166 (02) (03) (07) (07) (02) stock.evergreen.com.tw (02) 2505

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2 166 (02) (03) (07) (07) (02) stock.evergreen.com.tw (02) E - [email protected] (02) E - [email protected] (02)

3

4 100 ( ) 1. Alphaliner % % 0.8%Alphaliner 7.7% 2

5 2011 Annual Report 2. Alphaliner % TEU 63 8 TEU ( 0.5%) TEU ( 4%) TEU ( 11.6%)

6 TEU ( )

7 2011 Annual Report ( ) % ( ) % -4.87% % ( )

8 ( ) 1. S-Type L-Type (Discovery Channel) 6

9 2011 Annual Report 2. (ShipmentLink.com)

10 ( 94-98) 99 ( )

11 2011 Annual Report ( ) Alphaliner % 7.7% 1.5% Piers 2.5% ( ) 9

12 6%-7% 2. Alphaliner % TEU (Cascade Effect) ( Alphaliner TEU 39% TEU TEU 10 TEU ) 3. 10

13 2011 Annual Report ( ) ( ) (TPP) (APEC) (ASEAN) (WTO) (ECFA) ( ) (IMF) %( 2.1% 11

14 -0.3% 8.2% 5.7%) L-Type 12

15 2011 Annual Report 13

16 57 58 / ( ) 61 / ( ) / 65 / / 68 / / 71 G 73 / 14

17 2011 Annual Report 74 / / / / / / / / / / / / 86 / / / NK / 15

18 87 / / (DNV) ISO-9001:2000 ( )(TESCO) TEU 16

19 2011 Annual Report 91 / / (NUE) / / (WAE) CMA CGM / ANLHANJIN / / (Environmental Excellence Award) ZIM / ZIM / (Safety, Quality & Environmental Management) ISO 9001: CMA CGM / CMA CGM 17

20 Lloyd's List (Excellence in Commitment to Training) LOG NET (First Annual LOG- NET E-Commerce Excellence Award) Hapag-Lloyd Simatech Shipping & Forwarding LLC / / S 93 LOG NET 2004 (LOG-NET E-Commerce Excellence Award) Hapag Lloyd TEU 94 PCT (Cosco) 18

21 2011 Annual Report / / (JHX) (FRS) Global Marine Russia Limited(GMR) (FRS) / / (CIX) / / (THX) / / (CUE) / (CSI) (ECSA) (ESA)

22 / / / / / / 96 / / (ESA) / (FAX) / (SRS) / (NSE/NS6) / (AEM) 2007 / (AU3) 97 / (CEM) / (KHP) (TFS) / (JAS) / / (TCA) / (FPS) (Wal-Mart Stores Inc.) 2007/

23 2011 Annual Report (AFS) / / (JTP) / (AANAAS) (EGDL) 2008 / / (UAE) / / (CPS) / (HBT) 98 Sea Consortium Pte Ltd. (ASX) (GF1) (GF2) / (NSA) / (NSB) (ESA) / (CEM)/ (AUE2) / / / (HTW) / / (ESA) / (CSE) CKYH / (TAE) Lloyd's List (The Corporate Social Responsibility Award) Norasia / 21

24 (FEM) / (PNW) Simatech / (EAF) / (CPS2) / (HBS) / (AEX7) L Simatech / / (AGI) / / (JVT) Lloyd's List (Newsmaker of the year) MCC Transport / (MBS) Simatech / (CIX2) 100 / / (HBI) / (JTS) IS1 / / (TMI)

25 2011 Annual Report (CES2) Seacon / (AEF) (WSA) Interasia Lines Chennai (TMT) 8,000TEU - (KCS) (MZX) / / (HBI) / (HBH) / (PIS) / / (CN1) (Containerisation International) (CI Awards) 2011 / / / (JTS) ( )/ (SCH) / / (TCI) 23

26 ( ) / / / 11. / ( ) 14. / /

27 2011 Annual Report ( ) STOCKHOLDERS MEETING PUBLIC RELATIONS DIV. SUPERVISORS PERSONNEL DIV. BOARD OF DIRECTORS CHAIRMAN VICE CHAIRMAN COMPENSATION COMMITTEE CLINIC DIV. FINANCE DIV. GENERAL AFFAIRS DEPT. AUDITING DIV. LABOR SAFETY & HEALTH DIV. PRESIDENT INTERNATIONAL COORDINATING DIV. INTERNATIONAL BUSINESS DIV. LOGISTICS DIV. PROJECT DIV. MARINE DIV. ENGINEERING DIV. KAOHSIUNG TERMINAL DIV. 25

28 ( ) ( ) ( 1) ( 2) ( 2) ( ) ( ) , , , , , ,488, ,543, ( ) , , ,365, ( 3) ( 4) 335,852, ,435, , , ,

29 2011 Annual Report ( ) ( 1) ( 2) ( 2) ( ) ,111, ,521, ( 5) , , ,157,653, ,474,940, ~

30 2. ( 1) ( 2) (56.33%) (20%) (20%) (0.28%) (0.24%) (0.12%) (0.12%) (0.08%) (0.08%) (0.07%) (20%) (20%) (20%) (20%) (20%) (100%) 1 2 ( ) ( 1) ( 2) ( 3) (19.32%) (14.41%) (5.00%) (3.02%) (2.30%) (1.61%) (1.57%) (1.47%) (1.22%) (1.17%) (28.86%) (16.67%) (12.9%) (12.19%) (7.14%) (5.81%) (5.1%) (5%) (5%) (1.33%) Venezio Investments Pte. Ltd. (43.26%)DBS Nominees Pte Ltd (11.51%)Citibank Nominees Singapore Pte Ltd (10.35%) DBSN Services Pte Ltd (5.35%)HSBC (Singapore) Nominees Pte Ltd (4.56%)United Overseas Bank Nominees Pte Ltd (2.11%)Raffles Nominees (Pte) Ltd (2.10%)BNP Paribas Securities Services Singapore (1.57%)OCBC Nominees Singapore Pte Ltd (0.24%)UOB Kay Hian Pte Ltd (0.23%) (100%) ( )

31 2011 Annual Report ( 1) ( 2) (1) (2) ( ) (3) (4) (5) (6) ( ) ( ) (7) ( ) ( ) (8) (9) 30 (10) 27 29

32 ( ) ( ) ( ) , , ( ) : ( ) : : : ERASMUS UNIVERSITY BUSINESS INFORMATICS

33 2011 Annual Report ( ) , ( ) , , , ( ) ( ) LKB LAWRENCE TECHNOLOGICAL UNIVERSITY BUSINESS ADMINISTRATION 31

34 ( ) , ( ) , ( ) LLOYD TRIESTINO 32

35 2011 Annual Report ( ) ( ) 1. ( ) ( ) ( ) ( 1) ( ) ( 1) ( 2) ( ) ( 2) (A) (B) (C) ( 3) (D) AB C D (E) (F) (G) (H) ABC DEF G 3,837 3,837 5,500 5, , , , ,546 3, , : (A) (B) ( ) (C) AB C ,

36 3. (A) (B) ( 1) (C) (D) ( 2) AB C D (%) 19,906 19, ,087 6, ,000,000 2,000,000 ( ) 5,000,000 ( ) 5,000,000 ( ) 10,000,000 ( ) 10,000,000 ( ) 15,000,000 ( ) 15,000,000 ( ) 30,000,000 ( ) 30,000,000 ( ) 50,000,000 ( ) 50,000,000 ( ) 100,000,000 ( ) 100,000,

37 2011 Annual Report 4. (%) ( 1) ( 1) ( ) ( )

38 ( ) A % -0.42% 0.37% -0.61% 0.06% 0% 0.05% 0% 0.24% -0.84% 0.20% -0.71% B. 36

39 2011 Annual Report ( ) ( 1) ( ) (B) ( ) (%) B/A( 2) ( ) % (A) % (A) ( ) % (A) (A) % (A) % (A) % ( ) % (A) ( ) % (A) (A) % (A) % (A) %

40 ( ) ( ) (Uni-Probity) ( ) ( ) 5 ( ) ( ) (Uni-Prosper) ( ) ( ) 4 ( ) ( ) 6 ( ) ( ) ( ) ( ) ( ) 5

41 2011 Annual Report 101 ( ) ( ) ( ) 6 ( ) ( ) 100 ( ) 8 A 1 2 (1) ( ) (%) ( ) (2) ( ) (%) ( ) 39

42 ( ) (A) (B) (%) (B/A)( ) % % ( ) ( ) ( ) ( ) (%) (%) 40

43 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 1. ( 2. ( tw) 41

44 ( ) ( ) 1. ( ) ( ) ( ) LCD 3 ( ) ( ) ( ) 42

45 2011 Annual Report ( ) : (1) (2) (A) (B) (B/A) % % % 43

46 44 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 39 : (1) (2) (3) (4) (5) (6) (European Commission)

47 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( ) ( ) 99 3 ( 45

48 ( ) (UNI-ASPIRE) Bright Ruby (Discovery Channel) ( ) DNV ISO 9001 ( DNV ) ( )

49 2011 Annual Report ( ) 1. 8 A LCD (3 ) LCD (3 ) 3. (1) 1. / / 04 / / 10 / COSO IFRS IFRS / / 08 / / 11 / ~ /6 2. ~ / / 06 / / 10 / /6 2. IFRS IFRS / / 03 / / 09 / ~ /6 2. ~ (CIA) /6 47

50 1. 1. ~ / 01 / / 10 / /6 2. ~ / / 08 / / 09 / ~ /6 2. ~ / / 06 / / 06 / ~ /6 2. ~ /6 1. ~ / 05 / / 08 / /6 2. ~ /6 100 / 06 / / 06 / 29 /18 (2)

51 2011 Annual Report ( ) ( ) ( )

52 ( ) ( ) 50

53 2011 Annual Report 2. ( ) ( ) (1) 99 a ,157,544, ,157,544,027 b. a b (2) 3,157,544, ,754, (3) (4) (5) 100 (6) (7) (1) Clove Holding Ltd. (2) 99 (3) 99 (4) (5) 99 (6) 51

54 (7) 100 (8) (9) 100 (10) 100 (11) (1) (2) (3) (4) (1) ( ) - (Uni- Probity) (2) ( ) 3 8,000 TEU SAMSUNG HEAVY INDUSTRIES CO., LTD. 7 8,000 TEU ,859,247 50,000, (1) 100 (2) (3) ( ) - (Uni-Prosper) (4) (1) (2) (1) 101 (2) (3) 52

55 2011 Annual Report (4) ( ) ( ) (5) 100 (6) 101 (7) 101 (8) (1) 100 (2) 100 (3) 100 (4) 101 (5) 100 (6) (7) 101 (8) (9) (10) (11) (12) (13) 101 ( ) ( )

56 ( ) ( ) 12, , ( ) ( ) 54

57 2011 Annual Report ( ) ( ) V ( ) 55

58 ( ) ( )

59 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( ) 40, , ,952, ( ) 40, , ( ) ( ) 33,583, , , ( ) ,410, , ,583, ( ) (10,000) ( )

60 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ,

61 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( )

62 ( ) ( ) ( ) 369,435, ,517, ,132, ,275,

63 2011 Annual Report ( ) 208,488, ,543, ,521, ,214,

64 ( ) 110,194, ,121, ,513, ,154, ,154, ,513, ( ) 53,816,

65 2011 Annual Report ( ) 424, , , , , , , , , , , , , , , Peony Investment S.A. 4, ,

66 ( ) ,300,000,000 33,000,000,000 2,725,167,586 27,251,675,860 17,642, ,600,000,000 36,000,000,000 2,915,929,317 29,159,293, ,761, ,600,000,000 36,000,000,000 2,923,345,834 29,233,458,340 7,416, ,600,000,000 36,000,000,000 2,923,482,670 29,234,826, , ,600,000,000 36,000,000,000 2,929,700,491 29,297,004,910 6,217, ,600,000,000 36,000,000,000 3,018,667,767 30,186,677,670 88,967, ,600,000,000 36,000,000,000 3,033,539,954 30,335,399,540 14,872, ,600,000,000 36,000,000,000 3,044,710,377 30,447,103,770 11,170, ,600,000,000 36,000,000,000 3,060,844,007 30,608,440,070 16,133,

67 2011 Annual Report ,600,000,000 36,000,000,000 3,060,938,941 30,609,389,410 94, ,600,000,000 36,000,000,000 3,062,599,149 30,625,991,490 1,660, ,600,000,000 36,000,000,000 3,065,493,353 30,654,933,530 2,894, ,600,000,000 36,000,000,000 3,104,405,427 31,044,054,270 38,912, ,600,000,000 36,000,000,000 3,155,787,541 31,557,875,410 51,382, ,600,000,000 36,000,000,000 3,157,643,827 31,576,438,270 1,856, ,600,000,000 36,000,000,000 3,473,458,110 34,734,581,100 59, ,754, ,474,940, ,059,344 3,600,000,

68 ( ) , ,709 15,854, ,934, ,683,993 1,116,180,249 1,751,286,531 3,474,940,656 % 0.46% 3.08% 13.95% 32.12% 50.39% % ( ) % ,166 14,149, % 1,000 5,000 46, ,060, % 5,001 10,000 13,609 92,818, % 10,001 15,000 6,750 80,417, % 15,001 20,000 2,431 42,475, % 20,001 30,000 2,826 67,725, % 30,001 40,000 1,239 42,799, % 40,001 50, ,808, % 50, ,000 1,247 85,399, % 100, , ,794, % 200, , ,266, % 400, , ,661, % 600, , ,045, % 800,001 1,000, ,135, % 1,000, ,665,382, % 125,709 3,474,940, % 66

69 2011 Annual Report ( ) % 369,435, ,517, ,275, ,488, ,521, ,214, ,194, ,513, ,154, ,816,

70 ( ) ( ,377,843 ( ) 3,469,771( ) 3,473,474( ) ( / ) 4.94 / %

71 2011 Annual Report ( ) ( ) ( ) 101 ( ) (1) (2) 3. (1)

72 100 (2) 0 0% (3) ,000,000 40,000, ,000,000 55,000,000 ( ) 70

73 2011 Annual Report ( ) % 0% ( ) ( ) ( ) 100% 100% ( ) ,595, , ,058,139 71

74 % % ( ) 72

75 2011 Annual Report ( ) ( ) ,061, ,061, ,061, ,061,

76 ( ) ( ) ( ) ( ) 74

77 2011 Annual Report ,000, ,267,030 GDRS 2,085,856 GDRS Citibank N.A. New York Citibank N.A. New York Citibank Taiwan Limited Citibank Taiwan Limited 395,911 GDRS

78 (85) ( ) ,267,030 62,670, ( 505 ) 115,000,000 2,085, ,352,886 83,528, ,911 3,959,184 ( ) ,500,000 2,500,000 3,000,000 2,500, ,500, ,000, ( ) 76

79 2011 Annual Report ( ) (TPS) TPS 100 5,758 TEU 100 5,965 TEU 2. (AUE2) ,150 TEU 11 (CSCL) (UASC) 1,039 TEU 3. (JAS) (MOL) 400TEU TEU 4. (TP5) TPS (Maersk Line) TP5 250 TEU / 1. (CES2) CES (BAL3/NDS1/NDS2/IES4/RDX1) 4 BAL3 7 NDS1/NDS2 12 NDS2 IES4 RDX1 3. (ABS/BSF) ABS ( ) BSF ( ) (Piraeus) 4. (MD2) (Fos) (Port Said) (K Line) / 1. / (WSA) / / 1,450 TEU 2. (MZX) (MOL) 77

80 3. (AEF) ,700 TEU X-PRESS / / 100 / / 1. (IS1/TMI) IS1 ( ) 3 IS1 TMI 2. (TMN) (KHP) (KCS) (IN4) MCC Transport IN4 6. (HBH) / (PIS) HBI ( / / ) 10 HBH PIS 7. / (CN1) (APG) (UX type) 9. / (SCH) JTS ( / ) 11 SCH 10. / / (TCI) / 11. / / (TMT)/ (ICS) Interasia Lines TMT 11 (Hanjin) (NYK) ICS ( ) 12. / / (VMI) VSS ( ) PIS ( ) 78

81 2011 Annual Report 1. / (HBS) / (JVT) / (CPT) / (KTP) (SPI) ( ) (IMF) % 3.9% 2% Alphaliner % % 0.8% Alphaliner 7.7% Alphaliner %( 70 TEU) %( 120 TEU) %( 113 TEU) TEU (Cascade Effect) 100 (Drewry) TEU TEU( 0.5%) TEU( 4%) TEU ( 11.6%) 79

82 Alphaliner 39% TEU TEU 10 TEU ( ) L-Type ( ) ( ) 1. (KPI) ( ) ( ) 39,778,709 41,136,771 31,404,244 25,710,482 20,936,163 21,596,805 12,561,697 14,397,869 80

83 2011 Annual Report 2. ( ) ( ) (TEU) (%) (TEU) (%) ( ) 605, , , , , , , , Alphaliner % 101 Piers 2.5% % 10% Piers % CTS % 5.1% 101 Alphaliner 1.5% 81

84 CTS % 101 Datamyne % Piers 11.9% 101 2% Piers % 100 Piers % % 6.4% 9 5.6% Piers % 6% / 100 Colon / % 82

85 2011 Annual Report (Mercosur) (SACU) % IMF GDP 3%-3.2% IRA % 101 / % 101 8% 83

86 Dynaliner TEU TEU (1) SEARS 2010 (2) ( 94-98) (1) (ShipmentLink.com) 97 (2) 101 (3) 11 (1) (2) (3) (Discovery Channel) 84

87 2011 Annual Report 5. (1) (2) 101 ECFA (3) 101 TEU (1) (2) (3) (4) (1) (2) (3) L-Type (4) ( ) ( ) 25% 85

88 ( ) ( ) ( ) ( ) ,049,182 14,558, , , , , , ,182 17,026,011 15,361, ,042 1,044 1, ,210 1,240 1, % 0.0% 0.0% 7.4% 7.9% 7.5% 79.7% 78.9% 79.5% 5.1% 5.2% 5.3% 7.8% 8.0% 7.7% 86

89 2011 Annual Report ( ) USD 180, (IMO) (Emission Control Area) USD 2,764, USD 5,837, (CARB) 24 Marine Gas Oil USD 4,290,000 ( ) 1. (CARB) Marine Gas Oil IOPPIAPP ISPP 7. (GARD Protection and Indemnity- GARD P&I) 8. (Vessel Certificate of Financial Responsibility COFR) % m/m % m/m 11. Cut-Out % (1) % MGO 0.5% MDO 87

90 (2) % MGO 0.5% MDO (3) % MGO MDO MGO (Max 0.1%) LAX S-Type 5 AMP ( ) 1. 99/01/ % m/m 2. 99/11/10 A 3. MARPOL VI IMO International Maritime Organization MEPC Maritime Environment Protection Committee IOPP International Oil Pollution Prevention IAPP International Air Pollution Prevention ISPP International Sewage Pollution Prevention ( ) 1. ( ) ( ) 8. 88

91 2011 Annual Report ( ) (1) (2) ( ) NT$10, TOEIC ( ) TOEIC ( ) TOEIC ,441 15, ,418 89

92 L 2 10 L 1 19 (MCA) EP ( ) EP CBT IVODVG IMDG SEMINAR 1 5 IVODVG IMDG SEMINAR ,481 ( ) ( )

93 2011 Annual Report ( ) ( ) ( ) / ( )

94 ( ) YANG MING MARINE ( ) TRANSPORT CORP. 60 FUJIAN FOREIGN TRADE CENTRE ( ) SHIPPING CO. / 90 OOCL(ASIA OOCL PACIFIC) LTD ( / 30 / ) BENGAL TIGER : BTL LINE ( / / ) 30 NINGBO OCEAN SHIPPING CO., / LTD 90 CHINA UNITED LINES LTD / 90 WAN HAI LINES WHL LTD ( / / ) 90 WAN HAI LINES WHL LTD ( / )

95 2011 Annual Report 1. OOCL(ASIA PACIFIC) LTD YANGMING ( / / (UK) LTD. 90 ) 1. WAN HAI LINES LTD HAPAG-LLOYD ( / / / CONTAINER 90 ) LINE PENDULUM PENEX EXPRESS LINES, ( / / LTD, HONG KONG ) 90 WAN HAI LINES WHL LTD ( / / ) 45 BENGAL TIGER BTL LINE ( / / 90 ) CHINA SHIPPING CONTAINER LINES ( / / ) 60 CNC LINE (CMA CNC CGM GROUP) ( / / / 30 ) 1. OOCL(ASIA PACIFIC) LTD SIMATECH ( SHIPPING PTE 60 ) LTD. 93

96 SIMATECH SSF SHIPPING PTE LTD ( ) 90 SIMATECH SSF SHIPPING & ( ) FORWARDING L.L.C. 90 SEA SEACON CONSORTIUM PTE LTD. ( ) 90 MCC TRANSPORT MCC SINGAPORE ( / / PTE LTD. / / 90 ) INTERASIA LINES IAL SINGAPORE PTE ( / LTD. / ) MCC TRANSPORT MCC SINGAPORE PTE ( / / LTD. ) MCC TRANSPORT MCC SINGAPORE PTE ( / / LTD. ) MCC TRANSPORT MCC SINGAPORE PTE ( / LTD. ) 90 COSCO CONTAINER ( LINES COMPANY ) LIMITED 30 94

97 2011 Annual Report CNC LINE (CMA CGM GROUP) ( / ) 90 KAWASAKI KISEN KLINE KAISHA, LTD ( / 60 ) WAN HAI LINES LTD SIMATECH SSFK LINE SHIPPING PTE LTD ( ) 2. K LINE 90 COSCO COSCON CONTAINER ( ) LINES COMPANY LIMITED NYK NYK 2. Hanjin Shipping ( 90 ) WAN HAI LINES LTD ( ) 60 WAN HAI LINES LTD ( ) 60 95

98 ( ) CMA CGM S.A CMA CGM ( / ) 90 COSCO COSCON CONTAINER LINE ( / ) 90 COSCO COSCON CONTAINER LINE ( / ) 90 MAERSK ( / ) HAMBURG SUD HAPAG LLOYD ( / 3. HYUNDAI ) MERCHANT 180 MARINE 4. APL CO KAWASAKI KISAN KAISHA LTD 180 ( / ) 2. NIPPON YUSEN KAISHA 3. MITSUI O.S.K. LINES LTD. 4. OOCL 96

99 2011 Annual Report CHINA SHIPPING CSC CONTAINER LINES ( / ) 6 18 CHINA SHIPPING CSC CONTAINER LINES ( / ) 6 18 CKYH CKYH ( / ) CSAV NORASIA CSAV ( / ) MITSUI O.S.K. LINES MOL LTD ( / ) 9 97

100 MITSUI O.S.K. LINES MOL LTD ( / ) 9 CHINA SHIPPING CSCL CONTAINER LINES ( / ) 6 18 CHINA SHIPPING CSCL CONTAINER LINES ( / ) COSCO COSCON CONTAINER WHLPIL LINE ( / ) 2. WAN HAI LINES 3 3. PACIFIC INTERNATIONAL 3 LINES NIPPON YUSEN NYK KAISHA ( / ) KAWASAKI KISAN K Line KAISHA LTD ( / ) 45 98

101 2011 Annual Report ( ) ( ) 13,655,639 9,968,985 11,639,249 12,253,721 11,599,365 16,339,531 64,053,206 68,104,188 57,746,286 69,148,658 68,356,346 59,854,911 15,007,157 11,360,775 10,838,750 12,630,631 10,785,775 15,533,636 14,465 16,072 37,756 59,440 81,124 14, , , , , , ,641 92,922,390 89,656,404 80,526,561 94,223,170 90,962,884 91,928,184 7,613,383 10,636,628 6,927,545 11,144,598 12,737,552 10,247,423-13,794,172-11,144,598 18,020,605-21,209,534 10,457,355 16,940,692 16,245,973 5,211,992 21,790,772 2,933,647 2,738,901 2,206,727 3,586,423 3,315,660 2,799,738 31,756,564 23,832,884 26,074,964 30,976,994 21,265,204 34,837,933-26,990,428-30,976,994 26,548,257-34,734,581 31,248,395 30,625,992 30,609,390 30,338,695 34,749,407 7,480,392 7,202,990 6,675,194 6,355,383 6,016,190 7,489,817 22,544,132 31,951,458 16,786,007 26,641,360 31,285,147 19,285,372-28,793,914-26,641,360 26,002, ,733 1,184, ,729 (776,363) 453, ,161 (2,656,053) (5,055,677) 640, ,498 2,074,210 (3,488,917) (1,229,959) (707,771) (483,688) (479,092) (469,755) (1,233,589) ,165,826 65,823,520 54,451,597 63,246,176 69,697,680 57,090,251-62,665,976-63,246,176 64,414,627 - ( )

102 ( ) ( ) 15,361,235 17,026,011 15,062,947 22,437,412 27,844,435 3,897, ,144 1,773,310 1,987,591 1,557,350 3,886, ,117 (775,318) 84, ,541 (361,147) 2,056,646 (164,314) 1,630,140 16,395,786 3,301,851 4,522,069 10,460, ,796 4,001, ,871 14,506,852 3,473, ,883 3,476,611 (3,146,708) 15,864,882 (10,732,460) 687,757 11,659,979 (3,398,129) (3,092,361) 15,165,451 (9,855,353) 639,266 10,381,702 (3,258,760) (3,092,361) 15,165,451 (9,855,353) 639,266 10,381,702 (3,258,760) (0.89) 4.49 (3.22) (0.94) ( ) 101 ( )

103 2011 Annual Report ( ) ( ) ( ) (8.22) (39.32) (29.69) (3.08) (11.05) (3.43) (4.87) (16.75) (5.51) (2.23) (0.47) (9.06) (35.04) (9.78) (20.13) (65.43) (83.62) (0.89) 4.49 (3.22) (0.94) (13.86) (11.00) (1.19) 5.24 (1.09) (6.39) (2.79) (8.20) 2.44 (3.60) 0.69 (0.35) % ( )

104 ( ) ( ) (7.22) (31.21) (24.22) (2.49) (9.62) (2.73) (5.42) (19.57) (6.19) (14.73) (40.08) (8.31) (9.84) (42.04) (11.47) (3.40) (14.90) (15.02) (1.06) 5.26 (3.99) (1.13) (2.18) (72.57) (2.82) (2.44) (10.03) (0.46) (0.57) (0.48) %

105 2011 Annual Report 1 (1) (2) 2 (1) (2) (3) 3 (1) ( ) ( ) (2) 365 (3) (4) ( ) ( ) (5) 365 (6) (7) 4 (1) (2) (3) (4) 5 (1) (2) ( ) (3) ( ) ( ) 6 (1) ( ) (2) ( ) 103

106

107 2011 Annual Report (101) ,329,398 25,791, % 28.77% ,089,769 6,729,189 PricewaterhouseCoopers Taiwan / 27F, 333 Keelung Rd., Sec. 1, Taipei, Taiwan T: +886 (2) , F:+ 886 (2) , 105

108

109 2011 Annual Report % % % % 1100 (()) $ 5,670,482 6 $ 3,481, (()) $ - - $ 2,603, (()) 2,230, ,908,928 2 (()) 5, , (()) 800, ,640, ,321, , () 396, , (()) 686, , (()) 29, (()) 131, , , , , , , , () 148,853-74, , (()) , , ,885 - (()) 4,459, ,891, , , () 340, , ,689-7,724-21XX 7,613, ,636, (()) 254, , () 121, , (()) - - 2,218, (()) 2,524, ,994, (()) 21,209, ,238, XX 13,655, ,968, XX 21,209, ,457, (()) 1,331, ,065 1 (()) 62, , (()) 602, , (()) 1,273, ,446, (()) 370,000-1,170, , , (()) 1,344, ,344, XX 2,933, ,738, (()) 61,672, ,527, XXX 31,756, ,832, XX 64,053, ,104, (()) (()) ,734, ,248, ,972, ,972,540 2 (()) ,360, ,512, ,805, ,456, ,261, ,530, , , ,606, ,611, ,076, ,346, , , ,596, ,110, ,713-6, , ,750 - (()) 15XY 23,593, ,796, ,102, ,586, X9 ( 13,504,192) ( 14) ( 12,912,384) ( 14) ,579, , ,918, ,476, ,862, ,407, XX 15,007, ,360, ( 2,656,053) ( 3) ( 5,055,677) ( 6) 1770 (()) 14,465-16, ( 1,229,959) ( 1) ( 707,771) ( 1) ,733-1,184, ,037-42,416-3XXX 61,165, ,823, , ,968 - () 18XX 191, ,384 - () 1XXX $ 92,922, $ 89,656, XXX $ 92,922, $ 89,656,

110 ( ( ) ) % % 4000 (()) $ 15,361, $ 17,026, (()) ( 14,631,091) ( 95) ( 15,252,701) ( 89) , ,773, (()) ( 1,505,462) ( 10) ( 1,688,343) ( 10) 6900 () ( 775,318) ( 5) 84, ,721-35, (()) ,595, ,605-83, () 959, ,070, , , , () 99, , (()) 236, , (()) 149, , ,630, ,395, ( 341,288) ( 2) ( 324,799) ( 2) 7521 (()) ( 3,595,320) ( 24) ( 7,919) - ( 2,426) ( 194,214) ( 1) 7580 ( 17,207) - ( 18,509) (()) ( 33,383) - ( 72,835) ( 1) 7880 ( 6,413) - ( 3,088) ( 4,001,530) ( 26) ( 615,871) ( 4) 7900 () ( 3,146,708) ( 20) 15,864, ()(()) 54,347 - ( 699,431) ( 4) 9600 () ($ 3,092,361) ( 20) $ 15,165, ()(()) 9750 () ($ 0.91) ($ 0.89) $ 4.70 $ 4.49 ()(()) 9850 () ($ 0.91) ($ 0.89) $ 4.54 $

111 2011 Annual Report $ 30,625,992 $ 6,675,194 $ 7,586,240 $ 957,344 $ 8,242,423 $ 640,363 ($ 483,688) $ 207,729 $ 54,451, , , ,278,024 - (127,826) ( 127,826) ( 1,075,152 ) ( 68,319) 711,600 ( 431,870) ( 4,620,888 ) - - ( 4,620,888) ( 155,764) - ( 155,764) , , ,165, ,165, $ 31,248,395 $ 7,202,990 $ 7,586,240 $ 957,344 $ 23,407,874 ($ 5,055,677) ($ 707,771) $ 1,184,125 $ 65,823, $ 31,248,395 $ 7,202,990 $ 7,586,240 $ 957,344 $ 23,407,874 ($ 5,055,677) ($ 707,771) $ 1,184,125 $ 65,823,520 99() - - 1,516,545 - (1,516,545) ,621,980 (3,621,980) ,157, (3,157,544) (3,157,544) ( 3,157,544) 328, , ,979 - ( 67,494) ( 67,494) - ( 4,441) ,021 ( 212,794) ( 539,536) ( 438,627) ,081, ,081, ( 309,394) - ( 309,394) ( 351,856) ( 351,856) ( 3,092,361) ( 3,092,361) $ 34,734,581 $ 7,480,392 $ 9,102,785 $ 4,579,324 $ 8,862,023 ($ 2,656,053) ($ 1,229,959) $ 292,733 $ 61,165,826 99$55,000$40,

112 () ( $ 3,092,361) $ 15,165,451 1,559,320 1,616,004 13,555 23, , ,743 43,029 54,195 ( 951,120) ( 1,067,784) () 4,500,822 ( 14,361,424) ( 61,631) ( 6,828) 190, ,914 ( 42,500) - ( 535,113) 1,346,892 35,913 ( 144,684) ( 215,445) 525, ,383 80,525 ( 38,884) 74,002 ( 1,590) 28, ,961 ( 28,877) ( 239,951) 338,758 ( 533,395) ( 506,630) ( 1,154) 47,529 ( 3,621) , ,243 29, ,353 ( 72,075) ( 118,864) 105,653 ( 1,569) 2,568 ( 9,528) 11,676 56,133 81,000 ( 111,224) 699,330 1,978,787 4,815,861 ( 343,479) ( 554,195) - ( 470,000) - 460,000-44,849-62, ,674 ( 2,873) - ( 6,446,569) ( 2,523,607) 1,956,321 1,176,619 ( 35,064) ( 22,977) ( 4,764,708) ( 1,737,486) () ( 2,603,172) 441,015 - ( 99,959) () 10,735,397 ( 2,019,405) - 24 ( 3,157,544) - () 4,974,681 ( 1,678,325) 2,188,760 1,400,050 3,481,722 2,081,672 $ 5,670,482 $ 3,481,722 $ 207,353 $ 133,992 ( 45,572) ( 7,000) $ 161,781 $ 126,992 $ 2,510 $ 2,404 $ 4,459,233 $ 4,891,791 $ 658,600 $ 1,247,

113 2011 Annual Report / ( ) ,230 ( ) ( ) ( ) 1. (1) (2) 111

114 (3) (4) 2. (1) (2) (3) (4) ( ) ( ) / ( ) 5. (1) (2) (3) ( ) /

115 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( )

116 ( ) ( ) 3 ( ) ( ) (1) (2) (3) (4)

117 2011 Annual Report ( ) 15 ( ) 1. ( ) % ( ) (96) (97) 127 ( ) ( ) ( )

118 ( ) ( ) ( ) 100 ( ) ( ) ( ) ( ) $ 5,639 $ 4,569 1,017, , , , , ,534 3,065, , , , ,664 - ( ) ( ) 3,148 ( 41,311 ) $ 5,670,482 $ 3,481,

119 2011 Annual Report ( ) $ 10,292 $ 290 2,343,997 2,041,462 2,354,289 2,041,752 ( 123,435 ) ( 132,824 ) $ 2,230,854 $ 1,908,928 $ 100,000 $ 100,000 ( 37,041 ) 4,287 $ 62,959 $ 104, $33,383 $72,835 ( ) ( ) $ 490,801 $ 490,801 ( ) 1,523 3, , , , ,436 $ 602,904 $ 957,108 ( ) $ 800,000 $ - $ 370,000 $ 1,170,000 ( ) $ 1,344,119 $ 1,344,

120 1. ( : ( ) ) % $10 $62,107 $476 $61, ( ) $ 686,108 $ 772,043 ( ): ( ) ( 735 ) ( 23,461 ) 686, , , ,501 $ 817,849 $ 855,083 ( ) $ - $ 158,383 ( ) $ 446,048 $ 359,587 2,028,261 1,585,980 50,497 49,343 $ 2,524,806 $ 1,994, Gaining Enterprise S.A.Greencompass Marine S.A.Italia Marittima S.p.A.Evergreen Marine (UK) Ltd. Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte. Ltd. 118

121 2011 Annual Report ( ) Peony Investment S.A % $ 44,769,469 $ 46,686,907 ( ) Everport Terminal Services Inc % 3,028 - ( ) 55.00% 87,777 94,813 ( ) 40.00% 609, ,326 ( ) 39.74% 7,991,293 8,418,428 ( ) 31.25% 89,111 77,345 ( ) 19.32% 7,315,432 7,848,925 ( ) 21.03% 807, ,142 $ 61,672,912 $ 64,527, ( ) Peony Investment S.A. ($ 3,998,886 ) $ 11,773,770 ( ) Everport Terminal Services Inc. - - ( ) 4,767 6,529 ( ) 59,868 56,468 ( ) 305, ,099 ( ) 11,766 3,425 ( ) 40,375 2,321,099 ( ) ( 19,133 ) ( 37,335 ) ($ 3,595,320 ) $ 14,595, ( ( ) ) 10 ( ) - ( ) 86, Everport Terminal Services Inc USD % 119

122 ( ) $ 1,972,540 $ - $ 1,972,540 1,360,388 ( 511,419) 848,969 4,261,946 ( 3,813,161) 448, ,766 ( 93,263) 27,503 12,076,977 ( 6,887,305) 5,189,672 3,596,904 ( 2,023,869) 1,573, ,662 ( 175,175) 28,487 23,593,183 ( 13,504,192) 10,088,991 4,918,166-4,918,166 $ 28,511,349 ($ 13,504,192) $ 15,007, $ 1,972,540 $ - $ 1,972,540 1,512,002 ( 500,059) 1,011,943 4,530,476 ( 3,838,906) 691, ,390 ( 98,203) 16,187 11,346,789 ( 6,569,182) 4,777,607 2,110,916 ( 1,730,638) 380, ,750 ( 175,396) 34,354 21,796,863 ( 12,912,384) 8,884,479 2,476,296-2,476,296 $ 24,273,159 ($ 12,912,384 ) $ 11,360, USD109,620 USD48,000 GARD P&I (PROTECTION & INDEMNITY) USD8,000,000 USD5,000, $1,135,682 $1,416, $742,135 $768, USD255,161 USD243, $45,

123 2011 Annual Report ( ) $ - $ 2,602,020-1,152 $ - $ 2,603,172 ( ) $ - $ 72, ,141 5, ,928 $ 5,163 $ 604, $236,346 $407, ( ) $ 2,955,661 $ 1,156,100 1,503,572 3,735,691 $ 4,459,233 $ 4,891,791 ( ) $ 594,100 $ 1,252,700 2,500,000 2,500,000 ( 138,439) ( 377,825 ) 2,955,661 3,374,875 ( 2,955,661 ) ( 1,156,100 ) $ - $ 2,218, ( ) $2,500,000 (1) (2) 0% 121

124 (3) (4) a. ( ) b. ( ) ( ) 14 c. ( ) (5) ( ) (6) a %( ) 30 b % c. (7) a ( ) b %~110% 122

125 2011 Annual Report (8) ( ) 3 ( ) ( ) ( ) (9) ( ) $2,500,000 (1) (2) 0% (3) (4) (5) a %( ) 30 b $250,000( 10%) c. (6)

126 2 3 ( % 0.5% % 0.5%) (7) a ( ) b % (8) ( ) 3 ( ) ( ) ( ) (9) $1,905,900 - $1,004,958 - $195, $256,

127 2011 Annual Report ( ) $ 2,400,000 $ 1,500,000 20,277,412 10,564,745 () ( ) 41,890 ( 80,840 ) - ( 6,196 ) ( 9,634 ) 22,713,106 11,974,271 ( 1,503,572 ) ( 3,735,691 ) $ 21,209,534 $ 8,238,580 ( ) ( ) % 125

128 2. (1) % 2.25% 2.00% 2.00% 2.00% 2.00% (2) ($ 243,725 ) ($ 233,057 ) ( 1,459,512 ) ( 1,126,857 ) ( 1,703,237 ) ( 1,359,914 ) ( 209,470 ) ( 307,866 ) ( 1,912,707 ) ( 1,667,780 ) 371, ,849 ( 1,541,455 ) ( 1,275,931 ) ,465 16,073 1,118, ,767 ( 923,760 ) ( 615,974 ) ($ 1,331,985 ) ($ 968,065 ) (3) $ 20,797 $ 30,517 37,168 30,538 ( 9,949 ) ( 10,765 ) - 20,076 1,607 1,607 56,999 33,401 $ 106,622 $ 105,

129 2011 Annual Report % $132,760 $134,634 ( ) $36,000,000 $34,734,581 3,473, ( ) ( ) 32,864 $ 328,642 62,240 $ 622,403 ( ) ( ) ( ) 1. 10% 0.5% 5% 10% 2. 25% 3. ( ) 127

130 ( ) ( ) $ 1,516,545 $ - 3,621,980-3,157,544 $ $ - 3,157, $40,000 $55, ( ) $ 14,558,973 $ 16,049, , , , , , ,074 $ 15,361,235 $ 17,026,011 ( ) ( ) ($ 54,347 ) $ 699,431 ( ) ( 3,985 ) ( 2,303 ) - ( 101 ) ( 23,194 ) - 111,224 ( 699,330 ) ( ) $ 29,698 ($ 2,303 ) 128

131 2011 Annual Report ( ) : $ 254,120 $ 315,710-69,952 60, ( 1,343,637 ) ( 1,506,528 ) - - ($ 1,019,565 ) ($ 1,130,789 ) 2. ( ) : $ 1,937 $ 329 $ 1,766 $ ,843 4,903 44,300 7, ,424 22, ,424 22, ,501 57, , ,186, ,648 1,222, ,843-24,833-19,830 $ 254,120 $ 315,710 $ - $ - $ 1,020 $ ,225 69, ,091 59,856 ( 7,903,745 ) ( 1,343,637 ) ( 8,861,931 ) ( 1,506,528) 3, ($ 1,273,685 ) ($1,446,499) $36,000 $24,

132 $ 2,456,334 $ 417,577 $ 201, $ 5,570,596 $ 5,570, ,291,427 17,837,278 $ 8,862,023 $ 23,407, $1,013,143 $2,509, % % ( ) ( ) 100 ( ) ( ) ($ 3,146,708 ) ($ 3,092,361 ) 3,469,771 ($ 0.91 ) ($ 0.89 ) ($ 3,146,708 ) ($ 3,092,361 ) 3,469,771 ($ 0.91 ) ($ 0.89 )

133 2011 Annual Report 99 ( ) ( ) $ 15,864,882 $ 15,165,451 3,377,843 $ 4.70 $ ,693 47, , ,652 $ 15,912,575 $ 15,213,144 3,507,720 $ 4.54 $ ( ) : 100 $ 293,980 $ 773,142 $ 1,067,122 17,024 57,711 74,735 26, , ,760 17,030 25,293 42,323 1,520,794 38,526 1,559, ,744 13, , $ 269,234 $ 943,984 $ 1,213,218 13,322 56,339 69,661 10, , ,634 18,789 23,997 42,786 1,575,148 40,856 1,616, ,743 23, ,

134 ( ) (EIS) (Evergreen International S.A.) ( ) ( ) ( ) (Peony Investment S.A.) Everport Terminal Services Inc.(ETS) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Evergreen Marine (Singapore) Pte. Ltd.EMS Evergreen Marine (Hong Kong) Ltd.(EGH) ( ) ( ) (SGTC) ( ) (KTIL) Vigor Enterprise S.A. (VIGOR) Clove Holding Ltd. (CLOVE) Evergreen Marine (UK) Ltd. (EMU) PT. Multi Bina Transport (MBT) PT. Multi Bina Pura International (MBPI) Greencompass Marine S.A. (GMS) Evergreen Heavy Industrial Corp. (Malaysia) Berhad (EHIC(M)) Evergreen Shipping Agency(Deutschland) GmbH (EGD) Evergreen Shipping Agency(Ireland) Ltd. (EGUD) Evergreen Shipping Agency(Netherlands) B.V. (EGN) Evergreen Shipping Agency(Poland) SP.ZO.O (EGD- WWX) ( ) 132

135 2011 Annual Report Evergreen Argentina S.A. (EGB) Evergreen Shipping Agency France S.A.S. (EGF) Evergreen Shipping (Spain) S.L. (EES) Evergreen Shipping Agency (Italy) S.p.A (EIT) Evergreen Shipping Agency (Vietnam) Corp.(EGV) Island Equipment LLC. (Island) Armand Investment (Netherlands) N.V. (Armand N.V.) Evergreen Shipping Agency (Australia) Pty. Ltd. (EMA) PT. Evergreen Shipping Agency Indonesia (EMI) Evergreen Shipping Agency (Thailand) Co., Ltd. (EGT) Evergreen Shipping Agency (Singapore) Pte. Ltd. (EGS) Evergreen Shipping Agency (Korea) Corporation (EGK) Evergreen Shipping Agency (India) Pvt. Ltd. (EGI) Evergreen Shipping Agency (Russia) Ltd. (ERU) Ample Holding Ltd. (Ample) Armand Estate B.V. (Armand B.V.) Evergreen Agency (South Africa) (PTY) Ltd. (ESA) Whitney Equipment LLC. (Whitney) Hemlock Equipment LLC. (Hemlock) Luanta Investment (Netherlands) N.V. (Luanta) Balsam Investment (Netherlands) N.V. (Balsam) (NVC) (QECT) Colon Container Terminal S.A. (CCT) Green Peninsula Agencies SDN. BHD. (GPA) Evergreen Container Terminal (Thailand) Ltd. (ECTT) Evergreen Shipping Agency Co.(U.A.E.) LLC.(UAE) Taranto Container Terminal S.p.A. (TCT) Italia Marittima S.p.A.(ITS) Gaining Enterprise S.A. (GESA) Seaside Transportation Service LLC. (STS) Sinotrans Group Shenzhen Co.(SGSC) ( ) ( ) Luanta Balsam Island SGTC 133

136 ( ) (%) (%) $ 1,900, $ 1,824, , ,864 1 GMS 87, ,213 3 EIS 59, ,921 - EMS 54,812-36,989 - ITS 40,625-19,816 - EMU 33,821-35,458 - GESA 31,026-28,510 - EGH 23,644-21,646-2,946-2,930 - $ 2,325, $ 2,532, (%) (%) $ 684,593 4 $ 672, , , , , , ,697-45, ,718 - GESA 1,552, ,660, GMS 41, ,542 2 EGH 33,555-47,689 - EMS 32, EMI 28,170-35,203 - EGT 20,732-17,884 - EGD 9,097-11,490 - EGS 11,744-11,204 - EGV 10,111-8,102-30,142-34,004 - $ 3,489, $ 3,959,

137 2011 Annual Report 3. (1) $ 3,351 $ ,254 - " - 492,993 - " - 470,324 - EHIC(M) - 1,690,051 - $ 3,158,973 $ 274 (2) $ 1,626 $ - $ - $ " 9,666 9, " $ 11,487 $ 9,697 $ 88 $ (1) ( ) (%) (%) $ 95, $ 94, " 1, , , $ 98, $ 96,

138 (2) ( ) (%) (%) $ 43, $ 43, $ 43, $ 43, (3) ( ) (%) (%) $ 369, $ 603, GESA 1,552, ,660, GMS 41, ,542 8 EMS 32, ITS 3, $ 2,000, $ 2,506, ( ) (%) (%) $ 71,856 9 $ 61, , ,062 2 ITS 12, ,362-24, ,173 3 $ 131, $ 106,

139 2011 Annual Report (%) (%) $ 71, $ 62, EIS 70, ,041-6, ,946 2 $ 148, $ 74, (%) (%) $ 38,695 2 $ 50, , , ,728-12,208 1 GMS 135, ,280 2 ITS 179, ,040-10,770 - $ 396, $ 133,716 9 ( ) USD 14,800 USD 5,000 GMS USD 915,837 USD 774,833 EMU USD 1,730,816 USD 605,927 CCT USD 9,600 USD 9,600 Whitney USD 94,164 USD 94,164 TCT USD 20,250 USD 20,772 Hemlock USD 57,810 USD 20,600 Balsam USD 49,000 USD 49,000 ESA USD - USD 2,

140 ( ) $71,856 $61, $940 $1, GMS $ 15,396 $ 9,660 EMS 10,436 9,983 EMU 7,793 6,313 GESA 7,345 8,920 EGH 4,308 3,821 EIS 3,468 2,734 $ 48,746 $ 41,

141 2011 Annual Report 5. ( ) (1) EGI $ 76,227 $ 1,932 EMI 21,245 15,352 EIT 12,822 4,381 EGT 9,660 10,877 EGD 2,421 - ESA 1, EGS EGK EGUD EGD-WWX EES $ 126,001 $ 34,045 (2) $ 16,486 $ 2,063 EGN 83,252 75,829 EGV 3,722 22,565 ERU 1,133 - UAE EMA EGF 38 7 EES 10 - EGD - 1,721 EGK EGUD EGS - 98 $ 104,850 $ 102,

142 6. Gaining Enterprise S.A.Greencompass Marine S.A.Italia Marittima S.p.A.Evergreen Marine (UK) Ltd. Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte.Ltd. ( ) (1) GMS $ 855,421 $ 623,468 EIS 794, ,832 ITS 282, ,771 EMU 43,492 - EMS 31,483 - GESA 20,853 27,909 $ 2,028,261 $ 1,585,980 (2) EGH $ 96,977 $ 102,294 EMS - 83,047 EMU - 2,750 $ 96,977 $ 188, ( ) $ 85,711 $ 89,595 GMS 78,576 71,252 EIS 54,520 49,054 EMS 29,423 30,916 EMU 28,313 30,550 GESA 23,088 20,937 EGH 21,243 19,405 ITS 9,073 8,426 $ 329,947 $ 320,

143 2011 Annual Report ( ) $ 32,868 $ 39,742 2,606 2,521-56,012 $ 35,474 $ 98, ( ) 99 $50, $ 121,790 $ 275,751 1,800,093 1,800, , ,659 ( ) 1,631,851 1,670,471 $ 4,367,623 $ 4,585, USD5, (85) ( )

144 USD115,000 5,449,592 54,495, ,438 6,267,030 62,670, USD115, ,085,856 20,858, ,975, ,446 3,774, $39,361,699 $16,642, USD 59,841 1~2 41,927 USD 101, $19,252, Samsung Heavy Industries Co., Ltd. 13 USD1,339, Greencompass Marine S.A. Evergreen Marine (UK) Ltd USD412,000 USD267, USD309,000 USD293, ( ) $3,000,000 $1, % 142

145 2011 Annual Report ( ) ( ) $ 5,670,482 $ - $ 5,670,482 1,548,548-1,548,548 10,003 10,003-2,220,851 2,220,851-62,959-62, , , , , , , , ,000 1,344, ,037-46,037 2,777,838-2,777,838 ( ) 2,955,661-2,955,661 ( ) 22,713,106-22,713, ,163-5,

146 $ 3,481,722 $ - $ 3,481,722 1,369,016-1,369, ,908,594 1,908, , , , , , , , , ,170,000-1,170,000 1,344, ,416-42,416 2,603,172-2,603,172 1,940,106-1,940,106 ( ) 3,374,875-3,374,875 ( ) 11,974,271-11,974, ,338-72, , , , ,

147 2011 Annual Report 1. ( ) ( ) ( ) $33,688 $31,442 $341,288 $324, $387,812 $264,796 $35,957 $0 ( ) $964,377 $1,139,897 $19,719,302 $11,983,

148 ( ) $ 3,682,926 $ - $ - $ - $ 3,682,926 ( 200,000 ) ( 200,000 ) ( 200,000 ) ( 2,400,000 ) ( 3,000,000 ) $ 964,377 $ - $ - $ - $ 964,377 ( 1,303,572 ) ( 4,023,632 ) ( 5,476,812 ) ( 8,915,286 ) ( 19,719,302 ) 146

149 2011 Annual Report , , , , ,484, ,599, , ,

150 $ 2,230,854 $ 2,230,854 62,959 62,959 1,170,000 1,170, , ,904 1,344,119 1,344, $ 1,908,928 $ 1,908, , ,287 1,170,000 1,170, , ,108 1,344,595 1,344,

151 2011 Annual Report (101) ,329,398 25,791, % 28.77% ,089,769 6,729,189 PricewaterhouseCoopers Taiwan / 27F, 333 Keelung Rd., Sec. 1, Taipei, Taiwan T: +886 (2) , F:+ 886 (2) , 105

152

153 2011 Annual Report % % % % 1100 (()) $ 5,670,482 6 $ 3,481, (()) $ - - $ 2,603, (()) 2,230, ,908,928 2 (()) 5, , (()) 800, ,640, ,321, , () 396, , (()) 686, , (()) 29, (()) 131, , , , , , , , () 148,853-74, , (()) , , ,885 - (()) 4,459, ,891, , , () 340, , ,689-7,724-21XX 7,613, ,636, (()) 254, , () 121, , (()) - - 2,218, (()) 2,524, ,994, (()) 21,209, ,238, XX 13,655, ,968, XX 21,209, ,457, (()) 1,331, ,065 1 (()) 62, , (()) 602, , (()) 1,273, ,446, (()) 370,000-1,170, , , (()) 1,344, ,344, XX 2,933, ,738, (()) 61,672, ,527, XXX 31,756, ,832, XX 64,053, ,104, (()) (()) ,734, ,248, ,972, ,972,540 2 (()) ,360, ,512, ,805, ,456, ,261, ,530, , , ,606, ,611, ,076, ,346, , , ,596, ,110, ,713-6, , ,750 - (()) 15XY 23,593, ,796, ,102, ,586, X9 ( 13,504,192) ( 14) ( 12,912,384) ( 14) ,579, , ,918, ,476, ,862, ,407, XX 15,007, ,360, ( 2,656,053) ( 3) ( 5,055,677) ( 6) 1770 (()) 14,465-16, ( 1,229,959) ( 1) ( 707,771) ( 1) ,733-1,184, ,037-42,416-3XXX 61,165, ,823, , ,968 - () 18XX 191, ,384 - () 1XXX $ 92,922, $ 89,656, XXX $ 92,922, $ 89,656,

154 ( ( ) ) % % 4000 (()) $ 15,361, $ 17,026, (()) ( 14,631,091) ( 95) ( 15,252,701) ( 89) , ,773, (()) ( 1,505,462) ( 10) ( 1,688,343) ( 10) 6900 () ( 775,318) ( 5) 84, ,721-35, (()) ,595, ,605-83, () 959, ,070, , , , () 99, , (()) 236, , (()) 149, , ,630, ,395, ( 341,288) ( 2) ( 324,799) ( 2) 7521 (()) ( 3,595,320) ( 24) ( 7,919) - ( 2,426) ( 194,214) ( 1) 7580 ( 17,207) - ( 18,509) (()) ( 33,383) - ( 72,835) ( 1) 7880 ( 6,413) - ( 3,088) ( 4,001,530) ( 26) ( 615,871) ( 4) 7900 () ( 3,146,708) ( 20) 15,864, ()(()) 54,347 - ( 699,431) ( 4) 9600 () ($ 3,092,361) ( 20) $ 15,165, ()(()) 9750 () ($ 0.91) ($ 0.89) $ 4.70 $ 4.49 ()(()) 9850 () ($ 0.91) ($ 0.89) $ 4.54 $

155 2011 Annual Report $ 30,625,992 $ 6,675,194 $ 7,586,240 $ 957,344 $ 8,242,423 $ 640,363 ($ 483,688) $ 207,729 $ 54,451, , , ,278,024 - (127,826) ( 127,826) ( 1,075,152 ) ( 68,319) 711,600 ( 431,870) ( 4,620,888 ) - - ( 4,620,888) ( 155,764) - ( 155,764) , , ,165, ,165, $ 31,248,395 $ 7,202,990 $ 7,586,240 $ 957,344 $ 23,407,874 ($ 5,055,677) ($ 707,771) $ 1,184,125 $ 65,823, $ 31,248,395 $ 7,202,990 $ 7,586,240 $ 957,344 $ 23,407,874 ($ 5,055,677) ($ 707,771) $ 1,184,125 $ 65,823,520 99() - - 1,516,545 - (1,516,545) ,621,980 (3,621,980) ,157, (3,157,544) (3,157,544) ( 3,157,544) 328, , ,979 - ( 67,494) ( 67,494) - ( 4,441) ,021 ( 212,794) ( 539,536) ( 438,627) ,081, ,081, ( 309,394) - ( 309,394) ( 351,856) ( 351,856) ( 3,092,361) ( 3,092,361) $ 34,734,581 $ 7,480,392 $ 9,102,785 $ 4,579,324 $ 8,862,023 ($ 2,656,053) ($ 1,229,959) $ 292,733 $ 61,165,826 99$55,000$40,

156 () ( $ 3,092,361) $ 15,165,451 1,559,320 1,616,004 13,555 23, , ,743 43,029 54,195 ( 951,120) ( 1,067,784) () 4,500,822 ( 14,361,424) ( 61,631) ( 6,828) 190, ,914 ( 42,500) - ( 535,113) 1,346,892 35,913 ( 144,684) ( 215,445) 525, ,383 80,525 ( 38,884) 74,002 ( 1,590) 28, ,961 ( 28,877) ( 239,951) 338,758 ( 533,395) ( 506,630) ( 1,154) 47,529 ( 3,621) , ,243 29, ,353 ( 72,075) ( 118,864) 105,653 ( 1,569) 2,568 ( 9,528) 11,676 56,133 81,000 ( 111,224) 699,330 1,978,787 4,815,861 ( 343,479) ( 554,195) - ( 470,000) - 460,000-44,849-62, ,674 ( 2,873) - ( 6,446,569) ( 2,523,607) 1,956,321 1,176,619 ( 35,064) ( 22,977) ( 4,764,708) ( 1,737,486) () ( 2,603,172) 441,015 - ( 99,959) () 10,735,397 ( 2,019,405) - 24 ( 3,157,544) - () 4,974,681 ( 1,678,325) 2,188,760 1,400,050 3,481,722 2,081,672 $ 5,670,482 $ 3,481,722 $ 207,353 $ 133,992 ( 45,572) ( 7,000) $ 161,781 $ 126,992 $ 2,510 $ 2,404 $ 4,459,233 $ 4,891,791 $ 658,600 $ 1,247,

157 2011 Annual Report / ( ) ,230 ( ) ( ) ( ) 1. (1) (2) 111

158 (3) (4) 2. (1) (2) (3) (4) ( ) ( ) / ( ) 5. (1) (2) (3) ( ) /

159 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( )

160 ( ) ( ) 3 ( ) ( ) (1) (2) (3) (4)

161 2011 Annual Report ( ) 15 ( ) 1. ( ) % ( ) (96) (97) 127 ( ) ( ) ( )

162 ( ) ( ) ( ) 100 ( ) ( ) ( ) ( ) $ 5,639 $ 4,569 1,017, , , , , ,534 3,065, , , , ,664 - ( ) ( ) 3,148 ( 41,311 ) $ 5,670,482 $ 3,481,

163 2011 Annual Report ( ) $ 10,292 $ 290 2,343,997 2,041,462 2,354,289 2,041,752 ( 123,435 ) ( 132,824 ) $ 2,230,854 $ 1,908,928 $ 100,000 $ 100,000 ( 37,041 ) 4,287 $ 62,959 $ 104, $33,383 $72,835 ( ) ( ) $ 490,801 $ 490,801 ( ) 1,523 3, , , , ,436 $ 602,904 $ 957,108 ( ) $ 800,000 $ - $ 370,000 $ 1,170,000 ( ) $ 1,344,119 $ 1,344,

164 1. ( : ( ) ) % $10 $62,107 $476 $61, ( ) $ 686,108 $ 772,043 ( ): ( ) ( 735 ) ( 23,461 ) 686, , , ,501 $ 817,849 $ 855,083 ( ) $ - $ 158,383 ( ) $ 446,048 $ 359,587 2,028,261 1,585,980 50,497 49,343 $ 2,524,806 $ 1,994, Gaining Enterprise S.A.Greencompass Marine S.A.Italia Marittima S.p.A.Evergreen Marine (UK) Ltd. Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte. Ltd. 118

165 2011 Annual Report ( ) Peony Investment S.A % $ 44,769,469 $ 46,686,907 ( ) Everport Terminal Services Inc % 3,028 - ( ) 55.00% 87,777 94,813 ( ) 40.00% 609, ,326 ( ) 39.74% 7,991,293 8,418,428 ( ) 31.25% 89,111 77,345 ( ) 19.32% 7,315,432 7,848,925 ( ) 21.03% 807, ,142 $ 61,672,912 $ 64,527, ( ) Peony Investment S.A. ($ 3,998,886 ) $ 11,773,770 ( ) Everport Terminal Services Inc. - - ( ) 4,767 6,529 ( ) 59,868 56,468 ( ) 305, ,099 ( ) 11,766 3,425 ( ) 40,375 2,321,099 ( ) ( 19,133 ) ( 37,335 ) ($ 3,595,320 ) $ 14,595, ( ( ) ) 10 ( ) - ( ) 86, Everport Terminal Services Inc USD % 119

166 ( ) $ 1,972,540 $ - $ 1,972,540 1,360,388 ( 511,419) 848,969 4,261,946 ( 3,813,161) 448, ,766 ( 93,263) 27,503 12,076,977 ( 6,887,305) 5,189,672 3,596,904 ( 2,023,869) 1,573, ,662 ( 175,175) 28,487 23,593,183 ( 13,504,192) 10,088,991 4,918,166-4,918,166 $ 28,511,349 ($ 13,504,192) $ 15,007, $ 1,972,540 $ - $ 1,972,540 1,512,002 ( 500,059) 1,011,943 4,530,476 ( 3,838,906) 691, ,390 ( 98,203) 16,187 11,346,789 ( 6,569,182) 4,777,607 2,110,916 ( 1,730,638) 380, ,750 ( 175,396) 34,354 21,796,863 ( 12,912,384) 8,884,479 2,476,296-2,476,296 $ 24,273,159 ($ 12,912,384 ) $ 11,360, USD109,620 USD48,000 GARD P&I (PROTECTION & INDEMNITY) USD8,000,000 USD5,000, $1,135,682 $1,416, $742,135 $768, USD255,161 USD243, $45,

167 2011 Annual Report ( ) $ - $ 2,602,020-1,152 $ - $ 2,603,172 ( ) $ - $ 72, ,141 5, ,928 $ 5,163 $ 604, $236,346 $407, ( ) $ 2,955,661 $ 1,156,100 1,503,572 3,735,691 $ 4,459,233 $ 4,891,791 ( ) $ 594,100 $ 1,252,700 2,500,000 2,500,000 ( 138,439) ( 377,825 ) 2,955,661 3,374,875 ( 2,955,661 ) ( 1,156,100 ) $ - $ 2,218, ( ) $2,500,000 (1) (2) 0% 121

168 (3) (4) a. ( ) b. ( ) ( ) 14 c. ( ) (5) ( ) (6) a %( ) 30 b % c. (7) a ( ) b %~110% 122

169 2011 Annual Report (8) ( ) 3 ( ) ( ) ( ) (9) ( ) $2,500,000 (1) (2) 0% (3) (4) (5) a %( ) 30 b $250,000( 10%) c. (6)

170 2 3 ( % 0.5% % 0.5%) (7) a ( ) b % (8) ( ) 3 ( ) ( ) ( ) (9) $1,905,900 - $1,004,958 - $195, $256,

171 2011 Annual Report ( ) $ 2,400,000 $ 1,500,000 20,277,412 10,564,745 () ( ) 41,890 ( 80,840 ) - ( 6,196 ) ( 9,634 ) 22,713,106 11,974,271 ( 1,503,572 ) ( 3,735,691 ) $ 21,209,534 $ 8,238,580 ( ) ( ) % 125

172 2. (1) % 2.25% 2.00% 2.00% 2.00% 2.00% (2) ($ 243,725 ) ($ 233,057 ) ( 1,459,512 ) ( 1,126,857 ) ( 1,703,237 ) ( 1,359,914 ) ( 209,470 ) ( 307,866 ) ( 1,912,707 ) ( 1,667,780 ) 371, ,849 ( 1,541,455 ) ( 1,275,931 ) ,465 16,073 1,118, ,767 ( 923,760 ) ( 615,974 ) ($ 1,331,985 ) ($ 968,065 ) (3) $ 20,797 $ 30,517 37,168 30,538 ( 9,949 ) ( 10,765 ) - 20,076 1,607 1,607 56,999 33,401 $ 106,622 $ 105,

173 2011 Annual Report % $132,760 $134,634 ( ) $36,000,000 $34,734,581 3,473, ( ) ( ) 32,864 $ 328,642 62,240 $ 622,403 ( ) ( ) ( ) 1. 10% 0.5% 5% 10% 2. 25% 3. ( ) 127

174 ( ) ( ) $ 1,516,545 $ - 3,621,980-3,157,544 $ $ - 3,157, $40,000 $55, ( ) $ 14,558,973 $ 16,049, , , , , , ,074 $ 15,361,235 $ 17,026,011 ( ) ( ) ($ 54,347 ) $ 699,431 ( ) ( 3,985 ) ( 2,303 ) - ( 101 ) ( 23,194 ) - 111,224 ( 699,330 ) ( ) $ 29,698 ($ 2,303 ) 128

175 2011 Annual Report ( ) : $ 254,120 $ 315,710-69,952 60, ( 1,343,637 ) ( 1,506,528 ) - - ($ 1,019,565 ) ($ 1,130,789 ) 2. ( ) : $ 1,937 $ 329 $ 1,766 $ ,843 4,903 44,300 7, ,424 22, ,424 22, ,501 57, , ,186, ,648 1,222, ,843-24,833-19,830 $ 254,120 $ 315,710 $ - $ - $ 1,020 $ ,225 69, ,091 59,856 ( 7,903,745 ) ( 1,343,637 ) ( 8,861,931 ) ( 1,506,528) 3, ($ 1,273,685 ) ($1,446,499) $36,000 $24,

176 $ 2,456,334 $ 417,577 $ 201, $ 5,570,596 $ 5,570, ,291,427 17,837,278 $ 8,862,023 $ 23,407, $1,013,143 $2,509, % % ( ) ( ) 100 ( ) ( ) ($ 3,146,708 ) ($ 3,092,361 ) 3,469,771 ($ 0.91 ) ($ 0.89 ) ($ 3,146,708 ) ($ 3,092,361 ) 3,469,771 ($ 0.91 ) ($ 0.89 )

177 2011 Annual Report 99 ( ) ( ) $ 15,864,882 $ 15,165,451 3,377,843 $ 4.70 $ ,693 47, , ,652 $ 15,912,575 $ 15,213,144 3,507,720 $ 4.54 $ ( ) : 100 $ 293,980 $ 773,142 $ 1,067,122 17,024 57,711 74,735 26, , ,760 17,030 25,293 42,323 1,520,794 38,526 1,559, ,744 13, , $ 269,234 $ 943,984 $ 1,213,218 13,322 56,339 69,661 10, , ,634 18,789 23,997 42,786 1,575,148 40,856 1,616, ,743 23, ,

178 ( ) (EIS) (Evergreen International S.A.) ( ) ( ) ( ) (Peony Investment S.A.) Everport Terminal Services Inc.(ETS) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Evergreen Marine (Singapore) Pte. Ltd.EMS Evergreen Marine (Hong Kong) Ltd.(EGH) ( ) ( ) (SGTC) ( ) (KTIL) Vigor Enterprise S.A. (VIGOR) Clove Holding Ltd. (CLOVE) Evergreen Marine (UK) Ltd. (EMU) PT. Multi Bina Transport (MBT) PT. Multi Bina Pura International (MBPI) Greencompass Marine S.A. (GMS) Evergreen Heavy Industrial Corp. (Malaysia) Berhad (EHIC(M)) Evergreen Shipping Agency(Deutschland) GmbH (EGD) Evergreen Shipping Agency(Ireland) Ltd. (EGUD) Evergreen Shipping Agency(Netherlands) B.V. (EGN) Evergreen Shipping Agency(Poland) SP.ZO.O (EGD- WWX) ( ) 132

179 2011 Annual Report Evergreen Argentina S.A. (EGB) Evergreen Shipping Agency France S.A.S. (EGF) Evergreen Shipping (Spain) S.L. (EES) Evergreen Shipping Agency (Italy) S.p.A (EIT) Evergreen Shipping Agency (Vietnam) Corp.(EGV) Island Equipment LLC. (Island) Armand Investment (Netherlands) N.V. (Armand N.V.) Evergreen Shipping Agency (Australia) Pty. Ltd. (EMA) PT. Evergreen Shipping Agency Indonesia (EMI) Evergreen Shipping Agency (Thailand) Co., Ltd. (EGT) Evergreen Shipping Agency (Singapore) Pte. Ltd. (EGS) Evergreen Shipping Agency (Korea) Corporation (EGK) Evergreen Shipping Agency (India) Pvt. Ltd. (EGI) Evergreen Shipping Agency (Russia) Ltd. (ERU) Ample Holding Ltd. (Ample) Armand Estate B.V. (Armand B.V.) Evergreen Agency (South Africa) (PTY) Ltd. (ESA) Whitney Equipment LLC. (Whitney) Hemlock Equipment LLC. (Hemlock) Luanta Investment (Netherlands) N.V. (Luanta) Balsam Investment (Netherlands) N.V. (Balsam) (NVC) (QECT) Colon Container Terminal S.A. (CCT) Green Peninsula Agencies SDN. BHD. (GPA) Evergreen Container Terminal (Thailand) Ltd. (ECTT) Evergreen Shipping Agency Co.(U.A.E.) LLC.(UAE) Taranto Container Terminal S.p.A. (TCT) Italia Marittima S.p.A.(ITS) Gaining Enterprise S.A. (GESA) Seaside Transportation Service LLC. (STS) Sinotrans Group Shenzhen Co.(SGSC) ( ) ( ) Luanta Balsam Island SGTC 133

180 ( ) (%) (%) $ 1,900, $ 1,824, , ,864 1 GMS 87, ,213 3 EIS 59, ,921 - EMS 54,812-36,989 - ITS 40,625-19,816 - EMU 33,821-35,458 - GESA 31,026-28,510 - EGH 23,644-21,646-2,946-2,930 - $ 2,325, $ 2,532, (%) (%) $ 684,593 4 $ 672, , , , , , ,697-45, ,718 - GESA 1,552, ,660, GMS 41, ,542 2 EGH 33,555-47,689 - EMS 32, EMI 28,170-35,203 - EGT 20,732-17,884 - EGD 9,097-11,490 - EGS 11,744-11,204 - EGV 10,111-8,102-30,142-34,004 - $ 3,489, $ 3,959,

181 2011 Annual Report 3. (1) $ 3,351 $ ,254 - " - 492,993 - " - 470,324 - EHIC(M) - 1,690,051 - $ 3,158,973 $ 274 (2) $ 1,626 $ - $ - $ " 9,666 9, " $ 11,487 $ 9,697 $ 88 $ (1) ( ) (%) (%) $ 95, $ 94, " 1, , , $ 98, $ 96,

182 (2) ( ) (%) (%) $ 43, $ 43, $ 43, $ 43, (3) ( ) (%) (%) $ 369, $ 603, GESA 1,552, ,660, GMS 41, ,542 8 EMS 32, ITS 3, $ 2,000, $ 2,506, ( ) (%) (%) $ 71,856 9 $ 61, , ,062 2 ITS 12, ,362-24, ,173 3 $ 131, $ 106,

183 2011 Annual Report (%) (%) $ 71, $ 62, EIS 70, ,041-6, ,946 2 $ 148, $ 74, (%) (%) $ 38,695 2 $ 50, , , ,728-12,208 1 GMS 135, ,280 2 ITS 179, ,040-10,770 - $ 396, $ 133,716 9 ( ) USD 14,800 USD 5,000 GMS USD 915,837 USD 774,833 EMU USD 1,730,816 USD 605,927 CCT USD 9,600 USD 9,600 Whitney USD 94,164 USD 94,164 TCT USD 20,250 USD 20,772 Hemlock USD 57,810 USD 20,600 Balsam USD 49,000 USD 49,000 ESA USD - USD 2,

184 ( ) $71,856 $61, $940 $1, GMS $ 15,396 $ 9,660 EMS 10,436 9,983 EMU 7,793 6,313 GESA 7,345 8,920 EGH 4,308 3,821 EIS 3,468 2,734 $ 48,746 $ 41,

185 2011 Annual Report 5. ( ) (1) EGI $ 76,227 $ 1,932 EMI 21,245 15,352 EIT 12,822 4,381 EGT 9,660 10,877 EGD 2,421 - ESA 1, EGS EGK EGUD EGD-WWX EES $ 126,001 $ 34,045 (2) $ 16,486 $ 2,063 EGN 83,252 75,829 EGV 3,722 22,565 ERU 1,133 - UAE EMA EGF 38 7 EES 10 - EGD - 1,721 EGK EGUD EGS - 98 $ 104,850 $ 102,

186 6. Gaining Enterprise S.A.Greencompass Marine S.A.Italia Marittima S.p.A.Evergreen Marine (UK) Ltd. Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte.Ltd. ( ) (1) GMS $ 855,421 $ 623,468 EIS 794, ,832 ITS 282, ,771 EMU 43,492 - EMS 31,483 - GESA 20,853 27,909 $ 2,028,261 $ 1,585,980 (2) EGH $ 96,977 $ 102,294 EMS - 83,047 EMU - 2,750 $ 96,977 $ 188, ( ) $ 85,711 $ 89,595 GMS 78,576 71,252 EIS 54,520 49,054 EMS 29,423 30,916 EMU 28,313 30,550 GESA 23,088 20,937 EGH 21,243 19,405 ITS 9,073 8,426 $ 329,947 $ 320,

187 2011 Annual Report ( ) $ 32,868 $ 39,742 2,606 2,521-56,012 $ 35,474 $ 98, ( ) 99 $50, $ 121,790 $ 275,751 1,800,093 1,800, , ,659 ( ) 1,631,851 1,670,471 $ 4,367,623 $ 4,585, USD5, (85) ( )

188 USD115,000 5,449,592 54,495, ,438 6,267,030 62,670, USD115, ,085,856 20,858, ,975, ,446 3,774, $39,361,699 $16,642, USD 59,841 1~2 41,927 USD 101, $19,252, Samsung Heavy Industries Co., Ltd. 13 USD1,339, Greencompass Marine S.A. Evergreen Marine (UK) Ltd USD412,000 USD267, USD309,000 USD293, ( ) $3,000,000 $1, % 142

189 2011 Annual Report ( ) ( ) $ 5,670,482 $ - $ 5,670,482 1,548,548-1,548,548 10,003 10,003-2,220,851 2,220,851-62,959-62, , , , , , , , ,000 1,344, ,037-46,037 2,777,838-2,777,838 ( ) 2,955,661-2,955,661 ( ) 22,713,106-22,713, ,163-5,

190 $ 3,481,722 $ - $ 3,481,722 1,369,016-1,369, ,908,594 1,908, , , , , , , , , ,170,000-1,170,000 1,344, ,416-42,416 2,603,172-2,603,172 1,940,106-1,940,106 ( ) 3,374,875-3,374,875 ( ) 11,974,271-11,974, ,338-72, , , , ,

191 2011 Annual Report 1. ( ) ( ) ( ) $33,688 $31,442 $341,288 $324, $387,812 $264,796 $35,957 $0 ( ) $964,377 $1,139,897 $19,719,302 $11,983,

192 ( ) $ 3,682,926 $ - $ - $ - $ 3,682,926 ( 200,000 ) ( 200,000 ) ( 200,000 ) ( 2,400,000 ) ( 3,000,000 ) $ 964,377 $ - $ - $ - $ 964,377 ( 1,303,572 ) ( 4,023,632 ) ( 5,476,812 ) ( 8,915,286 ) ( 19,719,302 ) 146

193 2011 Annual Report , , , , ,484, ,599, , ,

194 $ 2,230,854 $ 2,230,854 62,959 62,959 1,170,000 1,170, , ,904 1,344,119 1,344, $ 1,908,928 $ 1,908, , ,287 1,170,000 1,170, , ,108 1,344,595 1,344,

195 2011 Annual Report ( ) ( 1) ( 2) (%) ( 34) 0 Greencompass Marine S.A. 3 $ 130,701,004 $ 27,728,344 $ 27,728,344 $ % $ 163,376,255 (USD 915,837 ) (USD 915,837 ) 0 Peony Investment S.A ,701, , , % (USD 14,800 ) (USD 14,800 ) 0 Evergreen Marine (UK) Ltd ,701,004 52,403,055 52,403, % (USD 1,730,816 ) (USD 1,730,816 ) 0 Taranto Container Terminal S.p.A. 6 32,675, , , % (USD 20,792 ) (USD 20,250 ) 0 Whitney Equipment LLC ,701,004 2,870,590 2,850, % (USD 94,164 ) (USD 94,164 ) 0 Hemlock Equipment LLC ,701,004 1,762,338 1,750, % (USD 57,810 ) (USD 57,810 ) 0 Colon Container Terminal S.A. 6 32,675, , , % (USD 9,600 ) (USD 9,600 ) 0 Balsam Investment (Netherlands) N.V. 6 32,675,251 1,493,765 1,483, % (USD 49,000 ) (USD 49,000 ) 0 Evevgreen Agency (South Africa) (PTY) Ltd ,701, , % (USD 4,000 ) (USD- ) % 65,350,502 x 250% 163,376,

196 3. (%) 4,765 $ 44,769, $ 44,930,636 5,500 87, ,777 Everport Terminal Services Inc. 1 3, ,028 47, , , ,062 7,991, ,000,482 12/31 5,280 89, , ,483 7,315, ,086,078 12/31 88, , ,459-1,290 12, , , ,735 1,250, ,140 7,000 43, ,869 Linden Technologies,Inc , Toplogis,Inc. 2,464 22, ,195-46, , ,008 12/ , ,896 12/ / , ,810 12/31 150

197 2011 Annual Report (%) - 37,185 $ 563,121 - $ 563,121 4,609 60,408-60,408 26, , ,411 4, , ,039 8, , ,642 25, , , , , ,959-62, , , (B ) - 100, , ,000-50,

198 ,882 $ 510, ,760 $ 1,550,000 99,457 $ 1,500,187 $1,498,883 $ 1,304 37,185 $ 561,122 10, , ,519 1,340,000 95,655 1,150,086 1,148,871 1,215 25, , ,531 1,290,000 3, , , , , , , , ,000 5,754 90,000 28, ,000 8, , , , ,055 12, ,021 32, ,000 45, , , , ,011 56, ,000 98,263 1,191,190 1,190,011 1, , , , , ,

199 2011 Annual Report ( ) 2011/5/ /11/30 $ 135,264 $ 300,366 ( ) $ 165,

200 7. ( ) ( ) ( ) ( ) ( ) $ 551,703 3% 30~60 $ - - ($ 10,728) 1% 360,052 2% 30~ ( 22,761) 1% 1,900,307 12% 30~ ,856 9% 684,593 4% 30~ ( 38,695) 2% Gaining Enterprise S.A. 1,552,673 10% 30~

201 2011 Annual Report 8. $ 143,272 $ - - $ 134,803 $ - 9. ( ) 155

202 ( ) 1. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 476,500 USD 476,500 4, $ 44,769,469 ($ 3,832,744 ) ($ 3,998,886 ) ( ) ,000 55,000 5, ,777 8,667 4,767 Everport Terminal Services Inc Orange Street in the city of Wilmington, Country of New Castle USD 100 USD , ( ) , ,000 47, , ,671 59,868 ( ) 899 4,753,514 4,753, , ,991, , ,923 ( ) ,000 25,000 5, ,111 37,652 11,766 ( ) ,767,879 10,767, , ,315, ,027 40,375 ( ) , ,731 88, ,008 ( 90,963 ) ( 19,133 ) Clove Holding Ltd. Craigmuir Chambers, P. O. Box71, Road Town, Tortola, B.V.I. USD 52,549 USD 52, USD 64,025 USD 52,349 USD 52,349 Evergreen Shipping Agency (Deutschland) GmbH Evergreen Building Amsinckstrasse Hamburg,Germany USD 8,316 USD 8, USD 8,909 USD 373 USD 373 Evergreen Shipping Agency (Ireland) Ltd. 22 Fiztwilliam Place, Dublin 2, Ireland USD 95 USD USD 205 USD 24 USD 24 Evergreen Shipping Agency (Korea) Corporation 12 Fl.,Royal Building 5, Dangju-Dong, Chongro-Ku, Seoul, Korea USD 2,426 USD 2, USD 1,379 (USD 89 ) (USD 89 ) Evergreen Shipping Agency (Netherlands) B.V. Evergreen Shipping Agency (Poland) SP. ZO.O PortCity -Havennummer 2235 Waalhaven ZZ JH Rotterdam, The Netherlands UL. SOLEC 22, WARSZAWA, POLAND Greencompass Marine S. A. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 3,977 USD 3, USD 4,966 USD 278 USD 278 USD 662 USD USD 551 USD 32 USD 32 USD 353,500 USD 353,500 3, USD 880,387 (USD 100,623 ) (USD 100,623 ) 156

203 2011 Annual Report Vigor Enterprise S.A. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 500 USD USD 512 (USD 15 ) (USD 15 ) Evergreen Shipping Agency (India) Pvt. Ltd. Mararhon Nextgon Innova"A"G01,Opp. Peninsula Corporate Park,Off G.K.Marg. Lower Parel (W), MUMBAI , IN- DIA USD 184 USD USD 2,859 USD 1,015 USD 1,015 Evergreen Argentina S.A. Pje. Carabelas 344, (C1009AAD), Buenos Aires. Argentina USD 140 USD USD 64 (USD 190 ) (USD 180 ) Evergreen Shipping Agency France S.A.S. Tour Franklin-La Defense 8, PARIS LA DEFENSE CEDEX-FRANCE. USD 907 USD USD 1,484 USD 195 USD 195 PT. Multi Bina Pura International JL. Raya Cakung Cilincing KM.4,Jakarta Utara 14260,Indonesia USD 20,204 USD 20, USD 20,438 USD 3,540 USD 3,364 PT. Multi Bina Transport JL. Raya Cakung Cilincing KM.4,Jakarta Utara 14260,Indonesia USD 804 USD USD 393 USD 918 USD 160 Evergreen Heavy Industrial Corp.(Malaysia) Berhad Lot 139, Jalan, Cecair, Phase 2 Free Trade Zone Johor Port Authority, Pasir Gudang, Johor, Johore Bahru, Malaysia USD 27,295 USD 27,295 42, USD 45,914 USD 5,719 USD 4,829 Armand Investment (Netherlands) N.V. Van Engelenweg 23, Curacao Netherlands Antilles USD 9,203 USD 9, USD 8,734 (USD 356 ) (USD 249 ) Evergreen Shipping (Spain) S.L. CALLE SIETE AGUAS, 11 - ENTLO VALENCIA, SPAIN USD 3,870 USD 3, USD 5,001 USD 4,442 USD 2,443 Evergreen Shipping Agency (Italy) S.p.A. SCALI CERERE, 9 LIVORNO ITALY USD 2,352 USD 2, USD 1,811 (USD 563 ) (USD 309 ) USD 3,134 USD 3, USD 3,191 (USD 122 ) (USD 67 ) Evergreen Marine (UK) Ltd. 160 Euston Road, London NW 12 DX, U.K. USD 1,503 USD 1, USD 98,097 (USD 59,660 ) (USD 30,427 ) Evergreen Shipping Agency (Australia) Pty. Ltd. Level 13,181 Miller Street, North Sydney NSW 2060 Australia USD 247 USD USD 416 USD 418 USD 282 Evergreen Shipping Agency (Russia) Ltd. Evergreen Office,11 Millionnaya Street, ST. Petersburg, RUSSIA USD 848 USD USD 976 USD 1,886 USD

204 Evergreen Shipping Agency (Singapore) Pte. Ltd. 200 Cantonment Road Southpoint, Singapore USD 2,157 USD 2, USD 4,720 USD 685 USD 349 Evergreen Shipping Agency (Thailand) Co., Ltd. Evergreen Shipping Agency (Vietnam) Corp. Green Tower, 24-25th Floors 3656/81 Rama IV Road Klongton Klongtoey Bangkok F, Fideco Tower Ham Nghi St., Dist. 1 Ho Chi Minh City, Vietnam USD 1,474 USD 1, USD 2,165 USD 1,388 USD 708 USD 454 USD USD 1,429 USD 2,330 USD 1,188 PT. Evergreen Shipping Agency Indonesia Evergreen Agency (South Africa) (PTY) Ltd. GD. MEGA PLAZA 9th Floor. Jl. H.R. Rasuna said kav. C-03 Jakarta 12920, Indonesia 98 RILEY ROAD BEDFORDVIEW, JOHAN- NESBURG 2007, South Africa USD 973 USD USD 2,168 USD 1,452 USD 740 USD 581 USD 581 5, USD 3,119 USD 2,417 USD 1,329 ( ) Luanta Investment (Netherlands) N.V. Balsam Investment (Netherlands) N.V. 295 Waalhaven Z.z. 19, PortCity, 3089JH Rotterdam 21-A Van Englenweg, Curacao, Netherlands, Antilles ( ) USD 2,000 USD 2, USD 2,556 USD 841 USD 168 USD 33,161 USD 27, USD 83,307 (USD 10,449 ) (USD 5,225 ) USD 122,696 USD 106, USD 47,366 (USD 164,908 ) (USD 80,805 ) 201 ( ) Green Peninsula Agencies SDN. BHD. Evergreen Shipping Agency Co.(U.A.E.) LLC 114 ( ) NO.7, JALAN JURUTERA U1/23, SECTION U1, HICOM GLENMARIE INDUSTRIAL PARK, SHAH ALAM, SELANGOR DARUL EHSAN, MALAYSIA. 5F,Shipping Tower,Al-Mina Road,P.O. BOX 34984,Dubai,U.A.E USD 1,199 USD 1, US D 2,257 USD 516 USD 206 USD 4,447 USD 4, USD 7,666 USD 3,117 USD 1,247 USD 7,255 USD 7,255 1, USD 7,203 USD 4,413 USD 1,324 USD 2,082 USD USD 2,082 USD 1,976 USD - ( ) 158

205 2011 Annual Report Armand Investment (Netherlands ) N.V. Armand Estate B.V. Clove Holding Ltd. Armand Estate B.V. Amsteldijk 166, 1079LH, Amsterdam USD 13,636 USD 13, USD 12,448 (USD 344 ) (USD 344 ) ( ) 7 25 Ample Holding Ltd. Craigmuir Chambers, P.O.BOX71, Road Town, Tortola,B.V.I USD 12,678 USD 12, USD 12,344 (USD 3,095 ) (USD 302 ) Armand Estate B.V. USD 9 USD USD 35,882 USD 3,828 USD 3,445 Island Equipment LLC. 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 144 USD USD 2,050 USD 984 USD 354 Ample Holding Ltd. Island Equipment LLC. Colon Container Terminal S.A. COCO SOLO NORTH ADM BUILDING PANAMA Whitney Equipment LLC Centerville Road, Suite 400, Wilmington, Delaware Hemlock Equipment LLC Centerville Road, Suite 400, Wilmington, Delaware USD 22,860 USD 22,860 22, USD 72,514 USD 10,091 USD 4,036 Ample Holding Ltd. USD 200 USD USD 1,883 USD 617 USD 617 USD 200 USD USD 4,271 USD 916 USD 916 Evergreen Marine (UK) Ltd. ( ) 295 Island Equipment LLC. 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA ( ) USD 2,000 USD 2, GBP 1,350 GBP 525 GBP 105 USD 60 USD GBP 493 GBP 614 GBP 92 PT. Multi Bina Pura International PT. Multi Bina Transport JL. Raya Cakung Cilincing KM.4,Jakarta Utara 14260,Indonesia USD 3,301 USD 3, IDR 14,929,939 IDR 8,045,989 IDR 5,869,

206 2. (%) ( 1) ( 2) ( 3) ( 3) 1 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. $ 45,728 $ 45,415 $ 45, $ - $ - - $ - $ 13,070,100 $ 26,140,201 Luanta Investment (Netherlands) N.V. 483, , , ~ ,070,100 26,140,201 2 Clove Holding Ltd. Island Equipment LLC. 143, ,070,100 26,140,201 3 Evergreen Marine (UK) Ltd. Island Equipment LLC. 59, ,070,100 26,140,201 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. 45,728 45,415 45, ,070,100 26,140, % 65,350,502*20%=13,070, % 65,350,502*40%=26,140,

207 2011 Annual Report 3. ( 1) ( 2) (%) ( 3 4) 1 Greencompass Marine S.A. Taranto Container Terminal S.p.A. 1 $ 180,902 $ 84,020 $ 84,020 $ % $ 74,638,695 (USD 2,775 ) (USD 2,775 ) GMSGMS 250% 29,855,478x250% 74,638,

208 4. (Peony Investment S.A.) Clove Holding Ltd. 10 USD 64, USD 64,025 Evergreen Shipping Agency (Deutschland) GmbH - USD 8, USD 8,909 Evergreen Shipping Agency (Ireland) Ltd. 0.1 USD USD 205 Evergreen Shipping Agency (Korea) Corporation 121 USD 1, USD 1,379 Evergreen Shipping Agency (Netherlands) B.V USD 4, USD 4,966 Evergreen Shipping Agency (Poland) SP.ZO.O 2 USD USD 551 Greencompass Marine S.A. 3,535 USD 880, USD 880,387 Vigor Enterprise S.A. 5 USD USD 512 Evergreen Shipping Agency (India) Pvt Ltd. 100 USD 2, USD 2,859 Evergreen Argentina S.A. 150 USD USD 64 Evergreen Shipping Agency France S.A.S. 5 USD 1, USD 1,484 PT Multi Bina Pura International 68 USD 20, USD 20,438 PT Multi Bina Transport 2 USD USD 393 Evergreen Heavy Industrial Corp. (Malaysia) Berhad 42,120 USD 45, USD 45,914 Armand Investment (Netherlands) N.V. 4 USD 8, USD 8,734 Evergreen Shipping (Spain) S.L. 3 USD 5, USD 5,001 Evergreen Shipping Agency (Italy) S.p.A USD 1, USD 1,811 Shenzhen Greentrans Transportation Co., Ltd.( ) - USD 3, USD 3,191 Evergreen Marine (UK) Ltd. 765 USD 98, USD 98,097 Evergreen Shipping Agency (Australia) Pty Ltd USD USD 416 Evergreen Shipping Agency (Russia) Ltd. - USD USD 976 Evergreen Shipping Agency (Singapore) Pte. Ltd. 765 USD 4, USD 4,720 Evergreen Shipping Agency (Thailand) Co., Ltd. 408 USD 2, USD 2,165 Evergreen Shipping Agency (Vietnam) Corp. - USD 1, USD 1,429 PT. Evergreen Shipping Agency Indonesia USD 2, USD 2,168 Evergreen Agency (South Africa) (PTY) Ltd. 5,500 USD 3, USD 3,

209 2011 Annual Report (Peony Kingtrans Intl. Logistics (Tianjin) Co., Ltd.( ( ) ) - USD 2, USD 2,556 Investment S.A.) Luanta Investment (Netherlands) N.V. 460 USD 83, USD 83,307 Balsam Investment (Netherlands) N.V USD 47, USD 47,366 Evergreen Shipping Agency Co. (U.A.E.) LLC - USD 2, USD 2,082 Ningbo Victory Container Co., Ltd.( ) - USD 2, USD 2,257 Qingdao Evergreen Container Storage & Transportation Co., Ltd. ( ) - USD 7, USD 7,666 Green Peninsula Agencies SDN. BHD. 1,500 USD 7, USD 7,203 Dongbu Pusan Container Terminal Co. Ltd USD 1, USD 1,556 Hutchison Inland Container Depots Ltd USD 1, USD 1,492 Colombo - South Asia Gateway Terminal 18,942 USD 2, USD 2,412 PT. Multi Bina Pura International PT. Multi Bina Transport 8 IDR 14,929, IDR 14,929,939 Clove Holding Ltd. Ample Holding LTD. 9 USD 35, USD 35,882 Island Equipment LLC. - USD 2, USD 2,050 Ample Holding Ltd. Colon Container Terminal S.A. Ample 22,860 USD 72, USD 72,514 Island Equipment LLC. Whitney Equipment LLC. Island - USD 1, USD 1,883 Hemlock Equipment LLC. - USD 4, USD 4,271 Evergreen Marine (UK) Ltd. Island Equipment LLC. EMU - GBP GBP

210 Evergreen Marine (UK) Limited Kingtrans Intl. Logistics (Tianjin) Co., Ltd.( ( ) ) - GBP 1, GBP 1,350 Evergreen Shipping Agency (UK) Limited EMU - - GBP GBP Lloyd triestino UK Limited - GBP GBP 0.3 Armand Investment (Netherlands) N.V. Armand Estate B.V USD 12, USD 12,448 Armand Estate B.V. Armand Estate B.V. 41 USD 12, USD 12,344 Greencompass Marine S.A. - - USD 5,000 - USD 5,000 Evergreen Shipping Agency (Singapore) Pte Ltd. RTW AIR SERVICES (S) PL EGS - 30 SGD SGD 44 Evergreen Shipping Agency (Thailand) Co., Ltd. Green Siam Air Service Co. EGT 4 THB 1, THB 1,160 Evergreen Shipping Agency (Deutschland) GmbH Evergreen Shipping Agency (Austria) GmbH EGD - EUR EUR 18 Zoll Pool Hafen Hamburg AG 10 EUR EUR 10 Evergreen Shipping Agency (Switzerland) S.A. 0.1 EUR EUR

211 2011 Annual Report 8. ( ) ( ) ( ) ( ) ( ) ( ) $ 684,593 97% 30~60 $ - - $ 38,695 51% Greencompass Marine S.A. Evergreen Marine (Hong Kong)Ltd. USD 13,148 1% 15~ USD 30,519 1% 15~ Evergreen International S.A. USD 31,968 2% 15~ Italia Marittima S.p.A USD 18,461 1% 15~ Evergreen Marine (Singapore) Pte. Ltd. USD 16,437 1% 15~ Evergreen Shipping Agency (Deutschland) GmbH USD 4,216 0% 15~ Evergreen Shipping Agency (Netherlands) B.V. USD 3,798 0% 15~ Evergreen Shipping Agency France S.A.S. USD 5,680 0% 15~ USD 4,079 0% 15~ Evergreen Marine (UK) Ltd. GBP 2,829 0% 30~ GBP 158 1% Evergreen Shipping Agency (Deutschland) GmbH Greencompass Marine S.A. EUR 2,702 26% - - EUR 244 3% Italia Marittima S.p.A EUR 2,947 28% " - - EUR 266 4% Evergreen Shipping Agency (Netherlands) B.V. Greencompass Marine S.A. EUR 2,654 25% " Evergreen Marine (Singapore) Pte. Ltd. EUR 2,749 25% " Evergreen Shipping Agency France S.A.S. Greencompass Marine S.A. EUR 3,999 63% " Island Equipment LLC Seaside Transportation Service LLC USD 4,496 27% USD 9 100% Evergreen Heavy Industrial Corp. (Malaysia) Berhad MYR 174,227 64% Greencompass Marine S.A MYR 72,026 26% MYR 20, % Evergreen Marine (Singapore) Pte. Ltd. MYR 27,820 10%

212 9. Peony Investment S.A Luanta Investment (Netherlands) N.V. USD 14,603 USD - - USD 14,603 USD - Evergreen Heavy Industrial Corp. (Malaysia) Berhad Greencompass Marine S.A. MYR 20,126 MYR - - MYR 20,126 MYR - Greencompass Marine S.A. USD 4,489 USD - - USD 4,489 USD - 166

213 2011 Annual Report 10. Evergreen Marine (UK) Ltd USD 39,700 (USD 8,260 ) USD 321 USD

214 ( ) ( 1) (Ningbo Victory Container Co., Ltd.) ( ) RMB 24,119 ( ) $ 30,806 (USD 1,018 ) $ - $ - $ 30,806 (USD 1,018 ) (Qingdao Evergreen Container Storage & Transportation Co., Ltd.) ( ) RMB 92,500 ( ) $ 134,637 (USD 4,447 ) - - $ 134,637 (USD 4,447 ) (Shenzhen Greentrans Transportation Co., Ltd.) RMB 44,960 ( ) $ 94,894 (USD 3,134 ) - - $ 94,894 (USD 3,134 ) (Shenzhen Hutchison Inland Container Depots Co., Ltd.) HKD 92,000 ( ) $ 24,560 (HKD 6,304 ) - - $ 24,560 (HKD 6,304 ) ( ) (Kingtrans Intl. Logistics (Tianjin) Co., Ltd.) ( ) RMB 77,929 ( ) $ 121,106 (USD 4,000 ) - - $ 121,106 (USD 4,000 ) ( 3) $ 406,003 $ 1,092,749 $ 39,210,301 (USD 12,599 ) (USD 36,092 ) (HKD 6,304 ) ( $65,350,520) 1. 1 ( ) ( ) ( ) ( ) ( ) 2 ( ) ( ) ( 2)( (2) (3)) $ 6,062 (USD 206 ) $ 36,651 (USD 1,247) ($ 1,971 ) (-USD 67 ) 6.85 $ $ 9,886 (USD 336 ) $ 68,332 (USD 2,257 ) $ 232,092 (USD 7,666) 96,614 (USD 3,191 ) $ 24,560 (HKD 6,304 ) $ 154,777 (USD 5,112 ) $

215 2011 Annual Report IFRSs IFRSs

216 (101) Everport Terminal Services Inc. (Peony Investment S.A.) Everport Terminal Services Inc. (Peony Investment S.A.) Everport Terminal Services Inc. (Peony Investment S.A.) ,203,361 48,120, % 37.14% ,773,492 37,796, % 34.56% ,447,282 17,329, % PricewaterhouseCoopers Taiwan / 27F, 333 Keelung Rd., Sec. 1, Taipei, Taiwan T: +886 (2) , F:+ 886 (2) , 170

217 2011 Annual Report 13.38% ,259,160 3,876,

218 % % % % 1100 (()) $ 23,006, $ 19,716, (()) $ 3,910,312 3 $ 2,603, ,914, (()) 2,232, ,914,301 - (()) 255, , (()) 951, ,685, ,750, ,263-73, () 287, , (()) 7,835, ,613, (()) 184, , () 142, , ,817, ,274, ,743, ,261, () 148, , () 591, , ,140, , (()) , , , X (()) 4,814, ,536, , ,083 - (()) 7,102, ,942, , , () 2,121, ,224, (()) 253, , XX 28,682, ,399, () 520, , (()) 3,419, ,669, (()) - - 2,218, XX 46,321, ,358, (()) 37,863, ,139, ,655, ,968, ,953, XX 39,816, ,358, (()) 62, , (()) 602, , (()) 1,450, ,079, (()) 370,000-3,135, ,231-32, (()) 1,515, ,497, (()) 1,316, ,493, (()) 23,919, ,363, ,104, , ,527-28XX 3,911, ,586, XX 26,471, ,061, XXX 72,411, ,343, (()) ,177, ,173,390 2 (()) ,898, ,920, ,734, ,248, , ,259 1 (()) ,420, ,965, ,805, ,456, , , ,093, ,583, ,606, ,611, ,534, ,271, , , , , ,713-6, ,489, ,278 - (()) ,604-15, ,102, ,586, XY 94,182, ,458, ,579, , X9 ( 45,942,449) ( 33) ( 41,500,058) ( 32) ,862, ,407, ,523, ,771, XX 64,762, ,730, ( 2,656,053) ( 2) ( 5,055,677) ( ( 1,229,959) ( 1) ( 707,771) ( ,058-59, ,733-1,184, X 61,165, ,823, , , ,435, ,398, , ,506-3XXX 65,601, ,221, ,912-1,277 - () 18XX 395, ,685 - () 1XXX $ 138,012, $ 129,565, XXX $ 138,012, $ 129,565,

219 2011 Annual Report ( ( ) ) % % 4000 (()) $ 108,156, $ 109,353, (()) ( 108,325,035) ( 100) ( 91,609,132) ( 84) 5910 () ( 168,977) - 17,744, (()) ( 4,948,726) ( 5) ( 5,025,347) ( 4) 6900 () ( 5,117,703) ( 5) 12,718, , , (()) - - 4,337, , , () 1,125, ,136, ,128, , , () 119, , (()) 232, , , , ,179, ,699, ( 415,765) - ( 684,217) ( 1) 7521 (()) ( 1,938,535) ( 2) ( 23,587) - ( 29,680) ( 1,738) ( 17,207) - ( 18,509) (()) ( 36,992) - ( 90,590) ( 49,119) - ( 37,434) ( 2,481,205) ( 2) ( 662,168) ( 1) 7900 () ( 3,419,155) ( 3) 18,755, (()) ( 260,647) - ( 983,010) ( 1) 9600XX ($ 3,679,802) ( 3) $ 17,772, ($ 3,092,361) ( 3) $ 15,165, ( 587,441) - $ 2,607,116 2 ($ 3,679,802) ( 3) $ 17,772, ()(()) 9710 () ( $ 0.99) ( $ 1.06) $ 5.55 $ AA ( 0.81) ( 0.77) 9750 () ($ 0.83) ( $ 0.89) $ 4.74 $ 4.49 ()(()) 9810 ( ($ 0.99) ( $ 1.06) $ 5.36 $ AA ( 0.78) ( 0.74) 9850 () ($ 0.83) ( $ 0.89) $ 4.58 $

220 $ 30,625,992 $ 6,675,194 $ 7,586,240 $ 957,344 $ 8,242,423 $ 640,363 ($ 483,688) $ 207,729 $ 2,566,776 $ 57,018, , , ,278,024 - (127,826 ) ( 127,826) ( 1,075,152 ) ( 68,319) 711,600 - ( 431,870) ( 4,620,888 ) ( 4,620,888) ( 155,764) - - ( 155,764) , , ,165, ,607,116 17,772, ( 775,847) ( 775,847) $ 31,248,395 $ 7,202,990 $ 7,586,240 $ 957,344 $ 23,407,874 ($ 5,055,677) ($ 707,771) $ 1,184,125 $ 4,398,045 $ 70,221, $ 31,248,395 $ 7,202,990 $ 7,586,240 $ 957,344 $ 23,407,874 $ (5,055,677) ($ 707,771) $ 1,184,125 $ 4,398,045 $ 70,221,565 99() - - 1,516,545 - (1,516,545) ,621,980 (3,621,980) ,157, (3,157,544) (3,157,544) ( 3,157,544) 328, , ,979 - ( 67,494) ( 67,494) - ( 4,441) ,021 ( 212,794) ( 539,536) - ( 438,627) ,081, ,081, ( 309,394) - - ( 309,394) ( 351,856) - ( 351,856) ( 3,092,361) ( 587,441) ( 3,679,802) , , $ 34,734,581 $ 7,480,392 $ 9,102,785 $ 4,579,324 $ 8,862,023 ($ 2,656,053) ($ 1,229,959) $ 292,733 $ 4,435,709 $ 65,601,535 99$55,000$40,

221 2011 Annual Report ( $ 3,679,802) $ 17,772,567 5,264,002 5,348,986 28,480 33, , ,743 43,029 54,195 ( 1,101,673) ( 1,106,930) () 2,996,453 ( 3,811,698) 190, ,914 ( 42,500) - ( 752,975) - ( 324,305) - 2,557 - ( 61,631) ( 6,828) ( 535,106) 1,359,963 2,256,129 ( 2,726,091) ( 505,832) 216, ,383 80,525 ( 1,157,338) ( 1,449,362) 9,783 13,607 52,245 ( 310,585) 349, ,593 ( 1,448,173) 877,217 ( 986,898) 65,459 ( 5,018) 11,376 ( 1,586) 952 ( 43,007) 2,015,151 ( 4,094) 55,516 ( 1,829,157) 4,751, , ,710 ( 470,228) 429, ,778 47,941 58,982 86,909 37,303 7,002 ( 117,855) 725,321 () ( 625,682) 26,225,272 ( 337,054) ( 544,019) () 15,031 ( 118,755) - 44,848-1,820, ,000 - ( 470,000) 62, ,674-3,761,685 - ( 710,377) ( 794,744) - 164,063 1,152, ( 20,502,299) ( 12,007,534) 5,226,423 1,191,782 ( 90,633) ( 26,797) ( 9,557,284) ( 11,949,330) 1,307, ,346 - ( 99,959) () 11,408,325 ( 3,075,498) - 1,953,360 - ( 190,297) ( 19,455) () 6,835 ( 2,279) ( 3,157,544) - 625,105 ( 775,847) () 11,952,924 ( 3,633,692) 1,618,446 ( 787,948) ( 98,237) - 3,290,167 9,854,302 19,716,091 9,861,789 $ 23,006,258 $ 19,716,091 $ 281,831 $ 293,411 ( 45,572) ( 7,000) $ 236,259 $ 286,411 $ 336,383 $ 230,771 $ 7,102,812 $ 6,942,992 $ 658,600 $ 1,247,

222 / ( ) ( ) , ( ) 1. 50% ( ) ( ) Everport Terminal Services Inc.(ETS) (%)

223 2011 Annual Report Greencompass Marine S.A. (GMS) (%) Clove Holding Ltd. (CLOVE) Vigor Enterprise S.A. (VIGOR) Evergreen Marine (UK) Limited (EMU) Evergreen Heavy Industrial Corp. (Malaysia) Berhad (EHIC(M)) Armand Investment (Netherlands) N.V. (Armand N.V.) (SGTC) ( ) (KTIL) PT. Multi Bina Pura International (MBPI) PT. Multi Bina Transport (MBT) Evergreen Shipping Agency (Singapore) Pte. Ltd. (EGS) Evergreen Shipping Agency (Korea) Corporation (EGK) PT. Evergreen Shipping Agency Indonesia (EMI) Evergreen Shipping Agency (Thailand) Co., Ltd. (EGT) Evergreen Shipping Agency (India) Pvt. Ltd. (EGI) Evergreen Shipping Agency (Australia) Pvt. Ltd. (EMA) Evergreen Shipping Agency (Italy) S.p.A. (EIT) Evergreen Shipping (Spain) S.L. (EES)

224 EMU Clove Armand N.V. Island MBPI Evergreen Shipping Agency (Russia) Ltd. (ERU) Evergreen Shipping Agency (Deutschland) GmbH (EGD) Evergreen Shipping Agency (Ireland) Ltd. (EGUD) Evergreen Shipping Agency (Poland) SP.ZO.O (EGD-WWX) Evergreen Shipping Agency France S.A.S. (EGF) Evergreen Shipping Agency (Netherlands) B.V. (EGN) Evergreen Shipping Agency (Vietnam) Corp. (EGV) Evergreen Agency (South Africa) (PTY) Ltd. (ESA) Evergreen Argentina S.A. (EGB) Island Equipment LLC. (Island) ( ) (KTIL) Ample Holding Ltd. (Ample) Island Equipment LLC. (Island) A r mand Estate B.V. (Armand B.V.) Whitney Equipment LLC. (Whitney) Hemlock Equipment LLC. (Hemlock) PT. Multi Bina Transport (MBT) (%)

225 2011 Annual Report (1) 100 ( ) (2) a ( ) ETS100% ETS b. EGF Evergreen Shipping Agency France S.A. Evergreen Shipping Agency France S.A.S.Peony 99.4% 100% ( ) ( ) ( ) 1. (1) (2) (3) (4) 179

226 2. (1) (2) (3) (4) ( ) ( ) / ( ) 5. (1) (2) (3) ( ) /

227 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( )

228 ( ) ( ) 3 ( ) ( ) (1) (2) (3) (4) 182

229 2011 Annual Report 2. ( ) 15 ( ) 1. ( ) % ( ) (96) (97) 127 ( ) ( ) ( )

230 2. ( ) ( ) ( ) 100 ( ) ( ) 184

231 2011 Annual Report ( ) $ 22,989 $ 30,788 1,017, , , ,025 3,508,988 2,972,687 3,243,500 1,174,521 14,128,710 14,122, ,664 - ( ) ( ) 3,148 ( 41,311 ) $ 23,006,258 $ 19,716, %~14.00% 0.05%~14.00% ( ) $ 10,292 $ 290 2,366,704 2,041, ,824 5,215 2,378,820 2,047,125 ( 146,142) ( 132,824) $ 2,232,678 $ 1,914,301 $ 100,000 $ 100,000 ( 37,041 ) 4,287 $ 62,959 $ 104, $36,992 $90,

232 ( ) ( ) $ 490,801 $ 490,801 ( ) 1,523 3, , , , ,436 $ 602,904 $ 957,108 ( ) $ 951,382 $ - $ 370,000 $ 1,315,915-1,820,000 $ 370,000 $ 3,135,915 ( ) $ 1,515,391 $ 4,497, ( : ( ) ) % $10 $62,107 $476 $61, Clove Holding Ltd.( Clove) Classic Outlook Investment Ltd.( Classic)Everup Profits Ltd.( Everup) USD29 USD128,120 Classic Everup Clove USD25,

233 2011 Annual Report ( ) $ 7,853,755 $ 9,655,574 ( ): ( ) 735 ( 23,461 ) : ( 18,887 ) ( 18,355 ) 7,835,603 9,613, , ,685 $ 7,978,128 $ 9,911,443 ( ) $ - $ 158,383 ( ) $ 3,688,168 $ 2,709,121 1,126, ,206 $ 4,814,786 $ 3,536,327 ( ) $ 928,886 $ 1,173,694 1,353, ,828 1,137, ,852 $ 3,419,358 $ 1,669, Gaining Enterprise S.A.Italia Marittima S.p.A.Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte. Ltd. 187

234 ( ) ( ) 40.00% $ 609,794 $ 575,326 ( ) 39.74% 7,991,293 8,418,428 ( ) 19.32% 7,315,432 7,848,925 ( ) 27.87% 1,180,746 1,208,758 Luanta Investment (Netherlands) N.V % 2,522,258 2,444,745 Balsam Investment (Netherlands) N.V % 1,434,080 3,257,816 Colon Container Terminal S.A % 2,195,474 2,035,250 Evergreen Container Terminal (Thailand) Ltd , , ,065 $ 23,919,745 $ 27,363, ( ) : ( ) $ 59,868 $ 56,468 ( ) 305, ,098 ( ) 40,375 2,321,099 ( ) ( 28,011 ) ( 54,659 ) Luanta Investment (Netherlands) N.V. ( 153,568 ) ( 201,841 ) Balsam Investment (Netherlands) N.V. ( 2,375,158 ) 1,265,490 Colon Container Terminal S.A. 118, ,531 Evergreen Container Terminal (Thailand) Ltd ,950 93,394 95,290 ($ 1,938,535 ) $ 4,337, Peony Investment S.A.( Peony) Evergreen Container Terminal (Thailand) Ltd.( ECTT) USD4.27 USD39,200 USD10, ( ( ) ) 10 ( ) - ( ) 86,

235 2011 Annual Report ( ) $ 2,177,397 $ - $ 2,177,397 2,898,319 ( 1,268,501 ) 1,629, ,077 ( 572,786 ) 151,291 6,420,851 ( 4,535,733 ) 1,885, ,673 ( 262,469 ) 57,204 25,093,249 ( 13,815,039 ) 11,278,210 53,534,978 ( 25,046,462 ) 28,488, ,486 ( 385,401 ) 122,085 2,489,407 ( 49,915 ) 2,439,492 16,604 ( 6,143 ) 10,461 94,182,041 ( 45,942,449 ) 48,239,592 16,523,249-16,523,249 $ 110,705,290 ($ 45,942,449 ) $ 64,762, $ 2,173,390 $ - $ 2,173,390 2,920,953 ( 1,309,106 ) 1,611, ,259 ( 547,774 ) 170,485 7,965,773 ( 4,879,032 ) 3,086, ,946 ( 258,481 ) 39,465 23,583,460 ( 12,394,327 ) 11,189,133 49,271,864 ( 21,726,921 ) 27,544, ,976 ( 371,449 ) 131,527 8,278 ( 7,333 ) ,841 ( 5,635 ) 10,206 87,458,740 ( 41,500,058 ) 45,958,682 6,771,838-6,771,838 $ 94,230,578 ($ 41,500,058 ) $ 52,730, USD1,337,820 USD1,361,700 GARD P&I (PROTECTION & INDEMNITY) USD8,000,000 USD5,000,

236 $ 6,004,878 $ 6,108, $4,313,542 $3,936, USD631,663 USD632, $45,572 ( ) $ 3,910,312 $ 2,602,020-1,152 $ 3,910,312 $ 2,603, %~2.50% 0.69%~0.76% ( ) $ 250,083 $ 238,467-72, ,141 5, ,928 $ 255,246 $ 842, $232,863 $390, ( ) $ 2,955,661 $ 1,156,100 4,147,151 5,786,892 $ 7,102,812 $ 6,942,

237 2011 Annual Report ( ) $ 594,100 $ 1,252,700 2,500,000 2,500,000 ( 138,439 ) ( 377,825 ) 2,955,661 3,374,875 ( 2,955,661 ) ( 1,156,100 ) $ - $ 2,218, ( ) $2,500,000 (1) (2) 0% (3) (4) a. ( ) b. ( ) ( ) 14 c. ( ) (5) ( ) (6) a %( ) 30 b

238 10% c. (7) a ( ) b %~110% (8) ( ) 3 ( ) ( ) ( ) (9) ( ) $2,500,000 (1) (2) 0% (3) 192

239 2011 Annual Report (4) (5) a %( ) 30 b $250,000( 10%) c. (6) ( % 0.5% % 0.5%) (7) a ( ) b % (8) ( ) 193

240 3 ( ) ( ) ( ) (9) $1,905,900 - $1,004,958 - $195, $256,205 ( ) $ 18,607,027 $ 16,602,217 23,367,955 11,586,149 ( ) ( ) 41,890 ( 80,840 ) - ( 6,196 ) ( 9,634 ) 42,010,676 28,097,892 ( 4,147,151 ) ( 5,786,892 ) - 1,828,352 $ 37,863,525 $ 24,139, %~9.38% 0.75%~9.38% 194 ( ) ( ) %

241 2011 Annual Report 2. (1) % 2.25% 2.00% 2.00% 2.00% 2.00% (2) ($ 284,443 ) ($ 264,199 ) ( 1,626,402 ) ( 1,280,282 ) ( 1,910,845 ) ( 1,544,481 ) ( 247,168 ) ( 343,017 ) ( 2,158,013 ) ( 1,887,498 ) 460, ,606 ( 1,697,980 ) ( 1,422,892 ) 46,592 52,417 14,465 16,073 1,157, ,729 ( 971,813 ) ( 659,202 ) ($ 1,450,813 ) ($ 1,079,875 ) (3) $ 34,801 $ 45,092 41,563 34,647 ( 11,404 ) ( 12,044 ) 5,824 25,900 2,112 1,607 57,199 33,401 $ 130,095 $ 128, % 195

242 $159,394 $159,977 ( ) $36,000,000 $34,734,581 3,473, ( ) ( ) 32,864 $ 328,642 62,240 $ 622,403 ( ) ( ) ( ) 1. 10% 0.5% 5% 10% 2. 25% 3. ( )

243 2011 Annual Report ( ) ( ) $ 1,516,545 $ - 3,621,980-3,157,544 $ $ - 3,157, $40,000 $55, ( ) $ 102,841,927 $ 104,680, , ,245 1,587,599 1,767, , ,955 2,478,517 1,982,753 $ 108,156,058 $ 109,353,

244 ( ) $ 260,647 $ 983,010 ( ) ( 203,488 ) ( 77,039 ) 39,517 24,828 1,719 2,303 ( 32,112 ) ( 26,265 ) 117,855 ( 725,321 ) $ 184,138 $ 181, ( ) $ 253,944 $ 315,468-96,582 78,447 - ( 14 ) ( 65 ) - ( 1,413,210 ) ( 1,572,185 ) - - ($ 1,062,698 ) ($ 1,178,335 ) 3. ( ) : $ 1,937 $ 329 $ 1,766 $ 300 ( 63 ) ( 14 ) ( 267 ) ( 65 ) 28,042 4,727 43,347 7, ,424 22, ,424 22, ,501 57, , ,186, ,648 1,222, ,843 24,833 19,830 $ 253,930 $ 315,

245 2011 Annual Report $ 52,344 $ 15,120 $ 23,101 $ 6, ,144 81, ,674 71, , ( 7,936,746 ) ( 1,354,294 ) ( 8,934,533 ) ( 1,527,007 ) ( 236,197 ) ( 58,916 ) ( 181,914 ) ( 45,178 ) ($ 1,316,628 ) ($ 1,493,738 ) $ 36,000 $ 24, $ 2,456,334 $ 417,577 $ 201, $ 5,570,596 $ 5,570, ,291,427 17,837,278 $ 8,862,023 $ 23,407, $1,013,143 $2,509, % % 199

246 ( ) ( ) 100 ( ) ( ) ($ 3,419,155 ) ($ 3,679,802 ) $ 3,469,771 ($ 0.99 ) ($ 1.06 ) 545, , ($ 2,873,323 ) ($ 3,092,361 ) ($ 0.83 ) ($ 0.89 ) ($ 2,873,323 ) ($ 3,092,361 ) $ 3,469,771 ($ 0.83 ) ($ 0.89 ) ( ) ( ) $ 18,755,577 $ 17,772,567 3,377,843 $ 5.55 $ 5.26 ( 2,751,317 ) ( 2,607,116 ) ( 0.81 ) ( 0.77 ) $ 16,004,260 $ 15,165,451 $ 4.74 $ 4.49 $ 18,755,577 $ 17,772,567 $ 5.36 $ 5.08 ( 2,751,317 ) ( 2,607,116 ) ( 0.78 ) ( 0.74 ) 47,693 47, , ,652 $ 16,051,953 $ 15,213,144 $ 3,507,720 $ 4.58 $

247 2011 Annual Report ( ) : 100 $ 1,485,326 $ 2,406,585 $ 3,891,911 44, , , , , , ,973 92, ,239 5,149, ,821 5,264, ,744 28, , $ 1,363,705 $ 2,518,724 $ 3,882,429 34, , , , , , ,914 89, ,483 5,237, ,184 5,348, ,743 33, ,

248 ( ) (EIS) (Evergreen International S.A.) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Evergreen Marine (Hong Kong) Ltd.(EGH) Evergreen Marine (Singapore) Pte. Ltd.(EMS) ( ) ( ) (NVC) (QECT) Green Peninsula Agencies SDN. BHD. (GPA) Luanta Investment (Netherlands) N.V.(Luanta) Balsam Investment (Netherlands) N.V.(Balsam) Evergreen Shipping Agency Co.(U.A.E) LLC(UAE) Evergreen Container Terminal (Thailand) Ltd. (ECTT) Colon Container Terminal S.A. (CCT) Taranto Container Terminal S.p.A. (TCT) Italia Marittima S.p.A.(ITS) Gaining Enterprise S.A. (GESA) Seaside Transportation Service LLC. (STS) Sinotrans Group Shenzhen Co.(SGSC) ( ) ( ) Luanta Balsam Island SGTC 202

249 2011 Annual Report ( ) (%) (%) $ 1,905,287 2 $ 1,831, ,125-94,864 - EIS 140, ,962 - EGH 447, ,124 - ITS 614, ,953 1 EMS 860, ,694 1 STS 132, ,745 - GESA 31,026-28, $ 4,222,059 4 $ 4,171, (%) (%) $ 551,703 - $ 776, , , ,174-46,718-77,080-56,697 - GESA 1,552, ,660,616 2 EIS 939, ,705 - EGH 964, ,096,348 1 ITS 546,142-9,443 - EMS 515, ,761-5,456 - $ 5,820,285 5 $ 4,941,

250 3. (1) $ 3,351 $ , , ,324 - $ 1,468,922 $ 274 (2) $ 1,626 $ - $ - $ ,666 9, $ 11,487 $ 9,697 $ 88 $ (1) ( ) (%) (%) $ 95, $ 94, , , , $ 98, $ 96,

251 2011 Annual Report (2) ( ) (%) (%) $ 43, $ 43, $ 43, $ 43, (3) ( ) (%) (%) $ 369,925 8 $ 603, GESA 1,552, ,660, EIS 939, , ITS 546, ,443 - EMS 515, EGH 4,232-4,785 - $ 3,928, $ 2,948, ( ) (%) (%) $ 72,796 2 $ 115, ,889-22,062 - ITS 22,549-48,207 1 EMS 11, , ,171-12,042 - $ 142,525 2 $ 297,

252 (%) (%) $ 71,416 3 $ 62,237 3 Luanta 442, , EIS 70, ,041-7,131-97,946 6 $ 591, $ 534, (%) (%) $ 30,148 1 $ 34, ,727-12,208 - ITS 201, ,110 1 EIS 7,610-19,341 - EMS 31, ,680 1 EGH 1,416-10,645-4,471-4,535 - $ 287,538 6 $ 135, (%) (%) EIS $ 103,208 9 $ 103, ITS 45, ,254 6 $ 148, $ 161, ( ) BALSAM USD 49,000 USD 49,000 CCT USD 9,600 USD 9,600 TCT USD 23,025 USD 20,

253 2011 Annual Report ( ) $71,856 $61, $940 $1, EMS $ 10,436 $ 9,983 GESA 7,345 8,920 EIS 3,468 2,734 EGH 4,308 3,821 $ 25,557 $ 25, ( ) $ 43,760 $ 376, Gaining Enterprise S.A. Italia Marittima S.p.A.Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte. Ltd. ( ) (1) EIS $ 1,020,814 $ 135,877 ITS 94,018 86,798 GESA 20,853 27,908 $ 1,135,685 $ 250,

254 (2) EGH 178, ,854 EMS $ 50,703 $ 326,920 $ 229,497 $ 452, ( ) $ 85,711 $ 89,595 EIS 54,520 49,054 EMS 29,423 30,916 GESA 23,088 20,937 EGH 21,243 19,405 ITS 9,073 8,426 $ 223,058 $ 218,333 ( ) $ 128,837 $ 125,062 3,635 6,018 3,510 59,134 $ 135,982 $ 190, ( ) 99 $50,

255 2011 Annual Report $ 520,132 $ 561,663 2,000 2,000 1,800,093 1,800, , ,659 1,337,866 2,349,818 13,362,686 12,840,771 1,642,626 1,477,864 Classic Outlook Investments Ltd. - 2,987,135 Everup Profits Ltd. - 7 ( ) 1,631,851 1,670,471 $ 21,111,143 $ 24,529, USD5, (85) ( ) USD115,000 5,449,592 54,495, ,438 6,267,030 62,670, USD115, ,085,856 20,858, ,975, ,446 3,774,

256 $39,361,699 $16,642, USD 208,982 1~2 117,104 2~3 53,838 3~4 51,036 4~5 38, ,794 USD 551, $19,252, Samsung Heavy Industries Co., Ltd. USD1,339, USD844, USD721,000 USD684, Peony Investment S.A Balsam Investment(Netherlands)N.V. EUR19,600 EUR49,000 EUR68,600 49% $3,000,000 $1, % ( ) 210

257 2011 Annual Report ( ) ( ) $ 23,006,258 $ - $ 23,006,258 10,406,179-10,406,179 10,003 10,003-2,220,851 2,220,851-62,959-62, , , , , , , , ,000 1,515, , ,412 3,910,312-3,910,312 15,078,491-15,078,491 ( ) 2,955,661-2,955,661 ( ) 42,010,676-42,010,676 40,231-40,231 1,824-1, , ,083 5,163-5,

258 $ 19,716,091 $ - $ 19,716,091 11,780,623-11,780, ,908,594 1,908, , , , , , , , , ,135,915-3,135,915 4,497, , ,902 2,603,172-2,603,172 16,303,945-16,303,945 ( ) 3,374,875-3,374,875 ( ) 24,240,182-24,240,182 32,191-32, ,215-5, , ,467 72,338-72, , , , ,

259 2011 Annual Report 1. ( ) ( ) ( ) $235,521 $216,879 $415,765 $484, $387,812 $264,796 $35,957 $0 ( ) $0 $158 $250,083 $238,467 $4,290,110 $3,914,665 $42,927,184 $28,107,525 ( ) 213

260 $ 17,675,619 $ - $ - $ - $ 17,675,619 ( 200,000 ) ( 200,000 ) ( 200,000 ) ( 2,400,000 ) ( 3,000,000 ) $ 4,290,110 $ - $ - $ - $ 4,290,110 ( 7,857,463 ) ( 6,191,085 ) ( 9,290,526 ) ( 19,588,110 ) ( 42,927,184 ) 214

261 2011 Annual Report : $ 383, $ 402, , , ,045, , , , ,624, , , , , , , , , $ 759, $ 731, , , , , ,439, , , , ,

262 $ 2,232,678 $ 2,232,678 62,959 62,959 1,321,382 1,321, , ,904 1,515,391 1,515, $ 1,914,301 $ 1,914, , ,287 1,315,915 1,315,915 1,820,000 1,820, , ,108 4,497,128 4,497,

263 2011 Annual Report ( ) ( 1) ( 2) (%) ( 34) 0 Greencompass Marine S.A. 3 $ 130,701,004 $ 27,728,344 $ 27,728,344 $ % $ 163,376,255 (USD 915,837 ) (USD 915,837 ) 0 Peony Investment S.A ,701, , , % (USD 14,800 ) (USD 14,800 ) 0 EVERGREEN MARINE (UK) LTD ,701,004 52,403,055 52,403, % (USD 1,730,816 ) (USD 1,730,816 ) 0 Taranto Container Terminal S.p.A. 6 32,675, , , % (USD 20,792 ) (USD 20,250 ) 0 Whitney Equipment LLC ,701,004 2,870,590 2,850, % (USD 94,164 ) (USD 94,164 ) 0 Hemlock Equipment LLC ,701,004 1,762,338 1,750, % (USD 57,810 ) (USD 57,810 ) 0 Colon Container Terminal S.A. 6 32,675, , , % (USD 9,600 ) (USD 9,600 ) 0 Balsam Investment (Netherlands) N.V. 6 32,675,251 1,493,765 1,483, % (USD 49,000 ) (USD 49,000 ) 0 Evevgreen Agency (South Africa) (PTY) Ltd ,701, , % (USD 4,000 ) (USD - ) % 65,350,502 x 250% 163,376,

264 3. (%) 4,765 $ 44,769, $ 44,930,636 ( ) 5,500 87, ,777 ( ) Everport Terminal Services Inc. 1 3, ,028 ( ) 47, , , ,062 7,991, ,000,482 12/31 5,280 89, , ,483 7,315, ,086,078 12/31 88, , ,459-1,290 12, , , ,735 1,250, ,140 7,000 43, ,869 Linden Technologies, Inc , Toplogis, Inc. 2,464 22, ,195-46, , ,008 12/ , ,896 12/ / , ,810 12/31 ( ) 218

265 2011 Annual Report (%) - 37,185 $ 563,121 - $ 563,121 4,609 60,408-60,408 26, , ,411 4, , ,039 8, , ,642 25, , , ,959-62, , , , , (B ) - 100, , ,000-50,

266 ,882 $510, ,760 $1,550,000 99,457 $1,500,187 $1,498,883 $ 1,304 37,185 $561,122 10, , ,519 1,340,000 95,655 1,150,086 1,148,871 1,215 25, , ,531 1,290,000 3, , , , , , , , ,000 5,754 90,000 28, ,000 8, , , , ,055 12, ,021 32, ,000 45, , , , ,011 56, ,000 98,263 1,191,190 1,190,011 1, , , , , ,

267 2011 Annual Report ( ) 2011/5/ /11/30 $ 135,264 $ 300,366 ( ) $ 165,

268 7. ( ) ( ) ( ) ( ) ( ) $ 551,703 3% 30~60 $ - - ($ 10,728 ) 1% 360,052 2% 30~ ( 22,761 ) 1% 1,900,307 12% 30~ ,856 9% 684,593 4% 30~ ( 38,695 ) 2% ) Gaining Enterprise S.A. 1,552,673 10% 30~ ( ) 222

269 2011 Annual Report 8. $ 143,272 $ - - $ 134,803 $ - 9. ( ) 223

270 ( ) 1. East 53rd Street, Marbella, MMG Building, 2nd Floor,Panama, Republic of Panama USD 476,500 USD 476,500 4, $ 44,769,469 ($ 3,832,744 ) ($ 3,998,886 ) ( ) ( ) ,000 55,000 5, ,777 8,667 4,767 Everport Terminal Services Inc Orange Street in the city of Wilmington, Country of New Castle USD 100 USD , ( ) , ,000 47, , ,671 59,868 ( ) 899 4,753,514 4,753, , ,991, , ,923 ( ) ,000 25,000 5, ,111 37,652 11,766 ( ) ,767,879 10,767, , ,315, ,027 40,375 ( ) , ,731 88, ,008 ( 90,963 ) ( 19,133 ) Clove Holding Ltd. Craigmuir Chambers, P. O. Box71, Road Town, Tortola, B.V.I. USD 52,549 USD 52, USD 64,025 USD 52,349 USD 52,349 ( ) Evergreen Shipping Agency (Deutschland) GmbH Evergreen Building Amsinckstrasse Hamburg,Germany USD 8,316 USD 8, USD 8,909 USD 373 USD 373 Evergreen Shipping Agency (Ireland) Ltd. 22 Fiztwilliam Place, Dublin 2, Ireland USD 95 USD USD 205 USD 24 USD 24 Evergreen Shipping Agency (Korea) Corporation 12 Fl.,Royal Building 5, Dangju-Dong, Chongro-Ku, Seoul, Korea USD 2,426 USD 2, USD 1,379 (USD 89 ) (USD 89 ) Evergreen Shipping Agency (Netherlands) B.V. PortCity - Havennummer 2235 Waalhaven ZZ JH Rotterdam, The Netherlands USD 3,977 USD 3, USD 4,966 USD 278 USD 278 Evergreen Shipping Agency (Poland) SP. ZO.O UL. SOLEC 22, WARSZAWA, POLAND USD 662 USD USD 551 USD 32 USD 32 Greencompass Marine S. A. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 353,500 USD 353,500 3, USD 880,387 (USD 100,623 ) (USD 100,623 ) 224

271 2011 Annual Report Vigor Enterprise S.A. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 500 USD USD 512 (USD 15) (USD 15 ) ( ) Evergreen Shipping Agency (India) Pvt. Ltd. Mararhon Nextgon Innova"A"G01,Opp. Peninsula Corporate Park,Off G.K.Marg. Lower Parel (W), MUMBAI , INDIA USD 184 USD USD 2,859 USD 1,015 USD 1,015 Evergreen Argentina S.A. Pje. Carabelas 344, (C1009AAD), Buenos Aires. Argentina USD 140 USD USD 64 (USD 190 ) (USD 180 ) Evergreen Shipping Agency France S.A.S. Tour Franklin-La Defense 8, PARIS LA DEFENSE CEDEX-FRANCE. USD 907 USD USD 1,484 USD 195 USD 195 PT. Multi Bina Pura International JL. Raya Cakung Cilincing KM.4,Jakarta Utara 14260,Indonesia USD 20,204 USD 20, USD 20,438 USD 3,540 USD 3,364 PT. Multi Bina Transport JL. Raya Cakung Cilincing KM.4,Jakarta Utara 14260,Indonesia USD 804 USD USD 393 USD 918 USD 160 Evergreen Heavy Industrial Corp.(Malaysia) Berhad Lot 139, Jalan, Cecair, Phase 2 Free Trade Zone Johor Port Authority, Pasir Gudang, Johor, Johore Bahru, Malaysia USD 27,295 USD 27,295 42, USD 45,914 USD 5,719 USD 4,829 Armand Investment (Netherlands) N.V. Van Engelenweg 23, Curacao Netherlands Antilles USD 9,203 USD 9, USD 8,734 (USD 356 ) (USD 249 ) Evergreen Shipping (Spain) S.L. CALLE SIETE AGUAS, 11 - ENTLO VALENCIA, SPAIN USD 3,870 USD 3, USD 5,001 USD 4,442 USD 2,443 Evergreen Shipping Agency (Italy) S.p.A. SCALI CERERE, 9 LIVORNO ITALY USD 2,352 USD 2, USD 1,811 (USD 563 ) (USD 309 ) USD 3,134 USD 3, USD 3,191 (USD 122 ) (USD 67 ) Evergreen Marine (UK) Ltd. 160 Euston Road, London NW 12 DX, U.K. USD 1,503 USD 1, USD 98,097 (USD 59,660 ) (USD 30,427 ) Evergreen Shipping Agency (Australia) Pty. Ltd. Level 13,181 Miller Street, North Sydney NSW 2060 Australia USD 247 USD USD 416 USD 418 USD 282 Evergreen Shipping Agency (Russia) Ltd. Evergreen Office,11 Millionnaya Street, ST. Petersburg, RUSSIA USD 848 USD USD 976 USD 1,886 USD

272 Evergreen Shipping Agency (Singapore) Pte. Ltd. 200 Cantonment Road Southpoint, Singapore USD 2,157 USD 2, USD 4,720 USD 685 USD 349 ( ) Evergreen Shipping Agency (Thailand) Co., Ltd. Green Tower, 24-25th Floors 3656/81 Rama IV Road Klongton Klongtoey Bangkok USD 1,474 USD 1, USD 2,165 USD 1,388 USD 708 Evergreen Shipping Agency (Vietnam) Corp. 11F, Fideco Tower Ham Nghi St., Dist. 1 Ho Chi Minh City, Vietnam USD 454 USD USD 1,429 USD 2,330 USD 1,188 PT. Evergreen Shipping Agency Indonesia GD. MEGA PLAZA 9th Floor. Jl. H.R. Rasuna said kav. C-03 Jakarta 12920, Indonesia USD 973 USD USD 2,168 USD 1,452 USD 740 Evergreen Agency (South Africa) (PTY) Ltd. 98 RILEY ROAD BEDFORDVIEW, JOHANNESBURG 2007, South Africa USD 581 USD 581 5, USD 3,119 USD 2,417 USD 1,329 ( ) 295 ( ) USD 2,000 USD 2, USD 2,556 USD 841 USD

273 2011 Annual Report Luanta Investment (Netherlands) N.V. Waalhaven Z.z. 19, PortCity, 3089JH Rotterdam USD 33,161 USD 27, USD 83,307 (USD 10,449 ) (USD 5,225 ) Balsam Investment (Netherlands) N.V. 21-A Van Englenweg, Curacao, Netherlands, Antilles USD 122,696 USD 106, USD 47,366 (USD 164,908 ) (USD 80,805 ) 201 ( ) USD 1,199 USD 1, USD 2,257 USD 516 USD ( ) USD 4,447 USD 4, USD 7,666 USD 3,117 USD 1,247 Green Peninsula Agencies SDN. BHD. NO.7, JALAN JURUTERA U1/23, SECTION U1, HICOM GLENMARIE INDUSTRIAL PARK, SHAH ALAM, SELANGOR DARUL EHSAN, MALAYSIA. USD 7,255 USD 7,255 1, USD 7,203 USD 4,413 USD 1,324 Evergreen Shipping Agency Co.(U.A.E.) LLC 5F,Shipping Tower,Al-Mina Road,P.O. BOX 34984,Dubai,U.A.E USD 2,082 USD USD 2,082 USD 1,976 USD - ( ) Armand Investment (Netherla nds ) N.V. Armand Estate B.V. Amsteldijk 166, 1079LH, Amsterdam USD 13,636 USD 13, USD 12,448 (USD 344 ) (USD 344 ) ( ) Armand Estate B.V. ( ) 7 25 USD 12,678 USD 12, USD 12,344 (USD 3,095 ) (USD 302 ) Armand Estate B.V. Clove Holding Ltd. Ample Holding Ltd. Craigmuir Chambers,P.O.BOX71,Road Town,Tortola,B.V.I USD 9 USD USD 35,882 USD 3,828 USD 3,445 ( ) 227

274 Clove Holding Ltd. Island Equipment LLC. 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 144 USD USD 2,050 USD 984 USD 354 ( ) Ample Holding Ltd. Colon Container Terminal S.A. COCO SOLO NORTH ADM BUILDING PANAMA USD 22,860 USD 22,860 22, USD 72,514 USD 10,091 USD 4,036 Ample Holding Ltd. Island Equipment LLC. Whitney Equipment LLC Centerville Road, Suite 400, Wilmington, Delaware USD 200 USD USD 1,883 USD 617 USD 617 ( ) Hemlock Equipment LLC Centerville Road, Suite 400, Wilmington, Delaware USD 200 USD USD 4,271 USD 916 USD 916 Evergreen Marine (UK) Ltd. ( ) 295 ( ) USD 2,000 USD 2, GBP 1,350 GBP 525 GBP 105 Island Equipment LLC. 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 60 USD GBP 493 GBP 614 GBP 92 PT. Multi Bina Pura Internatio nal PT. Multi Bina Transport JL. Raya Cakung Cilincing KM.4,Jakarta Utara 14260,Indonesia USD 3,301 USD 3, IDR 14,929,939 IDR 8,045,989 IDR 5,869,549 ( ) 228

275 2011 Annual Report 2. (%) ( 1) ( 2) ( 3) 1 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. ( 4) $ 45,728 $ 45,415 $ 45, $ - $ - - $ - $ 13,070,100 $ 26,140,201 Luanta Investment (Netherlands) N.V. 483, , , $ - $ - - $ - 13,070,100 26,140,201 2 Clove Holding Ltd. Island Equipment LLC. 143, $ - $ - - $ - 13,070,100 26,140,201 3 Evergreen Marine (UK) Ltd. Island Equipment LLC. 59, $ - $ - - $ - 13,070,100 26,140,201 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. 45,728 45,415 45, $ - $ - - $ - 13,070,100 26,140, % 65,350,502*20%=13,070, % 65,350,502*40%=26,140,

276 3. ( 1) ( 2) (%) ( 3 4) 1 Greencompass Marine S.A. Taranto Container Terminal S.p.A. 1 $ 180,902 $ 84,020 $ 84,020 $ % $ 74,638,695 (USD 2,775 ) (USD 2,775 ) GMSGMS 250% 29,855,478x250% 74,638,

277 2011 Annual Report 4. (Peony Investment S.A.) Clove Holding Ltd. 10 USD 64, USD 64,025 ( ) Evergreen Shipping Agency (Deutschland) GmbH - USD 8, USD 8,909 ( ) Evergreen Shipping Agency (Ireland) Ltd. 0.1 USD USD 205 ( ) Evergreen Shipping Agency (Korea) Corporation 121 USD 1, USD 1,379 ( ) Evergreen Shipping Agency (Netherlands) B.V USD 4, USD 4,966 ( ) Evergreen Shipping Agency (Poland) SP.ZO.O 2 USD USD 551 ( ) Greencompass Marine S.A. 3,535 USD 880, USD 880,387 ( ) Vigor Enterprise S.A. 5 USD USD 512 ( ) Evergreen Shipping Agency (India) Pvt Ltd. 100 USD 2, USD 2,859 ( ) Evergreen Argentina S.A. 150 USD USD 64 ( ) Evergreen Shipping Agency France S.A.S. 5 USD 1, USD 1,484 ( ) PT Multi Bina Pura International 68 USD 20, USD 20,438 ( ) PT Multi Bina Transport 2 USD USD 393 ( ) Evergreen Heavy Industrial Corp. (Malaysia) Berhad 42,120 USD 45, USD 45,914 ( ) Armand Investment (Netherlands) N.V. 4 USD 8, USD 8,734 ( ) Evergreen Shipping (Spain) S.L. 3 USD 5, USD 5,001 ( ) Evergreen Shipping Agency (Italy) S.p.A USD 1, USD 1,811 ( ) Shenzhen Greentrans Transportation Co., Ltd.( ) - USD 3, USD 3,191 ( ) Evergreen Marine (UK) Ltd. 765 USD 98, USD 98,097 ( ) Evergreen Shipping Agency (Australia) Pty Ltd USD USD 416 ( ) Evergreen Shipping Agency (Russia) Ltd. - USD USD 976 ( ) Evergreen Shipping Agency (Singapore) Pte. Ltd. 765 USD 4, USD 4,720 ( ) Evergreen Shipping Agency (Thailand) Co., Ltd. 408 USD 2, USD 2,165 ( ) Evergreen Shipping Agency (Vietnam) Corp. - USD 1, USD 1,429 ( ) PT. Evergreen Shipping Agency Indonesia USD 2, USD 2,168 ( ) Evergreen Agency (South Africa) (PTY) Ltd. 5,500 USD 3, USD 3,119 ( ) 231

278 (Peony Investment S.A.) Kingtrans Intl. Logistics (Tianjin) Co., Ltd.( ( ) ) - USD 2, USD 2,556 ( ) Luanta Investment (Netherlands) N.V. 460 USD 83, USD 83,307 Balsam Investment (Netherlands) N.V USD 47, USD 47,366 Evergreen Shipping Agency Co. (U.A.E.) LLC - USD 2, USD 2,082 Ningbo Victory Container Co., Ltd.( ) - USD 2, USD 2,257 Qingdao Evergreen Container Storage & Transportation Co., Ltd.( ) - USD 7, USD 7,666 Green Peninsula Agencies SDN. BHD. 1,500 USD 7, USD 7,203 Dongbu Pusan Container Terminal Co. Ltd USD 1, USD 1,556 Hutchison Inland Container Depots Ltd USD 1, USD 1,492 Colombo - South Asia Gateway Terminal 18,942 USD 2, USD 2,412 PT. Multi Bina Pura International PT. Multi Bina Transport 8 IDR 14,929, ID R14,929,939 ( ) Clove Holding Ltd. Ample Holding LTD. 9 USD 35, USD 35,882 ( ) Island Equipment LLC. - USD 2, USD 2,050 ( ) Ample Holding Ltd. Colon Container Terminal S.A. Ample 22,860 USD 72, USD 72,514 Island Equipment LLC. Whitney Equipment LLC. Island - USD 1, USD 1,883 ( ) Hemlock Equipment LLC. - USD 4, USD 4,271 ( ) Evergreen Marine (UK) Ltd. Island Equipment LLC. - GBP GBP 493 ( ) Kingtrans Intl. Logistics (Tianjin) Co., Ltd. ( ( ) ) - GBP 1, GBP 1,350 ( ) Evergreen Shipping Agency (UK) Limited EMU - - GBP GBP

279 2011 Annual Report Evergreen Marine (UK) Ltd Lloyd triestino UK Limited EMU - - GBP GBP 0.3 Armand Investment (Netherlands) N.V. Armand Estate B.V USD 12, USD 12,448 ( ) Armand Estate B.V. Armand Estate B.V. 41 USD 12, USD 12,344 Greencompass Marine S.A. - - USD 5,000 - USD 5,000 Evergreen Shipping Agency (Singapore) Pte Ltd. RTW AIR SERVICES (S) PL EGS - 30 SGD SGD 44 Evergreen Shipping Agency (Thailand) Co., Ltd. Green Siam Air Service Co. EGT 4 THB 1, THB 1,160 Evergreen Shipping Agency (Deutschland) GmbH Evergreen Shipping Agency (Austria) GmbH EGD - EUR EUR 18 Zoll Pool Hafen Hamburg AG 10 EUR EUR 10 Evergreen Shipping Agency (Switzerland) S.A. 0.1 EUR EUR 69 ( )

280 8. ( ) ( ) ( ) ( ) ( ) ( ) $ 684,593 97% $ - - $ 38,695 51% ( ) Greencompass Marine S.A. Evergreen Marine (Hong Kong) Ltd. USD 13,148 1% 15~ USD 30,519 1% 15~ Evergreen International S.A. USD 31,968 2% 15~ Italia Marittima S.p.A USD 18,461 1% 15~ Evergreen Marine (Singapore) Pte. Ltd. USD 16,437 1% 15~ Evergreen Shipping Agency (Deutschland) GmbH USD 4,216 0% 15~ ( ) Evergreen Shipping Agency (Netherlands) B.V. USD 3,798 0% 15~ ( ) Evergreen Shipping Agency France S.A.S. USD 5,680 0% 15~ ( ) USD 4,079 0% 15~ Evergreen Marine (UK) Ltd. GBP 2,829 0% GBP 158 1% Evergreen Shipping Agency (Deutschland) GmbH Greencompass Marine S.A. EUR 2,702 26% - - EUR 244 3% ( ) Italia Marittima S.p.A EUR 2,947 28% - - EUR 266 4% Evergreen Shipping Agency (Netherlands) B.V. Greencompass Marine S.A. EUR 2,654 25% ( ) Evergreen Marine (Singapore) Pte. Ltd. EUR 2,749 25% Evergreen Shipping Agency France S.A.S. Greencompass Marine S.A. EUR 3,999 63% ( ) Island Equipment LLC Seaside Transportation Service LLC USD 4,496 27% USD 9 100% Evergreen Heavy Industrial Corp. (Malaysia) Berhad MYR 174,227 64% ( ) Greencompass Marine S.A MYR 72,026 26% MYR 20, % ( ) Evergreen Marine (Singapore) Pte. Ltd. MYR 27,820 10% ( ) 234

281 2011 Annual Report 9. Peony Investment S.A. Luanta Investment (Netherlands) N.V. USD 14,603 USD - - USD 14,603 USD - Evergreen Heavy Industrial Corp. (Malaysia) Berhad Greencompass Marine S.A. ( ) MYR 20,126 MYR - - MYR 20,126 MYR - Greencompass Marine S.A. ( ) USD 4,489 USD - - USD 4,489 USD - ( ) 235

282 10. Evergreen Marine (UK) Ltd : USD 39,700 (USD 8,260 ) USD 321 USD

283 2011 Annual Report ( ) ( 1) (Ningbo Victory Container Co., Ltd.) ( ) CNY 24,119 ( ) $ 30,806 (USD 1,018 ) (Qingdao Evergreen Container Storage & Transportation Co., Ltd.) ( ) CNY 92,500 ( ) $ 134,637 (USD 4,447 ) (Shenzhen Greentrans Transportation Co., Ltd.) CNY 44,960 ( ) $ 94,894 (USD 3,134 ) (Shenzhen Hutchison Inland Container Depots Co., Ltd.) HKD 92,000 ( ) $ 24,560 (HKD 6,304 ) ( ) (Kingtrans Intl. Logistics (Tianjin) Co., Ltd.) ( ) CNY 77,929 ( ) $ 121,106 (HKD 4,000 ) ( 3) $ 406,003 $ 1,092,749 $ 39,210,301 (USD 12,599 ) (USD 36,092 ) (HKD 6,304 ) ( $65,350,502) 1 ( ) ( ) ( ) ( ) ( ) 2 ( ) ( ) $ - $ - $ 30,806 (USD 1,018 ) - - $ 134,637 (USD 4,447 ) - - $ 94,894 (USD 3,134 ) - - $ 24,560 (HKD 6,304 ) $ - - $ 121,106 (HKD 4,000 ) ( 2)( (2) (3)) $ 6,062 (USD 206 ) $ 36,651 (USD 1,247 ) ($ 1,971 ) (USD -67 ) 6.85 $ $ 9,886 (USD 336 ) $ 68,332 (USD 2,257 ) $ 232,092 (USD 7,666 ) 96,614 (USD 3,191 ) $ 24,560 (HKD 6,304 ) $ 154,777 (USD 5,112 ) $

284 ( ) 100 ( ) ( ) (%) 0 ( ) ( ) 1 $ 38, , , Greencompass Marine S.A. 1 7, , , , , Evergreen Marine (UK) Limited 1 2, , , , PT.Multi Bina Pura International Evergreen Shipping Agency (India) Pvt. Ltd. 1 1, , Evergreen Shipping Agency (Thailand) Co., Ltd. 1 20, , PT. Evergreen Shipping Agency Indonesia 1-21, , Evergreen Shipping Agency (Singapore) Pte. Ltd

285 2011 Annual Report 100 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Singapore) Pte. Ltd. 1 $ 11, Evergreen Shipping Agency (Korea) Corporation 1 1, Evergreen Shipping Agency (Deutschland) GmbH 1-2, , Evergreen Shipping Agency (Ireland) Ltd Evergreen Shipping Agency (Netherlands) B.V , , Evergreen Shipping Agency (Poland) SP.ZO.O Evergreen Shipping Agency France S.A.S Evergreen Shipping (Spain) S.L. 1 1, Evergreen Shipping Agency (Italy) S.p.A. 1-12, ,312 - Evergreen Shipping Agency (Russia) Limited

286 100 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Russia) Limited 1 - $ 1, Evergreen Shipping Agency (Vietnam) Corp. 1 10, ,722 - Evergreen Shipping Agency (Australia) Pty. Ltd Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 1-1,379 - Everport Terminal Services Inc. 1 2,991-1 Greencompass Marine S.A. Evergreen Marine (UK) Limited 3 41, , , Evergreen Heavy Industrial Co., (Malaysia) Berhad 3 192, Evergreen Shipping Agency (India) Pvt. Ltd. 3-15, , Evergreen Shipping Agency (Thailand) Co., Ltd. 3-9, , , PT. Evergreen Shipping Agency Indonesia 3 3, , Evergreen Shipping Agency (Singapore) Pte. Ltd. 3-3, ,

287 2011 Annual Report 100 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Korea) Corporation 3 - $ 31, , , Evergreen Shipping Agency (Deutschland) GmbH 3-9, , , Evergreen Shipping Agency (Ireland) Ltd. 3 7, Evergreen Shipping Agency (Netherlands) B.V. 3 6, , , Evergreen Shipping Agency (Poland) SP.ZO.O 3-1, , Evergreen Shipping Agency France S.A.S. 3-6, , Evergreen Shipping (Spain) S.L. 3-7, , Evergreen Shipping Agency (Italy) S.p.A. 3-37, , , Evergreen Shipping Agency (Vietnam) Corp. 3-6,

288 100 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Vietnam) Corp. 3 $ 26, Evergreen Shipping Agency (Australia) Pty. Ltd , ,071 - Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 3-4, Evergreen Marine (UK) Limited Evergreen Shipping Agency (Thailand) Co., Ltd. 3-10, , , Evergreen Shipping Agency (India) Pvt. Ltd 3 25, , PT. Evergreen Shipping Agency Indonesia , Evergreen Shipping Agency (Singapore) Pte. Ltd. 3 2, , , Evergreen Shipping Agency (Korea) Corporation , Evergreen Shipping Agency (Deutschlan0d) GmbH

289 2011 Annual Report 100 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Evergreen Shipping Agency (Deutschlan0d) GmbH 3 $ 5, , , Evergreen Shipping Agency (Ireland) Ltd , ,162 - Evergreen Shipping Agency (Netherlands) B.V. 3 1, , , Evergreen Shipping Agency (Poland) SP.ZO.O ,787 - Evergreen Shipping Agency France S.A.S. 3-1, , Evergreen Shipping Agency (Russia) Limited 3 2, ,601 - Evergreen Shipping (Spain) S.L , Evergreen Shipping Agency (Italy) S.p.A. 3-10, , Evergreen Shipping Agency (Vietnam) Corp. 3-1, ,

290 100 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Evergreen Shipping Agency (Vietnam) Corp. 3 $ 30, Evergreen Shipping Agency (Australia) Pty. Ltd Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd ,040 - ( ) 3 45, Peony Investment S.A. PT. Evergreen Shipping Agency Indonesia 3 24, Evergreen Argentina S.A ( ) 3 45, PT.Multi Bina Pura International PT.Multi Bina Transport , ,387 - PT. Evergreen Shipping Agency Indonesia 3 1,267-5 Island Equipment LLC. Everport Terminal Services Inc. 3 4,389-6 Evergreen Shipping Agency (Russia) Limited Evergreen Shipping Agency (Deutschland) GmbH 3 6, , ,

291 2011 Annual Report 100 ( ) ( ) ( ) (%) 7 Evergreen Heavy Industrial Co., (Malaysia) Berhad ( ) 2 $ 1,652, Greencompass Marine S.A , PT.Multi Bina Transport PT. Evergreen Shipping Agency Indonesia 3 4,

292 ( ) 99 ( ) ( ) (%) 0 ( ) ( ) 1 $ 50, , , Greencompass Marine S.A. 1 6, , , , , Evergreen Marine (UK) Limited 1 2, , , , PT.Multi Bina Pura International Evergreen Shipping Agency (India) Pvt. Ltd. 1 6, , Evergreen Shipping Agency (Thailand) Co., Ltd. 1 17, , PT. Evergreen Shipping Agency Indonesia , , Evergreen Shipping Agency (Singapore) Pte. Ltd

293 2011 Annual Report 99 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Singapore) Pte. Ltd. 1 $ 11, Evergreen Shipping Agency (Korea) Corporation 1 2, Evergreen Shipping Agency (Deutschland) GmbH 1-1, , Evergreen Shipping Agency (Ireland) Ltd Evergreen Shipping Agency (Netherlands) B.V , ,303 - Evergreen Shipping Agency (Poland) SP.ZO.O ,827 - Evergreen Shipping Agency France S.A ,299 - Evergreen Shipping (Spain) S.L. 1 1, Evergreen Shipping Agency (Italy) S.p.A. 1-4, , Evergreen Shipping Agency (Russia) Limited Evergreen Shipping Agency (Vietnam) Corp. 1 8, ,565 - Evergreen Shipping Agency (Australia) Pty. Ltd

294 99 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 1 - $ Greencompass Marine S.A. Evergreen Marine (UK) Limited 3-6, Evergreen Heavy Industrial Co., (Malaysia) Berhad 3 1,429, , Evergreen Shipping Agency (India) Pvt. Ltd. 3 14, , Evergreen Shipping Agency (Thailand) Co., Ltd. 3 12, , , PT. Evergreen Shipping Agency Indonesia 3 20, , , Evergreen Shipping Agency (Singapore) Pte. Ltd. 3 18, ,846-1 Greencompass Marine S.A. Evergreen Shipping Agency (Singapore) Pte. Ltd. 3-2, , Evergreen Shipping Agency (Korea) Corporation 3 57, , ,

295 2011 Annual Report 99 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Deutschland) GmbH 3 $ 127, , , , Evergreen Shipping Agency (Ireland) Ltd. 3 8, , ,830 - Evergreen Shipping Agency (Netherlands) B.V. 3 51, , , Evergreen Shipping Agency (Poland) SP.ZO.O 3 9, , ,895 - Evergreen Shipping Agency France S.A. 3 70, ,900 - Evergreen Shipping (Spain) S.L. 3 55, , , ,778 - Evergreen Shipping Agency (Italy) S.p.A. 3-7, ,

296 99 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Italy) S.p.A. 3 $ 61, Evergreen Shipping Agency (Russia) Limited 3 8, Evergreen Shipping Agency (Vietnam) Corp. 3 13, , Evergreen Shipping Agency (Australia) Pty. Ltd. 3 7, , ,230 - Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd Evergreen Marine (UK) Limited Evergreen Shipping Agency (Thailand) Co., Ltd. 3-3, , Evergreen Shipping Agency (Thailand) Co., Ltd. 3 45, Evergreen Shipping Agency (India) Pvt. Ltd. 3 23, ,458 - PT. Evergreen Shipping Agency Indonesia 3 10, , ,

297 2011 Annual Report 99 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Island Equipment LLC. 3 $ 58, Evergreen Shipping Agency (Singapore) Pte. Ltd. 3 3, , Evergreen Shipping Agency (Korea) Corporation 3 16, , ,519 - Evergreen Shipping Agency (Deutschland) GmbH 3 4, , , Evergreen Shipping Agency (Ireland) Ltd , , Evergreen Shipping Agency (Netherlands) B.V , , , ,527 - Evergreen Shipping Agency (Poland) SP.ZO.O 3 6, , , ,

298 99 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Evergreen Shipping Agency France S.A. 3 - $ , , Evergreen Shipping (Spain) S.L. 3 30, , Evergreen Shipping Agency (Italy) S.p.A. 3-5, , , Evergreen Shipping Agency (Russia) Limited 3 1, Evergreen Shipping Agency (Vietnam) Corp. 3 38, ,417 - Evergreen Shipping Agency (Australia) Pty. Ltd Evergreen Shipping Agency (Australia) Pty. Ltd Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd PT.Multi Bina Pura International PT.Multi Bina Transport ,

299 2011 Annual Report 99 ( ) ( ) ( ) (%) 3 PT.Multi Bina Pura International PT.Multi Bina Transport 3 $ 4,698 - PT. Evergreen Shipping Agency Indonesia Clove Holding Ltd. Island Equipment LLC , Evergreen Shipping Agency (Deutschland) GmbH Evergreen Shipping Agency (Russia) Limited 3 3, , , PT.Multi Bina Transport PT. Evergreen Shipping Agency Indonesia 3 4,

300 ( ) (1) (2) (3) ( ) ( ) 100 $ 107,373,921 $ 492,990 $ 289,147 $ 108,156, ,963 38, ,521 ( 397,702 ) ( 14,911) ( 3,152 ) ( 415,765 ) ( 5,325,095 ) ( 178,529) ( 37,602 ) ( 5,541,226 ) 398,799 ( 2,337,334 ) - ( 1,938,535 ) ( ) ( 105,253,473 ) 1,540,585 ( 206,320 ) ( 103,919,208 ) ($ 3,003,587 ) ($ 458,302 ) $ 42,734 ($ 3,419,155 ) $ 105,181,314 $ 6,841,902 $ 2,069,723 $ 114,092,939 16,812,639 7,107,106-23,919,745 $ 121,993,953 $ 13,949,008 $ 2,069,723 $ 138,012,684 $ 69,773,205 $ 2,023,832 $ 614,112 $ 72,411,

301 2011 Annual Report 99 $ 108,532,369 $ 558,852 $ 261,955 $ 109,353, ,362 14,565 1, ,627 ( 378,396 ) ( 105,807 ) ( 14 ) ( 484,217 ) ( 5,395,371 ) ( 225,473 ) ( 38,793 ) ( 5,659,637 ) 2,816,179 1,521,247-4,337,426 ( 88,756,386 ) ( 159,953 ) ( 95,459 ) ( 89,011,798 ) $ 17,022,757 $ 1,603,431 $ 129,389 $ 18,755,577 $ 93,258,375 $ 6,913,791 $ 2,030,010 $ 102,202,176 17,812,865 9,550,442-27,363,307 $ 111,071,240 $ 16,464,233 $ 2,030,010 $ 129,565,483 $ 54,087,569 $ 4,597,765 $ 658,584 $ 59,343,918 ( ) ( ) % % $ 41,136, $ 39,778, ,710, ,404, ,596, ,936, ,397, ,561, $ 102,841, $ 104,680,

302 ( ) $ 15,258,095 $ 15,041,255 $ 16,586,236 $ 11,575,364 59,697,203 25,011,064 54,788,870 22,354,146 31,482,983 23,590,140 36,523,465 18,252,470 1,286,382 1,499,875 1,041, , ,395 16, ,050 21,991 $ 108,156,058 $ 65,158,712 $ 109,353,176 $ 53,089,732 ( ) 10% IFRSs 102 IFRSs IFRSs ( ) IFRSs IFRSs IFRSs 3. IFRSs 4. IFRSs 5. IFRS IFRSs 9. IFRS IFRSs 11. IFRSs ( ) 256

303 2011 Annual Report ( ) IFRSs IFRSs 102 IFRSs IFRSs (1) 3 (2) 3 (3) 3 ( )

304 4. (1) ) (2) 19 (3) 19 (4) (1) 1 (2)

305 2011 Annual Report % 13,655,639 9,968,985 3,686, % 64,053,206 68,104,188 (4,050,982) -5.95% 15,007,157 11,360,775 3,646, % 206, ,456 (16,068) -7.22% 92,922,390 89,656,404 3,265, % 7,613,383 10,636,628 (3,023,245) % 21,209,534 10,457,355 10,752, % 2,933,647 2,738, , % 31,756,564 23,832,884 7,923, % 34,734,581 31,248,395 3,486, % 7,480,392 7,202, , % 22,544,132 31,951,458 (9,407,326) % (3,593,279) (4,579,323) 986, % 61,165,826 65,823,520 (4,657,694) -7.08% (1) (2) (3) (4) (5) (6) (7) 259

306 % 15,361,235 17,026,011 (1,664,776) -9.78% 14,631,091 15,252,701 (621,610) -4.08% 730,144 1,773,310 (1,043,166) % 1,505,462 1,688,343 (182,881) % (775,318) 84,967 (860,285) % 1,630,140 16,395,786 (14,765,646) % 4,001, ,871 3,385, % ( ) (3,146,708) 15,864,882 (19,011,590) % ( ) (54,347) 699,431 (753,778) % ( ) (3,092,361) 15,165,451 (18,257,812) % % ( ) (3,092,361) 15,165,451 (18,257,812) % (1) 100 (2) (3) 100 ( ) (1) (2) (3) ( ) (1)+(2)+(3) 3,481,722 1,978, ,973 5,670,

307 2011 Annual Report ( ) (1) (2) (3) ( ) (1)+(2)+(3) 5,670,482 1,145,555 1,174,516 7,990, ( ) ~ ,000 20,600 41,200 41, ,000 25,750 36, ,000 41, ,000 5,150 25,750 30, , ,000-5,150 5,150 92, NTD1,465,570, ,253, ,993, ,324, Evergreen Heavy Industrial Corp. (M) Bhd. (EHIC(M)) 16,300 (USD) ( ) TEU (USD) (TWD) 20 2,600 7,600 7,600 19,760, ,451, ,160 1,200 2,400 4,992, ,549, ,368 7,500 15,000 32,760, ,050,475 16,300 25,000 57,512,000 1,690,051,

308 ( ) 100 3,595,320 ( ) ( ) ( ) ( ) 100 ( ) ( ) ( ) 262

309 2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( ) 263

310 ( ) 1. 70% ARMAND N.V. 100% ARMAND B.V. EVERPORT 100% 100% GMS VIGOR 100% CLOVE 90% AMPLE 100% 84.44% 55% 100% 51% EHIC (M) SGTC EGK EMU 36% ISLAND Whitney 100% 100% 15% 20% Hemlock E M C 55% PEONY 100% 100% 95% 100% 55% 55% 67.5% % 100% EGN EGD(WWX) EGB EGF EES EIT EMA EGI EGU(DBL) 20% 100% 51% 51% 51% 51% 51% 55% KTIL EGD ERU EGS EGT EGV EMI ESA TTSC 95.03% MBPI 72.95% MBT 17.39% 264

311 2011 Annual Report EMC PEONY Peony Investment S.A.( TTSC EVERPORT EVERPORT TERMINAL SERVICES INC. ARMAND N.V. ARMAND Investment N.V. ARMAND B.V. ARMAND Estate B.V. GMS Greencompass Marine S.A. ( VIGOR Vigor Enterprise S.A. CLOVE Clove Holding Ltd. AMPLE Ample Holding Ltd. EHIC (M) Evergreen Heavy Industrial Corp. (Malaysia) Berhad SGTC EGK Evergreen Shipping Agency (Korea) Corporation EMU Evergreen Marine (UK) Limited EGN Evergreen Shipping Agency (Netherlands) B.V. EGD (WWX) Evergreen Shipping Agency (Poland) SP. ZO. O EGD Evergreen Shipping Agency (Deutschland) GmbH EGB Evergreen Argentina S.A. ERU Evergreen Shipping Agency (Russia) Limited EGF Evergreen Shipping Agency France S.A.S. EGS Evergreen Shipping Agency (Singapore) Pte Ltd. EES Evergreen Shipping (Spain) S.L. ESA Evergreen Shipping Agency (South Africa) Pty Ltd. EGT Evergreen Shipping Agency (Thailand) Co., Ltd. EIT Evergreen Shipping Agency (Italy) S.p.A. EGV Evergreen Shipping Agency (Vietnam) Corp. EMA Evergreen Shipping Agency (Australia) Pty Ltd. EMI PT. Evergreen Shipping Agency Indonesia EGI Evergreen Shipping Agency (India) Private Limited. EGU (DBL) Evergreen Shipping Agency (Ireland) Ltd. MBPI PT. Multi Bina Pura International MBT PT. Multi Bina Transport ISLAND Island Equipment LLC Whitney Whitney Equipment LLC Hemlock Hemlock Equipment LLC KTIL 265

312 Peony Investment S.A. 82/01/04 East 53rd Street, Marbella, MMG Building, 2nd Floor,Panama,Republic of Panama USD 476,500 86/12/ NTD 100,000 EVERPORT TERMINAL SERVICES INC. 100/4/ Orange Street in the city of Wilmington, Country of New Castle USD 100 Greencompass Marine S.A. 82/08/16 East 53rd Street, Marbella, MMG Building, 2nd Floor,Panama,Republic of Panama USD 353,500 ARMAND Investment (Netherlands) N.V. 89/12/29 Van Engelenweg 23, Curacao, Netherlands Antilles USD 6 ARMAND Estate B.V. 89/04/18 Amsteldijk 166, 1101LH, Amsterdam EUR Vigor Enterprise S.A. 87/11/26 East 53rd Street, Marbella, MMG Building, 2nd Floor, Panama, Republic of Panama USD 500 Clove Holding Ltd. 89/11/16 Craigmuir Chambers, P.O.BOX71, Road Town,Tortola,B.V.I USD 10 Ample Holding Ltd. 90/01/22 Craigmuir Chambers, P.O.BOX71, Road Town,Tortola,B.V.I USD 10 Evergreen Heavy Industrial Corp. (Malaysia) SDN.BHD 78/06/06 Lot 139, Jalan, Cecair Phase 2 Free Trade Zone, Johor Port Authority, Pasir Gudang, Johor, Johore Bahru, Malaysia MYR 49,879 87/03/06 RMB 44,960 Evergreen Marine (UK) Limited 90/04/ Euston Road,London NW12 DX,U.K. GBP 1,500 PT. Multi Bina Pura International 81/09/10 JL Raya Cakung Cilincing KM.4, Jakarta Utara 14260, Indonesla RP159,042,000 PT. Multi Bina Transport 83/01/01 JL. Raya Cakung Cilincing KM.4, Jakarta Utara 14260, Indonesia RP 10,350,

313 2011 Annual Report Island Equipment LLC 91/05/ Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 400 Whitney Equipment LLC 94/03/ Centerville Road, Suite 400, Wilmington, Delaware USD 200 Hemlock Equipment LLC 94/03/ Centerville Road, Suite 400, Wilmington, Delaware USD 200 Evergreen Shipping Agency (Deutschland) GmbH 75/10/02 Evergreen Building Amsinckstrasse Hamburg, Germany EUR 61 Evergreen Shipping Agency (Ireland) Ltd 76/08/24 22 Fiztwilliam Place, Dublin 2, Ireland EUR 0.1 Evergreen Shipping Agency (Korea) Corporation 90/01/01 12F, Royal Buliding.5, Dangju-dong Chongro-Ku, Seoul, Republic of Korea KRW 606,000 Evergreen Shipping Agency (Netherlands) B.V. 79/10/17 Portcity Havennummer 2235 Waalhaven ZZ JH Rotterdam EUR 24 Evergreen Shipping Agency (Poland) SP. ZO. O 86/10/03 UL. SOLEC 22, WARSZAWA, POLAND PLN 170 Evergreen Shipping Agency (India) Private Limited. 93/01/19 Marahon Nextgon InnovaA G01, Opp.Peninsula Corporate Park, Off G..K.Marg. Lower Parel(W) Mumbai INR 1,000 Evergreen Shipping Agency France S.A.S. 89/03/31 Tour Franklin-La Defense 8, PARIS LA DEFENSE CEDEX-FRANCE. EUR 500 Evergreen Argentina S.A. 86/10/31 Pje. Carabelas 344, CABA, Bs. As. Argentina ARS 1,580 Evergreen Shipping (Spain) S.L. 96/01/01 CALLE SIETE AGUAS, 11 - ENTLO VALENCIA, SPAIN EUR 600 Evergreen Shipping Agency (Italy) S.p.A. 94/11/09 SCALI CERERE, 9 LIVORNO ITALY EUR 2,

314 Evergreen Shipping Agency (Australia) Pty Ltd. 91/05/27 Level 13,181 Miller Street, North Sydney NSW 2060 Australia AUD 1 Evergreen Shipping Agency (Russia) Limited 94/09/01 Evergreen Office,11 millionnaya street, St. Petersburg, RUSSIA RUB 6,000 Evergreen Shipping Agency (Singapore) Pte Ltd. 89/10/ Cantonment Road Southpoint, Singapore SGD 1,500 Evergreen Shipping Agency (Thailand) Co., Ltd. 90/02/14 Green Tower, 24-25th Floors, 3656/81 Rama IV Road, Klongton Klongtoey Bangkok THB 40,000 Evergreen Shipping Agency (Vietnam) Corp. 92/01/01 11F, Fideco Tower Ham Nghi St., Dist.1, Ho Chi Minh City, Vietnam VND 10,841,586 PT. Evergreen Shipping Agency Indonesia 91/12/18 GD.MEGA PLAZA 9 th Floor, JL.HR.Rasuna Said Kav. C-3,Jakarta 12920, Indonesia RP 9,000,000 Evergreen Agency (South Africa) (Proprietary) Ltd. 98/04/01 9B Riley Road,Bedfordview, Johannesburg 2007, South Africa ZAR 10,000 ( ) 95/11/ RMB 77,929 ( ) IDR TWD = CND TWD= MYRTWD = GBP TWD = EUR TWD= KRW TWD = INR TWD = ARS TWD= AUD TWD = RUB TWD = SGD TWD= THB TWD = VND TWD = ZAR TWD= PLN TWD =

315 2011 Annual Report 5. ( ) / ( ) ISLAND EQUIPMENT LLC WHITNEY EQUIPMENT LLC HEMLOCK EQUIPMENT LLC EVERPORT TERMINAL SERVICES INC. ARMAND INVESTMENT (NETHERLANDS) N.V. C.T.M. Corporation N.V. CEO&President: Secretary: Treasurer: CEO&President: Secretary: Treasurer: CEO&President: Secretary: Treasurer: CEO&President: Secretary: Managing Director: C.T.M. Corporation N.V. USD 400,000 USD 200,000 USD 200,000 USD 100,000 USD 6,000 CLOVE HOLDING LTD. USD 10,000 AMPLE HOLDING LTD. USD 10,000 SHENZHEN GREEN- TRANS TRANSPORTA- TION CO., LTD. ( ) KINGTRANS INTL. LOGIS- TICS (TIANJIN) CO., LTD. ARMAND ESTATE B.V. EVERGREEN SHIPPING AGENCY (NETHER- LANDS) B.V. PT MULTI BINA PURA IN- TERNATIONAL PT MULTI BINA TRANS- PORT PT. EVERGREEN SHIPPING AGENCY INDONESIA * 3 : A.W.M. Jansen * 1 : M. F. Permadi * 1 : M. F. Permadi * 1 : Gunadi Widjaya : : : : : C: VC: P: : Managing Director: A.W.M. Jansen Managing Director: President: President Director: Managing Director: Comissioner: ( ) Gunadi Widjaja. President Director: Comissioner:Gunadi Widjaya Chairman: Gunadi Widjaya President: Comissioner: RMB44,960,000 USD 10,000,000 EUR 20, EUR 23,500 USD6,000,000 IDR 10,350,000,000 USD 1,012,

316 EVERGREEN HEAVY INDUSTRIAL CORP. (M) BERHAD ( : ) ( : ) * 1 : Chairman: Secretary: Yong May Li MYR 49,878,735 PEONY INVESTMENT S.A. President: Secretary: Treasurer: USD 476,500,000 GREENCOMPASS MA- RINE S.A. President: Secretary: Treasurer: USD 353,500,000 VIGOR ENTERPRISE S.A. President: Secretart: Treasurer: USD 500,000 EVERGREEN MARINE(UK) LIMITED Maurice Storey : Maurice Storey Chairman: President&Secretary: GBP 1,500,000 EVERGREEN SHIPPING AGENCY (IRELAND) LTD. Chairman: Secretary: EUR EVERGREEN SHIPPING AGENCY (DEUTSCH- LAND) GMBH Chairman: Managing Director: EUR 61, EVERGREEN SHIPPING AGENCY (KOREA) COR- PORATION Chairman: President: Statutory Auditor: KRW 606,000,000 EVERGREEN SHIPPING AGENCY(POLAND) SP. ZO. O PLN 170,000 EVERGREEN SHIPPING AGENCY (INDIA) PRIVATE LIMITED. President: INR 1,000,000 EVERGREEN ARGENTINA S.A. Chairman: ARS 1,580,000 EVERGREEN SHIPPING AGENCY FRANCE SAS Chairman:Peony( : ) General Manager: Martine Toulot EUR 500,000 EVERGREEN SHIPPING SPAIN S.L. * 2 : JOSÉ MARIA ROMEU LOPER- ENA, ERNESTO ROMEU ARMEN- GOL Chairman: JOSÉ MARIA ROMEU LOPERENA President: EUR 600,

317 2011 Annual Report EVERGREEN SHIPPING AGENCY (ITALY) S.P.A. EVERGREEN SHIPPING AGENCY (AUSTRALIA) PTY LTD. EVERGREEN SHIPPING AGENCY (RUSSIA) LIM- ITED EVERGREEN SHIPPING AGENCY (SINGAPORE) PTE LTD. EVERGREEN SHIPPING AGENCY (THAILAND) CO., LTD. EVERGREEN SHIPPING AGENCY (VIETNAM) CORP. EVERGREEN AGENCY (SOUTH AFRICA) (PRO- PRIETARY) LIMITED * 2 : Pier Luigi Maneschi, Antonio Maneschi * 1 :Murray david Read * 2 : Komarov Alexander Ivanovitch, Laitinen Jouni Olli-Pekka * 2 : Mr. Phoon Thin Choy, Mr. Patrick Ang Boon Yam * 2 : Mr. Nivat Changariyavong, Mr. Krirkkla Sonthimas * 2 : Pham Van Thuan, Bui Tuan Ngoc * CHEN, Chih-yi CHEN, Lee-chun Moegamat Zain Davids Chairman: Pier Luigi Maneschi President: Internal Statutroy Board: Mr. Massimo Quartarone (Chairman) Mr. Vinicio Ferracci (Auditor) Mr. Paolo Torracca (Auditor) Mr. Luca Paoletti (Alternate Auditor) Mr. Lorenzo Mamone (Alternate Auditor) Chairman: President: EUR 2,000,000 AUD 1,000 President: RUB 6,000,000 President: First Deputy President -- Le Vinh Truong SGD 1,500,000 THB 40,000,000 USD 700,000 ZAR 10,000,000 : TWD 100,

318 ( ) ( )( ) Peony Investment S.A. 14,426,752 45,000,892 70,257 44,930,636 (3,793,556) (3,833,841) (3,832,744) (804) 100, , , , ,445 8,333 8,667 1 Everport Terminal Services Inc. 3,028 10,407 7,379 3, Greencompass Marine S.A. 10,702,743 39,705,985 13,050,963 26,655,023 59,245,962 (3,116,405) (2,957,690) (837) Armand Investment (Netherlands) N.V , ,782 (10,118) (10,457) (10,456) (1,743) Armand Estate (Netherlands) B.V , ,880 (8,878) (10,113) (10,118) (224,849) Vigor Enterprise S.A. 15,138 15, ,508 0 (491) (445) (89) Clove Holding Ltd ,425, ,816 1,938, , ,405 1,538, ,872 Ample Holding Ltd ,195, ,382 1,207, , , ,525 11,253 Evergreen Heavy Industrial Corp.MalaysiaBerhad 476,494 2,172, ,359 1,646,268 2,633, , , , ,032 3, ,661 0 (5,170) (3,584) Evergreen Marine (UK) Limited 69,966 28,843,464 23,036,167 5,807,297 30,140,077 (1,713,142) (1,753,629) (1,169) PT. Multi Bina Pura International 726, ,840 22, , , , ,053 1,455 PT. MULTI BINATRANSPORT 34,559 85,838 17,502 68, ,321 34,138 26,994 2,608 Island Equipment LLC 12, ,700 25, ,412 45,072 41,029 28,

319 2011 Annual Report ( ) ( )( ) Whitney Equipment LLC 6,055 1,323,031 1,266,022 57, ,639 19,211 18,136 - Hemlock Equipment LLC 6, , , , ,351 29,027 26,936 - Evergreen Shipping Agency (Deutschland) GmbH 2, , , , ,497 18,933 10,962 - Evergreen Shipping Agency (Ireland) Ltd 5 10,359 4,146 6,213 25, ,106 Evergreen Shipping Agency (Korea) Corporation 15, , ,877 41,739 97,128 (3,490) (2,614) (22) Evergreen Shipping Agency (Netherlands) B.V , , , ,286 12,882 8, ,858 Evergreen Shipping Agency (Poland) SP. ZO. O 1,510 57,720 41,038 16,682 28, Evergreen Shipping Agency (India) Private Limited , ,715 86, ,213 36,880 29, Evergreen Shipping Agency France S.A.S. 19, , ,953 44, ,912 7,058 5,729 1,146 Evergreen Argentina S.A. 11,129 89,757 87,720 2,037 10,821 4,151 (5,570) (35) Evergreen Shipping (Spain) S.L. 23, , , , , , ,576 21,763 Evergreen Shipping Agency (Italy) S.p.A. 78, , ,251 99, ,432 (12,476) (16,538) (16,538) Evergreen Shipping Agency (Australia) Pty Ltd , ,449 18, ,088 4,178 12,300 12,

320 ( ) ( )( ) Evergreen Shipping Agency 5,656 93,561 35,636 57, ,843 65,162 55,428 (Russia) Limited - Evergreen Shipping Agency (Singapore) Pte Ltd. 34, , , , ,081 22,053 20, Evergreen Shipping Agency (Thailand) Co., Ltd. 38, , , , ,771 60,571 40, Evergreen Shipping Agency 21, , ,062 84, ,106 77,065 68,509 (Vietnam) Corp. - PT. Evergreen Shipping Agency Indonesia 30, , , , ,385 47,912 42,663 47,404 Evergreen Agency (South Africa) (Pty) Ltd. 37, , , , ,300 92,782 71,041 7 KINGTRANS INTERNATIONAL 302, , , , ,016 34,644 24,716 LOGISTICS (TIANJIN) CO., LTD USD NTD= IDR NTD= RMB NTD= MYR NTD= GBP NTD= EUR NTD= KRW NTD= INR NTD= ARS NTD= AUD NTD= RUB NTD= SGD NTD= THB NTD= VND NTD= ZAR NTD= PLN NTD=

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