Authorities of the Board of Directors

1 33 loan granted to a subsidiary company with the condition that the loan to Subsidiary is reported to the Board of Commissioners. 2 Pledge the fixed assets for drawdown of short term credit. 3 Release the movable fixed assets with economical life up to 5 five years. 4 Write off bad debts. 5 Establish cooperation with other business entity or other party in the form of licensing cooperation, contract management, asset leasing, joint operations KSO, Built Operate Transfer BOT, Built Own Transfer BowT, Built Transfer Operate BTO and other cooperation with specific value or time period determined by the GMOS. 6 Prepare and establish the organizational structure up to 1 one level below the Board of Directors. 7 Appoint the Corporate Secretary and the Head of Internal Audit Unit IA The decision of the Board of Commissioners towards the Board of Directors proposal, is submitted or notified to the Board of Directors within a period of 30 thirty days as regulated in Articles of Association from the receipt of the recommendation proposals or explanation and completed documents from the Board of Directors. However, if the Board of Commissioners does not provide any decision within the time frame, then the Board of Commissioners is considered approving the proposal of the Board of Directors. c. The Board of Directors is authorized to perform the following deeds after obtaining a written response from the Board of Commissioners and approval of the GMOS 68 . i. Pledge fixed assets for drawdown of mediumlong term loans ii. Bind the Company as a guarantor borgavalist. iii. No longer collect bad debts that have been written off iv. Conduct capital investment in other company. v. Establish subsidiaries andor joint ventures. vi. Release equity in subsidiaries andor joint ventures. 68 Article of Association of PT SUCOFINDO PERSERO Article 11 Paragraph 10 33 CHAPTER I INTRODUCTION CHAPTER II BOARD OF DIRECT ORS BOD CHAPTER III BOARD OF COMISSIONERS BOC CHAPTER IV ACTIVITY AMONG COMP ANY’S ORGAN CHAPTER V CLOSING 1 34 vii. Perform merger, takeover, consolidation, separation, and the dissolution of subsidiaries andor joint ventures. viii. Establish cooperation with other business entity or other party in the form of licensing cooperation, contract management, asset leasing, joint operations KSO, Built Operate Transfer BOT, Built Own Transfer BowT, Built Transfer Operate BTO and other cooperation with the value or period exceeding the assignment of GMOS. ix. Release and write off the fixed assets of the Company, except for movable fixed assets with economical life up to 5 five years. x. Define organizational blue print of the Company. xi. Define and change the company logo. xii. Perform other actions and action that has not been determined in CWPB. xiii. Establish a foundation, organization, andor association, which is related either directly or indirectly with the Company that could have an impact for the Company. xiv. Allocate the Company fixed and overhead cost for activities of the foundation, organization, andor association which is related either directly or indirectly with the company. xv. Recommend the Company representatives to become candidate of members of the Board of Directors and Board of Commissioners in a joint venture andor subsidiaries that contributes significantly to the Company andor strategic value as assigned by the GMOS. If within 30 thirty days from receipt of the request or clarification additional data from the Board of Directors, the Board of Commissioners does not provide any written response, the General Meeting of Shareholders may give a decision without any written response from the Board of Commissioners. 69 d. The Board of Directors is obligated to request for approval of the GMOS to transfer the Company’s property or to make debt security from the Company’s property which amount is more than 50 of the total networth of the Company in one or more transactions, ϲϵ Article of Association of PT SUCOFINDO PERSERO Article 11 Paragraph 13 34 1 35 either it is related to each other or not, which occurs within a period of 1 one fiscal year. 70

3. Rights of the Board of Directors

a. Receive salaries and other allowances and or the facilities including compensation of post-employment which amount is determined by the GMOS. b. If the Company profit exceeds the targeted level, the Board of Directors may accept tantiem as rewards on their achievement which amount is defined by the GMOS. c. Utilize the Company’s means and facilities for activities related to the interests of the Company in accordance with the legislation and policies of the Company. d. Conducting activity outside the Company that does not directly relate to the interests of the Company, such as teaching, becoming a manager of the business associations and other similar activities, is allowed provided that using reasonable time and acknowledged by the President Director or other Director. e. Obtain an annual leave in accordance with the applicable provisions. f. Obtain the Induction Program regarding the Company for newly appointed Member of the Board of Directors and capability enhancement program for the Board of Directors. g. Utilize the Company facilities responsibly in accordance with the prevailing provisions.

E. THE BOARD OF DIRECTORS MEETINGS 1. Type of Meeting of the Board of Directors

a. Meeting of the Board of Directors is a meeting held by the Board of Directors and each of the Director, who is present or represented is entitled to vote in such meeting. The Board of Directors meeting is conducted regularly at least once in a month. All Directors are expected to attend the meeting of the Board of Directors without being represented. 70 Article of Association of PT SUCOFINDO PERSERO Article 11 Paragraph 14 35 CHAPTER I INTRODUCTION CHAPTER II BOARD OF DIRECT ORS BOD CHAPTER III BOARD OF COMISSIONERS BOC CHAPTER IV ACTIVITY AMONG COMP ANY’S ORGAN CHAPTER V CLOSING 1 36 b. Regular Meeting Is a meeting held by the Company, attended by the Board of Directors, Head of Division Corporate Secretary, and Head of other relevant work units as well as employees who are invited. Besides held regularly, i.e. at least once in a month, it can also be conducted at any time according to the needs. c. Performance Meeting the Board of Commissioners and Board of Directors The meeting is held by the Company which is attended by the Board of Directors, Board of Commissioners, Head of Division, Corporate Secreatry, and other related unit heads. The Discussion Agenda: 1 Material of evaluation and financial performance of the current month periodic evaluation of business results 2 Discussion on actual issues to obtain solutions. d. Management Meeting The meeting is held by the Company at least 1 one time in 1 one year and at least attended by the Board of Directors, related Division Heads and Branch Managers. The Discussion Agenda: 1 Material of quarterly evaluation and financial performance evaluation of business results 2 Estimation of operating income of the current month 3 Discussion on the actual issues Evaluation materials in the management meeting is conducting an evaluation on operating income on a periodic basis, the estimated operating income of the current year, discussion on actual issues and prepare the Company’s budget and work plan of the the following year. e. Work Meetings Is a meeting that is held by the Company at least 1 one time in 1 one year and at least attended by the Board of Commissioners, the Board of Directors, Vice President and the Head of Branch. 36