FOR DISCUSSION PURPOSES ONLY AND SUBJECT TO CHANGE

BIL Version 4 April 2019

CHECKLIST OF DOCUMENTS FOR ACQUISITION AND CONVERSION OF STATUS OF

PT SPRUSON FERGUSON INDONESIA

Client : PT Spruson Ferguson Indonesia

Matter : Acquisition and Conversion of Status

1. PT Spruson Ferguson Indonesia (“Company”)

2. IPH Limited (“IPH Ltd”)
3. IPH Holdings (Asia) Pte., Ltd (“IPH Asia”)
4. Budidjaja International Lawyers (“BIL”)
5. Moeliana Santoso (“Notary”)
Responsible
6. Arief Zakir Sobari (“Arief”)
Parties :
7. Nur Zainuddin (“Nur”)

(hereinafter Arief and Nur shall collectively be referred to as

“Previous Shareholders” and IPH Ltd and IPH Asia shall
collectively be referred to as “New Shareholders”)

NO. DOCUMENTS NAME SET TIMELINE* PARTIES REMARKS

STEP I: ACQUISITION

1. Issuance of Call Option Notice and First Demand Letter 4 1 day 1. IPH Asia BIL shall provide the
2. Arief draft of the documents
3. Nur
4. BIL

1.1 Call Option Notice from IPH Asia to Arief and 2 1 day 1. IPH Asia BIL shall provide the
Nur 2. Arief draft of the documents
3. Nur
4. BIL

1.2 First Demand Letter from IPH Asia to Arief and 2 12 October 2018 1. IPH Asia BIL shall provide the
 NO. DOCUMENTS NAME SET TIMELINE* PARTIES REMARKS

Nur 2. Arief draft of the documents

3. Nur
1. BIL Founders
2. BIL

2. Announcement to Employees and Indonesian

Newspaper

1.

STEP II: OBTAINMENT OF BUSINESS IDENTIFICATION NUMBER (“NIB”) AND BUSINESS LICENSE

5. Online Single Submission (“OSS”) Account 1 TBD BIL To be prepared

following completion of
Step II

5.1 Company email 1 TBD BIL To be prepared

following completion of
Step II

5.2 OSS Account and NIB Application Form 1 TBD 1. BIL To be prepared
2. Company following completion of
Step II

* Completion dates estimation may vary on a case by case basis as subject to availability of required documents and discretion of relevant authorities, and may be updated from time 2
to time.
* Completion dates estimation may vary on a case by case basis as subject to availability of required documents and discretion of relevant authorities, and may be updated from time 3
to time.