Corporate Work Plan and Budget

1 60 60 to the shareholders no later than 60 sixty days prior to the fiscal year to obtain the approval of GMOS, with due regard to the prevailing provisions. 146 6 The Work plan and budget of the Company should be approved by the GMOS no later than 30 thirty days after the fiscal year started. 147 If the draft of Work plan and budget of the Company has not been delivered by the Board of Directors, andor the draft RKAP has not been approved in such period, the Work plan and budget of the Company of the previous fiscal year shall prevail. c. Implementation and Monitoring of the Work plan and budget of the Company 1 Each work unit submits implementation reports of quarterly and annual Work plan and budget of the Company to the Board of Directors. 2 The evaluation report of the implementation of the Work plan and budget of the Company is prepared by the Board of Directors and submitted to the Board of Commissioners and Shareholders on quarterly and yearly basis. 3 The implementation and achievement of the Work plan and budget of the Company should be monitored by the Board of Commissioners. The monitoring result is conveyed by the Board of Commissioners in the GMOS as part of the performance assessment of the Board of Directors. 4 The amendment of the Work plan and budget of the Company can be done every 6 six months after the realisation of the RKAP implementation or at any time when deemed necessary, if there is a very significant change in the fundamental parameters with the justification that can be accounted for.

5. Risk Management

The increase of competition in services business makes the Company be more realize the importance of implementing integrated risk management. The implementation can make the Company becomes stronger in encountering various risks including the extreme risk. 146 Article of Association of PT SUCOFINDO PERSERO Article 17 Paragraph 3 147 Article of Association of PT SUCOFINDO PERSERO Article 17 Paragraph 4 1 C HA P T E R I IN T R O D U C T IO N C HA P T E R I I T H E PR IN C IPL ES O F G O O D C O R PO R A T E G O VER N A N C E C HA P T E R I I I T H E C O MP A N Y O R G A N S C HA P T E R I V T H E C O MP A N Y’ S PR IN C IP A L PO L IC Y C HA P T E R V I MA N A G EMEN T O F R EL A T IO N - SH IP W IT H ST A K EH O L D ER S C HA P T E R V I I IMPL EMEN T A T IO N O F G U ID EL IN ES C HA P T E R V I I I C L O SI N G C HA P T E R V MA N A G EMEN T O F SU B SI D IA R IES 61 61 Enterprise Risk Management ERM is a method that is structured logically and systematically from a series of activities, namely the