PT BAKRIE TELECOM. (" ("Issuer") issued $380 million of guaranteed senior notes, due on May 7, 2015 ("Notes");

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1 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK: COMMERCIAL DIVISION " ""-x x I NIŸEl SÃL ÏÑ ESŸl ÑNT ÄDŸISOÏ Ÿ S UNIVERSAL ABSOLUTE RETURN SP; VAQUERO : MASTER EM CREDIT FUND LTD; HARSHIL KANTILAL: Index No /2014 KOTHARI; FOOTBRIDGE CAPITAL, LLC; GROWTH : CREDIT FUND IC, : (Hon. Saliann Scarpulla) Plaintiffs, v. STIPULATION AND BAKRIE LTD. TELECOM PTE, LTD; TBK; PT BAKRIE NETWORK; PT BAKRIE PT BAKRIE TELECOM CONNECTIVITY, PT BAKRIE & BROTHERS TBK, ANINDYA NOVYAN BAKRIE, FREDERIK JOHANNES : MEIJER, MUHAMMAD BULDANSYAH, JULIANDUS A : LUMBAN Ll JVLDWi I TOBlNG, RAKHMAT JUNAIDI, JASTIRO ABI, : GAFUR SULISTYO UMAR, AI MULYADI MAMOER, : RAJSEKAR KUPPUSWAMI MITTA, NALINKANT A : RATHOD, AMBONO JANURIANTO, :. ORDER REGARDING. ENTRY OF JUDGMENT x Defendants. WHEREAS, pursuant to an Indenture dated May 7, 2010 and a Supplemental Indenture "Indenture" dated January 27, 2011 (collectively, "Indenture"), Defendant Bakrie Telecom Pte, Ltd. (" Issuer" (" Notes" ("Issuer") issued $380 million of guaranteed senior notes, due on May 7, 2015 ("Notes"); Debtor" WHEREAS, Defendants PT Bakrie Telecom Tbk (the "Foreign Debtor"), PT Bakrie Network and PT Bakric Connectivity ("Guarantors" and, together with the Issuer, "Issuer and Defendants" Guarantor Defendants") issued Guarantees irrevocably and unconditionally guaranteeing payment of the Issuer's obligations under the Notes; WHEREAS, Plaintiffs alleged herein that they are holders of more than 25% of the outstanding $380 million in Notes; WHEREAS, Plaintiffs alleged herein that the Issuer and Guarantor Defendants defaulted on their payment obligations under the Notes, Indenture and Guarantees;

2 WHEREAS, on July 27, 2015, Plaintiffs moved for summary judgment on the First Cause of Action of their Second Amended Complaint for breach of the Notes, Indenture and (" Action" Guarantees due to non-payment ("First Cause of Action"); WHEREAS, after due deliberation, the Court (Honorable Saliann Scarpulla, IAS Part 39) entered a Decision and Order dated April 18, 2016, entered by the New York County Court Order" Clerk on April 22, 2016 (the "Decision and Order"), that, inter alia, granted Plaintiffs' motion establishing liability on the First Cause of Action against the Issuer and Guarantor Defendants and in favor of Plaintiffs; WHEREAS, on June 17, 2016, Plaintiffs moved for an order and judgment fixing damages on the First Cause of Action, or, in the alternative, for an order of reference pursuant to CPLR Rule 3212(c) and/or 4317(b) to hear and determine the damages amount (the "Judgment Motion" Motion"); WHEREAS, by Decision and Order entered August 29, 2017, after due deliberation, the Supreme Court, Appellate Division, First Department affirmed the Decision and Order of this Court as to the First Cause of Action; WHEREAS, this Court heard argument on the Judgment Motion on October 4, 2017 and it is now sub judice; WHEREAS, on January 29, 2018, the Foreign Debtor filed in the United States Bankruptcy Court for the Southern District of New York the Verifled Petition of Jastiro Abi, as Foreign Representative of the Debtor in a Foreign Proceeding, for (I) Recognition of Foreign Main Proceeding Pursuant to 11 U.S.C and 1517 and (II) Relief Pursuant to 11 U.S.C and 1521 filed on (" January 29, 2018 (Case No shl) ("Chapter Case" 15 Case"); 2

3 WHEREAS, as part of the Chapter 15 Case, the Plaintiffs and the Foreign Debtor stipulated and the Bankruptcy Court So Ordered the Stipulation And Order (i) Scheduling Combined Hearing On Petition For Recognition And Relief (ii) Fixing Discovery And Briefing Deadlines, And (iii) Specifying Form And Manner Of Service Of Notice (the "Chapter 15 Stipulation" Stipulation"), in which the Foreign Debtor agreed, subject to the terms of the Chapter 15 Stipulation, to the entry of judgment herein in the form attached as Exhibit A. NOW, THEREFORE, IT IS hereby STIPULATED AND AGREED by counsel for the Plaintiffs and the Issuer and Guarantor Defendants that: 1. The Judgment Motion shall be granted as provided in and in the amounts set forth in Exhibit A hereto; 2. TheNew York County Clerk is directed to enter and docket judgment in the form attached hereto as Exhibit A; and 3. Plaintiffs will take no steps to execute upon or otherwise enforce collection of the judgment, and the parties hereto shall not pursue any pending or additional discovery or other proceedings in this Court until such time as any one or more Orders are entered by the United States Bankruptcy Court for the Southern Debtor' District of New York (a) denying (i) recognition of the Foreign Debtor's Proceeding" Indonesian PKPU proceeding (the "Indonesian Proceeding"), or (ii) enforcement of the restructuring plan approved in the Indonesian Proceeding within the territorial jurisdiction of the United States, or (iii) relief for the benefit and protection of any Defendants in this action other than the Foreign Debtor, but further proceedings shall be permitted only to the extent such relief for the Defendants other than the Foreign Debtor has been denied as provided in an 3

4 order or decision by the United States Bankruptcy Court for the Southern District of New York, or (b) dismissing the Chapter 15 Case. Dated: New York, New York FebruaryM, 2018 Respectfully submitted, GREENBERG TR Al RKi.!M ) SCHNADER HARRISON SEGAL & LEWIS LLP [jyc.: James W. Perkins Kenneth R. Puhala Anne C. Reddy Theodore L. Hecht MetLife Building 140 Broadway, Suite Park Avenue New York, New York New York, NY Phone: (212) Telephone: (212) Fax: (212) Facsimile: (212) kpuhala@schnader.com perkinsj@gtlaw.com thecht@schnader.com reddya@gtlaw.com Counsel for Plaintiffs Universal Investment Advisory SA, Universal Absolute Return SP, Vaquero Master EM Credit Fund, Ltd., Harshil Kantilal Kothari, Footbridge Capital, LLC and Growth Credit Fund IC Counsel for Defendants Bakrie Telecom Pte, Ltd., PT Bakne Telecom Tbk, PT Bakrie Network and PT Bakrie Connectivity - and - STONE & MAGNANINI LLP David S. Stone Julio C. Gomez 100 Connell Drive, Suite 2200 Berkeley Heights, New Jersey Telephone: (973) Facsimile: (973) DStone@stonemagnalaw.com JGomez@stonemagnalaw.com Counsel for PlaintilTs Universal Investment Advisory SA and Universal Absolute Return SP 4

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6 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK: COMMERCIAL DIVISION " X ÏÎNI El SÃL ÏÑÏEST1 IËNT ÃDŸISORE SA; UNIVERSAL ABSOLUTE RETURN SP; VAQUERO : MASTER EM CREDIT FUND LTD; HARSHIL KANTILAL: Index No /2014 KOTHARI; FOOTBRIDGE CAPITAL, LLC; GROWTH : CREDIT FUND IC, : (Hon. Saliann Scarpulla) Plaintiffs, v. [PROPOSED] JUDGMENT BAKRIE TELECOM PTE, LTD; PT BAKRIE TELECOM : TBK; PT BAKRIE NETWORK; PT BAKRIE : CONNECTIVITY, PT BAKRIE & BROTHERS TBK, : ANINDYA NOVYAN BAKRIE, FREDERIK JOHANNES : MEIJER, MUHAMMAD BULDANSYAH, JULIANDUS A : LUMBAN TOBING, RAKHMAT JUNAIDI, JASTIRO ABI, : GAFUR SULISTYO UMAR, AI MULYADI MAMOER, : RAJSEKAR KUPPUSWAMI MITTA, NALINKANT A : RATHOD, AMBONO JANURIANTO, : Defendants. : -x WHEREAS, pursuant to an Indenture dated May 7, 2010 and a Supplemental Indenture "Indenture" dated January 27, 2011 (collectively, "Indenture"), Defendant Bakrie Telecom Pte, Ltd. (" Issuer" (" Notes" ("Issuer") issued $380 million of guaranteed senior notes, due on May 7, 2015 ("Notes"); WHEREAS, Defendants PT Bakrie Telecom Tbk, PT Bakrie Network and PT Bakrie Connectivity ("Guarantors" Defendants" and, together with the Issuer, "Issuer and Guarantor Defendants") issued Guarantees irrevocably and unconditionally guaranteeing payment of the Issuer's obligations under the Notes; WHEREAS, Plaintiffs alleged herein that they are holders of more than 25% of the outstanding $380 million in Notes; WHEREAS, Plaintiffs alleged herein that the Issuer and Guarantor Defendants defaulted on their payment obligations under the Notes, Indenture and Guarantees; ~P-

7 WHEREAS, on July 27, 2015, Plaintiffs moved for summary judgment on the First Cause of Action of their Second Amended Complaint for breach of the Notes, Indenture and (" Action" Guarantees due to non-payment ("First Cause of Action"); WHEREAS, after due deliberation, the Court (Honorable Saliann Scarpulla, IAS Part 39) entered a Decision and Order dated April 18, 2016, entered by the New York County Court Order" Clerk on April 22, 2016 (the "Decision and Order"), that, inter alia, granted Plaintiffs' motion to the extent of finding liability on the First Cause of Action against the Issuer and Guarantor Defendants and in favor of Plaintiffs; WHEREAS, on June 17, 2016, Plaintiffs moved for an order and judgment fixing damages on the First Cause of Action, or, in the alternative, for an order of reference pursuant to CPLR Rule 3212(c) and/or 4317(b) to hear and determine the damages amount (the "Judgment Motion" Motion"); WHEREAS, by Decision and Order entered August 29, 2017, after due deliberation, the Supreme Court, Appellate Division, First Department affirmed the Decision and Order of this Court as to the First Cause of Action; WHEREAS, this Court heard argument on the Judgment Motion on October 4, 2017 and that Motion is currently under submission to the Court; WHEREAS, pursuant to the terms of a Stipulation and Order Regarding Entry of Judgment, the Issuer and Guarantor Defendants have agreed to permit the entry of judgment against each of them on the First Cause of Action in the amounts and on the terms set forth below; WHEREAS, pre-judgment interest continues to accrue from February 15, 2018 through the date of entry of judgment at the following rates: $24, per diem in favor of Plaintiff 2

8 Universal Investment Advisory SA; $1, per diem in favor of Plaintiff Universal Absolute Return SP; $2, per diem in favor of Plaintiff Vaquero Master EM Credit Fund Ltd.; $71.57 per diem in favor of Harshil Kantilal Kothari; $1, per diem in favor of Plaintiff Footbridge Capital LLC; and $ per diem in favor of Plaintiff Growth Credit Fund IC; NOW, THEREFORE, it is ADJUDGED that Plaintiffs have judgment against Bakrie Telecom Pte, Ltd., PT Bakrie Telecom Tbk, PT Bakrie Network and PT Bakrie Connectivity as follows: 1. It is ADJUDGED that Plaintiff Universal Investment Advisory SA has judgment against Bakrie Telecom Pte, Ltd., PT Bakrie Telecom Tbk, PT Bakrie Network and PT Bakrie Connectivity jointly and severally in the amount of $132,265,082.22, inclusive of contractual and statutory pre-judgment interest through February 15, 2018, plus $ in additional pre-judgment interest for a total amount of $ 2. It is ADJUDGED that Plaintiff Universal Absolute Return SP has judgment against Bakrie Telecom Pte, Ltd., PT Bakrie Telecom Tbk, PT Bakrie Network and PT Bakrie Connectivity jointly and severally in the amount of $6,238,201.28, inclusive of contractual and statutory pre-judgment interest through February 15, 2018, plus $ in additional pre-judgment interest for a total amount of $ ; 3. It is ADJUDGED that Plaintiff Vaquero Master EM Credit Fund Ltd. has judgment against Bakrie Telecom Pte, Ltd., PT Bakrie Telecom Tbk, PT Bakrie Network and PT Bakrie Connectivity jointly and severally in the amount of $14,230,706.48, inclusive of contractual and statutory pre-judgment interest 3

9 through February 15, 2018, plus $ in additional pre-judgment interest for a total amount of $ ; 4. It is ADJUDGED thatplaintiff Harshil Kantilal Kothari has judgment against Bakrie Telecom Pte, Ltd., PT Bakrie Telecom Tbk, PT Bakrie Network and PT Bakrie Connectivity jointly and severally in the amount of $380,378.12, inclusive of contractual and statutory pre-judgment interest through February 15, 2018, plus $ in additional pre-judgment interest for a total amount of $ ; 5. It is ADJUDGED thatplaintiff Footbridge Capital LLC has judgment against Bakrie Telecom Pte, Ltd., PT Bakrie Telecom Tbk, PT Bakrie Network andpt Bakrie Connectivity jointly and severally in the amount of $6,542,503.78, inclusive of contractual and statutory pre-judgment interest through February 15, 2018, plus $ in additional pre-judgment interest for a total amount of $ 6. It is ADJUDGED thatplaintiff Growth Credit Fund IC has judgment against Bakrie TelecomPte, Ltd., PT Bakrie Telecom Tbk,PTBakrie Network and PT Bakrie Connectivity jointly and severally in the amount of $1,141,134.38, inclusive of contractual and statutory pre-judgment interest through February 15, 2018, plus $ in additional pre-judgment interest for a total amount of $. Judgment signed and entered on this _ day of February CLERK y lq