NASFUND Deed

NASFUND Deed

NATIONAL SUPERANNUATION FUND LIMITED of PO Box 5791, Boroko, National Capital District,

Papua New Guinea (the Trustee).

Recitals

A. By The National Provident Fund Act (Chapter No. 377 of the revised laws of Papua New Guinea) a superannuation fund known as the NationalProvident Fund (Fund) was established.

B. In accordance with the requirements of the Superannuation (General Provisions) Act 2000 (the Act) the Fund must comply with the New Act and must have a new Trustee company which has firstly been approved by the Bank of Papua New Guinea.

C. The Trustee has agreed to be the trustee of the Fund.

D. In accordance with section 132 of the Act the assets and liabilities of the Fund are to be transferred to the Fund which shall then be governed by the Rules to this Deed with effect from 31 May 2002.

E. The Trustee is desirous of executing this Deed in order to give effect to the Act.

Operative Provisions

A The fund called the National Provident Fund (Fund) was established by The National Provident Fund Act in 1980,

B. This deed includes the rules (Rules) attached to it.

C. The Trustee is the trustee for the time being of the Fund.

D. The Trustee must hold the assets of the Fund on trust to apply them in the manner set out in the Rules.

E. This deed may be amended in the manner set out in the Rules.

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