Mei 02, 2016

Summary of Annual General Meeting of Shareholders PT Phapros, Tbk Fiscal Year 2015

Meeting Agenda

1. Approval of the Annual Report of the Company for the Book Year 2015, including Reports of the Board of Directors of the Company regarding the Company's Businesses and Report of Supervisory Duty of the Board of Commissioners and Ratification of the Financial Statements of the Company for the year ended December, 31 2015, as well as to fully acquit the
responsibility (acquit et de charge) of the Board of Directors and the Board of Commissioners of the Company towards management action and supervision for the Book Year 2015.

2. Determination of Company's nett profit for the year ended December 31, 2015.

3. Determination of salaries/honorarium and allowance for the Book Year 2016 and tantiem for the Book Year 2015 to the members of the Board of Commissioners and Board of Directors of the Company.

4. The appointment of Public Accountant to audit the Financial Statements of the Company for the year ended December 31, 2016.

5. The Changes in the organization structure of the Company Management.

The Meeting was attended by the following members of Board of Commissioners and Board of Directors:
Board of Commissioners:
- Mochammad Yana Aditya (Commissioner);
- Fasli Djalal (Independent Commissioner);
- Masrizal Achmad Syarif (Commissioner);

Board of Directors:
- Iswanto (President Director);
- Budi Ruseno (Director of Finance);
- Barokah Sri Utami (Production Director);
- Syamsul Huda (Director of Marketing).

Meeting was attended by shareholders and/or their representatives which represent 120.841.938 shares, or 71,93% of 168.000.000 shares that the Company published.

The Meeting was led by Mochamad Yana Aditya as the Head Commissioner based on the Commissioner's Meeting on 15th of April 2016.

Shareholders and/or their representatives had been given chance to raise questions, opinions, suggestions, or advice in relation to the Meeting Agenda that was discussed at that moment, and had been recorded in the Meeting Report that are compiled by Notary Dr.R. Djoko Setyo HW, SE, MM, SH, Mkn.

Meeting Agenda, Number Shareholder/Their Representative That Give Sugestion or Question, Desicion-Making Mechanism
Meeting Agenda No. 1
1. Mr. Robertus Harsono Dharmawan, IR, owner and holder of 115,500 shares (0.07%)
2. Mr. Titus Handojo, owners and holders of 1,260,000 shares (0.75%) Negotiation for Consensus

Meeting Agenda No. 2
PT. RNI, the owner and holder of 95,043,112 shares (56.57%).
Negotiation for Consensus

Meeting Agenda No.3 - Negotiation for Consensus
Meeting Agenda No.4 - Negotiation for Consensus

Meeting Agenda No.5
1. PT. RNI, the owner and holder of 95,043,112 shares (56.57%).
2. Mr. Titus Handojo, owners and holders of 1,260,000 shares (0.75%) Negotiation for Consensus

Decision of The General Shareholder Meeting
1. Approve of the Annual Report of the Company for the Book Year 2015, oncluding Reports of the Board of Directors of the Company regarding the Company's Businesses and Report of Supervisory Duty of the Board of Commisioners and Ratification of the Financial Statements of the Company for the year ended Desember, 31 2015, and the Company's financial statements for the book year ended December 31, 2014 were restated, as well as to fully acquit the responsibility (acquit et de charge) of the Board of Directors and the Board of Commisioners of the Company towards management action and supervision for the Book Year 2015, throughout as such actions do not contradict with the law and regulation, and recorded
in the books of the Company.

2. Approved and determined the distribution of profit and dividend for the Book Year that ended in 31st of December 2015, with details as follow:
a. distributed as a cash dividend amounting to: 50% or Rp 31,503,963,230, - ;
b. Allocated and recorded as the Reserve Fund and Working Capital amounted
to: 50% or Rp31,503,963,230, -

3. Meeting's approval to bestow the Board of Commissioners with authority to determine the honorarium/salary, and facilities for Company's Board of Director and Board of Commissioners.

4. Meeting's approval to bestow the Board of Commissioners with authority to appoint Public Accountant Office, and to determine honorarium and other conditions.

5. Approved the chance of Company's Board of Director's structure, and accept Mr. Iswanto and Mr. Budi Ruseno as President Director and Finance Director , and dismiss both of them with utmost gratitude and honor, for all
the contribution during their office.Approved and promote Mr. Heru Marsono as Financial Director and Mrs.
Chairani Harahap as Marketing Director. The appointment as from the decision of this meeting until the closing of the fifith General Meeting of Shareholders.Diverting assignment Mrs. Barokah Sri Utami from previously as Production Director to President Director. Diverting assignment Syamsul Huda from previously as Marketing Director to Production Director. The diverting assignment continously with the remaining period with theri previous period when first appointed.

Board of Director Structure transformed into:
- President Director: Mrs. Barokah Sri Utami;
- Finance Director: Mr. Heru Marsono;
- Production Director: Mr. Syamsul Huda;
- Marketing Director: Mrs. Chairani Harahap;

Dismissal and appointment and diverting assignment members of the Board of Directors is effective as of the closing of this meetings, if the appointment of members of the Board of Directors, as mentioned above did not get approval from the Ministry of State-Owned Enterprises, the members of the Board of Directors appointed under this meeting will be dismissed and further amended in accordance with the decision of the Ministry State-owned enterprises.

SCHEDULE AND PROCEDURES FOR PAYMENT OF DIVIDEND

1. Dividend shall be distributed to shareholders whose names are registered in the Company's Shareholder Register which are maintained by Bureau of Effect Administration (i.e. PT. BSR Indonesia)

2. Condition on dividend withdrawal follows the Company's policy that have been determined and informed by the Company

3. Complying with the Article 36 of Financial Service Authority Rule No. 32/POJK.04/2014, Dividend shall be distributed on the May 23 2016, or 21 (twenty one) days after the publication of the Summary of General Shareholder Meeting Report

This Announcement of Summary of the General Meeting of Shareholder Minutes of Meeting conducted to comply with Financial Service Authority Rule No. 32/POJK.04/2014 about Planning and Executing General Meeting of Shareholder for Public Company, also to comply with Financial Service Authority Rule No. 33/POJK.04/2014 about Board of Director, and Board of Commissioner of Emittent or Public Company.

This announcement has been made in Bahasa Indonesia and English, in the event that there's a different interpretation between the two language, the Bahasa Indonesia version shall prevail.

Semarang, May 2nd 2016.
PT. PHAPROS, Tbk.
Board of Directors