Investor memo

Tickers IDX : ISAT

Market Capitalization As of 30 June 2018 IDR17.28 trillion

Issued Shares 5,433,933,500

Share Price As of 30 June 2018 IDR3,180 Hi / Lo IDR6,100 / IDR3,140

Shareholder Structure As of 30 June 2018 Ooredoo Asia Pte. Ltd. 65.00% Republic of Indonesia 14.29% Free Float 20.71%

IDR to USD Conversion As of 30 June 2018 1 USD = IDR14,404

Corporate & Bond Ratings As of 30 June 2018 Fitch : Stable Outlook : 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 Fax: +62 21 30003757

E-mail: investor@indosatooredoo.com http://www.indosatooredoo.com

Please refer to the important disclaimer at the back of this

document

First Half 2018 9 August 2018

Cautiously optimistic and expect top-line growth to return in the second half of 2018 As expected, the new regulation requiring SIM card registrations that came into effect in 1Q 2018 and a change from a “push” to a “pull” GTM strategy continued to impact The Company’s performance with a 22% decrease in our customer base in 1H 2018. The top line was squeezed by this development, with revenue for the half year at IDR 11.1 trillion, down 26.8% compared to the same period last year. Consequently, EBITDA decreased by 47.5% to IDR 3.5 trillion in 1H 2018. Indosat Ooredoo made significant headway with its cost optimization initiatives. Total expenses decreased 18.1% during the first half of the year, compared to the same period last year. Indosat Ooredoo’s policy is to ensure strict compliance with market rules and regulations. The new SIM card regulation was implemented in a phased manner and completed by May 2018. Indosat Ooredoo sees long term opportunities in the new market environment with a more loyal customer base, with lower churn rates that will lead to higher margins in future. Indosat Ooredoo is cautiously optimistic and expect top-line growth to return in the second half of 2018. Indosat Ooredoo reduced its USD Debt by 59.5% from USD74.6 million (representing 5.2% of total debt) in 1H17 to become USD30.2 million (representing 2.3% of total debt) as whereby Indosat Ooredoo has successfully minimized the impact coming from foreign currency rate fluctuation in the bottom line.

2

FIRST HALF2018 OPERATING AND FINANCIAL RESULTS

PT Indosat Tbk (“Indosat Ooredoo” or the “Company”) has released its unaudited interim consolidated financial statements for the First Half 2018 (“1H 2018”). The unaudited 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 (in IDR billion)

YoY Quarterly

1H 2018 1H 2017 Growth % 2Q 2018 1Q 2018 Growth %

Revenues 11,065.8 15,112.4 (26.8) 5,373.4 5,692.4 (5.6)

• Cellular 8,645.4 12,579.1 (31.3) 4,228.1 4,417.3 (4.3)

• MIDI 2,009.7 2,057.9 (2.3) 966.9 1,042.8 (7.3)

• Fixed Telecom 410.7 475.4 (13.6) 178.4 232.3 (23.2)

Expenses (10,532.9) (12,860.6) (18.1) (4,766.4) (5,766.5) (17.3)

Operating Profit (Loss) 532.9 2,251.8 (76.3) 607.0 (74.1) 919.2

Other Expenses - Net (1,103.9) (1,037.2) 6.4 (591.2) (512.7) 15.3

(Loss) Profit for the Period Attributable to Owners of The Parent (693.7)

784.2 (188.5) (188.0) (505.7) 62.8

EBITDA* 3,502.7 6,673.9 (47.5) 1,560,3 1,942.4 (19.7)

EBITDA Margin 31.7% 44.2% (12.5 ppt) 29.0% 34.1% (5.1 ppt)

Unaudited Interim Consolidated Statement of Financial Position as of 30 June 2018 and Full Year 2017 (in IDR billion)

1H 2018 FY 2017 Change (%)

Total Assets 49,857.5 50,661.0 (1.6) Total Liabilities 36,261.8 35,845.5 1.2 Total Equity** 13,595.7 14,815.5 (8.2) Total Debt 19,253.6 19,501.0 (1.3) Obligation Under Finance Lease 3,229.8 3,134.8 3.0

Financial Ratios as of 30 June 2018 and 2017

Formula 1H 2018 1H 2017

EBITDA Margin EBITDA/Operating Revenue 31.7 44.2 Interest Coverage*** EBITDA/Interest Expense 5.91 7.81 Gross Debt to Equity Gross Debt /Total Equity 1.42 1.33 Debt to EBITDA Gross Debt / Total EBITDA 2.01 1.42 Net Debt to EBITDA (Debt - Cash & Cash Equivalent)/Total EBITDA 1.87 1.25

* EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-IFAS measure that management believes is a useful a

supplemental measure of cash generated 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 IFAS 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 IFAS. 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 periods ended June 30, 2018 and 2017.

UNAUDITED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Revenues of IDR11,065.8 billion were recorded for 1H 2018, a decrease of IDR4,046.6 billion or 26.8% compared

to 1H 2017. Indosat Ooredoo’s Cellular, MIDI, and Fixed Telecommunication businesses contributed 78%, 18%, and 4% respectively to the consolidated operating revenues for the period ended 30 June 2018.

Cellular Revenues decreased by 31.3% compared to 1H 2017, mainly attributable to decreases in voice, SMS, Data, VAS revenues and Interconnection revenues, partially offset by increase in tower leasing.

MIDI Revenues decreased by 2.3% compared to 1H 2017, mainly due to deconsolidation of APE, Indosat

Ooredoo’s subsidiary.

Fixed Telecommunication Revenues decreased by 13.6% compared to 1H 2017 due to lower incoming traffic.

Expenses of IDR10,532.9 billion were recorded for 1H 2018, a decrease of IDR2,327.7 billion or 18.1% lower over

the same period of previous year. This decrease is mainly contributed by General and Administration, Marketing expenses, Cost of Service and Depreciation and Amortization. Cost of Services: decreased by IDR493.3 billion or 8.0% lower compared to 1H 2017 primarily as a result of

decrease in interconnection, maintenance, cost of starter pack and voucher, USO, installation, delivery &

3

transportation, access fee & license, and utilities, slightly offset by increase in frequency fee, telecommunications devices and rent.

Depreciation and Amortization: decreased by IDR335.3 billion or 7.6% lower over 1H 2017, due to the

absence of further depreciation from fixed assets with zero net book value.

Personnel Expenses: decreased by IDR0.8 billion or 0.1% lower over 1H 2017 mainly due to lower headcount.

Marketing Expenses: decreased by IDR118.6 billion or 20.0% lower over 1H 2017, mainly due to lower

marketing activities related to transformation in marketing strategy and the impact or early adoption of PSAK 72.

General and Administration expenses: decreased by IDR262.8 billion or 54.8% lower over 1H 2017 mainly owing to lower provision for impairment of trade receivables, lower professional fee, lower brand license fee and lower transportation.

Other Expense - net: Indosat recorded expense of IDR1,103.9 billion, increased by IDR66.7 billion or 6.4% higher

over expense recorded in 1H 2017 driven primarily by loss on foreign exchange and lower interest income, offset by gain on change in fair value of derivative - net and lower finance cost.

(Loss) Gain on Foreign Exchange - net: Indosat recorded a net foreign exchange loss in 1H 2018 of IDR114.2 billion compared to a net foreign exchange gain of IDR42.5 billion in 1H 2017 as a result of higher USD/IDR exchange rate in 1H 2018 compared to 1H 2017 tuned down by lower debt balance in USD denomination.

Finance Costs: decreased by IDR33.1 billion or 3.1% lower over 1H 2017 as a result of lower interest rate.

Interest Income: decreased by IDR10.6 billion or 33.9% lower over 1H 2017 as a result of lower time

deposits account balance in respective period.

Gain (Loss) on Change in Fair Value of Derivatives - net: Indosat recorded gain of IDR29.4 billion,

increased by IDR67.4 billion over loss recorded in 1H 2017 mainly as the impact of depreciation IDR currency movement during 1H 2018.

(Loss) Profit for the Period Attributable to Owners of the Parent: Indosat recorded net loss of IDR693.7

billion, decreased by 188.5% over net profit recorded in 1H 2017 caused primarily by pressured performance of operating revenue.

UNAUDITED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Key Indicators (in IDR billion) 1H 2018 FY 2017 Growth %

Total Assets 49,857.5 50,661.0 (1.6) Total Liabilities 36,261.8 35,845.5 1.2 Total Equity 13,595.7 14,815.5 (8.2)

Current assets decreased by 11.4% to IDR8,400.1 billion, mainly resulting from lower cash and cash equivalent, lower prepaid expense and lower other current asset.

Non-current assets increased by 0.7% to IDR41,457.4 billion, mainly resulting from higher investment value in associated company.

Current liabilities increased 8.8% to IDR17,632.0 billion mainly due to higher short term loan, higher unearned revenue, higher deposits from customer and higher current maturities of loans and bonds.

Non-current liabilities decreased by 5.2% to IDR18,629.8 billion mainly due to lower long-term debt payable in the period.

Cash Flow and Capital Expenditure

Key Indicators (in IDR billion) 1H 2018 1H 2017 Growth %

Net Cash Provided by Operating Activities 3,031.4 5,350.1 (43.3) Net Cash Used in Investing Activities (2,439.8) (2,834.6) (13.9) Net Cash Used in Financing Activities (979.3) (1,960.1) (50.0) Net Foreign Exchange Differences from Cash and Cash Equivalents 31.5 (0.7) 4,600.0 Net (Decrease) Increase in Cash and Cash Equivalents (607.8) 554.7 (164.2)

CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 1,674.7 1,850.4 (9.5)

CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 1,318.5 2,405.1 (45.2)

Net Cash Provided by Operating Activities decreased by 43.3% mainly due to lower cash received from customers.

Net Cash Used in Investing Activities decreased by 13.9% mainly due to lower payments for acquisition of fixed asset.

4

Net Cash Used in Financing Activities decreased by 50.0% mainly due to lower proceeds from long term loans.

Net Foreign Exchange Differences from Cash and Cash Equivalents increased by 4,600.0% due to higher exchange rate of IDR on Cash and Cash Equivalents.

Net Decrease in Cash and Cash Equivalents by 164.2% mainly due to lower proceeds from customer and higher repayment of bonds and sukuk.

CAPEX in 1H 2018 amounted to IDR2,672.0 billion, increased 57.1% over 1H 2017. Approximately 84.9% of the capex was allocated to cellular, mainly to support data services demand and the remaining balance was allocated to MIDI, infrastructure and IT Capex. STATUS OF DEBT

As of 30 June 2018, the Company’s total debt increased by 0.3% compared to 30 June 2017. Debt repayments during the period were for SEK Loan Tranche C last installments of USD4.3 million, HSBC Coface and Sinosure installments of USD20.1 million, RCF HSBC Facility of USD20.0 million, Shelf Registration Indosat Bonds I Phase I in Series A settlement of IDR950.0 billion, Shelf Registration Indosat Sukuk Ijarah I Phase I Series A settlement of ID64.0 billion, Shelf Registration Indosat Bonds I Phase II in Series B settlement of IDR782.0 billion, Shelf Registration Indosat Sukuk Ijarah I Phase II Series B settlement of ID76.0 billion, Shelf Registration Indosat Bonds I Phase IV in Series A settlement of IDR1,075.0 billion, Shelf Registration Indosat Sukuk Ijarah I Phase IV Series A settlement of ID163.0 billion, Shelf Registration Indosat Bonds II Phase I in Series A settlement of IDR844.0 billion, Shelf Registration Indosat Sukuk Ijarah II Phase I Series A settlement of ID17.0 billion, BCA Investment credit facility of IDR150.0 billion, RCF BCA of IDR415.6 billion, RCF BNPP of IDR350.0 billion,RCF BSMI of IDR550.0 billion, RCF Citibank of IDR530.0 billion and settlement of non-controlling interest of APE of IDR15.75 billion. Debt issuance during the period were RCF CIMB Niaga of IDR250.0 billion, RCF Permata of IDR200.0 billion, Shelf Registration Indosat Bond II Phase II issuance of IDR2,720.0 trillion, Shelf Registration Indosat Sukuk Ijarah II Phase II issuance of IDR700.0 billion and Shelf Registration Indosat Bond II Phase III issuance of IDR2,719.0 trillion. Total outstanding debt: As at 30 June 2018, the Company had total outstanding gross debts (excluding

unamortized transaction costs and obligation under finance lease) of IDR19,289.6 billion. The Company has foreign exchange forward contracts amounting to USD29.5 million. The Company’s cash position as at 30 June 2018 stood at IDR1,318.5 billion and net debt is at IDR17,971.1 billion. The composition of the Company’s gross debt, excluding obligation under finance lease, is as follows:

Debt Proportion (Principal amount) 1H 2018 1H 2017 Growth %

IDR Loans (billion) 1,334.5 2,881.0 (53.7) USD Loans (million) 30.2 74.6 (59.5) IDR Bonds (billion) 17,519.0 15,351.0 14.1

Total maturing debt: in the next twelve months, the Company has debts of IDR5.1 trillion and USD20.1 million

coming to maturity. The average tenor of debt is 3.71 years as at 30 June 2018.

OPERATIONAL RESULTS Cellular

Key Indicators YoY Quarterly

1H 2018 1H 2017 Growth % 2Q 2018 1Q 2018 Growth %

Customers - Postpaid (million) 1.5 1.1 35.3 1.5 1.4 4.9 Customers - Prepaid (million) 73.8 95.3 (22.5) 73.8 94.8 (22.1) Customers - Total (million) 75.3 96.4 (21.9) 75.3 96.2 (21.7) ARPU (Postpaid) (IDR thousand) 97.0 126.1 (23.1) 96.1 99.0 (2.9) ARPU (Prepaid) (IDR thousand) 13.1 21.3 (38.5) 14.5 11.4 27.2 ARPU (Blended) (IDR thousand) 14.3 22.5 (36.4) 15.9 12.4 28.0 MoU 32.2 53.1 (39.3) 35.5 29.4 20.6 ARPM 152.4 130.5 16.8 155.4 149.8 3.8

The Company ended 1H 2018 with a cellular customer base of 75.3 million, a decrease of 21.9% or 21.1 million customers over 1H 2017. This lower cellular customer base was impacted by shifting business model from push marketing strategy to customer’s demand driven Go-To-Market Strategy. 4G experience and coverage improving but are still behind competition - hampering gross adds generation capabilities.

5

Average Revenue Per User (ARPU) for cellular customers in 1H 2018 stood at IDR14.3 thousand or IDR8.2 thousand lower compared to 1H 2017 due to growing number of data early adopter coming from Yellow package and growing market share in ex-Java. Average Minutes of Usage (MOU) per customer decreased to 32.2 minutes, a 39.3% decrease compared to 1H 2017 in line with the downtrend of traditional voice service as per industry trend. Average Revenue Per Minute (ARPM) increased to IDR152.4 representing an increase of 16.8% compared to 1H 2017 mainly due to voice smart pricing initiative in certain areas. MIDI

Key Indicators Unit 1H 2018 1H 2017 Growth %

Indosat (Fixed Internet)

International IP Transit (International IPT) Mbps 63,191 58,455 8.1 Dedicated Internet (IDIA) Mbps 6,624 11,517 (42.5) Dedicated Internet (IDIA) - Flexi Mbps 5,486 3,981 37.8 Domestic IP Transit (Domestic IPT) Mbps 20,850 22,600 (7.7)

Indosat (Fixed Connectivity)

International Leased Circuit (IWL) Mbps 52,548 16,174 224.9 Domestic Leased Circuit (INL) Mbps 55,186 27,878 98.0 Domestic Ethernet Link (MPLS) Mbps 437,383 317,198 37.9 International Ethernet Link (MPLS) Mbps 76,320 33,902 125.1 Domestic IPVPN Link (IPVPN Link) Mbps 65,081 13,101 396.8 International IPVPN Link (IPVPN Link) Mbps 303 505 (40.1)

Lintasarta

High Speed Leased Line 64Kbps 3,232,445 1,563,799 106.7 Frame Relay 64Kbps 5,440 6,443 (15.6) VSAT 64Kbps 15,049 14,086 6.8 IPVPN 64Kbps 310,000 282,423 9.8

IM2

Internet Dial Up User 3,285 3,312 (0.8) Internet Dedicated Link 821 899 (8.7) IPVPN Link 278 244 13.9

In 1H 2018, MIDI production showed increase mainly in Fixed Connectivity. This increase mainly supported by leased circuit and IPVPN. From customer side, this increase was dominated by wholesale customers and followed by enterprise customers. MARKETING ACTIVITIES

Unlimited +5GB

Launched on 3 May 2018, IM3 Unlimited is now available with additional Unlimited +5GB package. Unlimited package is a latest Indosat Ooredoo internet package offering easily fast internet access with 24 hours validity quota and unlimited access to favorite applications and streaming. Unlimited voice and SMS are also parts of benefits in this packages (valid in certain packages).

Freedom Internet Package

Launched on 5 June 2018, this newest package from Indosat Ooredoo offers fast internet access in Indosat Ooredoo network with 24 hours validity quota. Subscriber will also get 4G quota and accumulated remaining main quota through Data Rollover. Starting from IDR15k for 1GB package (with total 4GB quota), subcriber can easily register from MyIM3 application or through UMB access and SMS. This package is available with various option from IDR15k for 1GB to IDR95k for 20GB.

6

World Cup Campaign “PESTA BOLA DUNIA”

“Pesta Bola Dunia” is a special program from Indosat Ooredoo in welcoming World Cup Russia 2018 (FIFA World Cup) valid from 12 June until 15 July 2018. This program is a value added services or content service where Indosat Ooredoo collaborates with partners to offer various programs, benefits or services for subscribed customer during the program. Services offered to customer in this program namely : Watching live World Cup Russia 2018 from mobile devices (Smartphone/Tab/Laptop/) anytime and anywhere via website KLIXTV.com; Unlimited watching channel FIFA TV in Youtube contains highlights, exclusive interview, memorable match, classic games, legend players, etc; Playing Games Real Football 2019 from Gameloft; Unlimited Streaming for listening playlist or World Cup theme songs via Spotify and Joox; and unlimited watching football theme movies in iFlix.

NETWORKS

The Company operated 66,373 BTSs as of 30 June 2018, adding 7,350 BTSs compared to the same period in previous year. To date, The Company operates 10,066 sites for 4G network in 239 main cities in Indonesia.

Key Indicators YoY

1H 2018 1H 2017 Additional

Base Transceiver Stations (BTS) 2G 24,427 24,235 192

3G 31,880 29,255 2,625

4G 10,066 5,533 4,533 Base Station Controllers (BSC) 361 353 8

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. Indosat Ooredoo was recognised in the Most Innovative Company of the Year category in the 2015 Asia Pacific Stevie Awards.

7

APPENDICES

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For Six-Month Periods Ended 30 June 2018 and 2017

(Expressed in Billions of Rupiah and Millions of U.S. Dollar)

Description 2018 2017 Growth (2) (%) IDR USD (1) IDR

REVENUES

Cellular 8,645.4 600.2 12,579.1 (31.3)

Multimedia, Data Communication, Internet (MIDI) 2,009.7 139.5 2,057.9 (2.3) Fixed Telecommunications 410.7 28.5 475.4 (13.6) TOTAL REVENUES 11,065.8 768.2 15,112.4 (26.8)

(EXPENSES) INCOME Cost of Services (5,709.6) (396.4) (6,202.9) (8.0) Depreciation and Amortization (4,097.2) (284.4) (4,432.5) (7.6) Personnel (1,161.6) (80.6) (1,162.4) (0.1) Marketing (474.8) (33.0) (593.4) (20.0) General and Administration (217.0) (15.1) (479.8) (54.8) Gain Associated with the Loss of Control of a Subsidiary 924.9 64.2 - 100.0 Amortization of Deferred Gain on Sale and Leaseback of

Towers 70.5 4.9 70.5 0.0 Gain on Foreign Exchange - net 2.3 0.2 0.7 228.6 Others - net 129.6 9.0 (60.8) 313.2 TOTAL EXPENSES (10,532.9) (731.2) (12,860.6) (18.1)

OPERATING PROFIT 532.9 37.0 2,251.8 (76.3)

Gain (Loss) on Change in Fair Value of Derivatives - net 29.4 2.0 (38.0) (177.4) Interest Income 20.7 1.4 31.2 (33.9) Financing Cost (1,039.8) (72.2) (1,072.9) (3.1) (Loss) Gain on Foreign Exchange - net (114.2) (7.9) 42.5 (368.7)

OTHER EXPENSES - Net (1,103.9) (76.7) (1,037.2) 6.4

(LOSS) PROFIT BEFORE INCOME TAX (571.0) (39.7) 1,214.6 (147.0)

INCOME TAX BENEFIT (EXPENSE) 135.1 9.4 (345.3) (139.1)

(LOSS) PROFIT FOR THE PERIOD (435.9) (30.3) 869.3 (150.1)

(LOSS) PROFIT FOR THE PERIOD ATTRIBUTABLE TO :

OWNERS OF THE PARENT (693.7) (48.2) 784.2 (188.5)

NON-CONTROLLING INTERESTS 257.8 17.9 85.1 202.9

TOTAL (435.9) (30.3) 869.3 (150.1)

1) Translated into U.S. dollars using IDR14,404 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date 2) Percentage changes may vary due to rounding.

8

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

As of 30 June 2018 and 31 December 2017

(Expressed in Billions of Rupiah and Millions of U.S. Dollar)

Description 2018 2017 Growth (2)

(%) IDR USD (1) IDR

ASSETS Current Assets 8,400.1 583.2 9,479.2 (11.4) Non-Current Assets 41,457.4 2,878.1 41,181.8 0.7

TOTAL ASSETS 49,857.5 3,461.3 50,661.0 (1.6)

LIABILITIES

Current Liabilities 17,632.0 1,224.1 16,200.5 8.8 Non-Current Liabilities 18,629.8 1,293.3 19,645.0 (5.2)

TOTAL LIABILITIES 36,261.8 2,517.4 35,845.5 1.2

TOTAL EQUITY 13,595.7 943.9 14,815.5 (8.2)

TOTAL LIABILITIES & EQUITY 49,857.5 3,461.3 50,661.0 (1.6)

1) Translated into U.S. dollars using IDR14,404 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 STATEMENTS OF CASH FLOWS For Six-Month Periods Ended 30 June 2018 and 2017

(Expressed in Billions of Rupiah and Millions of U.S. Dollar)

Description 2018 2017

IDR USD (1) IDR

Net Cash Provided by Operating Activities 3,031.4 210.5 5,350.1 Net Cash Used in Investing Activities (2,439.8) (169.4) (2,834.6) Net Cash Used in Financing Activities (979.3) (68.0) (1,960.1)

Net Foreign Exchange Differences from Cash and Cash Equivalents 31.5 2.2 (0.7)

Net (Decrease) Increase in Cash and Cash Equivalents (356.2) (24.7) 554.7

CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 1,674.7 116.2 1,850.4

CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 1,318.5 91.5 2,405.1

1) Translated into U.S. dollars using IDR14,404 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date

9

STATUS OF DEBT

Facility Amount Maturity Interest

IDR Bond (IDR Billion)

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

1,360 2019, 2021 &

2024 Series B Fixed 10.30% p.a., Series C Fixed 10.50% p.a. and Series D Fixed 10.70% p.a.

Shelf Registration Indosat Bond I Phase II

1,348 2020, 2022 &

2025 Series C Fixed 10.00% p.a, Series D Fixed 10.25% p.a and Series E Fixed 10.40%

Shelf Registration Indosat Bond I Phase III

794 2018, 2020, 2022 & 2025

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

Shelf Registration Indosat Bond I Phase IV

2,097 2019, 2021, 2023 & 2026

Series B Fixed 8.00% p.a, Series C Fixed 8.60% p.a, Series D Fixed 9.00% p.a and Series E Fixed 9.15% p.a

Shelf Registration Indosat Bond II Phase I

1,856 2020, 2022, 2024 & 2027

Series B Fixed 8.15% p.a, Series C Fixed 8.55% p.a, Series D Fixed 8.90%, and Series E Fixed 9.25% p.a

Shelf Registration Indosat Bond II Phase II

2,720 2018, 2020,

2022, 2024 & 2027

Series A Fixed 6.15% p.a, Series B Fixed 7.45% p.a, Series C Fixed 7.65% p.a, Series D Fixed 7.95% p.a and Series E Fixed 8.65% p.a

Shelf Registration Indosat Bond II Phase III

2,719 2019, 2021,

2023, 2025 & 2028

Series A Fixed 6.05% p.a, Series B Fixed 7.40% p.a, Series C Fixed 7.65% p.a, Series D Fixed 8.20% p.a and Series E Fixed 8.70% p.a

Sharia Bond (IDR Billion)

Sukuk Ijarah V 300 2019 Fixed Ijarah Return amounting to IDR 6.47 payable on a quarterly basis

Shelf Registration Indosat Sukuk Ijarah I Phase I

126 2019 & 2021 Fixed Ijarah Return amounting to IDR0.41, and IDR2.89 for Series B and C payable on a quarterly basis

Shelf Registration Indosat Sukuk Ijarah I Phase II

285 2020, 2022 &

2025 Fixed Ijarah Return amounting to IDR1.68, IDR1.10 and IDR4.55 for Series C D and E payable on a quarterly basis

Shelf Registration Indosat Sukuk Ijarah I Phase III

106 2022 & 2025 Fixed Ijarah Return amounting to IDR1.72 and IDR1.15 for Series A and B payable on a quarterly basis

Shelf Registration Indosat Sukuk Ijarah I Phase IV

125 2019, 2021 &

2026 Fixed Ijarah Return amounting to IDR1.22, IDR0.22 and IDR1.24 for Series B, C and D payable on a quarterly basis

Shelf Registration Indosat Sukuk Ijarah II Phase I

283 2022, 2024 &

2027 Fixed Ijarah Return amounting to IDR3.42, IDR1.34 and IDR1.46 for Series B, C and D payable on a quarterly basis

Shelf Registration Indosat Sukuk Ijarah II Phase II

700 2018, 2020,

2022, 2024 & 2027

Fixed Ijarah Return amounting to IDR3.38, IDR4.84, IDR0.27, IDR0.26 and IDR4.17 for Series A, B, C , D and E payable on a quarterly basis

IDR Loan (IDR Billion)

RCF - BCA 184 2018 & 2020 Floating rate 1 month JIBOR + 1.25% p.a. BCA - Investment Credit Facility

500

2018

Fixed 8.00% p.a.

Term Loan - IIF 200 2024 Fixed 8.95% p.a. RCF Permata RCF - CIMB Niaga Loans from non-controlling interest of LMD**

200 250

1.05

2019 2019

2020

Floating rate 1 month JIBOR + 1.25% p.a. Floating rate 1 month JIBOR + 1.25% p.a. Fixed 2.00% p.a.

USD Loan (USD Million)

HSBC France - Coface 23.6 2019 Fixed 5.69% p.a. HSBC France - Sinosure 6.63 2019 Floating Rate based on 6m US LIBOR + 0.35% p.a.*

* Swapped to Fixed Rate at 4.82% p.a. ** LMD (PT Lintas Media Danawa) are indirect subsidiary of the Company through PT Aplikanusa Lintasarta (“Lintasarta”)

10

DEBT MATURITIES WITHIN THE NEXT TWELVE MONTHS (FULL AMOUNTS)

Maturity Facility Amount

USD IDR

3Q 2018

HSBC France - Coface Inst. HSBC France - Sinosure Inst

7,859,335 2,210,000

4Q 2018

Shelf Registration Indosat Bond II Phase II - Series A Shelf Registration Indosat Sukuk Ijarah II Phase II - Series A Shelf Registration Indosat Bond I Phase III - Series A Investment Credit BCA

1,017,000,000,000 220,000,000,000 201,000,000,000 500,000,000,000

1Q 2019

RCF Permata HSBC France - Coface Inst. HSBC France - Sinosure Inst

7,859,335 2,210,000

200,000,000,000

2Q 2019

Shelf Registration Indosat Bond II Phase III RCF CIMB Niaga Indosat VIII Series A Syariah Ijarah V

1,209,000,000,000 250,000,000,000

1,200,000,000,000 300,000,000,000

Disclaimer

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 Ooredoo'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 Ooredoo, or indicated by any such forward looking statements, will be achieved.

The financial information provided herein is based on Indosat Ooredoo’s consolidated financial statements in accordance with Indonesian Financial Accounting Standards.