Investor Presentaiton

Our key drivers since 2014 Homes passed / Penetration(a) (k) 27.4% (IDRbn) 1,433 28.5% (k) +568 homes 2,000 2014 Revenue 2,136 2014 16.8% CAGR(e) 2017 RGUS Link Net 755 2014 +366 RGUs (IDRk/month) 1,121 ARPU(b) +IDR19k/month 11 2017 402 2014 421 2017 58.9% (IDRbn) 2,001 EBITDA & margins(c) (IDRbn) 57.6% 3,399 1,231 17.6% CAGR (e) 2017 2014 2017 243 2014 EBITDA less capex(d) 61.9% CAGR (e) 1,030 2017 a) b) c) Broadband penetration based on broadband subscribers divided by homes passed ARPU is calculated by dividing revenue generated during a period by the number of total RGUS at the end of such period, then dividing the quotient by the number of months in such period EBITDA is a non-GAAP financial measure of the Company's performance and should not be considered as an alternative to performance measures derived in accordance with IFAS. Other companies may calculate this non-GAAP measure differently which limits its usefulness as a comparative measure. EBITDA margin is defined as EBITDA divided by revenue d) EBITDA less cash capital expenditures (comprising purchases of property, plant and equipment for installation and purchase of intangible assets plus IDR140bn representing the one-time amount spent on acquisition of B2JS subsea cables in 2015) does not take into account the Company's mandatory debt service requirements or other non-discretionary expenditures and should not be relied on as a measure of the Company's residual cash flow available for discretionary expenditures. EBITDA less cash capital expenditure is a non-GAAP financial measure of the Company's liquidity, excludes components that are significant in understanding and assessing the Company's cash flows and should not be considered as an alternative to liquidity measures derived in accordance with IFAS. The Company's cash from operating activities was IDR1, 182.6bn, IDR1, 181.7bn, IDR1,560.7bn, IDR1,547.2 for 2014, 2015, 2016 and 2017. The Company's cash used in investing activities was IDR1,039.7bn, IDR1,127.6bn, IDR744.6bn, IDR970.6bn for 2014, 2015, 2016 and 2017. Other companies may calculate this non-GAAP measure differently which limits its usefulness as comparative measure 27

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