Indosat First Half 2015 Investor Memo 28 August 2015

Tickers IDX : ISAT Market Capitalization (As of 30 June 2015) IDR21.73 trillion Issued Shares 5,433,933,500 Share Price (IDX:ISAT) (As of 30 June 2015) IDR4,000 Hi/Lo (six months) IDR4,485/IDR3,555 Shareholder Structure (As of 30 June 2015) Ooredoo Asia 65.00% Republic of Indonesia 14.29% Skagen AS 5.39% Free Float 15.32% IDR to USD Conversion 1 USD = IDR13,332 (30 June 2015) Corporate and Bond Ratings (30 June 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: +62 21 30442615 / 30003001 Fax: +62 21 30003757 E-mail: investor@indosat.com http://www.indosat.com Please refer to the important disclaimer at the back of this document Indosat First Half 2015 Investor Memo 28 August 2015 Solid Revenue and EBITDA growth, supported by strong data revenue growth Results Highlights Consolidated revenues increased by 8.7% in period ended 30 June 2015 compared to the previous period. This growth was driven primarily by Cellular revenues, which increased by 9.2%. Cellular revenue growth was contributed mainly by Data revenue growth. Fixed Data continued to grow by a healthy 7.6% compared to the previous period mainly driven by increase capacity in fixed internet, fixed connectivity and IT services. Fixed Voice (Fixed Telecom) revenues increased by 3.5% resulting primarily from increasing IDD traffic boosted by competitive tariff offering and higher foreign exchange rate. Cash-out for CAPEX investments of IDR2,786.4 billion in the period focused on network modernization, and capacity expansion and coverage to support future demands for data services, as well as internal business support system enhancements. Unaudited Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income for Six-month periods ended 30 June 2015 and 2014 (in IDR billion) 1H 2015 1H 2014* Change (%) Operating Revenues 12,620.0 11,613.1 8.7 Cellular 10,223.6 9,365.3 9.2 Fixed Data 1,835.3 1,705.8 7.6 Fixed Telecom 561.1 542.0 3.5 Operating Profit 1,040.0 5.0 20,832.2 Loss for the Period Attributable to (733.8) (1,117.3) (34.3) Owners of the Parent EBITDA** 5,362.3 5,026.8 6.7 Unaudited Interim Consolidated Statement of Financial Position as of 30 June 2015 and 31 December 2014 (in IDR billion) 1H 2015 FY 2014* Change (%) Total Assets 58,697.3 53,269.7 10.2 Total Liabilities 45,103.5 38,971.1 15.7 Total Equity*** 13,593.8 14,298.6 (4.9) Total Debt 28,283.7 23,146.2 22.2 Obligation Under Finance Lease 4,049.0 4,052.3 (0.1) Financial Ratios as of 30 June 2015 and 2014 Formula 1H 2015 1H 2014* EBITDA Margin EBITDA/Operating Revenue 42.50 43.30 Interest Coverage**** EBITDA/Interest Expense 5.51 5.40 Gross Debt to Equity Gross Debt /Total Equity 2.39 1.68 Debt to EBITDA Gross Debt / Total EBITDA 3.13 2.54 * Restated due to implementation of PSAK 24 (revised 2013) effective January 1, 2015. ** 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 six-month periods ended June 30, 2015 and 2014. 1

FIRST HALF 2015 OPERATING AND FINANCIAL RESULTS PT Indosat Tbk ( Indosat or the Company ) has released its interim consolidated financial statements for the First Half 2015 ( 1H 2015 ). The interim consolidated financial statements have been prepared in accordance with Indonesian Financial Accounting Standards (IFAS). Unaudited Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income Key Indicators YoY Quarterly (in IDR billion) 1H 2015 1H 2014* Growth % 2Q 2015 1Q 2015 Growth % Revenues 12,620.0 11,613.1 8.7 6,527.0 6,093.0 7.1 Cellular 10,223.6 9,365.3 9.2 5,320.7 4,902.9 8.5 Fixed Data 1,835.3 1,705.8 7.6 935.6 899.7 4.0 Fixed Telecom 561.1 542.0 3.5 270.7 290.4 (6.8) Expenses (11,580.0) (11,608.1) (0.2) (5,988.9) (5,591.1) 7.1 Operating Profit 1,040.0 5.0 20,832.2 538.1 501.9 7.2 Other Expenses - Net (1,932.5) (1,083.9) 78.3 (879.6) (1,052.9) (16.5) Loss for the Period Attributable to Owners of The Parent (733.8) (1,117.3) (34.3) (278.2) (455.6) (38.9) UNAUDITED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Revenues of IDR12,620.0 billion were recorded in 1H 2015, an increase of IDR1,006.9 billion or 8.7% compared to 1H 2014. Indosat s Cellular, Fixed Data, and Fixed Voice businesses contributed 81%, 15%, and 4% respectively to the consolidated operating revenues for the period ended 30 June 2015. Cellular revenues increased by 9.2% in 1H 2015, mainly attributable to increases in Data and VAS revenue offset by decreased in voice and Interconnection revenue. Fixed Data (MIDI) revenues increased by 7.6% compared to 1H 2014, mainly driven by increase capacity in fixed internet, fixed connectivity and IT services. Fixed Voice (Fixed Telecom) revenues increased by 3.5% compared to 1H 2014, owing to higher international direct dial (IDD) traffic as a result of recent competitive tariff offering and higher foreign exchange rate. Expenses of IDR11,580.0 billion were recorded for 1H 2015, a decrease of IDR28.1 billion or 0.2% over the same period in 2014. The decrease mostly contributed by the absence of provision for IM2 case that was booked in 1H 2014 offset by increased cost of service, depreciation and amortization, personnel expenses, marketing expenses, and general and administration expenses. Cost of services: increased by IDR439.2 billion or 8.9% compared to 1H 2014 mainly as a result of increase in frequency fees, maintenance, rent, cost of SIM card and reload voucher, and costs of handsets and modems, offset by decrease in leased circuit, BlackBerry license fee and interconnection expenses in line with lower revenues. Depreciation and amortization: increased by IDR216.5 billion or 5.5% over 1H 2014, due to additional asset recognition from network modernization deployment. Personnel expenses: increased by IDR52.8 billion or 6.2% over 1H 2014 mainly owing to higher headcount. General and Administration expenses: increased by IDR65.0 billion or 14.8% over 1H 2014 mainly owing to higher provision for impairment of receivables, insurance and professional fees. Marketing expenses: increased by IDR114.3 billion or 30.7% over 1H 2014, primarily from channel program related to new marketing activities. Other Expense - net: Indosat recorded expense of IDR1,932.5 billion for 1H 2015, increased by IDR848.6 billion or 78.3% over expense recorded in 1H 2014 driven primarily by loss on foreign exchange - net, offset by gain on change in fair value of derivative - net. Loss on Foreign Exchange - net: Indosat recorded a net foreign exchange loss in 1H 2015 of IDR905.3 billion compared to a net exchange gain of IDR252.4 billion in 1H 2014 as a result of IDR depreciation against USD in 1H 2015 compared to USD/IDR level as of end year 2014, while IDR was appreciated against USD in 1H 2014 over USD/IDR level as of end year 2013. Financing costs: increased by IDR51.0 billion or 4.1% over 1H 2014 due to higher amortization of bonds and loans issuance cost. Interest income: increased by IDR34.2 billion or 45.3% over 1H 2014 as a result of higher foreign exchange rate from more USD denominated time deposits in 2015. 2

Gain on change in fair value of Derivatives - net: Indosat recorded gain, increased by IDR325.9 billion over loss recorded in 1H 2014. This is the opposite of loss on foreign exchange - net. Loss for the Period Attributable to Owners of the Parent: Indosat recorded loss, decreased by 34.3% over loss recorded in 1H 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 (458.7%). Unaudited Interim Consolidated Statement of Financial Position Key Indicators (in IDR billion) 1H 2015 FY 2014* Growth % Total Assets 58,697.3 53,269.7 10.2 Total Liabilities 45,103.5 38,971.1 15.7 Total Equity 13,593.8 14,298.6 (4.9) Total assets increased by 10.2% to IDR58,697.3 billion. Total liabilities increased by 15.7% to IDR45,103.5 billion. Total equity decreased by 4.9% to IDR13,593.8 billion. Current assets increased by 69.1% to IDR14,528.3 billion, mainly resulting from increase in cash and cash equivalent and account receivables offset by decreased prepaid expenses. Non-current assets decreased by 1.1% to IDR44,169.0 billion, largely as a result of lower fixed asset due to depreciation and lower claim of tax refund. Current liabilities increased by 4.4% to IDR22,083.1 billion mainly due to higher procurement payable. Non-current liabilities increased by 29.2% to IDR23,020.4 billion mainly due to drawdown of new loan as part of USD Bond early retirement program. Cash Flow and Capital Expenditure Key Indicators (in IDR billion) 1H 2015 1H 2014 Growth % Net Cash Provided by Operating Activities 4,355.7 4,040.8 7.8 Net Cash Used in Investing Activities (2,778.1) (1,846.1) 50.5 Net Cash Provided by (Used in) Financing Activities 4,192.4 (2,148.8) 295.1 Net Foreign Exchange Differences from Cash and Cash Equivalents 170.8 (60.5) 382.3 Net Increase (Decrease) in Cash and Cash Equivalents 5,940.8 (14.6) 40,779.1 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,480.0 2,233.5 55.8 CASH AND CASH EQUIVALENTS AT END OF PERIOD 9,420.8 2,218.9 324.6 Net Cash Provided by Operating Activities increased by 7.8% mainly due proceeds from refund of corporate income taxes, settlement from currency forwards contracts and lower payment to authorities. Net Cash Used in Investing Activities increased by 50.5% mainly due to the absence of proceeds from sale of investment in shares in 2015. Net Cash Provided by Financing Activities increased by 295.1% mainly due to proceeds from long-term loans and bonds. Net Foreign Exchange Differences from Cash and Cash Equivalents increased by 382.3% due to depreciation of the IDR on Cash and Cash Equivalents. Net change in Cash and Cash Equivalents increased by 40,779.1% mainly due to proceeds from long-term loans and bonds. Cash-out CAPEX in 1H 2015 amounted to IDR2,786.4 billion, a decrease of 14.5% over 1H 2014. Of this amount, approximately 86.2% 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 30 June 2015, Indosat s total debt increased by 30.9% compared to 30 June 2014 due to drawdown of new loan as part of USD Bond early retirement program. Debt repayments during the period 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, Indosat Bond VI series B settlement of IDR320.0 billion, Indosat Bond VII Series A settlement of IDR700.0 billion, Indosat Sukuk Ijarah IV settlement of IDR28.0 billion, RCF BCA Facility of IDR1.50 trillion, RCF BTMU Facility of IDR250.0 billion, RCF BNI Facility of IDR425.0 billion, RCF IIF/SMI Facility of IDR750.0 billion and BCA Investment credit facility of IDR100.0 billion. Debt issuance during the period were RCF Mizuho Facility drawdown of IDR250.0 billion, loans from 3

non-controlling interest of APE of IDR15.75 billion, Shelf Registration Indosat Bond I Phase I issuance of IDR2.31 trillion and Shelf Registration Indosat Sukuk Ijarah I Phase I issuance of IDR 190.0 billion, Shelf Registration Indosat Bond I Phase II issuance of IDR2.68 trillion and Shelf Registration Indosat Sukuk Ijarah I Phase II issuance of IDR 416.0 billion and USD RCF BTMU of USD50.0 million, USD RCF Mizuho of USD60.0 million, USD RCF Citibank of USD40.0 million, USD RCF HSBC of USD140.0 million and USD RCF DBS of USD50.0 million. Total outstanding debt: As at 30 June 2015, the Company had total outstanding debts (net of unamortized debt issuance cost and consent solicitation fees) including obligation under financial lease of IDR32,332.7 billion. The Company has foreign exchange forward swaps covering USD609.5 million or 52.24% of the Company s USD denominated bonds and loans. The Company s cash position as at 30 June 2015 stood at IDR9,420.8 billion and net debt at IDR22,911.9 billion. The composition of Indosat debt is as follows: Debt Proportion (Principal amount) 1H 2015 1H 2014 Growth % IDR Loans (billion) 2,091.8 4,850.0 (56.9) USD Loans (million) 516.7 245.9 110.1 IDR Bonds (billion) 10,742.0 6,190.0 73.5 USD Bonds (million) 650.0 650.0 0.0 Total maturing debt: in the next twelve months, the Company has debts of IDR1,890.3 billion and USD719.2 million coming to maturity. The average tenor of debt is 2.7 years as at 30 June 2015. OPERATIONAL RESULTS Cellular Key Indicators YoY Quarterly 1H 2015 1H 2014 Growth % 2Q 2015 1Q 2015 Growth % Customers - Postpaid (million) 0.8 0.8 0.9 0.8 0.8 (0.1) Customers - Prepaid (million) 67.7 54.1 25.1 67.7 65.7 2.9 Customers - Total (million) 68.5 54.9 24.7 68.5 66.5 2.9 ARPU (Postpaid) (IDR thousand) 128.1 136.5 (6.2) 129.1 127.1 1.5 ARPU (Prepaid) (IDR thousand) 23.1 24.4 (5.4) 23.7 22.5 5.6 ARPU (Blended) (IDR thousand) 24.7 26.2 (5.9) 25.3 24.0 5.3 MoU 67.4 78.7 (14.5) 67.4 67.4 0.0 ARPM 142.5 141.3 0.8 145.5 139.5 4.3 The Company ended 1H 2015 with a cellular customer base of 68.5 million, an increase of 24.7% or 13.6 million customers over 1H 2014. Average Revenue Per User (ARPU) for cellular customers in 2Q 2015 stood at IDR25.3 thousand, an increase of 5.3% over 1Q 2014. The ARPU in 1H 2015 decreased 5.9% versus the ARPU of the same period last year. Average Minutes of Usage (MOU) per customer decreased to 67.4 minutes, a decrease of 14.5% compared to 1H 2014. Average Revenue Per Minute (ARPM) increased to IDR142.5 representing an increase of 0.8% compared to 1H 2014. Fixed Data (MIDI) Key Indicators Unit 1H 2015 1H 2014 Growth % Indosat International High Speed Leased Circuit Mbps 128,579 83,870 53.3 Domestic High Speed Leased Circuit Mbps 144,979 153,582 (5.6) Transponder Mhz 1,119 1,083 3.3 IPVPN Mbps 4,978 3,940 26.3 Internet Mbps 51,571 51,715 (0.3) Frame Relay Mbps - 4 (100.0) Lintasarta High Speed Leased Line 64Kbps 582,399 329,175 76.9 Frame Relay 64Kbps 8,400 9,644 (12.9) VSAT 64Kbps 14,135 13,155 7,5 IPVPN 64Kbps 147,851 118,216 25.1 IM2 Internet Dial Up User 3,572 3,956 (9.7) Internet Dedicated Link 720 673 7.0 IPVPN Link 348 322 8.1 Leased Line capacity increased along demand from domestic customer especially 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

MARKETING ACTIVITIES Cellular New SP Mentari Super Data 3GB 3 Month Launched on 1 April 2015, this new SP Mentari Super Data offers benefits of internet 3GB, 150 minutes voice on-net, 150 SMS all operator, and unlimited SuperWifi with the price of IDR69 thousand (previous SP Mentari Super Data price was IDR49 thousand). This SP Baru Mentari Super Data also gives 1GB internet bonuses valid for 7 days for customers who extend the service. Ketupat Ramadhan Package Launched on 4 June 2015, Paket Ketupat Ramadhan is an add-on voice, SMS and internet package, offers SANTAN (SMS terus-terusan / free SMS), TELOR (telepon saat ramadhan / free voice), OPOR (online pol ramadhan / free data) and KOMPLIT (kombinasi SMS nelpon & internetan / combination of free voice, SMS and data) packages. Started from IDR500 customer can choose a suitable package via UMB *123*888#. These packages are eligible for IM3 and Mentari subscriber. Matrix MAX Package Launched on 22 April 2015, matrix MAX is a complete monthly package with large quota (internet, voice and SMS) and valid for 24 hours. Various packages are offered starting from IDR75 thousand with maximum benefit up to 15 GB internet, 1000 minutes voice, and 1000 SMS. Customers may also choose various booster packages starting from IDR5 thousand when they reach its data package quota. NETWORKS The Company operated 42,969 BTSs as of 30 June 2015, including 2G and 3G BTSs or added 9,056 BTSs compared to the previous year. To date, The Company operates more than 100 4G sites in Jakarta, Bandung, Yogyakarta, Bali and Balikpapan. Significant CAPEX investments focused on network modernization and data readiness, coverage, and capacity expansion to support ongoing growth. Key Indicators YoY 1H 2015 1H 2014 Additional Base Transceiver Stations (BTS) 2G 22,902 20,585 2,317 3G 20,067 13,328 6,739 Base Station Controllers (BSC) 428 410 18 Mobile Switching Centers (MSC) 54 56 (2) About Indosat Indosat is the leading telecommunication and information operator in Indonesia that provides cellular services, fixed line, data communications and internet (MIDI). In the first half of 2015, the Company has 68.5 million mobile subscribers through a variety of brands, among others; IM3, Mentari and Matrix. Indosat operates international direct dialing (IDD) through the access codes 001, 008 and Flatcall 01016. The company also offers corporate and SME solutions namely Indosat Business that supported by integrated telecommunications network throughout Indonesia as well as satellite services via satellite Palapa-C2 and Palapa-D. Indosat also has a very broad digital services program including a dedicated digital services unit (www.indosat.com/digital), Indonesia s first innovation competition IWIC (Indosat Wireless Innovation Contest) and Indonesia s leading startup incubator Ideabox (www.ideabox.co.id). Indosat is a subsidiary of the Ooredoo Group. Indosat's shares are listed on the Indonesia Stock Exchange (IDX: ISAT). 5

APPENDICES UNAUDITED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For The Six-Month Periods Ended 30 June 2015 and 2014 (Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollar) Description Periods Ended 30 June 2015 2014* IDR USD (1) IDR Growth (2) (%) REVENUES Cellular 10,223.6 766.8 9,365.3 9.2 Multimedia, Data Communication, Internet (Fixed Data) 1,835.3 137.7 1,705.8 7.6 Fixed Telecommunications 561.1 42.1 542.0 3.5 TOTAL REVENUES 12,620.0 946.6 11,613.1 8.7 EXPENSES Cost of Services (5,365.9) (402.5) (4,926.7) 8.9 Depreciation and Amortization (4,169.4) (312.7) (3,952.9) 5.5 Personnel (901.5) (67.6) (848.7) 6.2 General and Administration (503.9) (37.8) (438.9) 14.8 Marketing (486.3) (36.5) (372.0) 30.7 Loss on Foreign Exchange - net (91.2) (6.9) (118.8) (23.2) Amortization of Deferred Gain on Sale and Leaseback of 70.5 5.3 70.5 0.0 Towers Provision for Legal Case - - (1,358.6) (100.0) Gain on Sale of Available for Sale Investment - - 413.7 (100.0) Others - net (132.3) (9.9) (75.7) 74.9 NET EXPENSES (11,580.0) (868.6) (11,608.1) (0.2) OPERATING PROFIT 1,040.0 78.0 5.0 20,832.2 Gain (Loss) on Change in Fair Value of Derivatives - net 147.2 11.0 (178.7) (182.4) Interest Income 109.5 8.2 75.3 45.3 Financing Cost (1,283.9) (96.3) (1,232.9) 4.1 Gain (Loss) on Foreign Exchange - net (905.3) (67.9) 252.4 (458.7) OTHER EXPENSES - Net (1,932.5) (144.9) (1,083.9) 78.3 LOSS BEFORE INCOME TAX (892.5) (66.9) (1,078.9) (17.3) INCOME TAX BENEFIT - Net 226.0 16.9 17.0 1,229.7 LOSS FOR THE PERIOD (666.5) (50.0) (1,061.9) (37.2) PROFIT (LOSS) FOR THE PERIOD ATTRIBUTABLE TO : OWNERS OF THE PARENT (733.8) (55.0) (1,117.3) (34.3) NON-CONTROLLING INTERESTS 67.3 5.0 55.4 21.6 TOTAL (666.5) (50.0) (1,061.9) (37.2) 1) Translated into U.S. dollars using IDR13,332 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

UNAUDITED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of 30 June 2015 (Expressed in Billions of Indonesian Rupiah and Millions of US Dollar) Description 30 June 2015 31 December 2014* Growth (2) IDR USD (1) IDR (%) ASSETS Current Assets 14,528.3 1,089.7 8,591.0 69.1 Non-Current Assets 44,169.0 3,313.0 44,678.7 (1.1) TOTAL ASSETS 58,697.3 4,402.7 53,269.7 10.2 LIABILITIES Current Liabilities 22,083.1 1,656.4 21,147.8 4.4 Non-Current Liabilities 23,020.4 1,726.7 17,823.3 29.2 TOTAL LIABILITIES 45,103.5 3,383.1 38,971.1 15.7 TOTAL EQUITY 13,593.8 1,019.6 14,298.6 (4.9) TOTAL LIABILITIES & EQUITY 58,697.3 4,402.7 53,269.7 10.2 1) Translated into U.S. dollars using IDR13,332 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date 2) Percentage changes may vary due to rounding. UNAUDITED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS For The Six-Month Periods Ended 30 June 2015 and 2014 (Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollar) Description 2015 2014 IDR USD (1) IDR Net Cash Provided by Operating Activities 4,355.7 326.7 4,040.8 Net Cash Used in Investing Activities (2,778.1) (208.4) (1,846.1) Net Cash Provided by (Used in) Financing Activities 4,192.4 314.5 (2,148.8) Net Foreign Exchange Differences from Cash and Cash Equivalents 170.8 12.8 (60.5) Net Increase (Decrease) in Cash and Cash Equivalents 5,940.8 445.6 (14.6) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,480.0 261.0 2,233.5 CASH AND CASH EQUIVALENTS AT END OF PERIOD 9,420.8 706.6 2,218.9 1) Translated into U.S. dollars using IDR13,332 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date STATUS OF DEBT Facility Amount Maturity Interest Indosat IDR Bond (IDR Billion) Bond V 1,370 2017 Series B Fixed 10.65% p.a. Bond VII 600 2016 Series B Fixed 11.75% p.a. Bond VIII 2,700 2019 & 2022 Series A Fixed 8.625% p.a. and Series B Fixed 8.875% p.a. Shelf Registration Indosat Bond I Phase I Shelf Registration Indosat Bond I Phase II USD Bond (USD Million) 2,310 2,684 Guaranteed Notes -2020 650 Sharia Bond (IDR Billion) 2017, 2019, 2021 & 2024 2016, 2018, 2020, 2022 & 2025 2020 (First Call Option in 2015) Sukuk Ijarah IV 172 2016 Sukuk Ijarah V 300 2019 Shelf Registration Indosat Sukuk Ijarah I Phase I Shelf Registration Indosat Sukuk Ijarah I Phase II 190 416 2017, 2019 & 2021 2016, 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% Fixed 7.375% p.a. Fixed Ijarah Return amounting to IDR 5.05 for Series B payable on a quarterly basis Fixed Ijarah Return amounting to IDR 6.47 payable on a quarterly basis Fixed Ijarah Return amounting to IDR1.60, IDR0.412, and IDR2.89 for Series A, B and C payable on a quarterly basis Fixed Ijarah Return amounting to IDR1.18, IDR1.76, IDR1.68, IDR1.10 and IDR4.55 for Series A, B,C D and E payable on a quarterly basis 7

Facility Amount Maturity Interest IDR Loan (IDR Billion) RCF - BSMI 650 2015 Floating rate 3 month JIBOR + 1.25% p.a. RCF - BNI 275 2015 Floating rate 1 month JIBOR + 2.50% p.a. RCF - Mizuho 250 2015 Floating rate 3 month JIBOR + 1.50% p.a. BCA - Investment Credit 900 2018 Fixed 10.00% p.a. Facility Loans from 15.75 2017 Fixed 10.50% p.a. non-controlling interest of APE*** Loans from non-controlling interest 1.05 2016 Fixed 2.00% p.a. of LMD*** USD Loan (USD Million) HSBC France - Coface 70.73 2019 Fixed 5.69% p.a. HSBC France - Sinosure 19.89 2019 Floating Rate based on 6m US LIBOR + 0.35% p.a.* 9 Year Commercial Facility SEK Loan 80.00 2016 & 2017 6.08 2016 Floating Rate based on 6m US LIBOR + 1.45% p.a.** Floating Rate based on 6m US LIBOR + 2.87% p.a. over USD14.29; Fixed rate 4.26% p.a. over USD44.29; Fixed rate 4.24% p.a. over USD21.43 RCF - BTMU 50.00 2016 Floating Rate based on 6m US LIBOR + 1.20% p.a. RCF - Mizuho 60.00 2017 Floating Rate based on 1m US LIBOR + 0.90% p.a RCF - Citibank 40.00 2017 Floating Rate based on 1m US LIBOR + 1.35% p.a RCF - HSBC 140.00 2018 Floating Rate based on 1m US LIBOR + 1.68% p.a RCF - DBS 50.00 2017 Floating Rate based on 1m US LIBOR + 0.90% p.a * Swapped to Fixed Rate at 4.82% p.a. ** Swapped to Fixed Rate at 5.42% p.a. *** APE (PT Artajasa Pembayaran Elektronis) and LMD (PT Lintas Media Danawa) are indirect subsidiary of the Company through PT Aplikanusa Lintasarta ( Lintasarta ) DEBT MATURITIES WITHIN THE NEXT TWELVE MONTHS (FULL AMOUNTS) Maturity 3Q 2015 4Q 2015 1Q 2016 2Q 2016 Facility SEK Loan Tranche B Inst. HSBC France - Coface Inst. HSBC France - Sinosure Inst. Guaranteed Notes 2020 9 Year Commercial Inst. SEK Loan Tranche A Inst. SEK Loan Tranche C Inst. RCF - BSMI RCF - Mizuho BCA - Investment Credit Facility Loans from non-controlling interest of APE SEK Loan Tranche B Inst. HSBC France - Coface HSBC France - Sinosure Inst. Loans from non-controlling interest of APE 9 Year Commercial Inst. SEK Loan Tranche A Inst. SEK Loan Tranche C Inst. RCF BNI Indosat PUB1 - Tahap II Sukuk PUB1 - Tahap II Amount USD 11,071,429 7,859,335 2,210,000 650,000,000 2,027,775 7,142,857 4,285,714 11,071,429 7,859,335 2,210,000 2,027,775 7,142,857 4,285,714 IDR 650,000,000,000 250,000,000,000 100,000,000,000 3,150,000,000 3,150,000,000 275,000,000,000 554,000,000,000 55,000,000,000 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. 8