Association by way of Management and Supervision Between the Company and Legal Entity

75 70 oner oner oner r tor Name pany ABPL O IEL MOS PUL SML SOKL Paulus ident President - - ident - - Com ohanes issioner - Com Com - Com Com - Edy Independent - - - - - - - Go ident Dir - - Dir - - President Paula rector - - - - - - Hartono ident President Pieters ident ident ident President Liem Independent - - - - - - - No. e e pany‟s of ment of hment ess ities tional s 1 99.91 2012 1980 pping operating 2 99.93 2012 2006 pping operating 3 99.99 2012 2007 ard operating 4 99.80 2010 1999 pping operating 5 99.99 2012 2006 pping operating 6 99.99 2013 2011 ing operating 7 99.98 2012 2011 pping operating 8 99.99 2012 2012 pping operating iary‟s Direct of perational Business tus nership 2 100 2013 - pping g 71 1 PT Armada Bumi Pratiwi Lines “ABPL” a. Brief History ABPL is a legal entity engaged in shipping industry, established in the form of a limited liability company, APBL was established under the name of PT Armada Bumi Pratiwi Lines. In accordance with Deed of Establishment No. 1 dated 3 November, which was partially amended by Deed of Amendment on Articles of Associations No. 47 dated 28 September 1981, both of which were drawn up before Drs. H. Erwal Gewang, SH., Notary in Jakarta, which have received approval from the Minister of Law and Human Rights of the Republic of Indonesia by virtue of Decree No. Y.A.556115 dated 10 September 1981, and were registered in the Court Registry of Central Jakarta under No. 4625 dated 22 December 2981, the State Gazette of the Republic of Indonesia and the Supplement to the State Gazette of the Republic of Indonesia pertaining to the above are in process as evidenced by Representation Letter No. 108NOTKETVIII2014 dated 19 August 2014, drawn up by Herry Julianto, SH., Notary in Bekasi. The Articles of Association has been amended several times, with the latest amendment being the Deed of Shareholders Resolution No. 104 dated 19 December 2012, drawn up before Yulia, SH., Notary in South Jakarta, which was approved by the Minister of Law and Human Rights of the Republic of Indonesia by virtue of Decree No. AHU-65633.AH.01.02 Tahun 2012 dated 21 December 2012 and was registered in the Company Register No. AHU-0111127.AH.01.09 Tahun 2012 dated 21 December 2012 and was registered in the Company Registry at the Company Registration Office No. 09.05.1.50.31545 dated 26 September 2013, whereby the shareholders approved the change of nominal value per share of share capital, the increase of authorized capital and issued and paid-up capital. ABPL is located at: Jl. Mangga Dua Dalam Komplek Duta Pertiwi Blok J No. 5-6, South Mangga Dua Village, Sawah Besar District, Central Jakarta, 10730 Telephone : 021 6128233 Faximile : 021 6128191 b. Composition of Management and Supervision Board Deed of Shareholders Resolution No. 104 dated 19 December 2012, drawn up before Yulia, SH., Notary in South Jakarta, which was approved by the Minister of Law and Human Rights of the Republic of Indonesia by virtue of Decree No. AHU-65633.AH.01.02 Tahun 2012 dated 21 December 2012 and was registered in the Company Register No. AHU-0111127.AH.01.09 tahun 2012 dated 21 December 2012 and registered in the Company Registry at the Company Registration Office under No. 09.05.1.50.31545 dated 26 September 2013, stipulated the composition of management and supervision board as follows: Board of Commissioners Commissioner : Hartono Utomo Board of Directors President Director : Paulus Utomo Director : Go Darmadi c. Capital Structure and Shareholders Composition Shareholders Name Number of Shares Nominal Value Rp Value Rp Percentage Authorized Capital A Series 3,400 25,000,000 85,000,000,000 B Series 4,000,000 10,000 40,000,000,000 Total Authorized Capital 4,003,400 125,000,000,000 Issued and Paid-up Capital : PT Soechi Lines B series 1,000,000 10,000 10,000,000,000

99.91 Paulus Utomo A series

350 25,000,000 8,750,000,000 0.04 Hartono Utomo A series 350 25,000,000 8,750,000,000

0.04 Go Darmadi A series

178 25,000,000 4,450,000,000 0.01 Total Issued and Paid-up Capital 1,000,878 31,950,000,000 100.00 A Series Shares in Portfolio 2,522 63,050,000,000 B Series Shares in Portfolio 3,000,000 30,000,000,000 Total Shares in Portfolio 3,002,522 93,050,000,000