INVESTMENT COOPERATION AGREEMENT

On the day Sunday , date Five month December year Two Thousand two twenty two ( 05 – 12
–2022 ), signed below:

1. Name : MR . CHRISTOPH HERMANN RAVENSTEIN

No. Passport : C5N6TVC5X
Company : RAVENFINANCE GMBH
Position : -
Address : ALTE BAHNHOFSTRASSE 10, 36381 SCHLUECHTERN, GERMANY

Hereinafter referred to as the FIRST PARTY.

2. Name : GUSTI BAGUS KURNIA YUDISTIRA, SE., MM

NIK : 5108062106680005
Company : MANUNGGAL BUSINESS PARTNERS BALI
Position : Director
Address : BR Dinas Dharma Kerti RT.00 RW.00 Kel . Tukad Maybe district _
Buleleng Kab . Buleleng Province. Bali

Hereinafter referred to as the SECOND PARTY.

That before signing this Agreement, the parties first explained the following matters:

1. Whereas the FIRST PARTY is an INVESTOR who has a capital of $500,000,000 or

worth Rp . 7,714,000,000,000 ,- ( seven trillion seven hundred four mercy billion rupiah )
hereinafter referred to as INVESTMENT CAPITAL for the JEMBRANA BALI LAND
ACQUISITION AND DEVELOPMENT AREA project.
2. Whereas the SECOND PARTY is an Investment Fund Manager in the PROPERTY
INVESTMENT TRUST sector located at JEMBRANA BALI which received INVESTMENT
FUNDS from the FIRST PARTY .
3. Whereas the FIRST PARTY and THE SECOND PARTY agreed to bind themselves in an
Investment cooperation agreement in Increasing Investment Capital in LAND
ACQUISITION AND DEVELOPMENT OF THE JEMBRANA BALI AREA. located at
JEMBRANA BALI , in accordance with applicable legal provisions .
4. Whereas based on the matters mentioned above, both parties agree and agree to enter into
this Cooperation Agreement which is carried out with the terms and conditions as follows:

ARTICLE I
PURPOSE AND OBJECTIVES

THE FIRST PARTY in this agreement provides INVESTMENT FUNDS to the SECOND PARTY
in the amount of $ 500,000,000 or worth Rp . 7,714,000,000,000 ,- ( seven trillion seven
hundred four mercy billion ruupiah ) and the SECOND PARTY has hereby accepted the handover
of the INVESTMENT FUNDS from the FIRST PARTY and agreed to carry out the management
of the INVESTMENT FUNDS .

pg. 1 Initials I : Initials II:

 ARTICLE II
SCOPE

1. In implementing this agreement, the First Party provides INVESTMENT FUNDS to the
SECOND PARTY in the amount of $ 500,000,000 or worth Rp . 7,714,000,000,000
,- ( seven trillion seven hundred four mercy billion rupiah ) and the SECOND PARTY hereby
has accepted the handover of the INVESTMENT FUNDS from the FIRST PARTY and
agrees to carry out the management of the INVESTMENT FUNDS .
2. THE SECOND PARTY hereby undertakes and binds itself to carry out the circulation of
INVESTMENT FUNDS in the Efforts to Increase Investment Capital in the PROPERTY
INVESTMENT TRUST / JEMBRANA BALI DEVELOPMENT AREA located at
JEMBRANA BALI after the signing of this agreement.
3. THE FIRST PARTY hereby promises and binds itself to provide a profit of 25 % ( two fifty
five percent) or Rp. 1,928,500,000,000 , - ( one trillion nine hundred and two twenty
eight billion five hundred million rupiah ) in a period of 1 0 ( ten ) year .
4. SECOND PARTY with this promised with tie self for return INVESTMENT FUNDS to the
FIRST PARTY of 100% ( one hundred percent ) or worth Rp . 7,714,000,000,000 ,- (
seven trillion seven hundred four mercy billion rupiah ) in period 10 ( ten ) years .

ARTICLE III
TERM OF COOPERATION

1. This cooperation agreement is made and accepted for a period of 10 ( ten ) years ,
commencing from date …. December 2022 with the following maturity periods: Rp .
7,714,000,000,000 ,- ( seven trillion seven hundred four mercy billion rupiah ) on …
December 2032 in full without deductions (100%) and can be extended with the approval
of the PARTIES for the same period of time.

2. The term of the agreement ends when the FIRST PARTY wants the INVESTMENT FUNDS
to be requested back in its entirety, provided that the INVESTMENT FUNDS has been 10 (
ten ) years since this agreement was signed and the FIRST PARTY gives notification to
request the return of the INVESTMENT FUNDS no later than 1 (one) week before
submission returned by the SECOND PARTY , then the SECOND PARTY will return the
INVESTMENT FUNDS to the FIRST PARTY in the amount of capital with profit sharing in
accordance with Article II Paragraph 3.

ARTICLE IV
RIGHTS AND OBLIGATIONS OF THE FIRST PARTY

In this Cooperation Agreement, the FIRST PARTY has the following rights and obligations:
1. Provide INVESTMENT FUNDS to the SECOND PARTY in the amount of $500,000,000
or worth Rp . 7,714,000,000,000 ,- ( seven trillion seven hundred four mercy billion rupiah
)
2. right to request the return of the INVESTMENT FUNDS that have been submitted to the
SECOND PARTY with the provisions based on Article III Paragraph 2.
3. Receiving profits from the management of INVESTMENT FUNDS , in accordance with Article
VI of this agreement.

pg. 2 Initials I : Initials II:

 ARTICLE V
RIGHTS AND OBLIGATIONS OF THE SECOND PARTY

In this Capital Investment Cooperation Agreement, the SECOND PARTY has the following rights
and obligations:
1. Receiving INVESTMENT FUNDS from the First Party of $500,000,000 or worth Rp .
7,714,000,000,000 ,- ( seven trillion seven hundred four mercy billion rupiah )
2. Provide a share of the profits to the FIRST PARTY , in accordance with Article VI of this
agreement.

ARTICLE VI
SHARING RESULTS

In this Capital Investment Cooperation Agreement, THE PARTIES agree in terms of the
distribution of the results of investment in the participation of funds as follows:
1. THE PARTIES agree and agree that this cooperation agreement is carried out by means of
providing benefits obtained in the Efforts to Increase Investment Capital in the
DEVELOPMENT OF THE JEMBRANA BALI AREA located in JEMBRANA BALI as referred
to in Article II paragraph 3 of this agreement.
2. The profit sharing referred to in paragraph 1 above is carried out taking into account the
investment costs as referred to in Article II paragraph 1.
3. The profit sharing referred to in paragraph 2 above is valid until the FIRST PARTY withdraws
the INVESTMENT FUNDS that have been submitted in accordance with the calculations of
Article II paragraph 3 of this agreement.

ARTICLE VII
FORCING CIRCUMSTANCES (FORCE MAJEUR)

1. What is included in Force Majeure is the result of events beyond the power and will of both
parties including but not limited to natural disasters, floods, storms, typhoons, earthquakes,
fires, wars, riots, rebellions, demonstrations, strikes, failures investation.
2. If the implementation of this agreement is hampered or delayed either in whole or in part
due to the matters mentioned in paragraph 1 above, then the Second Party is willing to
replace the Investment Funds from the First Party in full if there is no profit sharing, or the
return of Investment Funds reduced by profit sharing that has been received by the First
Party.
3. Return of Investment Funds as referred to in paragraph 2, regarding the procedure for
returning it, a deliberation will be held beforehand between the First Party and the Second
Party regarding the process or timeframe for returning it.

ARTICLE VIII
BREACH

1. In the event that one of the parties has violated the obligations stated in one of the Articles
of this agreement, there is sufficient evidence and without further proof, that the party in
violation has committed an act of default.
2. The party who feels harmed by the default in paragraph 1 above has the right to ask for
compensation from the party who made the default for a number of losses he suffered, except
in the event that the loss was caused by a forceful circumstance, as stated in Article VII.

pg. 3 Initials I : Initials II:

 ARTICLE IX
DISPUTE

If in the implementation of this Cooperation agreement there is a dispute between the two parties
either in its implementation or in the interpretation of one of the Articles in this agreement, then
both parties agree to resolve the dispute as much as possible by way of deliberation. If
deliberations have been carried out by both parties, but it turns out that they have not succeeded
in reaching a consensus, the Parties agree that all disputes arising from this agreement will be
resolved at the Registrar's Office of the Central Jakarta District Court.

ARTICLE X
CLOSING RULES

Matters that have not been regulated or not sufficiently regulated in this agreement if needed and
deemed necessary in the future will be determined separately by deliberation and will then be
determined in an ADDENDUM which is binding on both parties, which will be attached and form
an inseparable part of This agreement.

Thus this cooperation agreement is made in 2 (two) copies, for each party, which is signed on
sufficiently stamped paper, each of which has the same legal force and is valid since it was signed.

Sunday, 05 December 2022

FIRST PARTY SECOND PARTY

(INVESTOR) (INVESTMENT FUND MANAGER)
RAVENFINANCE GMBH MITRA USAHA MANUNGGAL BALI

Mr. CHRISTOPH HERMANN RAVENSTEIN GBK YUDISTIRA, SE., MM

Director

This Partnership agreement or finance cooperation pay order agreement (next, referenced to, as
that Agreement, is enter on December , 2022 , by and between that follow The parties:

pg. 4 Initials I : Initials II:

INVESTORS or PARTY "A"
SENDER INFORMATION:

COMPANYNAME RAVENFINANCE GMBH

COMPANY ADDRESS ALTE BAHNHOFSTRASSE 10, 36381 SCHLUECHTERN, GERMANY
REPRESENTED BY . Mr. CHRISTOPH HERMANN RAVENSTEIN
PASSPORT NO. C5N6TVC5X
PLACE OF ISSUE GERMANY
DATE OF ISSUES 18.12.2019
DATE OF EXPIRY 17.12.2025
BANK NAME DEUTSCHE BANK AG
B ANK ADDRESS: OTTO SUHR ALLEE 6-16, 10883 BERLIN, GERMANY
SWIFT CODE DEUTDEBBXXX
ACCOUNTNAME RAVENFINANCE GMBH
ACCOUNT NUMBER 0057105900
IBAN (EURO) DE80100700000057105900
SWIFT CODE DEUTDEBBXXX
(Next referenced to as that "First party"):

PARTY-B / RECEIVER
COMPANY NAME: MANUNGGAL BUSINESS PARTNERS BALI
COMPANY ADDRESS: Jl. Raya Lovina Singaraja Kbuanyar Lestari, Dsn . Dharma Kerti , Ds.
Tukadmungga district _ Buleleng Buleleng Regency Prov. Bali
COMPANY REG. № /DATE: 14/AN.01/209/PN.SGR, Registrar Office of the Singaraja District
Court 10-03-2009 _
REPRESENTED BY: GBK YUDISTIRA, SE., MM
TITLE: DIRECTOR
PASSPORT COUNTRY: INDONESIA
PASSPORT № :
date OF ISSUES:
date OF EXPIRY:
date OF BIRTH:

BANK C OO RD I NA TEST OF T H E I N VESTEE TO R E C EIVE T H E F UND S :

B AN K NA ME PT. BANK BNI Persero Tbk
BANK ADDRESS Jl. Ngurah Rai No. 48, Banjar Jawa district _ Buleleng , Kab . Buleleng Bali
81113
SWIFT CODE BNINIDJAXXX
ACCOUNTS name GUSTI BAGUS KURNIA YUDISTIRA, SE.,MM
ACCOUNTS NUMBER 1491337549 - IDR
BANK OFFICER name
BANK OFFICER E-MAIL
BANK OFFICER TEL

pg. 5 Initials I : Initials II:

 SENDER'S PASSPORT COPY:

pg. 6 Initials I : Initials II:

 ENDER'S CERTIFICATE OF INCORPORATION :

pg. 7 Initials I : Initials II:

 PASSPORT COPY – PARTY B

pg. 8 Initials I : Initials II:

 CORPORATE LICENSED
FORM 8 CERTIFICATE _ OF INCORPORATION

pg. 9 Initials I : Initials II: