Change - Announcement Of Appointment :: Appointment Of Deputy Director, Commercial

Mr. Trisnadi Sukur Muslim Mulia is a director of PT Perusahaan Pelayaran Nusantara Panurjwan and PT Samudera Indonesia Logistik Kargo. PT Perusahaan Pelayaran Nusantara Panurjwan and PT Samudera Indonesia Logistik Kargo are both subsidiaries of PT Samudera Indonesia Tangguh, the ultimate parent company of the Company.

PT Perusahaan Pelayaran Nusantara Panurjwan is in the business of owning and chartering vessels. PT Samudera Indonesia Logistik Kargo is in the business of freight forwarding.

In addition to the above, Mr. Trisnadi Sukur Muslim Mulia is also the commissioner of PT Samudera Perkapalan Indonesia. PT Samudera Perkapalan Indonesia is a subsidiary of PT Samudera Indonesia Tbk, the parent company of the Company.

PT Samudera Perkapalan Indonesia is an investment holding company for shipping project in Indonesia.

The business acitivites of PT Perusahaan Pelayaran Nusantara Panurjwan, PT Samudera Indonesia Logistik Kargo and PT Samudera Perkapalan Indonesia may result in a situation of conflict of interest. Specifically, the Company and its subsidiary have existing transactions with PT Perusahaan Pelayaran Nusantara Panurjwan for the chartering of vessels.

Any potential conflict of interest will be mitigated as follows by the Company:

1. Mr. Trisnadi Sukur Muslim Mulia who is part of the key management team of the Company, is currently not a member of the Board of Directors of the Company. Mr. Trisnadi Sukur Muslim Mulia will report to the Executive Director (Commercial) and Chief Executive Director of the Company whom in turn report to the Board of Directors of the Company. All the major decision involving the Company will be determined by the Board of Directors. Further, Executive Director (Commercial) and Chief Executive Director will report to the Board of Directors any conflict of interest involving Mr. Trisnadi Sukur Muslim Mulia. The Board of Directors will review any conflict of interest involving Mr. Trisnadi Sukur Muslim Mulia.

2. The Audit Committee will review any actual or potential conflicts of interest as disclosed to them. Upon disclosure of an actual or potential conflict of interest, the Audit Committee will consider whether a conflict of interest does in fact exist. The review will include an examination of the nature of the conflict and such relevant supporting information, as the Audit Committee deems to be appropriate. Where a conflict of interest does exist, the Audit Committee will resolve or propose, where appropriate, the relevant measures for the management of such conflicts; and

3. As an employee of the Company, Mr. Trisnadi Sukur Muslim Mulia owes the duty of fidelity and good faith to the Company.