SHORT-TERM BANK LOANS continued

PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED Figures in tables are presented in billions of Rupiah, unless otherwise stated 60

19. TWO-STEP LOANS continued

Since 2008, the Company has used all facilities under the two-step loans program and the drawdown period for the two-step loans has expired. The Company is required to maintain financial ratios as follows: a. Projected net revenue to projected debt service ratio should exceed 1.2:1 for the two-step loans originating from Asian Development Bank “ADB”. b. Internal financing earnings before depreciation and finance costs should exceed 20 compared to annual average capital expenditures for loans originating from ADB. As of September 30, 2013, the Company complied with the above mentioned ratios. Refer to Note 37 for details of related party transactions. 20. BONDS AND NOTES September 30, 2013 December 31, 2012 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Bonds and notes Currency in millions equivalent in millions equivalent Bonds Series A Rp - 1,005 - 1,005 Series B Rp - 1,995 - 1,995 Medium Term Notes “MTN” PT Finnet Indonesia “Finnet” Rp - - 8 Promissory Notes PT Huawei US 25 289 46 445 PT ZTE Indonesia “ZTE” US 15 172 22 216 Total 3,461 3,669 Current maturities Note 18a 353 440 Long-term portion Note 18b 3,108 3,229 a. Bonds Interest Interest Listed Issuance Maturity payment rate Bonds Principal Issuer on date date period per annum Series A 1,005 The Company IDX June 25, 2010 July 6, 2015 Quarterly 9.60 Series B 1,995 The Company IDX June 25, 2010 July 6, 2020 Quarterly 10.20 Total 3,000 The bonds are secured by all of the Company’s assets, movable or non-movable, either existing or in the future Note 11c.x. The underwriters of the bonds are Bahana, PT Danareksa Sekuritas and PT Mandiri Sekuritas and the trustee is PT CIMB Niaga Tbk. The Company received the proceeds of the issuance of bonds on July 6, 2010. PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED Figures in tables are presented in billions of Rupiah, unless otherwise stated 61

20. 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 September 30, 2013, the rating of 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 September 30, 2013, the Company complied with the above mentioned ratios. b. MTN Interest Issuance Maturity payment Notes Principal Rp date date period 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 Phase 2 10 February 22, 2012 February 22, 2015 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 In December 2012, the MTN was fully repaid by Metra through refinancing with BNI Note 21. In May 2012, the MTN was fully repaid by Sigma. In March 2013, the MTN was fully repaid by Finnet The Arranger of the Medium Term Notes is Bahana, with Bank Mega acting as Trustee, and KSEI is acting as Collecting Agent and Custodian. Proceeds from the issuance of MTN were used to, among others expand the business and for working capital. Metra secures 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’s and Finnet’s assets, movable or non-movable, either existing or in the future Note 11c.x which become a collateral to MTN holders and at all times ranked pari passu without any preference other creditor privileges in accordance with prevailing regulations. Sigma and Finnet may buy back all or part of the MTN at any time before the maturity date of MTN. Refer to Note 37 for details of related party transactions.