PT.

MARSH INDONESIA
Sentral Senayan II, 15th Flr
Jl. Asia Afrika No. 8
Jakarta, Indonesia 10270
+62 21 579 00110
+62 21 579 00120

QUOTATION SLIP
To : From :
PT Logistic One Solution patricia.sitompul@marsh.com Phone :
Grand Slipi Tower 16floor Suite 16F, Wisnu.Dasuki@marsh.com Phone : +62 21 5797 8177
Jl. S. Parman Kav. 22-24 Fax : +62 21 5790 0120
Jakarta Barat
Attention : Ms. Nita / Ms. Lany A.S. Our Ref : Patricia Sitompul / Wisnu Dasuki

Reference No. : MCF/201805/004/001

We attach below the quotation received from Insurers that is based on the underwriting information supplied to them on your
behalf for your consideration. Please review the quotation and if you wish to proceed with the cover kindly sign and return the
acceptance of the terms set out in the quotation slip, along with the required supporting documentation. Please check the details
shown to ensure their accuracy and advise us immediately of any changes necessary. All decisions regarding the amount, type
or terms of coverage shall be your sole responsibility. While Marsh may provide advice and recommendations, you must decide
on the specific coverage that is appropriate for your particular circumstances and financial position.

Please note that no cover is to attach until you are formally instructed us to do so.

DISCLAIMER
To the best of our knowledge, the information supplied in this document is accurate. Marsh accepts no liability for any loss
arising out of your reliance on information which has been supplied to Marsh by or on behalf of Marsh's clients.

CLASS OF INSURANCE Marine Cargo

FORM MAR 91

INSURED PT Logistic One Solution

and/or PT Thiess Contractors Indonesia and/or Subsidiary and/or Affiliated and/or Associated
companies and/or Corporations as now exist or may hereinafter be constituted or acquired
including their interests as may appear in partnerships or joint ventures for their respective
rights and interests; and in addition, Financial Institutions which hold or may hold vested
interest in the interest insured, for their respective rights and interests.

INSURED BUSINESS Principally but not limited to Freight Forwarders, Transportation and Logistic Services and/or
all other activities related thereto or in which the Insured may be or become engaged. And/or
all other activities related thereto or in which the Insured may be or become engaged.

PERIOD OF INSURANCE 08/05/2018 ~ 08/08/2018 (dd/mm/yyyy)

Estimated Time Departure (ETD): 8 May 2018

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INSURER PT QBE General Insurance Indonesia

INTEREST INSURED On 5 unit CAT D8R dengan nomor unit :

1. DZ8007
2. DZ8008
3. DZ8043
4. DZ8044
5. DZ8045

Total Value: IDR 5,925,423,480 / unit

CONVEYANCES Vessels and/or barges and/or air and/or road and/or rail and/or any other conveyances by
land, sea, or air, and connections.

Notwithstanding the clauses contained therein, it is agreed that:

i) BKI and TG classed vessels are regarded as Qualifying Vessels for trading within ASEAN
region

ii) Non Qualifying vessels are automatically covered on policy conditions at additional
premiums to be agreed

iii) The age limitation for Bulk or Combination carriers or other vessels is increased to 25
years

iv) Tug/Barge subject to single towmaximum 20 years of age, min. 100 GRT.

v) Excluding wooden vessels.

vi) Ferries and/or LCTs (maximum 20 years and minimum 500 GRT) that are used to cross
Java island to Kalimantan island.

vii) MM Sejati (General Cargo & Roro / BKI / 1989 / 9,935 GRT) is regarded as qualifying
vessel.

VOYAGES From:
Trakindo Utama Cakung, Jakarta

To:
Site Kariangau, PT Thiess Contractors Indonesia

Subject to Sanction Limitation Exclusion Clause JC2010/014

BASIS OF VALUATION AND As declared, maximum Invoice Value + 10%

LOSS SETTLEMENT
SUM INSURED / DECLARED IDR 32,589,829,140 (including 10%) or the equivalent in other currencies.
VALUE
CONDITIONS 1. Institute Cargo Clauses (A) 1/1/09(cl.382)
2. Institute Cargo Clauses (Air Cargo) (excluding sendings by Post) 1/1/09(cl.387)
3. Institute War Clauses (Cargo) 1/1/09(cl.385)
4. Institute Strikes Clauses (Cargo) 1/1/09(cl.386)
5. Institute War Clauses (Air Cargo) (excluding sendings by Post) 1/1/09(cl.388)
6. Institute War Clauses (sendings by Post)1/1/09(cl.390)
7. Institute Strikes Clauses (Air Cargo)1/1/09(cl.389)
8. Institute Replacement Clause Cl 161 dated 1.1.34
9. Institute Radioactive Contamination, Chemical, Biological, Bio-Chemical and Electro

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Magnetic Weapons Exclusion Clause Cl 370 dated 10.11.03.

10. Alternative for any Commodity Risks the Commodity Trade Clauses and/or as agreed.
11. Termination of Transit (Terrorism) Clause (JC/056)
12. Cargo ISM Endorsement (J.C. 98/019)1.5.98
13. Cargo ISM Forwarding Charges Clause (JC2009/056)
14. Attachment and Termination Of Risk Clause
15. Deductible Clause as applicable
16. Seaworthiness Admitted
17. Second-hand Replacement Clause as applicable
18. Aircraft Clause
19. Bill of Lading Clause
20. Marine Extension Clause
21. Insolvency Clause
22. Goods purchased by assured on “CIF”, or similar terms
23. Goods purchased by assured on “FOB’, “C&F”, or similar terms
24. Sellers Interest in respect of shipments sold by the assured on “FOB”, C&F” or
similar Terms
25. Returned or Refused Shipments Clause
26. On Deck Shipments Clause
27. Containerised Cargo clause
28. Container Demurrage Charges
29. Concealed Damage Clause (60 days)
30. Missing Goods Clause
31. Deliberate Damage – Customs Service
32. Deliberate Damage – Pollution Hazard
33. Radioactive Contamination, Chemical, Biological, Bio-Chemical and Electro Magnetic
Weapons Exclusion Clause plus USA Endorsement amended.
34. Excluding Electrical, Electronic and Mechanical Derangement unless caused by an
insured peril.
35. General Average Clause
36. Insufficiency of Packing Clause
37. Brands Clause
38. Labels Clause
39. Replacements by Air Clause
40. Shipping expenses Clause
41. Sue & Labour Clause
42. Removal of Debris Clause
43. Wilful Misconduct Clause – beside Insured and its representatives
44. Payment on Account Clause
45. Important Clause
46. Survey Clause
47. Recovery Clause
48. Choice of Law and Jurisdiction - Indonesia
49. Sanction Limitation and Exclusion Clause.
50. Waiver of Subrogation against the Insured Name only
51. Excluding Rust, Oxidation, Discoloration, Scratch, Dent, Bend, Chipping, Breakage
unless caused by ICC C perils for second hand goods / unpacked goods.
52. Excluding pre-existing damage

CHOICE OF LAW English law and practice , where it does not contradict Indonesia law

RATE 0.09%

DEDUCTIBLE 0.25% of Insured Value any one conveyance any one accident

PREMIUM IDR 32,589,829,140 x 0.09% = IDR 29,330,846

Plus Policy Cost & Stamp Duty

SUBJECTIVITY Subject to survey by Independent Marine Surveyor (IMS) at the Insured's

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cost on loading, unloading, stowage, lashing and vessel's suitability for

shipment using Tug Boat, Barge and LCT.
Warranted no overload of the cargo
Typhoon Warranty
Attachment of QBE Mandatory Clause
No claim up to date of binding confirmation to QBE
This Quotation is valid until 8 May 2018.

UNDERWRITING INFORMATION • Pick up kargo di TU Cakung

• Self driven ke port tanjung priok --> Please clarify
• Loading unit dari port tanjung priok ke kapal MM Sejati
• Ocean freight Jakarta - Balikpapan
• Unloading unit dari kapal MM Sejati ke port Semayang
• Loading dan lashing unit ke atas lowboy
• Pengiriman melalui jalur darat 5 unit CAT D8R dengan menggunakan 5 unit lowboy ke Site
Kariangau, PT Thiess Contractors Indonesia
• Kargo tiba di Site Kariangau, PT Thiess Contractors Indonesia
• Unloading unit from trucking

In accordance with the ongoing commitment by Marsh to quality management philosophies, this document has been verified for
accuracy of content and does not require a signature.

PT. MARSH INDONESIA

08-May-2018

Patricia Sitompul
AVP

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ACCEPTANCE OF QUOTATION
FOR COMPLETION AND RETURN BY INSURED

We confirm acceptance of the coverage information, terms and conditions set out in your quotation slip. You are authorised to bind
cover on our behalf without changes except with our specific instructions as stated, if any, in the "NOTES" below.

CLASS OF INSURANCE Marine Cargo

INSURED PT Logistic One Solution

and/or PT Thiess Contractors Indonesia and/or Subsidiary and/or Affiliated and/or Associated
companies and/or Corporations as now exist or may hereinafter be constituted or acquired
including their interests as may appear in partnerships or joint ventures for their respective
rights and interests; and in addition, Financial Institutions which hold or may hold vested
interest in the interest insured, for their respective rights and interests.

INSURER PT QBE General Insurance Indonesia

PERIOD OF INSURANCE 08/05/2018 ~ 08/08/2018 (dd/mm/yyyy)

Estimated Time Departure (ETD): 8 May 2018

REFERENCE NO. Reference No. : MCF/201805/004/001

POLICY NUMBER

NOTES

Signature : Date :
Name : Title :

Signed for and On behalf of :

Return To :
PT. MARSH INDONESIA
Sentral Senayan II, 15th Flr
Jl. Asia Afrika No. 8
Jakarta, Indonesia 10270
+62 21 579 00110
+62 21 579 00120

Our Ref : Patricia Sitompul / Wisnu Dasuki

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Important Notices
1. Duty of Disclosure
For an insurer to decide to take a risk and then to make an informed assessment of the risk it faces under a contract of insurance,
(and hence calculate the premium it should charge) all relevant matters must be disclosed in the utmost good faith to it. The duty to
make full and frank disclosure rests upon the party seeking insurance cover (or renewal or variation of it) and not upon the broker who
acts on that party’s behalf.

YOUR DUTY OF DISCLOSURE

Before you enter into a contract of general insurance with an insurer, you have a duty to disclose to the insurer every matter that you
know, or could reasonably be expected to know is relevant to the insurer’s decision whether to accept the risk of the insurance and,
if so, on what terms.

You have the same duty to disclose those matters to the insurer before you renew, extend, vary or reinstate a contract of general
insurance.

Your duty however does not require disclosure of matter:

- that diminishes the risk to be undertaken by the insurer;

- that is of common knowledge;
- that your insurer knows, or in the ordinary course of his business, ought to know;
- as to which compliance with your duty is waived by the insurer

Non-disclosure
If you fail to comply with your Duty of Disclosure, the insurer may be entitled to reduce his liability under the contract in
respect of a claim or may cancel the contract.

If your non-disclosure is fraudulent, the insurer may also have the option of avoiding the contract from its beginning.

Comments
Your Duty of Disclosure must be taken seriously as it may affect your right to claim. This should be impressed upon all
management and senior staff.

The history of losses suffered and claims made by the party seeking insurance, or any person, firm or company closely associated
with that party, is obviously one of the principal matters to be disclosed. It is therefore imperative that you maintain an up-to-date
record of all such losses and claims.

Whilst we will maintain records of all losses reported to us during the term of our appointment as your Broker, we do not accept
responsibility for obtaining details of prior losses or for checking in any particular instance that you have made proper and complete
disclosure.

We recommend that you

- supply all management and senior staff with a copy of the Duty of Disclosure Notice (as stated above),
- emphasize to them that the Duty of Disclosure applies not only on inception of the insurance, but also when policies are altered or
renewed,
- point out to them that disclosure is most important in matters touching upon past claims cancellation of insurance covers, premium
penalties and any other matters which may influence the Insurer’s acceptance of the risk such as criminal convictions or insolvency
of previous companies, and
- have a system in place which ensures all relevant matters come to their attention.

If there is any doubt as to whether a matter is relevant, it should always be referred to us (Marsh) for comment.

2. Your insurer is regulated by Minister of Finance BAPEPAM LK and is required to comply with all Indonesian laws,regulations and
conditions of doing business, including solvency requirements. If you are interested in receiving more information about a particular
insurer or insurers ,including information about its financial strength and security, please contact your Marsh representative for further
guidance and information.

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3(a). Under Insurance (other than for Business Interruption Insurance)

Many policies contain a Co insurance (or Average) provision whereby you may be required to bear a rateable proportion of the

loss in the event that the sum insured is less than the value of the insured property at the commencement of the insurance.

A simple example, illustrating the basic principal, application and effect of the Average/Co-Insurance clause is as follows:

Full Value - $1,000,000. Sum Insured - $500,000. Therefore you would be self insured for 50% of the full value. Amount of claim - say
$100,000 Amount payable by Insurers as a result of the application of Average/C-Insurance - $50,000 (being 50% of the $100,000).

3(b). Business Interruption Policies

Some Policies contain an Average/Co-Insurance clause which is fully set out in the “Basis of Cover” or “Policy Specification” of the
Policy. For the types of cover most usually provided, the Average/Co-Insurance calculation is arrived at by applying the Rate of Gross
Profit, Revenue or Rentals (as applicable) to the Annual Turnover, Revenue of Rentals (as applicable). These factors being
appropriately adjusted for in the “Trend of Business” or “Other Circumstances” clause.

If you are in any doubt regarding this clause insofar as it applies to your Policy, please contact your Account Executive for
assistance.

4. Utmost Good Faith

Every contract of insurance is based on “utmost good faith” which requires each party (i.e. you and the insurer) to act towards the
other party in respect of any matter arising under the contract, with the utmost good faith. If you fail to do so you may prejudice any
claim.

5. Interest of Third Parties in Property Insurance

Your policy may not provide cover for any party other than the named Insured or anyone specifically referred to in the policy. Please
read your policy carefully, and if you intend to insure the interest of any other parties, such as lenders, principals etc, you must
request this.

6. Rights of Subrogation - Hold Harmless - Waiver

Most property and liability policies contain a provision that has the effect of limiting or excluding the insurer’s liability in respect of a
loss, if you have entered into an agreement that limits or excludes your right to recover damages from a third party. You should not
sign any agreement which contains a ‘hold harmless’ or waiver clause without reference to Marsh.

Such clauses are often found in leases, maintenance contracts (e.g. burglar alarm, fire protection, computer) or contracts for building
alterations or repairs.

7. Claims Made Policies

Certain liability policies such as Professional Indemnity, Directors and Officers and Products liability policies are commonly written
on a “claims made” wording which means that only those claims (actual or potential) which are reported to the insurer during the
currency of the policy will be admitted.

You must therefore, make careful enquiry to ensure that all known claims against you, and any circumstances which may give rise
to a claim, have been disclosed to insurers prior to expiry of each policy year.

8. Essential Reading of Policy Wording

A full copy of your policy wording has been issued or will be passed to you as soon as it is received from Insurers.

It is absolutely essential that you should read this document without delay and advise Marsh in writing of any aspects which are not
clear or where the cover does not meet with your requirements.

9. Claims Notification
All policies are subject to claims reporting obligations that require you to notify your insurers as soon as any potential claim is
known to you. This is to avoid denial of coverage by insurers due to late reporting. If you have any questions about reporting claims,
please contact your Account Executive for more information.

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10. Warranties, Subjectivities and Special Conditions

If any warranties, subjectivities and special conditions are shown on your cover note, quotation slips, placing slips, insurance
coverage summary or policy, please make sure that you understand them and are able to follow their requirements exactly. If not,
please advise us immediately, as a breach of warranty, subjectivity and special condition will enable the underwriter to terminate the
policy from the date of that breach. This is the position regardless of whether there is any connection between the warranty,
subjectivity and special condition breached and the loss which leads to that breach becoming evident.

11. General

Many areas of insurance are complicated and the implications of some actions may not be evident to you. If, at any time, you are
unsure of any aspect of your insurances, please contact Marsh to discuss the matter. A directory of personnel to contact is included
in the next section of this Manual

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