Investor memo. Full Year March Good results closed the year

Transcription

1 Investor memo Tickers IDX : ISAT Market Capitalization (As of 31 December 2015) IDR29.89 trillion Issued Shares 5,433,933,500 Share Price (IDX:ISAT) (As of 31 December 2015) IDR5,500 Hi/Lo (twelve months) IDR5,800/IDR3,500 Shareholder Structure (As of 31 December 2015) Ooredoo Asia 65.00% Republic of Indonesia 14.29% Free Float 20.71% IDR to USD Conversion 1 USD = IDR13,795 (31 December 2015) Corporate and Bond Ratings (31 December 2015) Moody s : Stable Outlook : Ba1 S&P : Positive Outlook : BB+ Fitch : Stable Outlook : BBB AAA (idn) Pefindo : Stable Outlook idaaa/local Currency Debt idaaa (sy)/local Sukuk Ijarah Investor Relations & Corporate Secretary PT Indosat Tbk - Indonesia Ph: / Fax: investor@indosat.com Please refer to the important disclaimer at the back of this document Full Year March 2016 Good results closed the year Results Highlights Consolidated revenues increased by 11.1% in the year ended 31 December 2015 compared to the previous year. This growth was driven primarily by Cellular revenues, which increased by 12.4%, contributed mainly by Data revenue growth of 56.9%. Fixed Data continued to grow by a healthy 7.0% compared to the previous year mainly driven by increase capacity in fixed internet, while Fixed Voice (Fixed Telecom) revenues grew 2.1% primarily from favorable foreign exchange rate. Cash-out for CAPEX investments of IDR7,354.5 billion in the year focused on network modernization, capacity expansion and coverage to support future demands for data services, as well as internal business support system enhancements. Audited Consolidated Statement of Profit or Loss and Other Comprehensive Income for years ended 31 December 2015 and 2014 (in IDR billion) FY 2015 FY 2014* Change (%) Operating Revenues 26, , Cellular 21, , Fixed Data 3, , Fixed Telecom 1, , Operating Profit 2, Loss for the Year Attributable to Owners of the Parent (1,310.0) (2,008.4) (34.8) EBITDA** 11, , Audited Consolidated Statement of Financial Position as of 31 December 2015 and 2014 (in IDR billion) FY 2015 FY 2014* Change (%) Total Assets 55, , Total Liabilities 42, , Total Equity*** 13, ,298.6 (7.2) Total Debt 23, , Obligation Under Finance Lease 3, ,052.3 (2.1) Financial Ratios as of 31 December 2015 and 2014 Formula FY 2015 FY 2014* EBITDA Margin EBITDA/Operating Revenue Interest Coverage**** EBITDA/Interest Expense Gross Debt to Equity Gross Debt /Total Equity Debt to EBITDA Gross Debt / Total EBITDA * Restated due to implementation of PSAK 24 (revised 2013) effective January 1, ** EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-gaap measure that management believes is a useful a supplemental measure of cash available prior to debt service, capital expenditures and income tax. Investors are cautioned that EBITDA should not be construed as an alternative to net income determined in accordance with GAAP as an indicator of the Company s performance or to cash flows from operations as a measure of liquidity and cash flows. EBITDA does not have a standardized meaning prescribed by GAAP. The Company s method of calculating EBITDA may differ from the methods used by other companies and, accordingly, it may not be comparable to similarly titled measures used by other companies. *** Including non controlling interests. **** Calculated using EBITDA and interest expense for the years ended December 31, 2015 and 2014.

2 FULL YEAR 2015 OPERATING AND FINANCIAL RESULTS PT Indosat Tbk ( Indosat Ooredoo or the Company ) has released its audited consolidated financial statements for the Year 2015 ( FY 2015 ). The audited consolidated financial statements have been prepared in accordance with Indonesian Financial Accounting Standards (IFAS). Audited Consolidated Statement of Profit or Loss and Other Comprehensive Income Key Indicators YoY Quarterly (in IDR billion) FY 2015 FY 2014* Growth % 4Q Q 2015 Growth % Revenues 26, , , , Cellular 21, , , , Fixed Data 3, , Fixed Telecom 1, , Expenses (24,406.4) (23,438.3) 4.1 (6,712.9) (6,113.5) 9.8 Operating Profit 2, (44.1) Other Expenses - Net (4,147.9) (2,608.8) 59.0 (607.0) (1,608.4) (62.3) Loss for the Year Attributable to Owners of The Parent (1,310.0) (2,008.4) (34.8) (187.7) (388.5) (51.7) AUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Revenues of IDR26,768.5 billion were recorded in FY 2015, an increase of IDR2,683.4 billion or 11.1% compared to FY2014. Indosat s Cellular, Fixed Data, and Fixed Voice businesses contributed 82%, 14%, and 4% respectively to the consolidated operating revenues for the year ended 31 December Cellular Revenues increased by 12.4% in FY 2015, mainly attributable to increases in Data, SMS, Voice and VAS revenue, offset by decreased in Interconnection revenue. Fixed Data (MIDI) Revenues increased by 7.0% compared to FY 2014, mainly driven by increase capacity in fixed internet. Fixed Voice (Fixed Telecom) Revenues increased by 2.1% compared to FY 2014, contributed by favorable foreign exchange rate. Expenses of IDR24,406.4 billion were recorded for FY 2015, an increase of IDR968.1 billion or 4.1% over FY Cost of Telecommunication Services: increased by IDR805.0 billion or 7.7% compared to FY 2014 mainly as a result of increase in frequency fees, maintenance and rent offset by decrease in leased circuit, BlackBerry license fee and interconnection expenses in line with lower interconnection revenues. Depreciation and Amortization: increased by IDR543.0 billion or 6.6% over FY 2014, due to additional asset recognition from network modernization deployment. Personnel Expenses: increased by IDR182.5 billion or 10.5% over FY 2014 mainly owing to higher headcount. Marketing Expenses: increased by IDR191.8 billion or 18.4% over FY 2014, primarily from marketing activities related with rebranding and intense offering in Data. General and Administration expenses: increased by IDR64.1 billion or 7.5% over FY 2014 mainly owing to higher network insurance and professional fees. Other Expense - net: Indosat recorded expense of IDR4,147.9 billion, increased by IDR1,539.1 billion or 59.0% over expense recorded in FY 2014 driven primarily by higher loss on foreign exchange - net, higher financing cost, and higher loss on change in fair value of derivative - net. Loss on Foreign Exchange - net: Indosat recorded a net foreign exchange loss in FY 2015 of IDR1,292.5 billion compared to a net foreign exchange loss of IDR243.2 billion in FY 2014 as a result of higher IDR depreciation against USD in FY 2015 compared to IDR depreciation against USD in FY 2014 over respective previous year end. Financing Costs: increased by ID423.0 billion or 17.6% over FY 2014 due to the increase of interest rate reference on revolving time loan facilities and also premium paid for the early redemption of Guaranteed Notes 2020 ( GN 2020 ). Interest Income: increased by IDR75.8 billion or 53.0% over FY 2014 as a result of higher foreign exchange rate from more USD denominated time deposits in respective year. 2

3 Loss on Change in Fair Value of Derivatives - net: Indosat recorded loss, increased by IDR142.6 billion over loss recorded in FY 2014 as the impact of higher derivative contract rate in the end of year 2015 compared to book closing rate. Loss for the Year Attributable to Owners of the Parent: Indosat recorded loss, decreased by 34.8% over loss recorded in FY 2014 caused primarily by the absence of provision for IM2 case that was booked in 1H 2014, offset by increase in net foreign exchange loss 304.4%. Audited Consolidated Statement of Financial Position Key Indicators (in IDR billion) FY 2015 FY 2014* Growth % Total Assets 55, , Total Liabilities 42, , Total Equity 13, ,298.6 (7.2) Current assets increased by 15.5% to IDR9,918.7 billion, mainly resulting from increase in cash and cash equivalent, account receivables and prepaid expenses. Non-current assets increased by 1.8% to IDR45,469.8 billion, mainly resulting from increase in asset acquisition and long-term prepayments. Current liabilities decreased by 5.2% to IDR20,052.6 billion mainly due to the early redemption of GN Non-current liabilities increased by 23.8% to IDR22,072.1 billion mainly due to drawdown of new loans as part of GN 2020 early retirement program. Cash Flow and Capital Expenditure Key Indicators (in IDR billion) FY 2015 FY 2014 Growth % Net Cash Provided by Operating Activities 8, , Net Cash Used in Investing Activities (7,145.4) (5,003.6) 42.8 Net Cash Used in Financing Activities (1,085.4) (1,057.4) 2.6 Net Foreign Exchange Differences from Cash and Cash Equivalents (41.3) Net Increase in Cash and Cash Equivalents ,246.5 (88.5) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3, , CASH AND CASH EQUIVALENTS AT END OF YEAR 3, , Net Cash Provided by Operating Activities increased by 12.5% mainly due to higher proceeds from customer which is in line with revenue growth, refund of corporate income taxes, settlement from currency forwards contracts which is offset by higher financing cost and payment to suppliers. Net Cash Used in Investing Activities increased by 42.8% mainly due to addition of fixed asset and the absence of proceeds from sale of investment in shares in Net Cash Used in Financing Activities increased by 2.6% mainly due to repayments of debts and bonds, offset with additional refinancing from loans and bonds. Net Foreign Exchange Differences from Cash and Cash Equivalents increased by 364.4% due to depreciation of the IDR on Cash and Cash Equivalents. Net change in Cash and Cash Equivalents decreased by 88.5% mainly due to higher cash capex. Cash-out CAPEX in FY 2015 amounted to IDR7,354.5 billion, an increase of 14.1% over FY Of this amount, approximately 83.1% was allocated to cellular, mainly to support data services demand. The remaining balance was allocated to fixed voice, fixed data, infrastructure and IT Capex. STATUS OF DEBT As of 31 Dec 2015, Indosat s total debt increased by 2.3% compared to 31 December Debt repayments during the year were for SEK Loan Tranche A, B & C installments of USD45.0 million, HSBC Coface and Sinosure installments of USD20.1 million, 9-Year Commercial Loan installment from HSBC of USD4.1 million, early redemption of GN 2020 of USD 650 million, Indosat Bond VI series B settlement of IDR320.0 billion, RCF BSMI Facility of IDR100,0 billion, BCA Investment credit facility of IDR100,0 billion and settlement of loans from noncontrolling interest of APE of IDR15.75 billion. Debt issuance during the year were RCF BCA Facility drawdown of IDR900,0 billion, RCF BNI Facility drawdown of IDR600,0 billion, RCF BTMU Facility drawdown of IDR250,0 billion, Indosat Bond I Phase II issuance of IDR2,68 trillion, Indosat Sukuk Ijarah I Phase II issuance of IDR416,0 billion, Indosat Bond I Phase III issuance of IDR794,0 trillion, Indosat Sukuk Ijarah I Phase III issuance of IDR106,0 billion, USD RCF BTMU of 3

4 USD50.0 million, USD RCF Mizuho of USD60.0 million, USD RCF Citibank of USD30.0 million, USD RCF DBS of USD50.0 million and USD RCF ANZ of USD100.0 million. Total outstanding debt: As at 31 December 2015, the Company had total outstanding debts (net of unamortized debt issuance cost and consent solicitation fees) including obligation under financial lease of IDR27,643.1 billion. The Company has foreign exchange forward swaps covering USD340.0 million or 78.7% of the Company s USD denominated loans. The Company s cash position as at 31 December 2015 stood at IDR3,623.3 billion and net debt at IDR24,019.8 billion. The composition of Indosat debt is as follows: Debt Proportion (Principal amount) FY 2015 FY 2014 Growth % IDR Loans (billion) 6, , USD Loans (million) IDR Bonds (billion) 11, , USD Bonds (million) (100.0) Total maturing debt: in the next twelve months, the Company has debts of IDR5.53 trillion and USD million coming to maturity. The average tenor of debt is 3.03 years as at 31 December OPERATIONAL RESULTS Cellular Key Indicators YoY Quarterly FY 2015 FY 2014 Growth % 4Q Q 2015 Growth % Customers - Postpaid (million) (4.2) (0.7) Customers - Prepaid (million) Customers - Total (million) ARPU (Postpaid) (IDR thousand) (1.2) ARPU (Prepaid) (IDR thousand) (3.3) ARPU (Blended) (IDR thousand) (4.2) MoU (10.3) ARPM (1.7) (5.0) The Company ended FY 2015 with a cellular customer base of 69.7 million, an increase of 10.3% or 6.5 million customers over FY Average Revenue Per User (ARPU) for cellular customers in 4Q 2015 stood at IDR27.9 thousand, an increase of 3.6% over 3Q The ARPU in FY 2015 decreased 4.2% to IDR26.0 thousand compared to ARPU of last year. Average Minutes of Usage (MOU) per customer decreased to 70.3 minutes, a decrease of 10.3% compared to FY Average Revenue Per Minute (ARPM) decreased to IDR140.8 representing a decrease of 1.7% compared to FY Fixed Data (MIDI) Key Indicators Unit FY 2015 FY 2014 Growth % Indosat International High Speed Leased Circuit Mbps 131,163 94, Domestic High Speed Leased Circuit Mbps 145, , Transponder Mhz 1,126 1, IPVPN Mbps 9,903 4, Internet Mbps 69,606 43, Frame Relay Mbps - 2 (100.0) Lintasarta High Speed Leased Line 64Kbps 7,052,067 3,948, Frame Relay 64Kbps 99, ,684 (13.0) VSAT 64Kbps 166, , IPVPN 64Kbps 1,822,832 1,423, IM2 Internet Dial Up User 3,527 3,614 (2.4) Internet Dedicated Link IPVPN Link Leased Line capacity increased along demand from domestic customer particularly wholesale provider, while Transponder were flat due to limited capacity of transponder on PALAPA-D. IPVPN increased mainly contributed by additional customer from banking, supply chain, and telecom segment. Discontinued Frame Relay services were caused by its obsolete service while its customer willing to change to another services. 4

5 MARKETING ACTIVITIES Cellular Benefit 4G Plus For Everyone Launched on 20 November 2015, this program offers free additional 4G quota up to 10GB, content and 10K minutes on net voice. Plus in 4Gplus Indosat Ooredoo offers more than just a bandwidth or high speed internet. This program is also one of our initiatives to ease our customer, we want customers to be able to stream a football match live without buffering, to make video calls via Skype without interruptions, to be able to work confidently on-the-go and to browse, chat and upload a selfie without delays. With this program, customers be able to enjoy best digital telco experience. Freedom Tarif Rp1/detik ke Semua Operator Launched on 7 December 2015, this is the new tariff scheme with IDR1/sec voice to all operator as the main promotion, eligible for all activated starter pack from 7 December 2015, valid for outside Java (ex. Lampung, Baturaja, and Papua). Simply with buy and activate starter pack in determined areas start from 7 December 2015, customer will get this promo with no registration is required. Prepaid LTE Bundling Polytron Zap 6 Launched on 19 Desember 2015, this program bundled Polytron Zap 6 with Kartu Mentari. Bundling program is available at Erafone, Giant, Carefour, sentra ponsel and Blibli.com with retail price of IDR1,899,000,-. Aside of getting latest Polytron LTE smartphone, customer will also get 6GB data package benefit for 3 months (2GB each month) namely 500MB in 2G/3G/4G network and 1,5GB only in 4G network. In order to maintain the benefit in the 2 nd and 3 rd month, customer should keep its active period by reloading credit with minimum of IDR50K before renewal (7 days before package is over). NETWORKS The Company operated 50,687 BTSs as of 31 December 2015, including 4G BTSs or added 10,383 BTSs compared to previous year. To date, The Company operates 3,361 sites for 4G network in 35 main cities in Indonesia. Significant CAPEX investments focused on network modernization and data readiness, coverage, and capacity expansion to support ongoing growth. Key Indicators YoY FY 2015 FY 2014 Additional Base Transceiver Stations (BTS) 2G 23,596 22,166 1,430 3G 4G 23,730 3,361 18, ,667 3,286 Base Station Controllers (BSC) Mobile Switching Centers (MSC) (3) REBORN INFORMATION On November 19, 2015, PT Indosat Tbk (Indosat) launched its new identity, Indosat Ooredoo, as part of a corporate-wide transformation to become the digital leader for the people and build Indonesia s leading digital telco. The new identity represents corporate-wide transformation to write digital into the DNA of the company. Succeeded in its previous growth plan and achieved leadership in data, Indosat Ooredoo eyes to be the leader in digital for the people. Looking forward, Indosat Ooredoo set ambitious target to be #1 in digital revenue, #1 in digital experience and #1 in digital brand preference in Indonesia. About Indosat Indosat Ooredoo (IDX:ISAT), member of Ooredoo Group, is building Indonesia s leading digital telco, enabling access and greater connectivity for everybody and every business. Focusing on human growth, Indosat Ooredoo aspires to enrich the lives of Indonesians in the digital world and proactively offer solutions to fulfill their needs. The company reported 69.7 million mobile customers as of FY 2015 and has recorded an increase of 133% in data usage compared to last year. Supported by 3,000 employees, Indosat Ooredoo has recorded an increase revenue of 11.1% compared to last year. Indosat Ooredoo was recognised in the Most Innovative Company of the Year category in the 2015 Asia Pacific Stevie Awards. 5

6 APPENDICES AUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For The Years Ended 31 December 2015 and 2014 (Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollar) Description Years Ended 31 December * IDR USD (1) IDR Growth (2) (%) REVENUES Cellular 21, , , Multimedia, Data Communication, Internet (Fixed Data) 3, , Fixed Telecommunications 1, , TOTAL REVENUES 26, , , EXPENSES (INCOME) Cost of Telecommunication Services (11,213.9) (812.9) (10,408.9) 7.7 Depreciation and Amortization (8,769.1) (635.7) (8,226.1) 6.6 Personnel (1,921.1) (139.3) (1,738.6) 10.5 Marketing (1,236.7) (89.6) (1,044.9) 18.4 General and Administration (923.6) (66.9) (859.5) 7.5 Loss on Foreign Exchange - net (306.6) (22.2) (152.3) Amortization of Deferred Gain on Sale and Leaseback of Towers Gain on Sale of Available-for-Sale Investment (100.0) Provision for Legal Case - - (1,358.6) Others - net (176.5) (12.8) (204.2) (13.6) TOTAL EXPENSES (24,406.4) (1,769.2) (23,438.3) 4.1 OPERATING PROFIT 2, Interest Income Financing Cost (2,829.5) (205.1) (2,406.5) 17.6 Loss on Foreign Exchange - net (1,292.5) (93.7) (243.2) Loss on Change in Fair Value of Derivatives - net (244.5) (17.7) (101.9) OTHER EXPENSES - Net (4,147.9) (300.7) (2,608.8) 59.0 LOSS BEFORE INCOME TAX (1,785.8) (129.5) (1,962.0) (9.0) INCOME TAX BENEFIT LOSS FOR THE YEAR (1,163.5) (84.4) (1,878.2) (38.1) PROFIT (LOSS) FOR THE YEAR ATTRIBUTABLE TO : OWNERS OF THE PARENT (1,310.0) (95.0) (2,008.4) (34.8) NON-CONTROLLING INTERESTS TOTAL (1,163.5) (84.4) (1,878.2) (38.1) 1) Translated into U.S. dollars using IDR13,795 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date 2) Percentage changes may vary due to rounding. 6

7 AUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of 31 December 2015 (Expressed in Billions of Indonesian Rupiah and Millions of US Dollar) Description 31 December December 2014* Growth (2) IDR USD (1) IDR (%) ASSETS Current Assets 9, , Non-Current Assets 45, , , TOTAL ASSETS 55, , , LIABILITIES Current Liabilities 20, , ,147.8 (5.2) Non-Current Liabilities 22, , , TOTAL LIABILITIES 42, , , TOTAL EQUITY 13, ,298.6 (7.2) TOTAL LIABILITIES & EQUITY 55, , , ) Translated into U.S. dollars using IDR13,795 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date 2) Percentage changes may vary due to rounding. AUDITED CONSOLIDATED STATEMENT OF CASH FLOWS For The Years Ended 31 December 2015 and 2014 (Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollar) Description IDR USD (1) IDR Net Cash Provided by Operating Activities 8, ,348.8 Net Cash Used in Investing Activities (7,145.4) (518.0) (5,003.6) Net Cash Used in Financing Activities (1,085.4) (78.6) (1,057.4) Net Foreign Exchange Differences from Cash and Cash Equivalents (41.3) Net Increase in Cash and Cash Equivalents ,246.5 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3, ,233.5 CASH AND CASH EQUIVALENTS AT END OF YEAR 3, , ) Translated into U.S. dollars using IDR13,795 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date STATUS OF DEBT Facility Amount Maturity Interest IDR Bond (IDR Billion) Bond V 1, Series B Fixed 10.65% p.a. Bond VII Bond VIII Indosat Bond I Phase I Indosat Bond I Phase II Series B Fixed 11.75% p.a. 2, & 2022 Series A Fixed 8.625% p.a. and Series B Fixed 8.875% p.a. 2,310 2, , 2019, 2021 & , 2018, 2020, 2022 & 2025 Series A Fixed 10.00% p.a., Series B Fixed 10.30% p.a., Series C Fixed 10.50% p.a. and Series D Fixed 10.70% p.a. Series A Fixed 8.55% p.a, Series B Fixed 9.25% p.a, Series C Fixed 10.00% p.a, Series D Fixed 10.25% p.a and Series E Fixed 10.40% Indosat Bond I Phase III Sharia Bond (IDR Billion) , 2020, 2022 & 2025 Sukuk Ijarah IV Series A Fixed 10.00% p.a, Series B Fixed 10.25% p.a, Series C Fixed 10.60% p.a and Series D Fixed 11.20% p.a Fixed Ijarah Return amounting to IDR 5.05 for Series B payable on a quarterly basis Sukuk Ijarah V Fixed Ijarah Return amounting to IDR 6.47 payable on a quarterly basis Indosat Sukuk Ijarah I Phase I , 2019 & Fixed Ijarah Return amounting to IDR1.60, IDR0.412, and IDR2.89 for Series A, B and C payable on a quarterly basis 2016, 2018, Fixed Ijarah Return amounting to IDR1.18, IDR1.76, IDR1.68,

8 Facility Amount Maturity Interest Indosat Sukuk Ijarah I Phase II Indosat Sukuk Ijarah I Phase III , 2022 & & 2025 IDR1.10 and IDR4.55 for Series A, B,C D and E payable on a quarterly basis Fixed Ijarah Return amounting to IDR1,72 and IDR1,15 for Series A and B payable on a quarterly basis IDR Loan (IDR Billion) RCF - BCA 1, & 2018 Floating rate 1 month JIBOR % p.a. RCF - BSMI Floating rate 1 month JIBOR % p.a. RCF - BNI 1, Floating rate 1 month JIBOR % p.a. RCF - IIF/SMI Floating rate 3 month JIBOR % p.a. RCF - Mizuho Floating rate 1 month JIBOR % p.a. RCF - BTMU Floating rate 1 month JIBOR % p.a. RCF - BNPP RCF - SMI Floating rate 1 month JIBOR % p.a. Floating rate 3 month JIBOR % p.a. BCA - Investment Credit Fixed 10.00% p.a. Facility Loans from non-controlling interest of LMD*** Fixed 2.00% p.a. USD Loan (USD Million) HSBC France - Coface Fixed 5.69% p.a. HSBC France - Sinosure Floating Rate based on 6m US LIBOR % p.a.* 9 Year Commercial Facility SEK Loan & Floating Rate based on 6m US LIBOR % p.a.** Floating Rate based on 6m US LIBOR % p.a. over USD7.14; Fixed rate 4.26% p.a. over USD33.21; Fixed rate 4.24% p.a. over USD17.14 RCF - BTMU Floating Rate based on 1m US LIBOR % p.a. RCF - Mizuho Floating Rate based on 1m US LIBOR % p.a RCF - Citibank Floating Rate based on 1m US LIBOR % p.a RCF - DBS Floating Rate based on 1m US LIBOR % p.a RCF - ANZ Floating Rate based on 1m US LIBOR % p.a**** * Swapped to Fixed Rate at 4.82% p.a. ** Swapped to Fixed Rate at 5.42% p.a. *** LMD (PT Lintas Media Danawa) are indirect subsidiary of the Company through PT Aplikanusa Lintasarta ( Lintasarta ) **** Libor 1M swapped to Fixed Rate 0.73% p.a. DEBT MATURITIES WITHIN THE NEXT TWELVE MONTHS (FULL AMOUNTS) Maturity 1Q Q Q Q 2016 Facility SEK Loan Tranche B Inst. HSBC France - Coface HSBC France - Sinosure Inst. RCF - BCA 9 Year Commercial Inst. SEK Loan Tranche A Inst. SEK Loan Tranche C Inst. RCF - BNI Indosat PUB1 - Tahap II A Sukuk PUB1 - Tahap II A SEK Loan Tranche B Inst. HSBC France - Coface HSBC France - Sinosure Inst. 9 Year Commercial Inst. SEK Loan Tranche C Inst. RCF - BTMU RCF IIF & SMI Investment Credit BCA Indosat VII B Sukuk Ijarah IV B RCF - Mizuho RCF BSMI USD Amount 11,071,429 7,859,335 2,210,000 2,027,775 7,142,857 4,285,714 11,071,429 7,859,335 2,210,000 IDR 1,000,000,000,000 1,200,000,000, ,000,000,000 55,000,000,000 2,027,775 4,285,714 50,000, ,000,000, ,000,000, ,000,000, ,000,000, ,000,000, ,000,000, ,000,000,000 8

9 This document contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of Indosat, that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause actual events and Indosat's future results to be materially different than expected or indicated by such statements. No assurance can be given that the results anticipated by Indosat, or indicated by any such forward looking statements, will be achieved. The financial information provided herein is based on Indosat s consolidated financial statements in accordance with Indonesian Financial Accounting Standards. 9