N I N E

M O N T H S

O F

2 0 1 2

R E S U L T S

( U N A U D I T E D )
CONVERSION RATES (US$ 1.00): September 30, 2012 = Rp9,570.0 September 30, 2011 = Rp8,790.0

TICKERS: IDX : TLKM NYSE : TLK LSE : TKID

ISSUED SHARES: 20,159,999,280 shares

SHAREHOLDER COMPOSITION: Govt. of Indonesia : 53.9% Public : 46.1% Excl. Treasury stock 1,006,430,460 shares.

Highlight
FINANCIAL PERFORMANCE
Revenue (in Rp. Bn)

Telkomsel recorded strong financial results with double digit growth. Revenue grew 10.6% YoY to Rp39.9 trillion, EBITDA grew 10.4%YoY to Rp22.7 trillion, and net income increased 23.3%YoY to Rp11.7 trillion. Telkomsel strong performance is a result of substantial data services growth combined with a well maintained basic service. Our broadband users grew more than double compared to last quarters growth. It grew by 42.5% YoY to 15.9 million users. Cellular customer base increased by 16.6% YoY to 121.5 million, with total net-add 14.5 million in 9M12. Telkomsel BTS reached 51,005 units on air, including 13,415 3G Node-B, an increase of 24.3% YoY. We added 3,752 new BTSs in 3Q12 only, an average of more than 1,000 BTS per month. Telkom consolidated Net Income increased by 19.3% YoY to Rp10.0 trillion.

Financial Highlights

OPERATIONAL PERFORMANCE
Subscribers (million)

Operational Highlights

Investor Relations PT Telekomunikasi Indonesia Tbk Grha Citra Caraka, 5th Floor Jl. Gatot Subroto No. 52, Jakarta Phone : 62 21 5215109 Fax : 62 21 5220500 Email : investor@telkom.co.id Website : www.telkom.co.id

DISCLAIMER This document contains financial conditions and result of operation, and may also contain certain projections, plans, strategies, and objectives of the Company, which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements, by their nature, involve risk and uncertainty that could cause actual results and development to differ materially from those expressed or implied in these statements. Telkom Indonesia does not guarantee that any action, which may have been taken in reliance on this document, will bring specific results as expected.

NINE MONTHS 2012 RESULTS (UNAUDITED)

PT TELEKOMUNIKASI INDONESIA, Tbk. NINE MONTHS 2012 RESULTS (UNAUDITED)

The following analysis and discussion is based on our Indonesian GAAP financial statements for the nine months ended September 30, 2011 and 2012. The reports have been submitted to Indonesia Stock Exchange, BAPEPAM-LK, the Indonesia Capital Market and Financial Institutions Supervisory Agency, and to US Securities and Exchange Commission.

FINANCIAL RESULTS
Revenues

We made total revenue of Rp56.9 trillion in 9M12, an increase of 7.6% YoY. Cellular voice revenues is still the largest contributor followed by Data, internet and IT Services as the second contributor. Total revenue increased by 6.5% QoQ with the following details are as follows: Cellular voice revenues increased by 6.2% QoQ resulting from the increase of local and long distance usage revenue due to Ramadhan and Lebaran season. Fixed line voice revenues, consisted of fixed wireline and fixed wireless voice revenues, decreased by 7.6% QoQ. o o Fixed wireline voice revenue decreased by 7.7% or amounting to Rp186.9 billion triggered by decrease in local and long distance usage revenue. Fixed wireless voice revenue decreased by 7.5% or amounting to Rp24.0 billion triggered by decrease in prepaid and postpaid usage revenue.

Data, Internet & IT Services revenues increased 10.9% QoQ. The increase was contributed mostly by domestic cellular SMS and cellular data revenue. Interconnection revenues increased by 14.0% QoQ or amounting to Rp145.1 billion mostly derived from local incoming cellular interconnection revenue. Network revenues decreased by 3.9% QoQ or amounting to Rp12.3 billion mostly triggered by decrease in leased lines and transponder revenue. Other revenues increased by 16.3% QoQ or amounting to Rp117.1 billion. The increase mostly contributed by CPE, USO & tower lease revenue.

NINE MONTHS 2012 RESULTS (UNAUDITED)

Expenses

Compared to last quarter results, total expenses slightly increased by 2.0% with the following details: Operation, Maintenance & Telecommunication Services expenses increased by 6.7% QoQ or amounting to Rp290.4 billion. This increase derived from customer CPE, cost of IT services, operation and maintenance antenna and tower expense. The increase was still closely related to the acceleration of infrastructures have been built and the growing IT service business. During third quarter 2012, we managed to save O&M expenses for base station, related outsourcing and electricity. Personnel expenses increased by 0.7% QoQ or amounting to Rp15.6 billion mostly due to the increase of quarterly incentives expense. Interconnection expenses increased by 9.6% QoQ or amounting to Rp109.2 billion mainly due to the increase in domestic cellular interconnection expense. Marketing expenses decreased by 9.3% QoQ or amounting to Rp76.4 billion mainly due to decrease in advertising and promotions expense. General & Administrative expenses decreased by 11.3% QoQ or amounting to Rp97.5 billion. The decrease occurred since there was severence payment for the former BoD and BoC booked in the second quarter. Depreciation & Amortization expenses slighty increased by 3.8% QoQ or amounting to Rp131.8 billion was derived from depreciation of transmission equipment, power supply & data processing equipment.

EBITDA, EBITDA Margin and Net Income

Nine-month 2012 EBITDA increased by 10.4% YoY to Rp 29.9 trillion and 10.1% QoQ to Rp10.6 trillion. This was due the higher increase in revenue rather than the expenses growth. The resulting EBITDA margin for 9M12 and 3Q12 increased 1.3% YoY and 1.8% QoQ, to 52.6% and 52.8%, respectively. Net Income for 9M12 increased by 19.3% YoY to Rp10.0 trillion and increased 15.0% QoQ to Rp3.6 trillion. The basis to calculate the EBITDA is the expenses without loss on forex - net, share of loss of associated company, others - net and depreciation & amortization expenses.

NINE MONTHS 2012 RESULTS (UNAUDITED)

Financial Position

Increase in assets by 3.8% QoQ was a result of: Increase in Current assets. This was mainly due to the increase in short term deposit and other receivables. Slightly decrease in Non-current assets. This was mainly driven by the decrease in noncurrent prepayment. Decrease in Liabilities by 2.5% QoQ was a result of: Decrease in Non-current liabilities. This was mostly contributed by the decrease in banks loans. Increase in Current Liabilities. This was attributable to the increase of accrued operations and maintenance expenses. Increase in non-controlling interest and equity was mainly due to increase in net income for current period.

Cash Flow

Net cash generated from operations increased by 9.9% YoY as a result of the cash revenue received from customers. Net cash used for investment increased by 3.2% YoY mostly due to the increase in cash spent for fixed assets acquisition. Net cash used for financing activities increased by 0.4% YoY. This was driven by the increase of cash out for dividend for 2011 financial year.

NINE MONTHS 2012 RESULTS (UNAUDITED)

Debts

Gearing

Telkom debts consisted of Two-Step Loans, Bonds, Notes and Banks Loans. During the third quarter 2012, Telkom made repayment of Banks Loans, MTN and Notes of Rp146.9 billion, Rp57.7 billion and Rp61.6 billion, respectively. Telkom made new debts for working capital purposes in the form of Notes amounting Rp778 billion.

Financial Ratio

Telkomsel Financial Result

Financial Results
For the first nine months of 2012 Telkomsel showed solid financial performance indicated by: Operating revenues increased 10.6% YoY to Rp 39.9 trillion included non-voice (SMS/data/VAS) revenues that increased 15.3% YoY to Rp 15.1 trillion. EBITDA reached Rp22.7 trillion and Profit was Rp11.7 trillion, 10.4% and 23.3% YoY growth respectively. In the following table, we present a summary of YoY and QoQ comparison of Telkomsel financial results:

NINE MONTHS 2012 RESULTS (UNAUDITED)

Statement of Comprehensive Income

Operating revenues of Rp39.9 trillion were recorded in 9M12, an increase of 10.6% YoY or 9.9% QoQ, which is the highest growth for the last fourteen quarters. Postpaid revenue decreased 1.9% YoY to Rp3.2 trillion in 9M12 due to a lower subscriber base. Prepaid revenue increased 12.3% YoY to Rp33.1 trillion in 9M12 and grew 9.8% QoQ in 3Q12, which was contributed by increase in revenues of voice, SMS and data services altogether. International roaming revenues increased 3.8% YoY to Rp0.5 trillion. It increased 12.9% QoQ due to increase in outbound traffic. Interconnection revenues increased 12.0% YoY to Rp2.6 trillion and 17.2% QoQ to, as a result of the implementation of SMS interconnection that commenced in June 2012. Other revenues resulted from network lease and USO compensation fee totaling of Rp368.5 billion.

We continued our cost-based optimization program. Until the 9M12 period, expenses increased only by 5.5% YoY and 6.0% QoQ to Rp24.21 trillion, down 3 points percentage compared to YoY growth in the same period last year. The growth of expenses, both YoY and QoQ, was much lower than revenue growth that grew 10.6% YoY and 9.9% QoQ. Personnel expenses increased 23.9% YoY to Rp1.5 trillion and 8.4% growth QoQ, mainly due to the impact of remuneration adjustment, monthly allocation of employee allowances and organization restructuring. Operation & maintenance expenses increased 4.6% YoY to Rp8.2 trillion and was 3.2% higher QoQ. The YoY and QoQ growth was mainly due to increase in payment for network space rental. As a result of our effort to optimize the operational cost, this year we managed to lower down our power supply costs (electricity cost) by 13% compared to last year. General & administration expenses increased by 9.1% YoY to Rp673.8 billion mostly on rental expenses. Marketing expenses decreased 7.5% YoY to Rp1.5 trillion, which was mainly due to decrease in advertising and promotional activities due to relatively stable competition. Compared to 2Q12, marketing expenses in 3Q12 were 9.0% higher due to Ramadhan and Lebaran seasons. Interconnection charge (domestic and international) increased 21.5% to Rp2.4 trillion mostly due to implementation of SMS interconnection tariff. It increased 18.7% QoQ. Cost of Services grew 29.7% YoY to Rp2.9 trillion in 9M12 mainly due to increase in data access fee for Blackberry services. It increased 6.1% QoQ due to increase in cost of card (in line with sales increase) and concession fee. Depreciation expenses decreased 5.9% YoY to Rp7.1 trillion and increased 6% from previous quarter related to network infrastructures growth.

Net finance costs (interest income and financing charges) declined 100% YoY mainly because of decrease in financing charges due to debt repayment in 2011.

NINE MONTHS 2012 RESULTS (UNAUDITED)

EBITDA increased by 10.4% YoY as part of efficiency efforts and improvement on revenue growth, while Profit increased by 23.3% YoY. EBITDA margin remained stable at 57%.

Statement of Financial Position

Total Assets increased by 1.8% to Rp58.9 trillion. Total liabilities decreased by 16.3% to Rp19.1 trillion, while total equity increased 13.6% to Rp39.8 trillion. Current assets increased 14.8% to Rp10.8 trillion, mainly due to increase in cash and cash equivalent. Fixed assets recorded at Rp45.2 trillion, slightly decreased compared to last year at Rp45.9 trillion. Current liabilities decreased 6.2% to Rp14.2 trillion following the decline in dividend payable. Non-current liabilities decreased 36.1% to Rp4.9 trillion, mainly due to repayment of loans.

As of September 30, 2012 Telkomsel had Rp3.6 trillion loans outstanding, which Rp1.5 trillion was presented as current liabilities and Rp2.1 trillion as non-current liabilities.

Cash Flow
Net cash generated from operations in 9M12 was Rp21.2 trillion, increased 14.3% compared to 9M11. Cash flow for investing activities, which was mostly spent for the acquisition of property, plant, and equipment, increased 25.6% to Rp6.7 trillion (approximately USD 698 million). Net cash used in financing activities decreased 24% to Rp2.1 trillion.
STATEMENT OF CASHFLOW AS OF SEPTEMBER 30, 2012 AND 2011 (In Billions of Rupiah) In Rp. Billion Cash Flow from Operating Activities Cash Flow for Investing Activities Cash Flow from Financing Activities Dividend Net Increase in Cash & Cash Equivalents Effect of Foreign Exchange Rate Changes Cash and Cash Equivalents at Beginning of Periods Cash and Cash Equivalents at End of Periods Addition to Fixed Assets (incl. CIP) 9M-12 21,248 (6,698) (2,120) (9,900) 2,530 46 4,223 6,800 7,000 9M-11 18,592 (5,334) (2,792) (6,755) 3,711 (12) 1,222 4,921 5,426

Loan/Debt
Telkomsel has to observe certain agreed financial covenants related to its loans/debts. As of September 30, 2012 these covenants were as follows:

Bank Loans

Covenants t/b maintained EBITDA to debt service Debt to tangible net worth

Required 1.25 2.00

Actual 7.25 0.09

Ratings
In September 2012, rating issued by Moodys, S&P and Fitch are as follows: Local Currency Foreign Currency Outlook Moodys Baa1 Stable S&P BBBStable Fitch BBB+ BBB Stable/Stable 7

NINE MONTHS 2012 RESULTS (UNAUDITED)

OPERATIONAL RESULTS
Broadband/Data Services
Customer Base Mobile Broadband/Data Services Telkomsel data users (Blackberry, Flash and GPRS/PAYU) reached 51 million, increased 47.2% YoY. The BlackBerry users still recorded a strong growth with 68.7% YoY or 26.4% QoQ growth in September 2012. Our Flash broadband subscriber also showed a significant growth 45.6% YoY. Fixed Broadband 2.1 million users, an increase of 8.9% QoQ. ARPU & Traffic Production Mobile Broadband With the additional of Telkomsel data users, data traffic/payload has shown a solid growth of 89.2% from the same period last year at 36,227 terabytes. Fixed Broadband 3Q12 ARPU was Rp174 thousand, a 5.9% decrease compared to ARPU of previous quarter. 9M12 ARPU was Rp182 thousand, a 4.1% increase YoY. Additional Speedy user during 2012 brought Speedy revenue achieved Rp3.2 trillion in 9M12, an increase of 6.0% YoY.

Cellular Services
Customer Base Telkomsel continued to record a strong net add in 3Q12 with 4.24 million new customers, resulting a total net-add for 9M12 of 14.5 million new customers. This 9M12 net-add achievement already past the full year 2011 net-add by 11%. As of September 2012, Telkomsel served 121.5 million customers, consisting of 2.2 million postpaid and 119.3 million prepaid customers. It grew strongly by 16.6% from a year ago or 3.6% from previous quarter.

Traffic Production & ARPU Total outgoing minutes (MoU, chargeable and non-chargeable) continued to increase in 3Q12. It grew 7.8% compared to 2Q12, mainly due to school and Lebaran holidays during the quarter. Total MoU production for 9M12 reached 136.6 billion minutes, an increase of 9.9% YoY. Average RPM of 9M12 was relatively stable at Rp158. Total SMS production in 3Q12 decreased slightly 1.1% particularly due to impact of SMS interconnection regulation, while total SMS production for 9M12 increased 14.9% to 190.0 billion units. For the nine months 2012, revenue per SMS reached Rp52, which was 13.0% higher than 9M11. Blended ARPU increased 2.7% in 3Q12 compared to previous quarter result. This increase related with Ramadhan festive in August 2012. For 9M12, it was Rp37,000.

NINE MONTHS 2012 RESULTS (UNAUDITED)

Network Development We have expedited our network development plan with more focus on 3G network deployment. In 3Q12, Telkomsel added 3,752 units new BTS (an average of more than 1,000 BTS per month), of which 2,252 units were 3G Node-B. This underlines our commitment to achieve the 100 broadband cities program by the end of this year. By end of September 2012, we had 51,005 BTSs on air (YoY increase 24.3%), including 13,415 3G Node-B (YoY increase 48.5%).
The following table presents a comparison of our cellular business performance:

Fixed Line Services

Customer Base Fixed Wireline 8.9 million customers, 4.0% growth from last year and slightly increase 0.9% from last quarter. Fixed Wireless 16.8 million customers at the end of 9M12, consisting of 428 thousand postpaid subscribers and 16.3 million prepaid subscribers. Compare to previous quarter, fixed wireless customers increased by 3.4%. ARPU Fixed Wireline 3Q12 ARPU was at Rp82.9 thousand, a decrease 1.8% QoQ. 9M12 ARPU was Rp88.1 thousand, a decrease 11.5% YoY. Fixed Wireless 3Q12 blended ARPU was at Rp8 thousand. 9M12 ARPU was Rp9.2 thousand, a 0.1% YoY increase.

NINE MONTHS 2012 RESULTS (UNAUDITED)

ADDITIONAL INFORMATION
Capital Expenditure
For the nine months 2012, paid Capex of Telkom, Telkomsel and other subsidiaries were amounting to Rp2.3 trillion, Rp6.9 trillion and Rp1.7 trillion respectively. Telkoms Capex was mainly utilized for enhancing infrastructure and broadband. Meanwhile, Telkomsel's Capex was utilized for radio access network. Other Subsidiaries Capex mainly utilized for tower infrastructure.

Share Buyback IV Program

As of September 30, 2012, under the SBB IV program we have bought back 515.9 million shares in the Indonesian Stock Exchange (IDX) and New York Stock Exchange (NYSE) amounting to Rp3.8 trillion or 75.2% from total target Rp5 trillion. The program will expire on November 2012. It made our total number of treasury stocks reached more than1 billion shares.

Segment Information
Telkom changed operating segment information that previously was reported based on product namely Fixed Wireline, Fixed Wireless and Cellular to be based on customer line namely Consumer, Corporate, and Other. Consumer segment provides services to individual and home based customers, meanwhile Corporate segment provides services to corporation and institution customers. Other segment reconciles other than Consumer and Corporate segment. The Consumer segment derives revenue mainly from cellular services, fixed line (wireline and wireless), pay tv, data and internet. The Corporate segment derives revenue mainly from interconnection services, leased lines, satellite, VSAT, contact center, broadband access, information technology services, data and internet. The remaining operations within Other segment derives revenue mainly from property management services.

Recent Development
In August 2012, through one of its subsidiaries, Telkomsigma, Telkom acquired a 3,200 m2 data center in Sentul, West Java. This will increase our capacity to serve the demands on data center services. The acquisition makes total capacity of Telkoms data center to be 11,500 m2. This is a part of efforts to strengthen our IT business. We aimed to increase our data center capacity to be 24,000 m2 by 2016. PT. Telekomunikasi Indonesia International (Telin), one of Telkoms Subsidiaries, was awarded 15 years of spectrum licenses for mobile telecommunications services at a frequency of 850 MHz, 900MHz, 1800 MHz, and 2.1 GHz band and the Registration Service Provider in the Democratic Republic of Timor-Leste. By bagging the license, Telin was ready to hold service for Global System for Mobile Communications (GSM) and third generation (3G) in Timor-Leste with total investment amount no less than US$ 50 million during the first five years. Telin will provide a complete service in Timor-Leste, with strong support from PT Telekomunikasi Selular (Telkomsel). Telin will provide the core service in the form of wireless broadband, business solutions and digital lifestyle. In addition, Telin also will provide network-based service, such as data service and Internet Protocol (IP) Transit. Telkom has received a letter from ISS Reshetnev Rusia as the main contractor of Telkom-3 Satellite. It officialy stated that Telkom-3 Satellite has been lost since it could not be returned to the intended orbit, as there was an anomaly in the launching process on August 7, 2012. Telkom fully insured the satellite to PT Asuransi Jasa Indonesia (Jasindo) and Jasindo has confirmed to pay the full amount of Telkoms claim.

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NINE MONTHS 2012 RESULTS (UNAUDITED)

Following the dispute between Telkomsel and PT Prima Jaya Informatika (PT Prima), a Telkomsels distributor of pulse reload vouchers under a distribution agreement by both parties, the Jakarta Commercial Court at the Central Jakarta District Court accepted the bankruptcy petition against Telkomsel filed by PT Prima based on its verdict on September 14, 2012. The bankruptcy petition was filed by PT Prima on the basis of: PT Primas claim on overdue receivable from Telkomsel amounted to Rp5.26 billion which represents the value of undelivered pulse reload vouchers based on orders covered by purchase orders; and receivable of another company from Telkomsel. Telkomsel has contested PT Primas claim and stated that Telkomsels payable to the other company has been fully repaid. Besides, PT Prima has no right to claim receivable from Telkomsel, considering that PT Prima has not made any payment to Telkomsel on its orders. PT Prima has also breached the terms and conditions as stipulated in the above-mentioned agreement. Therefore, the requirement for a bankruptcy petition should have not been met. The decision of the Jakarta Commercial Court at the Central Jakarta District Court is not in the favor of Telkomsel. Telkomsel has taken necessary actions and legal remedy to challenge the above court decision by filing an appeal to the Supreme Court on September 21, 2012. As of the date of this report, the appeal to the Supreme Court is still in process. Notwithstanding the bankruptcy status, considering that Telkomsel is a healthy company with sufficient resources to fulfill its obligations, the Supervisory Judge has allowed Telkomsel to continue its business activity. While the examination of the appeal to the Supreme Court is still in process, Telkomsel cannot determine the financial impact of bankruptcy.

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NINE MONTHS 2012 RESULTS (UNAUDITED)

Table 1 PERUSAHAAN PERSEROAN (PERSERO) PT. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION DECEMBER 31, 2011 (AUDITED) AND SEPTEMBER 30, 2012 (UNAUDITED) (Figures in tables are presented in billions of Rupiah) DEC 31, 2011 ASSETS CURRENT ASSETS Cash and cash equivalents Available-for-sale financial assets Trade receivables Related parties Third parties Other receivables - net of provision for impairment of receivable Inventories - net of provision for obsolesce Advances and prepaid expenses Claims for tax refund Prepaid taxes Assets held for sale Other current assets Total Current Assets NON-CURRENT ASSETS Long-term investment - net Property, plant and equipment - net of accumulated depreciation Prepaid pension benefit costs Advances and other non-current assets Intangible assets - net of accumulated amortisation Deferred tax assets - net Total Non-current Assets TOTAL ASSETS SEP 30, 2012

9,634 361 932 3,983 335 758 3,294 371 787 791 12 21,258

11,925 333 2,164 3,995 2,288 664 2,532 423 244 453 4 25,025

235 74,897 991 3,817 1,789 67 81,796 103,054

266 74,501 1,023 2,854 1,661 72 80,377 105,402

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NINE MONTHS 2012 RESULTS (UNAUDITED)

Table 1 (Continued) PERUSAHAAN PERSEROAN (PERSERO) PT. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION DECEMBER 31, 2011 (AUDITED) AND SEPTEMBER 30, 2012 (UNAUDITED) (Figures in tables are presented in billions of Rupiah) DEC 31, 2011 LIABILITIES AND EQUITY CURRENT LIABILITIES Trade payables Related parties Third parties Other payables Taxes payables Dividend payables Accrued expenses Unearned income Advances from customers and suppliers Short-term bank loans Current maturities of long-term liabilities Total Current Liabilities NON-CURRENT LIABILITIES Deferred tax liabilities - net Unearned income Long service awards provisions Post-retirement health care benefit provisions Retirement benefits obligation Long-term liabilities - net of current maturities: Obligations under finance leases Two-step loans - related party Bonds and notes Bank loans Total Non-current Liabilities TOTAL LIABILITIES EQUITY EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT Capital stock - Rp.250 par value per Series A Dwiwarna share and Series B share Authorized - 1 Series A Dwiwarna share and 79,999,999,999 Series B shares Issued and fully paid - 1 Series A Dwiwarna share and 20,159,999,279 Series B shares Additional paid-in capital Treasury stock Difference in value arising from restructuring transactions and other transactions between entities under common control Difference due to change of equity in associated companies Unrealized holding gain from available-for-sale securities Translation adjustment Difference due to acquisition of non-controlling interest in subsidiaries Other reserves Retained earnings Appropriated Unappropriated Total Equity Attributable to Owners Of The Parent Non-controlling Interest TOTAL EQUITY TOTAL LIABILITIES AND EQUITY SEP 30, 2012

838 7,479 37 1,039 1 4,790 2,821 271 100 4,813 22,189 3,794 242 287 888 1,715 314 2,012 3,401 7,231 19,884 42,073

908 7,103 163 2,263 3 5,393 2,888 319 238 4,736 24,014 3,448 199 283 686 2,147 255 1,966 3,358 6,281 18,623 42,637

5,040 1,073 (6,323) 478 386 47 240 (485) 15,337 31,717 47,510 13,471 60,981 103,054

5,040 1,073 (8,024) 478 386 55 244 (501) 49 15,337 34,591 48,728 14,037 62,765 105,402

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NINE MONTHS 2012 RESULTS (UNAUDITED)

Table 2 PERUSAHAAN PERSEROAN (PERSERO) PT. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2011 AND 2012 (UNAUDITED) (Figures in tables are presented in billions of Rupiah, except per share and per ADS data) 2011 REVENUES Other income EXPENSES Operations, maintenance and telecommunication services Depreciation and amortization Personnel Interconnection General and administrative Marketing Loss on foreign exchange - net Share of loss of associated companies Others expense Total Expenses PROFIT BEFORE FINANCE (COST) INCOME AND INCOME TAX Finance income Finance costs Total Finance Costs - Net PROFIT BEFORE INCOME TAX INCOME TAX (EXPENSE) BENEFIT Current Deferred PROFIT FOR THE PERIOD OTHER COMPREHENSIVE INCOME Foreign currency translation Change in fair value of available-for-sale financial assets Total Other Comprehensive Income net of tax TOTAL COMPREHENSIVE INCOME FOR THE PERIOD Profit for the period attributable to: Owners of the parent Non-controlling interest 52,833 388 2012 56,864 549

(12,566) (10,782) (6,468) (2,531) (1,795) (2,370) (40) (2) (100) (36,654) 16,567 386 (1,209) (823) 15,744

(12,845) (10,601) (6,299) (3,375) (2,216) (2,209) (297) (4) (264) (38,110) 19,303 364 (847) (483) 18,820

(4,294) 256 (4,038) 11,706

(5,071) 369 (4,702) 14,118

1 (5) (4) 11,702

4 8 12 14,130

8,385 3,321 11,706

10,001 4,117 14,118

Total comprehensive income attributable to: Owners of the parent Non-controlling interest

8,381 3,321 11,702

10,013 4,117 14,130

BASIC EARNINGS PER SHARE Income per share Income per ADS (40 Series B shares per ADS)

427.03 17,081.20

520.34 20,813.60

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NINE MONTHS 2012 RESULTS (UNAUDITED)

Table 3 PT. TELEKOMUNIKASI SELULAR (TELKOMSEL) AND SUBSIDIARIES STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2011 (AUDITED) AND SEPTEMBER 30, 2012 (UNAUDITED) (figures are presented in billions of Rupiah) DEC 31, 2011 ASSETS CURRENT ASSETS Cash & cash equivalents Acct. / including Unbilled receivables Prepayments Others Total Current Assets NON-CURRENT ASSETS Long-term investment Fixed assets-net Advances for fixed assets Intangible assets-net Prepayments Non Current Portion Others Total Non-Current Assets TOTAL ASSETS LIABILITIES AND STOCKHOLDERS EQUITY CURRENT LIABILITIES Accounts payable & Accrued Liabilities Taxes payable Unearned revenue Current maturities of medium-term & long-term loans Total Current Liabilities NON-CURRENT LIABILITIES Medium-term & long-term - net of current maturities Deferred tax liabilities Others Total Non-current Liabilities EQUITY Capital Stock - Rp1,000,000 par value Authorized - 650,000 shares Issued and fully paid - 182,570 shares Additional paid-in capital Retained earnings Total Equity TOTAL LIABILITIES AND EQUITY SEP 30, 2012

4,223 1,038 2,472 2,122 9,855

6,800 1,119 1,513 1,325 10,757

20 46,208 530 1,033 947 129 48,868 58,723

20 45,273 552 1,028 1,028 276 48,177 58,934

8,466 760 2,478 2,271 13,975

8,588 1,508 2,557 1,507 14,160

3,486 2,363 523 6,372

2,049 2,051 837 4,937

183 1,505 36,688 38,376 58,723

183 1,505 38,149 39,837 58,934

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NINE MONTHS 2012 RESULTS (UNAUDITED)

Table 4 PT. TELEKOMUNIKASI SELULAR (TELKOMSEL) AND SUBSIDIARIES STATEMENT OF COMPREHENSIVE INCOME NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2011 AND 2012 (UNAUDITED) (figures in tables are presented in billions of Rupiah, otherwise stated) 2011 REVENUES Postpaid Prepaid International Roaming revenues Interconnection revenues Other (USO compensation & network lease) Total Revenues EXPENSES Personnel Operation & maintenance General & administrative Marketing Interconnection Cost of services Depreciation Others - net Total Expenses Interest income & financing charges INCOME BEFORE TAX INCOME TAX EXPENSE TOTAL PROFIT/COMPREHENSIVE INCOME FOR THE PERIOD EBITDA EBITDA Margin ROA ROE 3,251 29,504 520 2,354 400 36,029 2012 3,190 33,121 540 2,638 369 39,858

1,245 7,835 618 1,569 1,957 2,255 7,591 (122) 22,948 (359) 12,722 3,213 9,509 20,550 57% 21% 38%

1,543 8,193 674 1,451 2,378 2,925 7,141 (98) 24,207 15,651 3,931 11,720 22,694 57% 26% 40%

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