Terms of Office of the Board of Directors

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 39 39 b. The GMOS can dismiss the members of the Board of Directors at any time by mentioning the reason. 102 c. The terms of office of members of the Board of Directors ends when: 103 1 Passed away. 2 His tenure ended. 3 Be dismissed based on the decision of the GMOS. 4 No longer meet the requirement as a member of the Board of Directors based on the provisions of the Articles of Association and legislations.

4. Duties, Obligations, Authorities and Rights of the Board of Directors

a. Duties and Obligations 104 of the Board of Directors 1 Board of Directors is in charge of performing all acts relating to the management of the Company for the benefit of the Company and in accordance with the purpose and objectives of the Company and represent the Company both inside and outside the Court regarding all matters and events with limitations as set forth in the legislations, Articles of Associations andor GMOS DecisionResolution. 105 2 One of members of the Board of Directors is appointed by the Board of Directors Meetings as a responsible person in the implementation and monitoring of the GCG in the Company. 106 3 Strive and ensure the implementation of the business and activities of the Company is in accordance with the Company purpose and objective. 4 Prepare in timely manner the Company long-term business plan and Corporate budget work plan and its changes and submit it to the Board of Commissioners and Shareholders to obtain the GMOS ratification. 5 Provide explanation to the GMOS regarding the Long-Term Business Plan and Corporate Budget Work Plan. 102 Article of Association of PT SUCOFINDO PERSERO Article 10 Paragraph 13, Law No. 19 Year 2003 Article 17 103 Article of Association of PT SUCOFINDO PERSERO Article 10 Paragraph 30 104 Article of Association of PT SUCOFINDO PERSERO Article 11 Paragraph 2.b 105 Article of Association of PT SUCOFINDO PERSERO Article 11 Paragraph 1 106 Regulation of the Minister of SOE No. PER-09MBU2012 Article 19 Paragraph 2 1 40 40 6 Prepare shareholders list, special list, minutes of the GMOS and minutes of the Board of Directors meeting. 7 Produce annual reports as a form of accountability of the Company management, as well as the financial documents of the Company as stipulated in the Regulations regarding the Company documents. 8 Prepare financial statements based on generally accepted accounting standards of financial accounting and deliver it to public accounting to be audited. 9 Submit annual reports including financial statements to the GMOS to be approved and ratified, as well as report concerning the rights of the Company that are not recorded in the ledgers, among others, as a result of receivable write-off. 10 Provide an explanation to the GMOS regarding the Annual Report. 11 Submit balance sheet and income statement, which have been ratified by the GMOS, to the Minister of Justice and Human Rights in accordance with the legislation. 12 Submit report on changes of shareholders, Board of Directors and Board of Commissioners to the Minister of Justice and Human Rights. 13 Maintain shareholders list, special list, minutes of GMOS, the Board of Commissioners and the Board of Directors meetings, Annual reports and financial documents of the Company as stated in points 6 and 7 and other Company documents. 14 Maintain at the site of the Company office: the shareholders list, special list, minutes of GMOS, the Board of Commissioners and the Board of Directors meetings, annual reports and financial documents of the Company as well as other documents referred on point 13. 15 Establish accounting system in accordance with generally accepted accounting standards and based on the principles of internal control, especially handling, maintaining, recording, and controlling functions. 16 Provide periodic reports according to the time and manner in compliance with the prevailing provisions, as well as other reports whenever requested by the Board of Commissioners andor shareholders.