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 General Meeting of Shareholders (“GMS”)

General Meeting of Shareholders or usually referred to as GMS, is an organ within the Company with highest authority to take any important decisions, if the quorum is met, and which is held by Board of Directors on request from Board of Commissioners, Board of Directors or Shareholders representing one tenth of the total outstanding shares 1/10. The GMS is also authorized to take decisions on the matters, an authority which is not delegated to either Board of Directors or Board of Commissioners.

A company is obligated to hold a GMS in a way to facilitate the shareholders to take important decisions, with respect to the articles of association and regulations as well as the Company’s interest.

Pertamina’s GMS comprises:

1. Annual General Meeting of Shareholders (AGMS) which is held to gain approval for Corporate Work Plan and Budget and shall be held within 30 (thirty) days after the current fiscal year ends. During the meeting, Board of Directors will present the Corporate Work Plan and Budget including Financial Statement projection and the matters that require GMS’ approval in the interest of the Company yet not yet included in the Corporate Work Plan and Budget.
2. Annual General Meeting of Shareholders (AGMS) which is held to give consent to the Annual Report and shall be held in June at the latest after the current fiscal year ends. During the meeting, Board of Directors will present Annual Report of the Company, propose a plan of using the net income of the Company, as well as the important matters that require the GMS’ approval in the interest of the Company.
3. Extraordinary General Meeting of Shareholders (EGMS) which is held at any time and whenever necessary.