Investor memo

Tickers IDX : ISAT

Market Capitalization As of 30 September 2018 IDR16.57 trillion

Issued Shares 5,433,933,500

Share Price As of 30 September 2018 IDR3,050 Hi / Lo IDR6,100 / IDR2,940

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

IDR to USD Conversion As of 30 September 2018 1 USD = IDR14,929

Corporate & Bond Ratings As of 30 September 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 30442292 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

Nine Months 2018 27 November 2018

Growth reignited, ex-Java expansion on schedule Indosat Ooredoo initiated the price increase during 2Q 2018, followed by other players, which led to a better market environment and has resulted in a better results in this quarter. Revenue growth has been reignited on Indosat Ooredoo, increased by 6.2% QoQ, mostly contributed from Data Revenue which increased 10.0% QoQ. Improvement in this quarter is also showing that impact from the SIM card registration has started to ease off. EBITDA margin is stable at 28.8% on 3Q 2018 and CAPEX in 3Q 2018 is recorded at IDR 2.2Tn, a 61.7% growth compared to 2Q 2018. Our customer base in 9M18 stood at 64.1mn or 33.9% lower compared with same period of the previous year. On subscriber base there are still spill over from the sim-card registration impact on our 3Q however we are happy to report that churn has decreased significantly to 14.8% QoQ. We maintain a cautiously optimistic view and continue to see long term opportunities in the new market environment with a more loyal customer base and lower churn rates that will lead to higher margins in future. Network expansion outside of Java is on schedule, with 4G rollout completed in three out of the five provinces. As of 9M18, Indosat Ooredoo added 6,755 BTS with 81.8% 4G BTS compared with the same period in previous year. The Company now operates 11,636 4G BTS in 276 cities and cover 60% of population. Indosat Ooredoo continues to execute its cost optimization initiatives. Total expenses decreased 14.0% during 9M 2018 period, compared to the same period last year. Indosat Ooredoo reduced its USD Debt by 54.8% from USD44.6 million (representing 3.4% of total debt) in 9M 2017 to become USD20.1 million (representing 1.4% of total debt) in 9M 2018 as whereby Indosat Ooredoo has successfully minimized the impact coming from foreign currency rate fluctuation in the bottom line.

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NINE MONTHS 2018 OPERATING AND FINANCIAL RESULTS

PT Indosat Tbk (“Indosat Ooredoo” or the “Company”) has released its audited interim consolidated financial statements for the Nine Months 2018 (“9M 2018”). The audited consolidated financial statements have been prepared in accordance with Indonesian Financial Accounting Standards (IFAS).

Audited Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

Key Indicators (in IDR billion)

YoY Quarterly

9M 2018 9M 2017 Growth % 3Q 2018 2Q 2018 Growth %

Revenues 16,769.8 22,565.8 (25.7) 5,704.0 5,373.4 6.2

• Cellular 13,175.8 18,730.6 (29.7) 4,530.4 4,228.1 7.1

• MIDI 3,025.4 3,142.8 (3.7) 1,015.7 966.9 5.0

• Fixed Telecom 568.6 692.4 (17.9) 157.9 178.4 (11.4)

Expenses (16,586.5) (19,291.4) (14.0) (6,053.6) (4,766.4) 27.0

Operating Profit (Loss) 183.3 3,274.4 (94.4) (349.6) 607.0 (157.6)

Other Expenses - Net (1,673.6) (1,560.9) 7.2 (569.7) (591.2) (3.7)

(Loss) Profit for the Period Attributable to Owners of The Parent (1,539.0) 1,090.3 (241.2) (845.3) (188.0) 349.6

EBITDA* 5,144.8 9,906.3 (48.1) 1,642.1 1,560,3 5.2

EBITDA Margin 30.7% 43.9% (13.2 ppt) 28.8% 29.0% (0.2 ppt)

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

9M 2018 FY 2017 Change (%)

Total Assets 51,627.8 50,661.0 1.9 Total Liabilities 38,637.4 35,845.5 7.8 Total Equity** 12,990.4 14,815.5 (12.3) Total Debt 20,899.0 19,501.0 7.2 Obligation Under Finance Lease 3,462.7 3,134.8 10.5

Financial Ratios as of 30 September 2018 and 2017

Formula 9M 2018 9M 2017

EBITDA Margin EBITDA/Operating Revenue 30.7 43.9 Interest Coverage*** EBITDA/Interest Expense 4.91 8.00 Gross Debt to Equity Gross Debt /Total Equity 1.61 1.39 Debt to EBITDA Gross Debt / Total EBITDA 2.62 1.55 Net Debt to EBITDA (Debt - Cash & Cash Equivalent)/Total EBITDA 2.44 1.43

* 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 September 30, 2018 and 2017.

AUDITED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Revenues of IDR16,769.8 billion were recorded for 9M 2018, a decrease of IDR5,796.0 billion or 25.7% decrease

compared to 9M 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 September 2018.

Cellular Revenues decreased by 29.7% compared to 9M 2017, mainly attributable to decreases in voice, SMS, Data, and VAS revenues, partially offset by increase in tower leasing and Interconnection revenues.

MIDI Revenues decreased by 3.7% compared to 9M 2017, mainly due to deconsolidation of APE, Indosat

Ooredoo’s subsidiary.

Fixed Telecommunication Revenues decreased by 17.9% compared to 9M 2017 due to lower incoming traffic.

Expenses of IDR16,586.5 billion were recorded for 9M 2018, a decrease of IDR2,704.9 billion or 14.0% lower

over the same period of previous year. This decrease is mainly contributed by General and Administration, Marketing expenses and Depreciation and Amortization. Cost of Services: decreased by IDR576.8 billion or 6.2% lower compared to 9M 2017 primarily as a result

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

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

Depreciation and Amortization: decreased by IDR511.9 billion or 7.7% lower over 9B 2017, due to the

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

Personnel Expenses: decreased by IDR52.7 billion or 3.0% lower over 9B 2017 mainly due to lower headcount.

Marketing Expenses: decreased by IDR219.9 billion or 23.4% lower over 9M 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 IDR185.1 billion or 25.8% lower over 9M 2017 mainly owing to lower rent, lower professional fee, lower brand license fee and lower transportation offset by higher provision for impairment of trade receivables.

Other Expense - net: Indosat recorded expense of IDR1,673.6 billion, increased by IDR112.7 billion or 7.2%

higher over expense recorded in 9M 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 9M 2018 of IDR188.3 billion compared to a net foreign exchange gain of IDR12.8 billion in 9M 2017 as a result of higher USD/IDR exchange rate in 9M 2018 compared to 9M 2017 tuned down by lower debt balance in USD denomination.

Finance Costs: decreased by IDR22.5 billion or 1.4% lower over 9M 2017 as a result of lower interest rate.

Interest Income: decreased by IDR11.6 billion or 28.1% lower over 9M 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 IDR41.3 billion,

increased by IDR77.5 billion over loss recorded in 9M 2017 mainly as the impact of depreciation IDR currency movement during 9M 2018.

(Loss) Profit for the Period Attributable to Owners of the Parent: Indosat recorded net loss of IDR1,539.0

billion, decreased by 241.2% over net profit recorded in 9M 2017 caused primarily by pressured performance of operating revenue.

AUDITED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Key Indicators (in IDR billion) 9M 2018 FY 2017 Growth %

Total Assets 51,627.8 50,661.0 1.9 Total Liabilities 38,637.4 35,845.5 7.8 Total Equity 12,990.4 14,815.5 (12.3)

Current assets increased by 3.7% to IDR9,830.2 billion, mainly resulting from higher prepaid expense and higher prepaid tax.

Non-current assets increased by 1.5% to IDR41,797.6 billion, mainly resulting from higher investment value in associated company.

Current liabilities increased 23.4% to IDR19,990.1 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 5.1% to IDR18,647.3 billion mainly due to lower long-term debt payable in the period.

Cash Flow and Capital Expenditure

Key Indicators (in IDR billion) 9M 2018 9M 2017 Growth %

Net Cash Provided by Operating Activities 2,910.8 7,763.9 (62.5) Net Cash Used in Investing Activities (3,910.7) (4,240.9) (7.8) Net Cash Provided by (Used in) Financing Activities 415.3 (3,721.6) 111.2 Net Foreign Exchange Differences from Cash and Cash Equivalents 38.1 2.4 1,461.1 Net Decrease in Cash and Cash Equivalents (546.5) (196.2) 178.5

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 1,128.2 1,654.2 (31.8)

Net Cash Provided by Operating Activities decreased by 62.5% mainly due to lower cash received from customer.

Net Cash Used in Investing Activities decreased by 7.8% mainly due to lower payments for acquisition of fixed asset.

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Net Cash Provided by Financing Activities increased by 111.2% mainly due to lower payments for long term loans.

Net Foreign Exchange Differences from Cash and Cash Equivalents increased by 1,461.1% due to higher exchange rate of IDR on Cash and Cash Equivalents.

Net Decrease in Cash and Cash Equivalents by 178.5% mainly due to lower proceeds from customer. CAPEX in 9M 2018 amounted to IDR4,855.2 billion, increased 95.3% over 9B 2017. Approximately 88.1% 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 September 2018, the Company’s total debt increased by 18.7% compared to 30 September 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, 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 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 IDR20.0 billion, RCF BSMI of IDR400.0 billion and settlement of loans from non-controlling interest of APE of IDR15.75 billion. Debt issuance during the year were RCF Citibank of IDR50.0 billion RCF CIMB Niaga of IDR500.0 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 September 2018, the Company had total outstanding gross debts (excluding

unamortized transaction costs and obligation under finance lease) of IDR20,930.7 billion. The Company has foreign exchange forward contracts amounting to USD29.0 million. The Company’s cash position as at 30 September 2018 stood at IDR1,128.2 billion and net debt is at IDR19,802.5 billion. The composition of the Company’s gross debt, excluding obligation under finance lease, is as follows:

Debt Proportion (Principal amount) 9M 2018 9M 2017 Growth %

IDR Loans (billion) 3,111.0 2,931.0 6.1 USD Loans (million) 20.1 44.6 (54.8) IDR Bonds (billion) 17,519.0 14,113.0 24.1

Total maturing debt: in the next twelve months, the Company has debts of IDR6.8 trillion and USD20.1 million

coming to maturity. The average tenor of debt is 3.36 years as at 30 September 2018.

OPERATIONAL RESULTS Cellular

Key Indicators YoY Quarterly

9M 2018 9M 2017 Growth % 3Q 2018 2Q 2018 Growth %

Customers - Postpaid (million) 1.5 1.2 28.7 1.5 1.5 4.4 Customers - Prepaid (million) 62.6 95.8 (34.6) 62.6 73.8 (15.2) Customers - Total (million) 64.1 97.0 (33.9) 64.1 75.3 (14.8) ARPU (Postpaid) (IDR thousand) 95.3 133.2 (28.4) 92.0 96.1 (4.3) ARPU (Prepaid) (IDR thousand) 15.4 19.9 (22.4) 20.0 14.5 38.0 ARPU (Blended) (IDR thousand) 16.8 21.2 (20.9) 21.6 15.9 35.8 MoU 34.9 50.9 (31.4) 40.3 35.5 15.0 ARPM 155 135 15.1 162 155 3.9 Data Traffic (TB) 1,307,813 749,679 74.4 490,476 449,105 9.2 SMS Traffic (mn) 25.0 92.6 (73.0) 6.9 8.0 (13.8)

The Company ended 9M 2018 with a cellular customer base of 64.1 million, a decrease of 33.9% or 32.9 million customers over 9M 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. Average Revenue Per User (ARPU) for cellular customers in 9M 2018 stood at IDR16.8 thousand or IDR4.4 thousand lower compared to 9M 2017 due to growing number of data early adopter coming from Yellow package and growing market share in ex-Java.

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Average Minutes of Usage (MOU) per customer decreased to 34.9 minutes, a 31.4% decrease compared to 9M 2017 in line with the downtrend of traditional voice service as per industry trend. Average Revenue Per Minute (ARPM) increased to IDR155 representing an increase of 15.1% compared to 9M 2017 mainly due to voice smart pricing initiative in certain areas. MIDI

Key Indicators Unit 9M 2018 9M 2017 Growth %

Indosat (Fixed Internet)

International IP Transit (International IPT) Mbps 95,479 62,062 53.8 Dedicated Internet (IDIA) Mbps 27,225 13,004 109.4 Dedicated Internet (IDIA) - Flexi Mbps 6,834 1,583 331.7 Domestic IP Transit (Domestic IPT) Mbps 38,714 25,945 49.2

Indosat (Fixed Connectivity)

International Leased Circuit (IWL) Mbps 9,198 16,174 (43.1)

Domestic Leased Circuit (INL) Mbps 54,182 27,696 95.6

Domestic Ethernet Link (MPLS) Mbps 354,238 327,210 8.3

International Ethernet Link (MPLS) Mbps 34,585 26,017 32.9

Domestic IPVPN Link (IPVPN Link) Mbps 17,918 13,835 29.5

International IPVPN Link (IPVPN Link) Mbps 1,403 505 177.9 Lintasarta

High Speed Leased Line 64Kbps 25,856,856 14,297,652 80.8

Frame Relay 64Kbps 50,219 58,194 (13.7)

VSAT 64Kbps 133,564 126,048 6.0

IPVPN 64Kbps 2,772,126 2,442,336 13.5 IM2

Internet Dial Up User 3,271 3,309 (1.1) Internet Dedicated Link 789 915 (13.8) IPVPN Link 273 248 10.1

In 9M 2018, MIDI production showed increase mainly in Fixed Connectivity. Internet bandwidth (IP Transit & IDIA) grew significantly in the back of higher demand from new customer acquisition and customer retention. This situation in line with declining market price, causing operators to give customer retention in form of upgrading bandwidth. MARKETING ACTIVITIES

Indosat Ooredoo Launched 4G Plus in South Sulawesi and South Kalimantan

Indosat Ooredoo continues to execute its network expansion in ex-Java areas by launched 4G Plus in two additional provinces, namely South Kalimantan (18 September 2018) and South Sulawesi (20 September 2018). Almost all areas in South Kalimantan (15 districts and 75 sub-districts) and South Sulawesi (21 districts and 138 sub-districts) are now covered by Indosat Ooredoo 4G Plus network, a testament of the Company’s commitment for improvement in network and services quality.

NETWORKS

The Company operated 67,002 BTSs as of 30 September 2018, adding 6,755 BTSs compared to the same period in previous year. To date, The Company operates 11,636 sites for 4G network in 276 main cities in Indonesia.

Key Indicators YoY

9M 2018 9M 2017 Additional

Base Transceiver Stations (BTS) 2G 22,127 24,225 (2,098)

3G 33,239 29,912 3,327

4G 11,636 6,110 5,526 Base Station Controllers (BSC) 362 352 10

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.

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APPENDICES

AUDITED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For Nine-Month Period Ended 30 September 2018 With Comparative of 2017

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

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

REVENUES

Cellular 13,175.8 882.5 18,730.6 (29.7)

Multimedia, Data Communication, Internet (MIDI) 3,025.4 202.7 3,142.8 (3.7) Fixed Telecommunications 568.6 38.1 692.4 (17.9) TOTAL REVENUES 16,769.8 1,123.3 22,565.8 (25.7)

(EXPENSES) INCOME Cost of Services (8,694.1) (582.4) (9,270.9) (6.2) Depreciation and Amortization (6,139.0) (411.2) (6,650.9) (7.7) Personnel (1,677.5) (112.4) (1,730.2) (3.0) Marketing (721.0) (48.3) (940.9) (23.4) General and Administration (532.4) (35.7) (717.5) (25.8) Gain Associated with the Loss of Control of a Subsidiary 924.9 62.0 - 100.0 Amortization of Deferred Gain on Sale and Leaseback of

Towers

105.8

7.1 105.8

0.0 (Loss) Gain on Foreign Exchange - net (9.5) (0.6) 10.2 (193.0) Others - net 156.3 10.5 (97.0) 261.1 TOTAL EXPENSES (16.586,5) (1,111.0) (19,291.4) (14.0)

OPERATING PROFIT 183.3 12.3 3,274.4 (94.4)

Gain (Loss) on Change in Fair Value of Derivatives - net 41.3 2.8 (36.2) 214.0 Interest Income 29.9 2.0 41.5 (28.1) Financing Cost (1,556.5) (104.3) (1,579.0) (1.4) (Loss) Gain on Foreign Exchange - net (188.3) (12.6) 12.8 (1,575.4)

OTHER EXPENSES - Net (1,673.6) (112.1) (1,560.9) 7.2

(LOSS) PROFIT BEFORE INCOME TAX (1,490.3) (99.8) 1,713.5 (187.0)

INCOME TAX BENEFIT (EXPENSE) 237.3 15.9 (485.2) 148.9

(LOSS) PROFIT FOR THE PERIOD (1,253.0) (83.9) 1,228.3 (202.0)

(LOSS) PROFIT FOR THE PERIOD ATTRIBUTABLE TO :

OWNERS OF THE PARENT (1,539.0) (103.1) 1,090.3 (241.2)

NON-CONTROLLING INTERESTS 286.0 19.2 138.0 107.3

TOTAL (1,253.0) (83.9) 1,228.3 (202.0)

1) Translated into U.S. dollars using IDR14,929 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date 2) Percentage changes may vary due to rounding.

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AUDITED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

As of 30 September 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 9,830.2 658.5 9,479.2 3.7 Non-Current Assets 41,797.6 2,799.7 41,181.8 1.5

TOTAL ASSETS 51,627.8 3,458.2 50,661.0 1.9

LIABILITIES

Current Liabilities 19,990.1 1,339.0 16,200.5 23.4 Non-Current Liabilities 18,647.3 1,249.1 19,645.0 (5.1)

TOTAL LIABILITIES 38,637.4 2,588.1 35,845.5 7.8

TOTAL EQUITY 12,990.4 870.1 14,815.5 (12.3)

TOTAL LIABILITIES & EQUITY 51,627.8 3,458.2 50,661.0 1.9

1) Translated into U.S. dollars using IDR14,929 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 INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS For Nine-Month Period Ended 30 September 2018 With Comparative of 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 2,910.8 195.0 7,763.9 Net Cash Used in Investing Activities (3,910.7) (262.0) (4,240.9) Net Cash Provided by (Used in) Financing Activities 415.3 27.8 (3,721.6)

Net Foreign Exchange Differences from Cash and Cash Equivalents 38.1 2.6 2.4

Net Decrease in Cash and Cash Equivalents (546.5) (36.6) (196.2)

CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 1,674.7 112.2 1,850.4

CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 1,128.2 75.6 1,654.2

1) Translated into U.S. dollars using IDR14,929 to USD1 (in full amounts) as the prevailing exchange rate as of the balance sheet date

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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 1,130 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 RCF - Citibank Loans from non-controlling interest of LMD**

200 500 580

1.05

2019 2019 & 2021

2019

2020

Floating rate 1 month JIBOR + 1.25% p.a. 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 15.72 2019 Fixed 5.69% p.a. HSBC France - Sinosure 4.42 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”)

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DEBT MATURITIES WITHIN THE NEXT TWELVE MONTHS (FULL AMOUNTS)

Maturity Facility Amount

USD IDR

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

7,859,335 2,210,000

200,000,000,000 580,000,000,000

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

3Q 2019

Shelf Registration Indosat Bond I Phase IV - Series B Shelf Registration Indosat Sukuk Ijarah I Phase IV - Series B HSBC France - Coface Inst. HSBC France - Sinosure Inst

7,859,335 2,210,000

1,047,000,000,000 61,000,000,000

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.