Samudera Shipping Line : Change - Announcement Of Appointment Of Executive Director And Chief Executive Director

Yes.

Mr. Bani is a director/commissioner of the companies listed in Appendix A. The Company and its subsidiaries ('Group Companies') have entered into transactions with some of the companies listed in Appendix A. The Group Companies may enter into new transactions or renew some of the existing engagement with some of the companies listed in Appendix A.

Any potential conflict of interest will be mitigated as follows:

1. Mr. Bani is answerable to the Board of Directors of the Company. All the major decision involving the Group Companies will be determined by the Board of Directors of the Company. The Board of Directors will review instances of conflict of interest involving Mr. Bani.

2. In instances where conflict of interest exist, Mr. Bani will abstain from voting and/or making recommendation.

3. The Company has internal procedure mechanism to assess and ensure that transactions involving conflict of interest shall be on arm's length basis and not prejudicial to the interest of the Group Companies and shareholders of the Company.

4. The Audit Committee will review any actual or potential conflicts of interest. The review involves examination of the nature of the conflict. The Audit Committee will propose measures for the Company to mitigate the impact of such conflict of interest.

5. As chief executive officer of the Company, Mr. Bani owes a duty of fidelity and good faith to the Company.