Parna Raya Group currently has a number of subsidiaries

and affiliates in the land transportation, sea transportation,

general trading, oil and gas, petrochemical, hotel, mining
and oil palm plantation industries.

1. PT Parna Raya
PT Parna Raya is the holding company of the Parna Raya Group which is now engaged in
various business fields, including: Petrochemical, Logistics, Investment, Energy and Oil and Gas
Infrastructure.

2. PT Pelayaran Parnaraya Nusantara

PT Pelayaran Parnaraya Nusantara, which operates in the shipping industry, started with three
general cargo ships named Parnaraya-8, Parnaraya-18 and Parnaraya-28. Seven years later,
another ship was added, Parnaraya-38. These vessels were converted from general cargo
ships to cement carriers in bulk, with the latter being converted to Parnaraya-38 in 1997. The
total carrying capacity of Parnaraya-18, Parnaraya-28, and Parnaraya-38 is 22,600 tonnes of
cement. These ships are dedicated to serving local cement distribution in all ports in Indonesia,
supporting several State-Owned Enterprises, including: PT Semen Padang (West Sumatra) and
PT Semen Tonasa (South Sulawesi).

3. PT Pelayaran Arthasamudera Mandiri

Founded on May 6, 1992 as a subsidiary of PT Parna Raya, PT Pelayaran Arthasamudera
Mandiri started business with two general cargo vessels, named MV. Artha 8 and MV. Artha
Samudera, with a total DWT of 8,750 metric tons.

The two vessels are under long-term contracts until 2005, operating on domestic sea voyages,
transporting and distributing fertilizer made by PT Pusri to various ports throughout Indonesia.
Both these vessels were finally sold in 2007.

PT ASM recently repositioned its business by acquiring MV Chemtrans Christian, whose name
was later changed to MV Parna Berlian 2, as an ammonia tanker, one of only two Indonesian-
flagged ammonia tankers. operates in Indonesia. PT ASM has secured long-term contracts of
its business from now onwards, an extraordinary success, thanks to the synergy with strong
vision and well-organized planning by Parna Raya Group Management.

4. Parna Australia Pty. Ltd.

Parna Australia Pty. Ltd. is an affiliated company of Parna Raya Group which focuses on the
trading business and serves the Asia Pacific region.
First business Parna Australia Pty. Ltd. is exporting high-grade solar salt produced in Shark Bay,
Western Australia - one of the first salt fields to be established in the area. Salt is exported to
PT. Garam Persero, a state-owned company located in Surabaya, East Java. The company's
business has continued to grow and today, its customers include private and public companies,
including Asian Pulp and Paper, a subsidiary of the Sinar Mas Group, one of Indonesia's giant
conglomerates, of which Parna Australia Pty.Ltd. acting as agent for Shark Bay Salt Pty. Ltd.
which is 100% owned by Mitsui Corp.

5. Parna Artha Singapore Pte. Ltd

Parna Artha Singapore Pte. Ltd. was established as a subsidiary of the Parna Raya Group to
operate and manage the group's expanding trading business and is set to serve the Asia Pacific
region.

Currently, Parna Artha Singapore Pte. Ltd. trades approximately 100,000 tonnes of methanol
and ammonia annually to international buyers, including Thailand, Korea and Japan.

6. PT Kaltim Parna Industri

Realizing that the ammonia market continues to grow, while domestic supply is limited, PT
Parna Raya decided to establish a business in the petrochemical industry to produce ammonia.
The ammonia factory in the Kaltim Industrial Area in Bontang, East Kalimantan, was
inaugurated on July 4, 2002, following successful commercial production trials. On May 27,
2013, KPI became a domestic private company when the main shares of Mitsubishi
Corporation (Japan), Asahi Chemical (Japan), and Nippon Yusen Kaisha (NYK) were transferred
to PT Parna Raya as a 90% shareholder.

With the aim of becoming the most competitive ammonia plant in the world, KPI has a daily
production capacity of 1,500 tons of anhydrous ammonia (99.5% ammonia) or around
530,000 tons per year. Eighty percent of its production is exported to the countries of Australia,
India, Japan, Korea, Taiwan, Thailand and the Philippines, besides that it is also marketed
domestically, with PT Petrokimia Gresik as one of its regular customers.

Factory Location : Industrial Area PT Kaltim Industrial Estate Bontang, East Kalimantan,
Indonesia
Contractor : Mitsubishi Heavy Industries, LTD (Japan)
Process License : Haldor Topsoe A / S (Denmark)
Ammonia Tank Capacity : 40,000 MT (net)
Ammonia Jetty Capacity : 35,000 MT Ship
Factory area : 8 ± hectares

7. PT Sariarthamas Hotel International

In August 2007, PT Parna Raya expanded into the tourism industry by acquiring the shares of
Tokyu Corporation, Sojitz Corporation and PT Pembangunan Semesta Consulting in PT
Sarinitokyu Hotel International (PT SHI), owner of Hotel Sari Pan Pacific, Jl. MH. Thamrin 6,
Jakarta. With this acquisition, PT Sarinitokyu Hotel International then changed its name to PT
Sariarthamas Hotel International (PT SHI) in October 2007.
8. PT Sistima Darat Gas Nusantara
PT Sistima Arus Gas Nusantara (SAGN), which is also part of the Parna Raya Group, was
established in 2000 for the laying of a gas pipeline distribution system, from KM 53 in Bontang
to the Kaltim Industrial Estate (KIE). SAGN began transporting gas in 2001, supplying various
petrochemical plants at KIE, including ammonia, urea fertilizer and methanol plants. The gas
distribution pipeline is designed to distribute up to 400 MMSCFD of gas volume.

In collaboration with a well-known gas company, PT. Pertamina Gas, SAGN will manage gas
distribution in Bontang for the next 20 years. Given the high demand and supply of natural
gas, SAGN is optimistic to become one of the largest gas transportation companies in
Indonesia.

9. PT Isma Asia Indotama

After being successful in building and operating a gas pipeline distribution system in Bontang,
East Kalimantan, the shareholders of PT SAGN were trusted by PT Pertamina to transport
natural gas in the MM2100 Industrial Area. The area is an industrial center for foreign
investors to develop high-tech industries. By placing a gas pipeline distribution system,
covering an area of approximately 10 km, with a 10 inch diameter pipe, designed to transport
10 MMSCFD of gas volume, PT Isma Asia Indotama is actively involved in supporting the
growth of the Indonesian industrial sector.

10. PT Surya Parna Niaga

PT Surya Parna Niaga (SPN) is a subsidiary of Parna Raya, which operates in the trading
business of petroleum products such as high speed diesel (HSD), fuel oil, industrial oil, Ron 92
gasoline and Ron 95 gasoline. for the Indonesian market. In order to increase the existence of
the company, PT SPN participates in the distribution of special commodity oil in the
Indonesian domestic market. The company supplies petroleum products to various market
segments such as the power generation industry, transportation companies, mining industry,
and others.

Gas, focus on the Gasoil Fuel trade, including currently developing MFO, Bitumen, LPG,
Methanol, Urea or Other Fertilizers and Agro Industry Products to be traded in Indonesia and
the whole world.

11. PT Parna Mas Energi

PT Parna Mas Energi established a subsidiary, namely PT Menara Mas Energi in collaboration
with PT Kresindo Eratek Dinamika (which is owned by the Energi Mining Foundation). PT Parna
Mas Energi's activities include developing the Pondok Tengah LPG Plant and acquiring/selling
natural gas (using pipeline distribution) and kerosene, diesel oil and MFO (using
transportation facilities, including tanker trucks, ships, barges).

The LPG plant in Pondok Tengah is being built by PT Parna Mas Energi through PT Menara Mas
Energi, in collaboration with Pertagas in Babelan, Bekasi. A factory that is built, operates and
owns (BOO - built, operates, and owns) can supply up to 15 MMSCFD of gas, 100 tons of LPG
products per day, and 150 BBL of condensation / day.
12. PT Menara Mas Energi
The company's business activities include acquiring, selling and distributing natural gas from
contractors and traders to consumers. The company's planning stage includes LNG and CNG
projects.

The LNG project includes plans to develop a Mini LNG Plant, obtain gas from outside Java
Island and distribute gas to consumers using mini LNG tankers, LNG receiving terminals, LNG
trailers and LNG regasification units.

Simultaneously, the CNG Project is being prepared to use gas as CNG to meet needs where
there are no gas distribution pipelines, using CNG trucks.

13. PT Mitra Andalan Sejahtera

PT Mitra Andalan Sejahtera, an affiliate company of PT Parna Raya engaged in oil palm
plantations, which was established on December 21, 2006. This company has a license to
operate a plantation of 13,000 hectares in Pontianak, West Kalimantan.
On May 30, 2022, an MoU on the Ammonia Business was signed between PT Parna Raya, Namhae
Chemical Corp, and Posco International in Vienna, Austria.

The cooperation contained in this MOU will involve cooperation in Green Ammonia and Ammonia
Storage Development in Indonesia and in Korea, including Ammonia Total Logistics.

The signing of this MOU was represented by the President Director of Parna Raya, President Director
of Namhae Fine Chemicals and Deputy President Director of Posco Corporation.

In the future, the three companies also agreed to jointly discuss Green Ammonia using hydroelectric
power and new ESG projects to address the global low-carbon and climate crisis.

Namhae Chemical also consulted with potassium chloride suppliers in Israel and Canada, and
confirmed that it will supply 20,000 tons of the remaining amount in 2022 and 90,000 tons, or about
70% of the annual demand in 2023.

Thus, it is hoped to smoothly supply fertilizer products to the domestic and export fertilizer market
this year and next year.

Due to economic sanctions on Belarus, one of the largest exporters of potassium chloride, and the
Chinese government's export restrictions on urea fertilizer to protect its farmers, and the recent
Russia-Ukraine war, which has damaged global supply chains, the supply of raw materials for fertilizers
and their prices continues to rise

With this achievement under such circumstances, Namhae Chemical is stably engaged in the
production and supply of fertilizer products.
 PT Green Ammonia Indonesia, which is a
subsidiary of PT Kaltim Parna Industri (KPI),
has made a commitment to enter the Green
Industrial Area in North Kalimantan to build
green ammonia .

Hari Supriyadi, Main Director of Green

Ammonia Indonesia, explained that the
development of green ammonia will no
longer use natural gas but water.
“By changing to water, the carbon emissions
will be zero. So far, the source has been
natural gas which is a fossil energy,

so if you replace it with water, there will be no carbon footprint ," he explained when met at the
Fairmont Hotel Jakarta, Thursday (6/10).
Hari explained, currently the development of green ammonia in the world has not been proven on an
industrial scale. So far, his party has completed feasibility studies (FS) and market sounding.

It is planned that in 2023 his party will carry out land preparation which will run parallel to the
construction work. It is projected that the construction of this factory will be completed in 2026 in
conjunction with the completion of the PT Kayan Hydro Energy Hydroelectric Power Plant (PLTA) of 9
GW which will electrify the Green Industrial Area.

The investment in building a green ammonia factory will be carried out in stages. In the first phase,
his party will pour out funds worth US$ 300 million or Rp. 4.56 trillion (Assuming an exchange rate of
Rp. 15,200). Through this investment, Green Ammonia Indonesia will build a factory with a capacity
of 300,000 tons per year