BRIEF HISTORY OF THE COMPANY

dated June 30, 2008, registered in the Company Register No. AHU-0053226.AH.01.09.Year 2008 dated June 30, 2008, registered in the Company Register in accordance with UUWDP with TDP No. 09.05.1.51.42045 dated July 17, 2009 in Office of Cooperatives, Micro, Small and Medium Enterprises and Trade of Jakarta Provincial Government under No. 9627RUB.09.05 III2009 dated March 18, 2009 and has been published in the State Gazette of the Republic of Indonesia No.1, dated January 2, 2009, Supplement No. 91; b Deed No. 45 dated February 23, 2009 prepared by Linda Herawati, SH, Notary in Central Jakarta, of which contents were in connection with the increase of the Company’s issued and paid capital. The deed has been received and recorded in the database of Legal Entities Administration System of Ministry of Justice and Human Rights of the Republic of Indonesia pursuant to i Receipt of Notification of Amendment of Articles of Association No. AHU-AH.01.10-02056 dated March 19, 2009 and ii Receipt of Company’s Data Change Notification of No. AHU-AH.01.10-02057 dated March 19, 2009, each of which has been registered in the Company Register in accordance with UUPT under No. AHU-0010486.AH.01.09.Year 2009 dated March 19, 2009 and No. AHU-0010487.AH.01.09. Year 2009 dated March 19, 2009, registered in the Company Register in accordance UUWDP under TDP No. 09.05.1.51.42045 dated July 17, 2009 in Office of Cooperatives, Micro, Small and Medium Enterprises and Trade of Jakarta Provincial Government under No. 9627RUB.09.05 III2009 dated March 18, 2009, and has been published in State Gazette of the Republic of Indonesia No. 64 dated August 11, 2009 Supplement No. 649. c Deed No. 56 dated July 20, 2010 prepared by Hannywati Gunawan, SH, Notary in Jakarta, of which contents among others were in connection with the increase of authorized, issued and paid capital of the Company. The deed has obtained approval of the Minister of Justice by Decision No. AHU-37165.AH.01.02.Year 2010 dated July 27, 2010, has been registered in the Company Register in accordance with UUPT under No. AHU-0056092.AH.01.09.Year 2010 dated July 27, 2010 and has been received and recorded in the database of Legal Entities Administration System of Ministry of Justice and Human Rights of the Republic of Indonesia No. AHU-AH.01.10-19805 dated August 4, 2010 and has been registered in the Company Register in accordance with UUPT No. AHU-0058334.AH.01.09 Year 2010 dated August 4, 2010, registered in the Company Register in accordance with UUWDP under TDP No. 09.05.1.46.42045 in Office of Cooperatives, Micro, Small and Medium Enterprises, and Trade of Jakarta Provincial Government dated March 22, 2011. d Deed No. 74 dated October 22, 2010 prepared by Hannywati Gunawan, SH, Notary in Jakarta, among others, related to i change of Nominal Value of the shares from Rp.1,000,000 one million rupiah to Rp100 one hundred Rupiah, and ii the increase of authorized, issued and paid capital of the Company. The deed has obtained approval of the Minister of Justice pursuant to Decision No. AHU- 50927.AH.01.02.Year 2010 dated October 29, 2010, and has been registered in the Company Register in accordance with UUPT under No. AHU-0078459.AH.01.09.Year 2010 dated October 29, 2010 and has been registered in the Company Register in accordance with UUWDP under TDP No. 09.05.1.46.42045 in Office of Cooperatives, Micro, Small and Medium Enterprises, and Trade of Jakarta Provincial Government dated March 22, 2011. e Deed No. 43 dated November 16, 2010 made before Linda Herawati, SH, Notary in Central Jakarta, of which contents among others related to i the change of the Companys status from closely held to publicly listed company; ii change of the Companys name from PT Bumi Kencana Eka Sakti to PT Golden Energy Mines Tbk; iii changes in the purpose and objectives and business activities of the Company and iv amendments throughout the Company’s Articles of Association to conform with the provisions of regulations of Bapepam-LK No. IX.J.1. The deed has obtained approval of the Minister of Justice by Decision No. AHU-54931.AH.01.02.Year 2010 dated November 23, 2010, has been registered in the Company Register in accordance with UUPT under No. AHU- 0084940.AH.01.09.Year 2010 dated November 23, 2010 and the Receipt of Amendments of Articles of Association Notification has been received and recorded in the database of Legal Entities Administration System of Ministry of Justice and Human Rights of the Republic of Indonesia on November 30, 2010 under No. AHU-AH.01.10- 30717 and has been registered in the Company Register in accordance with UUPT under No. AHU-0086853.AH.01.09.Year 2010 dated November 30, 2010, registered in the Company Register in accordance with UUWDP under TDP No. 09.05.1.46.42045 in Office of Cooperatives, Micro, Small and Medium Enterprises and Trade of Jakarta Provincial Government dated March 22, 2011. Since it was established, the Company has had main business operation in the mining sector through its subsidiaries and Coal Trading.

2. DEVELOPMENT OF COMPANY’S SHAREHOLDING STRUCTURE

The development of structure and share ownership since establishment up to the publication date of this prospectus is as follows: In 1997 Establishment In accordance with the Deed no. 81 dated March 13, 1997, made before Imam Santoso, SH, Notary in Jakarta, the capital and shareholding structure of the Company at the time of the establishment was as follows: Description N ominal Value of Rp1,000,000 per share Total Shares Tot al Nominal Value Rp Aut hor ized Share Capit al 20 20,000,000 Issued and Fully Paid Capit al - Ny. Fia Hanafi, S.H. 4 4,000,000 80.00 - Ny. Retno Sri Hast uti, S.H. 1 1,000,000 20.00 Total Issued and Fully Paid 5 5,000,000 100.00 Portfolio Shares 15 15,000,000 In 1999 In accordance with the Deed No. 20 dated June 24, 1999, made before Hardinawanti Surodjo, SH, Notary in Jakarta, of which contents related to the sale of 4 four shares of the Company which belonged to Ny. Fia Hanafi to PT Ivo Mas Tunggal and the sale of 1 one share of the Company which belonged to Ny. Retno Sri Hastuti to PT Buana Wiralestari, then the composition of shareholders and share ownership of the Company was as follows: Description N ominal Value of Rp1,000,000 per share Total Shares Tot al Nominal Value Rp Aut hor ized Share Capit al 20 20,000,000 Issued and Fully Paid Capit al - PT Ivo M as Tunggal 4 4,000,000 80.00 - PT. Buana Wiralest ar i 1 1,000,000 20.00 Total Issued and Fully Paid 5 5,000,000 100.00 Portfolio Shares 15 15,000,000 The sale and transfer of shares of the Company has obtained approval of the shareholders of the Company as stated in the Deed No. 19 dated June 24, 1999, made before Hardinawanti Surodjo, SH, Notary in Jakarta, which deed has been notified to the Directorate General of Law and Legislation of Department of Justice of the Republic of Indonesia and received on September 7, 1999 and has been registered in the Company Register in accordance with UUWDP under TDP No. 09.05.1.51.42045 dated July 17, 2009 in Office of Cooperatives, Micro, Small and Medium Enterprises and Trade of Jakarta Provincial Government No.9627RUB.09.05III2009 dated March 18, 2009. In 2001 In accordance with the Deed No. 14 dated April 24, 2001, made before Hardinawanti Surodjo, SH, Notary in Jakarta, of which