisi 2009, “Laporan Keuangan Konsolidasian dan Laporan Keuangan Tersendiri” telah diubah namanya menjadi PSAK 4 revisi 2013, “Laporan Keuangan Tersendiri” yang menjadi suatu standar yang mengatur laporan keuangan tersendiri. Panduan yang telah ada untuk laporan keuangan tersendiri tetap tidak diubah. PSAK 4 revised 2009, “Consolidated and Separate Financial Statements” has been renamed PSAK 4 revised 2013, “Separate Financial Statements” which continues to be a standard dealing solely with separate financial statements. The existing guidance for separate financial statements remains unchanged. Penerapan PSAK 4 tidak mempunyai pengaruh material atas pengungkapan atau jumlah-jumlah yang diakui dalam laporan keuangan konsolidasian. The application of PSAK 4 has had no material impact on the disclosures or on the amounts recognized in the consolidated financial statements.