DATED 12 June 2021

AM COMPANY

As the Lender

AND

PT. MAJU MUNDUR

as the Borrower

LOAN AGREEMENT
THIS LOAN AGREEMENT (“agreement”) is entered into on 12 June 2021.
BETWEEN:

1. AM COMPANY, a company duly established under the laws of the People ’s Republic of China
and having its domicile at Shanghai ("Lender"); and
2. PT Maju Mundur, a limited liability company duly established under the laws of the Republic
of Indonesia and having its domicile at Jakarta (“Borrower");

(The Borrower and the Lender are hereinafter individually referred to as the "Party" and
collectively as the "Parties")

WHEREAS:

A. The Borrower requires fund to purchase__________ (________ ) shares which

constitute 70% (seventy percent) of the total issued and paid up shares of PT Maju
Mundur, a limited liability company duly established under the laws of the Republic of
Indonesia (Shares") ("Company") ("Investment).

B. The Borrower has asked the Lender to give the Borrower the necessary funds in
advance to enable the Borrower to fund the investment, and the borrower has agreed to
provide security for such loan.

C. The Lender has agreed to lend the Borrower the sum of Rp. 1.000.000.000 (Satu Miliar
Rupiah) to pay for the Investment of the Shares subject to the terms and conditions set
out in this Agreement and the Borrower has agreed to accept the loan on the terms and
conditions Agreement contained n this
NOW THEREFORE, the Parties have agreed to enter into this Agreement on the following terms
and conditions:

ARTICLE 1 PRINCIPAL LOAN

1.1. The Borrower hereby acknowledges receipt of a loan from the Lender in the sum of Rp.
1.000.000.000 (Satu Miliar Rupiah) (“Principal Amount"), which sun will be used by
the Lender to find the Investment for the Shares, The Borrower may not use the han for
any other purpose
1.2. The Borrower acknowledges and agrees that the financial records kept by the Leader in
rektion to the ban including the balance of the Principal Amount and Increst (as defined
bekiw) outstanding from time to time. shall constitue conclusive and hinding evidence of
such amount outstanding and shall not be disputed by the Borrower at any time.

ARTICLE 2 INTEREST

2.1. Subject to Article 2.2, the Borrower agrees to pay interest to the Lender ("Interest"),
commencing from the date hereof on the balance of the Principal Amount outstanding
from time to time until the Principal Amount is repaid in full at the rate of 2% per
annum (each year an interest period) on the Principal Amount, which in any event shall
be payable only up to and on the Repayment Date.

2.2. The Lender may, by notice in writing given to the Borrower from time to time, advise
the Borrower that Interest calculated in accordance with Article 2.1 has become due and
payable. The notice shall specify the amount of Interest due and payable in accordance
with Article 2.1 and the date upon which payment of the Interest falls

2.3. No Interest shall become due and payable by the Borrower to the Lender, nor shill the
Borrower be entaled to make any provision in Es books of account for such Interest,
until the Lender has given notice of such Interest to the Borrower in accordance with
Article 2.2.
2.4. Any annunt which becomes due and payable by the Borrower in accordance with this
Agreement (the "Outstanding Amount") and is not paid to the Lender on or before the
due date for payment shall bear interest (Penalty Interest) at 1% (one percent) per
annum, from the date on which payment falls due until the date on which payment is
made in full by the Borrower to the Lender, provided however no Penalty Interest will
accrue on the Outstanding Amount until such time the Shares are sold by the Borrower
pursuant to Articles 9.1(b) or shareholders (c) of that certain agreement dated 17 June
2021 by and between the Lender and the Borrower (the “Shareholders Agreement").

ARTICLE 3 REPAYMENT OF PRINCIPAL AND INTEREST

3.1. A. Repayment of the Principal Amount together with all Interest and Penalty Interest
(if any) shall be made by the Borrower to the Lender in a single kump sum within 7
(seven) working days after the date of a written demand from the Lender to the
Borrower for repayment which demand shall be made on the date falling 3 calendar
years after the date of this Agreement (the "Repayment Date", unless mutually
extended in writing between the Parties). Unless the Borrower gives a notice in
writing to Lender at any time within a period of 30 days from the date falling on 27
months from the date of this Agreement to exercise its Put Option this Agreement
(and the Repayment Date) shall be automlically extended until the date falling 6
calendar years after the date of this Agreement.

B. The Parties hereby expressly acknowledge that the Principal Amount is in the nature
of a deferred repayment ban and shall not be unilaterally repaid by the Borrower
prior to demand by Lender in accordance with this Article, unless the Parties
otherwise mutually agree in writing. The Lender and Borrower hereby ime vocably
agree the transfer of all of the Borrower's Shares (whether by way enforcement of
the security interest in the Borrower's Shares under the relevant Security Documents
or otherwise) to the Lender or to any third party nominated in writing by the Lender
to acquire the Shares or the Lender's receipt of the sales proceeds of the Shares
from the Borrower (or any other third party) due to a sake of the Shares effected
under Articles 9.1 and 9.2 of the Sharehoklets Agreement and a certain call option
 agreement dated 17 June 2021 by and between the Lender and the Borrower shall
be considered as a full repayment of the Principal amount.

3.2. If the Borrower fails to transfer the Shares or complete the payments in accordance with
Article 3.1, the Lender may, in its absolute discretion and without prejudice to all other
rights and remedies available to it pursuant to this Agreement or any of the security
documents referred to in Article 4.1 ("Security Documents"), demand immediate
repayment of the Principal Amount including the Interest and Penalty Interest (any) by
the Borrower in the Indonesian Rupiah (or any other currency as the Lender in absolute
discretion nominate), free and clear of any deductions levies and fees ("Deductions"),
except for withholding tax deductions as required under the prevailing Indonesian tax
laws attributable to the Lenders

3.3. All payments to be made by the Borrower shall be paid in full without Deduction of any
kind, to such bank and bank account as the Lender shall from time to time designate in
writing or by facsimile and any reasonable and documented fees and expenses shall be
rembursed by the Lender. Any bank charges by whatever name incurred with respect to
such payments shall be borne by the Lender. To the extent withholding tax is payable
by the Lender to the Indonesian tax office relating to the Interest or Penalty Interest (if
any) such amounts shall be deducted from the payment made by the Borrower to the
Lender in the mmer as determined pursuant to the applicable Indonesian tax laws and
regulations so that the Borrower can make relevant payment of the withholding tax and
the Borrower shall present sufficient evidence of such withhokling tax payment to the
Lender.

ARTICLE 4 SECURITY DOCUMENTS

4.1. In order to secure the due and punctual repayment of the Principal Amount. "Interest
and Penalty Interest (if any) from time to time owed by Borower hereunder, or under
the Security Documents (as defined below), from time to time outstanding
(“Indebtedness”) and the performance of its obligations hereunder and under the
Security Documents. Borrower agrees to pledge the Shares to Lender and to execute
such other documents as reasonably requested by Lender for purposes of security. For
 this purpose Borrower shall execute and deliver to Lender the following agreements and
documents which shall be in form and substance satisfactory to the Lender (“Security
Documents”) :

a. Pledge of Shares Agreement in favor of the Lender with respect to the Shares, in
the form required by the Lender; and

b. Such other documents as Lender may from time to time request to perfect is
security interest as granted under any of the Security Documents.

4.2. Each of the Security Documents shall constitute an integral and inseparable part of this
Agreement and shall not be terminated or canceled by whatsoever reason, including
without limitation the occurrence of any event mentioned in Article 1813, 1814 or 1816
of the Indonesian Civil Code, until the Indebtedness has been paid in full. The Lender
shall be entitled to apply any amount received as a result of the exercise of its rights
pursuant to the Security Documents against the obligations of the Borrower hereunder
or any other obligations to the Lender in whatever order or priority lender in its absolute
discretion shall determine.

ARTICLE 5 REPRESENTATIONS AND WARRANTIES

The Borrower hereby represent and warrants to the Lender as follows :

a. it has full legal right, power and authority to enter into this Agreement and the Security
Documents and to perform its obligations under this Agreement and under the Security
Documents;

b. it is a company duly established and validly existing under the laws of Indonesia, and
has all requisite corporate power and authority to enter into this Agreement and the
Security Documents and to perform its obligations under this Agreement and under the
Security Documents;
 c. it fully complies with all laws and regulations (including rules, decrees and policies) of
any government authority in Indonesia;

d. it is solvent and is not a party to any litigation, arbitration or prosecutions or to any

other legal or contractual proceedings or hearings (including bankruptcy or winding up
proceedings) before any court or government authority:

e. this Agreement is and each other document or agreement referred to here in to be

made and performed by the Borrower pursuant to the terms of this Agreement when
executed and delivered will be the legal, valid and binding obligations of the Borrower
enforceable against the Borrower in all respects in accordance with its respective terms
and conditions; and

f. there has not occurred. and the execution. delivery and performance of this Agreement
or the Security Documents or any other agreement or instrument contemplated herein
will not cause the occurrence of any event of default or event which with the giving of
notice or lapse of time or both would constitute an event of default under any
agreement to which the Borrower is a party or by which is property is bound.

ARTICLE 6 COVENANTS

So long as the Principal Amount has not been fully repaid or the Borrower has any
obligation here under or under any of the Security Documents or any document or instrument
referred to in any of such agreements, unless the Lender las otherwise agreed in writing the
Borrower shall:

a. deliver the share certificates or collective certificates evidencing the Shares to the
Lender to hold pursuant to the Pledge Agreement;
b. not sell, transfer or assign the Shares, nor permit or grant any security interest (any
mortgage, charge, bill of sale, pledge, deposit, encumbrance, lien, hypothecat io n.
arrangement for the retention of title, and any other right, interest, power or
arrangement of any nature having the purpose or effect of providing security for, or
otherwise protecting against default in respect of the obligations of any person including
 without limitation a registered irrevocable power of attomey in favor of a mortgagee) or
third party interest (any security interest. option. voting arrangement. easement.
restrictive covenant. notation lease. interest under any agreement interest under any
trust. or other right equity. entitlement or other third party interest of any nature), nor
assign any dividends or other rights with respect to the Shares, nor execute any power
of attorney to do any of the foregoing. except in favor of the Lender;

c. not vote for any changes in the Company's authorized capital and/or any issuance of
additional shares of the Company, and

d. comply with all laws and regulations applicable to the Borrower which relate to the
performance of its
obligations under this Agreement and under the Security Documents.

ARTICLE 7 EVENTS OF DEFAULT

Upon the occurrence of any of the following events (each of such events being hereinafter
individually referred to as an Event of Default"):

a. failure by the Borrower to perform any of his obligations hereunder or under any of the
Security Documents or the taking of any action by the Borrower that in Lender's
reasonable opinion materially jeopardizes, or infringes upon, Lender's rights under any
of the Security Documents ovided that the Parties hereby agree that non-payment of the
Principal Amount together with all Interest and Penalty Interest (if any) until such time
the Shares are sold by the Borrower pursuant to Articles 9.1(b) or (c) of the
Shareholders Agreement shall not constitute an event of default for the purpose of this
Agreement;

b. any of the representations or warranties contained herein or in any of the Security

Documents or in any other agreement between the Lender and the Borrower, or in any
certificate required to be provided under this Agreement and under the Security
Documents shall be or be shown to be untrue, inaccurate or misleading in any material
manner;
 c. a finding by any court or other government agency that any of the Security Documents
is null and void or otherwise unenforceable, and Borrower fail to promptly execute an
amendment to such Security Document or execute such other agreements or documents
in subsitution there of as the Lender may reasonably request as a consequence of the
above finding;
d. The Borrower becomes bankrupt or insolvent (as the case may be), or admits in writing
its inability to pay its debts as they mature;
e. The Borrower applies for, consents to, or acquiesces in the appointment of a trustee,
receiver or other person nominated by accreditor to manage any of its property or
bussines, or in the absence of any such application, consent, or acquiescence a trustee,
receiver or other person is appointed to manage any of his property or bussines;
f. The Borrower or The Company otherwise commits an act of bankruptcy, or any
bankruptcy, debt arrangement, or other proceeding under any bankruptcy or insolvency
law, or any proceeding is instituted, is consented to or acquiescedin by it or remains
undismissed for more than thirty (30) days; or

Then if capable of remedy and the Borrower has not remedied such defaults within 30
(thirty) days after receipt of written notice from the Lender, any such events set forth in clauses
(a) to (f) shall constitute an Event of De faut. Upon the occurrence of an Evert of De faut, the
Lender shall be entitled by notice in writing to the Borrower to dechre that the Principal Amount
accrued Interest and accrued Penalty Interest is immediately due and payable without further
written demand or notice of any kind and the Lender shall be entitled to take whatever action
deems necessary pursuant to this Agreement or any of the Security Documents or in
accordance with applicable laws and regulations, to secure the repayment of the Principal
Amount, accrued Interest and accrued Penalty Interest.

ARTICLE 8 CHOICE OF LAW

(a)The substantive laws of the Republic Indonesia govern all matters arising out of or relating to this
Agreement.
(b)The Agreement is constituted and interpreted in occordance with the substantive laws of the
Republic of Indonesia.
CHOICE OF JURISDICTION
The parties irrevocably and unconditionally shall submit to the exclusive jurisdiction of the courts of the
Republic of Indonesia.

ARTICLE 9 LANGUAGE
(a)The Agreement is signed in two (2) originals in Indonesia and English language, which both of them
shall be regarded as the authorative and official text.
(b)In the event of any inconsistency, the version of English language shall apply and be bidding upon of
the Parties.
(c)The English language shall be the official language for all matters referred to arbitration.

ARTICLE 10 FORCE MAJEURE

Definition
A party will not be liable for any failure of or delay in the performance of this agreement for the period
that such failure or delay is
(a)beyond the reasonable control of a party,
(b)materially affects the performance of any of its obligations under this agreement, and
(c)could not reasonably have been foreseen or provided against, but
(d)will not be excused for failure or delay resulting from only general economic conditions or other
general market effects.
Consequences of Force Mejeure Event
(a)Neither party hereto shall be under any liability to the other party in any way whatsoever for failure
to perform any term herein due to any cause arising out ofwar, rebellion, civil commotion, strike, lock-
outs and industrial disputes, fire, explosion, earthquake, Act of God, flood, drought or the requisitioning
or other act by any government department, council or other constitutedbody.
(b)If either party is unable to perform as a direct result of the effect of any of the foregoing reasons, that
party shall forthwith give written notice to the other of the inability which sets out full detail of the
reason in question. The operation of this Agreement shall be suspended during the period (and only
during the period) in which the reason continues. Forthwith upon the reason ceasing to exist the party
relying on it shall give written notice to the other of this fact. If the reason continues for a period of
more than fourteen (14) days and substantially affect the commercial intention of this Agreement, the
party not claiming relief under this clause shall have the right to terminate this Agreement upon giving
thirty (30) days written notice to the other party.

ARTICLE 11 OBLIGATION OF TERMINATION

Termination of this Agreement, with respect to any and all the Parties, shall be without prejudice to any
rights accrued prior to that termination and any provision which is expressly stated not to be affected
by, or to continue after, such termination.

ARTICLE 12 SEVERABILITY
If any provisions of this Agreement are deemed to be unenforceable, invalid, or against any law or public
policy for any reason, the remainder of this Agreement will and shall not be affected thereby and shall
remain valid in full force and effect to the extent permitted by law.

ARTICLE 14 NOTICE
The Parties agree that any correspondence and notices in relation to this Agreement shall be made in
writings via application message, SMS and other way, including but not limited as follows. The Lenders
appoint the Company to send and receive message directly.

ARTICLE 15 INTEGRATION
This Agreement, the Employment Agreement, and the Employee Invention Assignment and
Confidentiality Agreement contain the entire agreement of the parties with regard to the matters
referenced herein and supersede any prior agreements as to such matters. This Agreement may not be
changed or modified, in whole or in part, except by an instrument in writing signed by the Executive and
the Chief Executive Officer of the Company. The Indemnification Agreement between the Company and
the Executive shall not be affected by the existence of this Agreement, including this Section 20 hereof,
and shall remain in full force and effect.

ARTICLE 16 AMENDMENT
Modification and/or amendment to this Agreement may be done to accommodate anything that has not
been regulated or sufficiently set out in this Agreement, provided that such modification and/or
amendment is agreed in writing by the Parties.

Borrower/Penerima Pinjaman,
PT. MAJU MUNDUR

______________________________

[ Adi]
Executive Officer

Proxy of Lender/Kuasa Para Pemberi Pinjaman,

AM COMPANY

______________
Alfar