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166 (02) 2505-7766 163 (03) 312-3508 116 (07) 571-5171 68 (07) 813-5171 www.evergreen-marine.com 166 2 (02) 2500-1668 stock.evergreen.com.tw (02) 2505-7766 E - MAILmgt@evergreen-marine.com (02) 2505-7766 E - MAILpublic@evergreen-marine.com 33327 (02) 2729-6666 www.pwc.com/tw www.londonstockexchange.com

2 2 8 11 14 14 14 24 24 26 37 54 55 56 57 60 63 64 64 71 74 75 76 76 76 77 77 80 86 87 88 92 99 99 101 104 105 170 259 259 260 260 261 262 262 263 264 264 276 276 276 276

100 ( ) 1. Alphaliner 100 2.8% 99 16.9% 0.8%Alphaliner 7.7% 2

2011 Annual Report 2. Alphaliner 100 7.9% TEU 63 8 TEU ( 0.5%) 246 60 TEU ( 4%) 99 581 151 TEU ( 11.6%) 3. 99 100 4. 3

TEU ( ) 1. 2. 3. 4. 4

2011 Annual Report ( ) 100 156.82 153.61 97.95% ( ) 1. 100 153.61 99 170.26 16.65 100 146.31 99 152.53 6.22 100 2. -3.08% -4.87% -20.13% ( )-0.89 5

( ) 1. S-Type 101 7 L-Type 100 8 11 (Discovery Channel) 6

2011 Annual Report 2. (ShipmentLink.com) 97 101 11 7

3. 100 10 5 ( 94-98) 99 ( ) 101 1. - 2. - 3. - 4. - 8

2011 Annual Report 5. - 6. - ( ) 1. 101 Alphaliner 1 101 6.5% 7.7% 1.5% Piers 2.5% ( ) 9

6%-7% 2. Alphaliner 101 5 101 7.9% TEU (Cascade Effect) ( Alphaliner TEU 39% 101 9 TEU 101 20 TEU 10 TEU ) 3. 10

2011 Annual Report ( ) ( ) (TPP) (APEC) (ASEAN) (WTO) (ECFA) ( ) (IMF) 101 3.5%( 2.1% 11

-0.3% 8.2% 5.7%) 101 7 104 30 L-Type 12

2011 Annual Report 13

57 58 / ( ) 61 / ( ) 63 64 / 65 / 66 67 / 68 / / 71 G 73 / 14

2011 Annual Report 74 / 75 76 78 / 82 82 83 / / / / / 84 85 / / / / / 86 / / / NK / 15

87 / / 88 89 90 (DNV) ISO-9001:2000 ( )(TESCO) TEU 16

2011 Annual Report 91 / / (NUE) / / (WAE) CMA CGM / ANLHANJIN / / (Environmental Excellence Award) ZIM / ZIM / (Safety, Quality & Environmental Management) ISO 9001:2000 92 CMA CGM / CMA CGM 17

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

2011 Annual Report / / (JHX) (FRS) Global Marine Russia Limited(GMR) 2005 95 (FRS) / / (CIX) / / (THX) / / (CUE) / (CSI) (ECSA) (ESA) 2006 19

/ / / / / / 96 / / (ESA) / (FAX) / (SRS) / (NSE/NS6) / (AEM) 2007 / (AU3) 97 / (CEM) / (KHP) (TFS) / (JAS) / / (TCA) / (FPS) (Wal-Mart Stores Inc.) 2007/2008 20

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

(FEM) / (PNW) 2009 99 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) 311 22

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

( ) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. / / / 11. / 12. 13. ( ) 14. / / 15. 16. 24

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

( ) 1. 101 4 30 ( ) ( 1) ( 2) ( 2) ( ) ( ) 100.06.24 3 93.06.24 405,813 0.013 446,392 0.013 0 0.000 100.06.24 3 99.02.25 0 0.000 8,434 0.000 0 0.000 0 0.000 100.06.24 3 100.06.24 100,000 0.003 109,999 0.003 0 0.000 100.06.24 3 57.09.03 0 0.000 208,488,125 6.000 28,543,866 0.821 0 0.000 ( ) 100.06.24 3 93.06.24 405,813 0.013 446,392 0.013 0 0.000 100.06.24 3 71.06.12 0 0.000 1,365,300 0.039 0 0.000 0 0.000 100.06.24 3 100.06.24 0 0.000 0 0.000 0 0.000 0 0.000 100.06.24 3 77.03.25 ( 3) 100.06.24 3 98.06.19 ( 4) 335,852,401 10.636 369,435,942 10.631 0 0.000 0 0.000 16,351 0.000 0 0.000 0 0.000 100.06.24 3 98.08.27 0 0.000 36,022 0.001 60,091 0.002 0 0.000 100.06.24 3 100.01.01 0 0.000 0 0.000 0 0.000 0 0.000 26

2011 Annual Report ( ) ( 1) ( 2) ( 2) ( ) 100.06.24 3 96.06.27 134,111,410 4.247 147,521,872 4.245 0 0.000 100.06.24 3 71.06.12 ( 5) 0 0.000 87,284 0.003 0 0.000 0 0.000 100.06.24 3 96.06.27 0 0.000 0 0.000 23,017 0.001 0 0.000 1100.06.24 3,157,653,807 2 101.04.30 3,474,940,656 3 78.10.27 90.06.19 96.06.27 98.06.18 4 98.08.27~100.06.23 5 72.04.01 72.06.10 73.06.12 81.05.08 27

2. ( 1) ( 2) 101 4 30 (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 ( ) 3. 101 4 30 ( 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%) 28 1 2 3 ( )

2011 Annual Report 4. 101 4 30 ( 1) ( 2) 1 2 3 4 5 6 7 8 9 10 0 0 0 0 0 0 0 0 0 1 2 (1) (2) ( ) (3) (4) (5) (6) ( ) ( ) (7) ( ) ( ) (8) (9) 30 (10) 27 29

( ) ( ) 100.01.01 0 0.000 0 0.000 0 0.000 ( ) 99.12.01 0 0.000 0 0.000 0 0.000 96.01.01 5,661 0.000 0 0.000 0 0.000 101.03.01 6,605 0.000 0 0.000 0 0.000 100.04.21 0 0.000 0 0.000 0 0.000 100.09.01 0 0.000 0 0.000 0 0.000 98.10.01 0 0.000 0 0.000 0 0.000 101.01.01 0 0.000 0 0.000 0 0.000 93.08.05 0 0.000 0 0.000 0 0.000 101.03.02 476 0.000 0 0.000 0 0.000 97.01.01 0 0.000 0 0.000 0 0.000 101.01.01 0 0.000 0 0.000 0 0.000 101.01.01 0 0.000 0 0.000 0 0.000 ( ) : ( ) : : : ERASMUS UNIVERSITY BUSINESS INFORMATICS 101 4 30 30

2011 Annual Report ( ) 95.01.01 691 0.000 0 0.000 0 0.000 100.01.01 0 0.000 0 0.000 0 0.000 100.10.01 0 0.000 0 0.000 0 0.000 100.01.01 0 0.000 0 0.000 0 0.000 100.01.01 0 0.000 118 0.000 0 0.000 97.01.01 7,849 0.000 0 0.000 0 0.000 ( ) 101.01.01 43,338 0.001 0 0.000 0 0.000 101.02.15 0 0.000 0 0.000 0 0.000 101.01.01 1,099 0.000 0 0.000 0 0.000 98.01.01 5,884 0.000 0 0.000 0 0.000 95.01.01 0 0.000 0 0.000 0 0.000 98.04.01 0 0.000 0 0.000 0 0.000 98.10.01 0 0.000 0 0.000 0 0.000 100.12.01 0 0.000 0 0.000 0 0.000 ( ) ( ) LKB LAWRENCE TECHNOLOGICAL UNIVERSITY BUSINESS ADMINISTRATION 31

( ) 100.07.01 0 0.000 0 0.000 0 0.000 101.02.01 3,299 0.000 212 0.000 0 0.000 ( ) 100.01.01 0 0.000 1,076 0.000 0 0.000 101.01.01 0 0.000 0 0.000 0 0.000 100.12.28 0 0.000 0 0.000 0 0.000 101.01.01 0 0.000 0 0.000 0 0.000 95.04.01 0 0.000 0 0.000 0 0.000 100.01.01 0 0.000 0 0.000 0 0.000 101.01.01 21 0.000 0 0.000 0 0.000 97.02.20 0 0.000 0 0.000 0 0.000 97.01.01 120 0.000 0 0.000 0 0.000 101.01.01 0 0.000 0 0.000 0 0.000 100.01.01 0 0.000 0 0.000 0 0.000 100.11.25 0 0.000 0 0.000 0 0.000 ( ) LLOYD TRIESTINO 32

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 5,500 0 0 144 144-0.31-0.26 0 0 0 0 0 0 0 0 0 0-0.31-0.26 0 0 9,334 0 0 0 0 0 0 0-0.25 0 0 0 0 0 0 0 0 0 0 0-0.25 10,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8,084 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 117 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 24 0 0 0 0 0 0 0 0 0 0 3,546 3,546 0 0 0 0 0 0 0 0-0.11-0.10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,800 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1100.06.24 2100.06.24 3 101 100 2. : (A) (B) ( ) (C) AB C 0 0 0 0 0 0 0 0 10,924 0 0 0 0 0 0 0 0 0 100 33

3. (A) (B) ( 1) (C) (D) ( 2) AB C D (%) 19,906 19,906 0 0 6,087 6,087 0 0 0 0-0.84-0.71 0 0 188 1 2 101 100 2,000,000 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 ( ) 100,000,000 9 9 34

2011 Annual Report 4. (%)100 12 31 ( 1) ( 1) ( ) ( ) 0 0 0 0 1. 100 12 31 2. 101 100 35

( ) A. 99 100 99 100 0.38% -0.42% 0.37% -0.61% 0.06% 0% 0.05% 0% 0.24% -0.84% 0.20% -0.71% B. 36

2011 Annual Report ( ) 100 11 ( 1) ( ) (B) ( ) (%) B/A( 2) ( ) 8 3 72.73% (A)11 100.6.24 0 11 0% (A)11 100.6.24 ( ) 11 0 100% (A)11 100.6.24 (A)7 1 6 14.29% 100.6.24 (A)11 10 0 90.91% 100.6.24 (A)11 11 0 100% 100.6.24 ( ) 7 0 100% (A)7 100.6.24 ( ) 4 0 100% (A)4 100.6.24 (A)4 0 4 0% 100.6.24 (A)11 11 0 100% 100.6.24 (A)11 11 0 100% 100.6.24 37

38 14 3 ( ) 100 5 20 ( ) (Uni-Probity) ( ) ( ) 5 ( ) 100 8 26 ( ) (Uni-Prosper) ( ) ( ) 4 ( ) 100 9 30 ( ) 6 ( ) 100 12 30 ( ) ( ) ( ) 5 100 ( ) 5

2011 Annual Report 101 ( ) 5 101 ( ) 6 100 ( ) 6 ( ) ( ) 100 ( ) 8 A 1 2 (1) ( ) (%) ( ) (2) ( ) (%) ( ) 39

( ) 1. 2. 100 11 (A) (B) (%) (B/A)( ) 11 11 100% 100.6.24 11 11 100% 100.6.24 ( ) ( ) E-Mail ( ) ( ) (%) (%) 40

2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 1. ( http://www.evergreenmarine.com) 2. ( http://stock.evergreen.com. tw) 41

100 9 30 43 ( ) ( ) 1. ( ) 2. 3. 4. ( ) ( ) 100 3 4 LCD 3 ( ) ( ) ( ) 42

2011 Annual Report ( ) 1. 100 9 30 3 2. : (1) (2) 3. 100 1 (A) (B) (B/A) 1 0 100% 1 0 100% 1 0 100% 43

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

2011 Annual Report ( ) ( ) ( ) ( ) ( ) ( ) ( ) 99 3 (http://www.evergreen-line.com/tw/enviro) 45

( ) 100 3 11 9.0 100 11 22 (UNI-ASPIRE) Bright Ruby (Discovery Channel) 100 11 19 99 100 ( ) DNV ISO 9001 ( DNV ) ( ) http://mops.twse.com.tw http://stock.evergreen.com.tw/ 46

2011 Annual Report ( ) 1. 8 A 2. 100 3 4 LCD (3 ) 100 3 4 LCD (3 ) 3. (1) 1. /6 1. 100 / 04 / 25 2. 100 / 10 / 11 1. 2. 2. COSO IFRS IFRS /6 1. 1. 100 / 08 /26 2. 100 / 11 / 22 1. 2. ~ /6 2. ~ /6 1. 1. 100 / 06 /27 2. 100 / 10 / 18 1. 2. /6 2. IFRS IFRS /6 1. 1. 100 / 03 /31 2. 100 / 09 /20 1. 2. ~ /6 2. ~ (CIA) /6 47

1. 1. ~ 1. 100 / 01 /14 2. 100 / 10 / 21 2. /6 2. ~ /6 1. 1. 100 / 08 /26 2. 100 / 09 /30 1. 2. ~ /6 2. ~ /6 1. 1. 100 / 06 / 17 2. 100 / 06 / 24 1. 2. ~ /6 2. ~ /6 1. ~ 1. 100 / 05 / 12 2. 100 / 08 / 23 1. 2. /6 2. ~ /6 100 / 06 / 27 100 / 06 / 29 /18 (2) 100 11 25 6 101 11 24 48

2011 Annual Report ( ) 1. 101 3 16 100 ( ) ( ) 1. 2. 3. 4. 5. 49

100 12 31 ( ) 101 3 16 7 ( ) 50

2011 Annual Report 2. ( ) ( ) 1. 100 (1) 99 a. 100 3,157,544,030 1 3,157,544,027 b. a. 3 1 0.99994943 100 99.994943 b. 100 9 29 (2) 3,157,544,030 315,754,403 100 9 29 (3) (4) 7 2 10001140700 (5) 100 (6) (7) 2. 100 3 22 (1) Clove Holding Ltd. (2) 99 (3) 99 (4) (5) 99 (6) 51

(7) 100 (8) 100 3 22 3 (9) 100 (10) 100 (11) 100 100 4 29 (1) 100 4 29 3 (2) (3) (4) 100 100 5 20 (1) ( ) - (Uni- Probity) (2) ( ) 3 8,000 TEU 100 6 3 SAMSUNG HEAVY INDUSTRIES CO., LTD. 7 8,000 TEU 2 100 6 24 100 7 18 156,859,247 50,000,000 100 8 5 100 9 7 9 29 100 8 26 (1) 100 (2) 100 9 7 3 (3) ( ) - (Uni-Prosper) (4) 100 100 9 30 (1) (2) 100 11 25 100 11 25 100 12 30 (1) 101 (2) (3) 52

2011 Annual Report (4) ( ) ( ) (5) 100 (6) 101 (7) 101 (8) 100 101 3 16 (1) 100 (2) 100 (3) 100 (4) 101 (5) 100 (6) (7) 101 (8) (9) (10) (11) (12) (13) 101 ( ) ( ) 101 4 30 98 9 1 100 6 24 100 99 3 1 100 1 1 100 1 1 95 4 24 100 11 25 53

( ) ( ) 12,720 0 174 0 850 1,024 100.01.01 100.12.31 1. 2. ( ) ( ) 54

2011 Annual Report ( ) 100 3 22 ( ) V ( ) 55

( ) 100 3 22 ( ) 10 5 1 2 3 56

2011 Annual Report ( ) 100 101 4 30 ( ) ( ) ( ) ( ) ( ) 40,579 0 0 0 766 0 0 0 9,999 0 0 0 18,952,594 0 0 0 ( ) 40,579 0 0 0 124,112 0 0 0 (100 6 24 ) 0 0 0 0 (100 6 24 ) 33,583,541 0 0 0 1,486 0 0 0 3,274 0 0 0 ( ) 0 0 0 0 13,410,462 0 0 0 7,934 0 0 0 0 0 0 0 33,583,541 0 0 0 ( ) 0 0 0 0 514 0 0 0 600 (10,000) 0 0 0 (100 4 21 ) 0 0 0 0 57

100 101 4 30 ( ) ( ) ( ) ( ) (100 9 1 ) 0 0 0 0 0 0 0 0 (101 1 1 ) 0 0 0 0 0 0 0 0 (101 3 2 ) 0 0 0 0 0 0 0 0 (101 1 1 ) 0 0 0 0 0 0 0 0 62 0 0 0 0 0 0 0 (100 10 1 ) 0 0 0 0 0 0 0 0 0 0 0 0 713 0 0 0 (101 1 1 ) (101 2 15 ) 0 0 0 0 0 0 0 0 1,099 0 0 0 534 0 0 0 58

2011 Annual Report 100 101 4 30 ( ) ( ) ( ) ( ) 0 0 0 0 0 0 0 0 0 0 0 0 (100 12 1 ) (100 7 1 ) (101 2 1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (101 1 1 ) (100 12 28 ) (101 1 1 ) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (101 1 1 ) 0 0 0 0 0 0 0 0 10 0 0 0 (101 1 1 ) 0 0 0 0 0 0 0 0 ( ) (100 11 25 ) 0 0 0 0 59

( ) ( ) ( ) 369,435,942 10.63 0 0 0 0 262,517,283 7.55 42,132,399 1.21 0 0 247,275,395 7.12 0 0 0 0 60

2011 Annual Report ( ) 208,488,125 6.00 28,543,866 0.82 0 0 147,521,872 4.25 0 0 0 0 147,214,248 4.24 0 0 0 0 61

( ) 110,194,786 3.17 37,121,671 1.07 0 0 73,513,159 2.12 70,154,860 2.02 0 0 70,154,860 2.02 73,513,159 2.12 0 0 ( ) 53,816,157 1.55 0 0 0 0 62

2011 Annual Report 100 12 31 ( ) 424,062 39.74 24,831 2.33 448,893 42.07 629,483 19.32 100,460 3.08 729,943 22.40 5,500 55.00 0 0 5,500 55.00 5,280 31.25 0 0 5,280 31.25 47,204 40.00 0 0 47,204 40.00 88,344 21.03 41,000 9.76 129,344 30.80 Peony Investment S.A. 4,765 100.00 0 0 4,765 100.00 63

( ) 95.03 10 3,300,000,000 33,000,000,000 2,725,167,586 27,251,675,860 17,642,988 09501070730 09501196770 95.08 10 3,600,000,000 36,000,000,000 2,915,929,317 29,159,293,170 190,761,731 0950130032 96.03 10 3,600,000,000 36,000,000,000 2,923,345,834 29,233,458,340 7,416,517 09601098960 96.06 10 3,600,000,000 36,000,000,000 2,923,482,670 29,234,826,700 136,836 09601168080 96.08 10 3,600,000,000 36,000,000,000 2,929,700,491 29,297,004,910 6,217,821 09601227620 96.10 10 3,600,000,000 36,000,000,000 3,018,667,767 30,186,677,670 88,967,276 09601280960 96.12 10 3,600,000,000 36,000,000,000 3,033,539,954 30,335,399,540 14,872,187 09701005250 97.03 10 3,600,000,000 36,000,000,000 3,044,710,377 30,447,103,770 11,170,423 09701087150 97.06 10 3,600,000,000 36,000,000,000 3,060,844,007 30,608,440,070 16,133,630 09701177730 64

2011 Annual Report 97.08 10 3,600,000,000 36,000,000,000 3,060,938,941 30,609,389,410 94,934 09701244270 98.08 10 3,600,000,000 36,000,000,000 3,062,599,149 30,625,991,490 1,660,208 09801220320 99.08 10 3,600,000,000 36,000,000,000 3,065,493,353 30,654,933,530 2,894,204 09901200810 99.12 10 3,600,000,000 36,000,000,000 3,104,405,427 31,044,054,270 38,912,074 10001006760 100.03 10 3,600,000,000 36,000,000,000 3,155,787,541 31,557,875,410 51,382,114 10001067360 100.04 10 3,600,000,000 36,000,000,000 3,157,643,827 31,576,438,270 1,856,286 100011101430 100.08 10 3,600,000,000 36,000,000,000 3,473,458,110 34,734,581,100 59,880 315,754,403 1000035689 10001067360 3,474,940,656 125,059,344 3,600,000,000 101.04.30 65

( ) 101 4 17 7 38 247 478 124,939 125,709 15,854,972 106,934,911 484,683,993 1,116,180,249 1,751,286,531 3,474,940,656 % 0.46% 3.08% 13.95% 32.12% 50.39% 100.00% ( ) 10 101 4 17 % 1 999 49,166 14,149,764 0.41% 1,000 5,000 46,616 105,060,272 3.02% 5,001 10,000 13,609 92,818,839 2.67% 10,001 15,000 6,750 80,417,608 2.31% 15,001 20,000 2,431 42,475,072 1.22% 20,001 30,000 2,826 67,725,931 1.95% 30,001 40,000 1,239 42,799,052 1.23% 40,001 50,000 642 28,808,004 0.83% 50,001 100,000 1,247 85,399,714 2.46% 100,001 200,000 583 77,794,871 2.24% 200,001 400,000 265 73,266,247 2.11% 400,001 600,000 91 44,661,573 1.29% 600,001 800,000 42 29,045,954 0.84% 800,001 1,000,000 28 25,135,498 0.72% 1,000,001 174 2,665,382,257 76.70% 125,709 3,474,940,656 100.00% 66

2011 Annual Report ( ) % 369,435,942 10.63 262,517,283 7.55 247,275,395 7.12 208,488,125 6.00 147,521,872 4.25 147,214,248 4.24 110,194,786 3.17 73,513,159 2.12 70,154,860 2.02 53,816,157 1.55 67

( ) 99 100 101 4 30 2 ( 1 31.80 31.50 21.90 16.30 13.75 15.10 22.98 22.91 18.55 21.06 17.61 16.44 18.21 17.61 3,377,843 ( ) 3,469,771( ) 3,473,474( ) ( / ) 4.94 / 4.49 -- 0.89 -- 0.94 1 1 5.12 22.98 4.35% 1 2 68

2011 Annual Report ( ) 1. 2. ( ) 100 101 3 16 101 ( ) 101 ( ) 1. 2. (1) (2) 3. (1) 101 3 16 100 69

100 (2) 0 0% (3) 4. 99 1 40,000,000 40,000,000 2 55,000,000 55,000,000 ( ) 70

2011 Annual Report ( ) 98 7 23 98 8 7 0% 0% 3 101 7 23 5 103 8 7 ( ) ( ) ( ) 100% 100% ( ) 98 8 24 101 7 13 86,595,082 101 4 30 193,140 98 9 8 103 7 28 33,058,139 71

101 4 26 1.28% 5 106 4 26 100% ( ) 72

2011 Annual Report ( ) 99 100 101 04 30 157 157 126.7 103.2 100.5 104 119.36 124.5 115.05 20.04 17.20 17.20 98 8 7 20.04 ( ) 99 100 101 04 30 424,061,830 424,061,830 424,061,830 424,061,830 30.31 29.71 28.87 28.87 107 110 111.3 101.1 100 100.3 98.55 99.2 103.48 104.83 102.13 99.52 98 7 23 30.31 73

( ) ( ) ( ) ( ) 74

2011 Annual Report 85 8 2 86 09 02 87 09 10 88 10 06 89 10 26 90 11 07 91 10 08 92 10 15 93 11 26 94 10 21 95 09 27 100 09 29 115,000,000 18.35 6,267,030 GDRS 2,085,856 GDRS 10 10 Citibank N.A. New York Citibank N.A. New York Citibank Taiwan Limited Citibank Taiwan Limited 395,911 GDRS 100 101 101 4 30 10.75 4.53 7.43 7.27 5.17 6.27 75

85 6 19 (85) ( ) 35410 85 8 2 6,267,030 62,670,300 18.35 ( 505 ) 115,000,000 2,085,856 101 4 30 8,352,886 83,528,934 395,911 3,959,184 ( ) 98.7.9 98.7.28 101.4.13 0980034141 0980034142 1010014526 2,500,000 2,500,000 3,000,000 2,500,000 3 2,500,000 5 3,000,000 5 98.7.22 98.8.6 101.4.25 ( ) 76

2011 Annual Report ( ) 100 98 1. (TPS) TPS 100 5,758 TEU 100 5,965 TEU 2. (AUE2) 100 6 1,150 TEU 11 (CSCL) (UASC) 1,039 TEU 3. (JAS) (MOL) 400TEU 100 4 450 TEU 4. (TP5) 100 5 TPS (Maersk Line) TP5 250 TEU / 1. (CES2) 100 5 CES2 11 101 5 2. (BAL3/NDS1/NDS2/IES4/RDX1) 4 BAL3 7 NDS1/NDS2 12 NDS2 IES4 RDX1 3. (ABS/BSF) 100 10 ABS ( ) BSF ( ) (Piraeus) 4. (MD2) 100 12 (Fos) (Port Said) (K Line) / 1. / (WSA) 100 5 / / 1,450 TEU 2. (MZX) 100 8 (MOL) 77

3. (AEF) 2 11 1 1,700 TEU X-PRESS / / 100 / / 1. (IS1/TMI) 100 1 IS1 ( ) 3 IS1 TMI 2. (TMN) 100 4 3. (KHP) 100 7 4. (KCS) 100 7 5. (IN4) 100 8 MCC Transport IN4 6. (HBH) / (PIS) 100 3 HBI ( / / ) 10 HBH PIS 7. / (CN1) 100 10 8. (APG) 100 10 (UX type) 9. / (SCH) 100 3 JTS ( / ) 11 SCH 10. / / (TCI) 100 11 / 11. / / (TMT)/ (ICS) 100 4 Interasia Lines TMT 11 (Hanjin) (NYK) ICS ( ) 12. / / (VMI) 100 12 VSS ( ) PIS ( ) 78

2011 Annual Report 1. / (HBS) 100 1 2. / (JVT) 100 2 3. / (CPT) 100 3 4. / (KTP) 100 4 5. (SPI) 100 9 ( ) 99 100 311 (IMF) 100 99 5.2% 3.9% 2% Alphaliner 100 2.8% 99 16.9% 0.8% Alphaliner 7.7% Alphaliner 98 5.6%( 70 TEU) 99 9.2%( 120 TEU) 100 7.9%( 113 TEU) TEU (Cascade Effect) 100 (Drewry) 100 52 70 TEU 100 63 8 TEU( 0.5%) 246 60 TEU( 4%) 99 581 151 TEU ( 11.6%) 79

Alphaliner 39% 101 8.5 TEU 101 20 TEU 10 TEU ( ) 99 7 20 L-Type 7 100 5 10 3 101 104 ( ) 1. 2. 3. 4. 1. 2. 3. 4. 5. 6. ( ) 1. (KPI) 99 100 ( ) ( ) 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

2011 Annual Report 2. ( ) ( ) 100 1 101 1 (TEU) (%) (TEU) (%) ( ) 605,227 4.1 612,230 3.8 312,962 2.3 340,533 2.1 125,060 0.9 169,232 1.1 50,073 0.5 73,774 0.5 Alphaliner 3. 99 100 100 100 1% 101 Piers 2.5% 100 6.7% 10% 101 101 Piers 101 4.2% 99 100 CTS 100 99 11.9% 5.1% 101 Alphaliner 1.5% 81

CTS 100 99 8.7% 101 Datamyne 100 99 8.1% Piers 11.9% 101 2% Piers 101 10.3% 100 Piers 100 1 8 99 10.7% 9 99 27% 6.4% 9 5.6% Piers 101 102-4.5% 6% 101 100 / 100 Colon / 101 101 100 30% 82

2011 Annual Report 78 9 10 101 101 103 105 (Mercosur) (SACU) 100 8 11 50% 101 100 99 101 IMF GDP 3%-3.2% 100 100 100 1 100 100 120 IRA 100 12% 101 / 100 100 6.75% 101 8% 83

Dynaliner 8 99 460 TEU 104 600 TEU 100 101 4. (1) 100 8 SEARS 2010 (2) 10 99 5 ( 94-98) (1) (ShipmentLink.com) 97 (2) 101 (3) 11 (1) (2) (3) 100 8 11 (Discovery Channel) 84

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

( ) ( ) ( ) ( ) 99 100 16,049,182 14,558,973 424,215 204,844 230,540 244,236 322,074 353,182 17,026,011 15,361,235 99 100 101 4 30 1,042 1,044 1,049 168 196 193 1,210 1,240 1,242 40.3 40.39 40.44 13.6 14.00 13.9 0.0% 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

2011 Annual Report ( ) 100 100 100 1. USD 180,775 2. (IMO) (Emission Control Area) USD 2,764,667 3. USD 5,837,000 4. (CARB) 24 Marine Gas Oil USD 4,290,000 ( ) 1. (CARB) 98 7 1 24 Marine Gas Oil 2. 3. 4. 5. 6. IOPPIAPP ISPP 7. (GARD Protection and Indemnity- GARD P&I) 8. (Vessel Certificate of Financial Responsibility COFR) 9. 0.1 % m/m 10. 10 0.2 % m/m 11. Cut-Out 12. 13. 100 11 24 0.1% 100 12 1 (1) 98 7 1 1.5% MGO 0.5% MDO 87

(2) 101 8 1 1.0% MGO 0.5% MDO (3) 103 1 1 0.1% MGO MDO 24 24 14. 101 1 1 MGO (Max 0.1%) 15. 101 8 1 200 1 16. LAX S-Type 5 AMP 17. 11 4 10 10 ( ) 1. 99/01/01 0.1 % m/m 2. 99/11/10 A 3. MARPOL VI 14 101 1 1 3.5 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. ( ) 2. 3. 4. 5. 6. 7. ( ) 8. 88

2011 Annual Report 9. 10. ( ) 1. 2. (1) (2) 3. 4. ( ) 5. 6. NT$10,000 7. TOEIC ( ) TOEIC ( ) TOEIC 8. 9. 1,441 15,249 404,418 89

4 71 2 91 2 65 3 86 L 2 10 L 1 19 (MCA) 3 23 2 39 1 106 2 45 3 75 2 92 3 53 3 47 EP ( ) 2 224 EP 1 117 CBT 1 48 1 199 1 16 2 22 2 11 5 15 IVODVG IMDG SEMINAR 1 5 IVODVG IMDG SEMINAR 3 2 52 1,481 ( ) 75 12 24 56846 ( ) 94 7 1 90

2011 Annual Report ( ) ( ) 1. 2. ( ) 1. 2. / 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. ( ) 1. 2. 3. 4. 5. 24 6. 95 2 5 91

( ) YANG MING 98.09.04 MARINE ( ) TRANSPORT CORP. 60 FUJIAN FOREIGN 97.03.01 TRADE CENTRE 98.02.28 ( ) SHIPPING CO. / 90 OOCL(ASIA 100.09.26 OOCL PACIFIC) LTD ( / 30 / ) BENGAL TIGER : 98.11.29 BTL LINE 99.05.28 ( / 100.05.31 / ) 30 NINGBO OCEAN 99.05.13 SHIPPING CO., 100.05.12 / LTD 90 CHINA UNITED 99.09.27 LINES LTD. 100.09.26 / 90 WAN HAI LINES 97.09.12 WHL LTD. 98.09.11 ( / / ) 90 WAN HAI LINES 99.07.03 WHL LTD. 100.01.02 ( / ) 100.02.02 90 92

2011 Annual Report 1. OOCL(ASIA 95.4.30 2 PACIFIC) LTD. 96.4.29 2. YANGMING ( / / (UK) LTD. 90 ) 1. WAN HAI LINES 95.4.30 2 LTD. 96.4.29 2. HAPAG-LLOYD ( / / / CONTAINER 90 ) LINE PENDULUM 93.8.21 PENEX EXPRESS LINES, 94.8.20 ( / / LTD, HONG KONG ) 90 WAN HAI LINES 98.02.22 WHL LTD. 98.08.23 ( / / ) 45 BENGAL TIGER 98.06.17 BTL LINE ( / 100.07.24 / 90 ) CHINA SHIPPING 99.03.12 CONTAINER LINES 99.09.13 ( / / 100.03.18 ) 60 CNC LINE (CMA 99.01.19 CNC CGM GROUP) 99.04.20 ( / / / 30 ) 1. OOCL(ASIA 99.08.20 2 PACIFIC) LTD. 100.02.19 2. SIMATECH ( SHIPPING PTE 60 ) LTD. 93

SIMATECH 100.01.06 SSF SHIPPING PTE LTD 100.06.05 ( ) 90 SIMATECH 98.10.17 SSF SHIPPING & 99.10.16 ( ) FORWARDING L.L.C. 90 SEA 97.12.15 SEACON CONSORTIUM 100.07.28 PTE LTD. ( ) 90 MCC TRANSPORT 91.10.15 MCC SINGAPORE 93.04.14 ( / / PTE LTD. / / 90 ) INTERASIA LINES 99.09.23 IAL SINGAPORE PTE 100.01.20 ( / 100.02.03 LTD. / ) MCC TRANSPORT 99.10.31 MCC SINGAPORE PTE 100.01.30 ( / / LTD. ) MCC TRANSPORT 99.10.31 MCC SINGAPORE PTE 100.01.30 ( / / LTD. ) MCC TRANSPORT 99.12.17 MCC SINGAPORE PTE ( / LTD. ) 90 COSCO 100.05.05 CONTAINER 100.08.04 ( 100.09.21 LINES COMPANY ) LIMITED 30 94

2011 Annual Report CNC LINE (CMA 100.10.13 CGM GROUP) 101.04.12 ( / ) 90 KAWASAKI KISEN 100.11.02 KLINE KAISHA, LTD. 101.05.01 ( / 60 ) WAN HAI LINES 100.11.08 LTD. 101.05.07 60 1. SIMATECH 100.08.01 SSFK LINE SHIPPING PTE 101.07.31 LTD ( ) 2. K LINE 90 COSCO 100.09.09 COSCON CONTAINER 101.03.08 ( ) LINES COMPANY LIMITED 90 1. NYK 100.10.29 NYK 2. Hanjin 101.04.12 Shipping ( 90 ) WAN HAI LINES 100.11.04 LTD. 101.05.03 ( ) 60 WAN HAI LINES 100.11.08 LTD. 101.05.07 ( ) 60 95

( ) CMA CGM S.A. 91.03.15 CMA CGM 92.03.31 ( / ) 90 COSCO 88.05.13 COSCON CONTAINER LINE ( / ) 90 COSCO 88.05.13 COSCON CONTAINER LINE ( / ) 90 MAERSK 96.12.01 97.11.30 ( / ) 90 1. HAMBURG SUD 97.10.30 4 2. HAPAG LLOYD 98.10.29 ( / 3. HYUNDAI ) MERCHANT 180 MARINE 4. APL CO. 100.09.30 1. KAWASAKI 100.09.01 4 KISAN KAISHA LTD 180 ( / ) 2. NIPPON YUSEN KAISHA 3. MITSUI O.S.K. LINES LTD. 4. OOCL 96

2011 Annual Report CHINA SHIPPING 98.06.17 CSC CONTAINER LINES 100.06.16 ( / ) 6 18 CHINA SHIPPING 99.01.01 CSC CONTAINER LINES 101.01.01 ( / ) 6 18 CKYH 98.09.21 CKYH 99.09.20 ( / ) 6 99.03.21 CSAV NORASIA 98.11.08 CSAV 99.05.07 ( / ) 30 100.10.01 MITSUI O.S.K. LINES 99.04.10 MOL LTD. 100.04.09 ( / ) 9 97

MITSUI O.S.K. LINES 99.04.10 MOL LTD. 100.04.09 ( / ) 9 CHINA SHIPPING 98.06.15 CSCL CONTAINER LINES 100.06.14 ( / ) 6 18 CHINA SHIPPING 98.06.15 CSCL CONTAINER LINES 100.06.14 ( / ) 6 18 1. COSCO 100.04.30 COSCON CONTAINER 101.04.30 WHLPIL LINE ( / ) 2. WAN HAI LINES 3 3. PACIFIC INTERNATIONAL 3 LINES NIPPON YUSEN 99.02.01 NYK KAISHA 99.07.30 ( / ) KAWASAKI KISAN 100.12.11 K Line KAISHA LTD 101.03.31 ( / ) 45 98

2011 Annual Report ( ) 100 99 98 97 96 101 3 31 ( ) 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 14,465 191,923 206,384 264,520 130,720 140,274 185,641 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 26,002,094-292,733 1,184,125 207,729 (776,363) 453,193 288,161 (2,656,053) (5,055,677) 640,363 895,498 2,074,210 (3,488,917) (1,229,959) (707,771) (483,688) (479,092) (469,755) (1,233,589) - - - - - - 61,165,826 65,823,520 54,451,597 63,246,176 69,697,680 57,090,251-62,665,976-63,246,176 64,414,627 - ( ) 101 99

( ) 100 99 98 97 96 101 3 31 ( ) 15,361,235 17,026,011 15,062,947 22,437,412 27,844,435 3,897,121 730,144 1,773,310 1,987,591 1,557,350 3,886,651 186,117 (775,318) 84,967 472,541 (361,147) 2,056,646 (164,314) 1,630,140 16,395,786 3,301,851 4,522,069 10,460,216 242,796 4,001,530 615,871 14,506,852 3,473,165 856,883 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) 0.21 3.53 (0.94) ( ) 101 ( ) 100 99 98 97 96 100

2011 Annual Report ( ) ( ) 100 99 98 97 96 101 3 31 ( ) 34.18 26.58 32.38 32.88 23.38 37.90 548.91 671.44 658.68 629.44 724.64 507.81 179.36 93.72 168.01 109.95 91.06 159.45 172.73 89.36 159.83 105.30 83.69 153.37 (8.22) 49.85 (39.32) 4.01 69.22 (29.69) 18.36 21.75 23.52 34.74 25.45 4.50 19 17 16 11 14 20 - - - - - - 8.38 11.68 9.55 10.70 9.48 1.50 - - - - - - 1.17 1.53 1.28 1.92 2.73 0.26 0.17 0.20 0.17 0.24 0.32 0.04 (3.08) 18.14 (11.05) 0.88 11.94 (3.43) (4.87) 25.22 (16.75) 0.96 16.35 (5.51) (2.23) 0.27 1.54 6.78 20.97 (0.47) (9.06) 50.77 (35.04) 38.43 56.08 (9.78) (20.13) 89.07 (65.43) 2.85 37.28 (83.62) (0.89) 4.49 (3.22) 0.21 3.53 (0.94) 25.99 45.28 (13.86) (11.00) 60.96 15.49 35.54 49.82 97.96 94.98 141.31 13.55 (1.19) 5.24 (1.09) (6.39) 7.20 1.66 (2.79) 37.47 7.84 (8.20) 2.44 (3.60) 0.69 (0.35) 2.29 0.61 1.09 0.60 20% 1. 2. 3. 4. ( ) 101 101

( ) ( ) 100 99 98 97 96 101 3 31 52.47 45.8 50.08 49.24 45.41 53.66 162.78 196.74 180.28 183.76 168.42 154.73 161.50 149.66 160.18 165.73 127.84 143.77 142.21 135.23 144.29 154.48 115.60 125.23 (7.22) 39.73 (31.21) 4.15 34.31 (24.22) 12.09 12.32 10.35 12.03 11.31 2.98 30 30 35 30 32 31 - - - - - - 21.98 23.07 25.83 14.13 13.97 5.19 - - - - - - 1.84 2.19 1.54 2.27 2.56 0.39 0.81 0.90 0.66 0.95 1.11 0.19 (2.49) 14.91 (9.62) 1.01 9.45 (2.73) (5.42) 27.94 (19.57) 1.42 17.62 (6.19) (14.73) 40.70 (40.08) 9.24 34.02 (8.31) (9.84) 60.02 (42.04) 4.81 44.28 (11.47) (3.40) 16.25 (14.90) 0.79 8.30 (15.02) (1.06) 5.26 (3.99) 0.33 4.08 (1.13) (2.18) 76.82 (72.57) 16.28 54.27 (2.82) 56.88 80.83 93.05 135.51 164.12 25.77 (2.44) 15.95 (10.03) (0.46) 13.10 (0.57) (0.48) 1.61 0.33 3.94 1.30 0.33 0.92 1.04 0.97 1.20 1.04 0.95 20% 1. 2. 3. 102

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

100 219 101 1 0 1 3 2 8 104

2011 Annual Report (101) 11004151 100 12 31 99 12 31 100 1 1 12 31 99 1 1 12 31 100 12 31 99 12 31 25,329,398 25,791,140 27.26% 28.77% 100 1 1 12 31 99 1 1 12 31 1,089,769 6,729,189 PricewaterhouseCoopers Taiwan 11012 333 27 / 27F, 333 Keelung Rd., Sec. 1, Taipei, Taiwan 11012 T: +886 (2) 2729 6666, F:+ 886 (2) 2757 6371, www.pwc.com/tw 105

100 12 31 99 12 31 100 1 1 12 31 99 1 1 12 31 100 99 0960038033 1 0 1 3 2 7 106

2011 Annual Report 100 99 12 31 1001231 991231 1001231 991231 % % % % 1100 (()) $ 5,670,482 6 $ 3,481,722 4 2100 (()) $ - - $ 2,603,172 3 1310 2180 (()) 2,230,854 3 1,908,928 2 (()) 5,163-604,407 1 1330 (()) 800,000 1 - - 2140 1,640,666 2 1,321,797 2 1120 1,328-7 - 2150 () 396,652-133,716-1140 (()) 686,843 1 748,582 1 2160 (()) 29,698 - - - 1150 (()) 131,006-106,501-2170 719,424 1 354,071-1160 580,518 1 439,702 1 2210 21,096-130,522-1180 () 148,853-74,224-2260 999-2,568-1190 (()) - - 158,383-2270 1230 342,769-303,885 - (()) 4,459,233 5 4,891,791 5 1250 154,581-152,956-2280 () 340,452-594,584 1 1260 7,689-7,724-21XX 7,613,383 8 10,636,628 12 1286 (()) 254,120-315,710 1 1291 () 121,790-275,751-2410 (()) - - 2,218,775 3 1298 (()) 2,524,806 3 1,994,910 2 2420 (()) 21,209,534 23 8,238,580 9 11XX 13,655,639 15 9,968,985 11 24XX 21,209,534 23 10,457,355 12 1430 2810 (()) 1,331,985 2 968,065 1 (()) 62,959-104,287-2820 48-48 - 1450 (()) 602,904 1 957,108 1 2861 (()) 1,273,685 1 1,446,499 2 1460 (()) 370,000-1,170,000 1 2881 327,929-324,289-1480 (()) 1,344,119 2 1,344,595 2 28XX 2,933,647 3 2,738,901 3 1421 (()) 61,672,912 66 64,527,886 72 2XXX 31,756,564 34 23,832,884 27 1428 312-312 - 14XX 64,053,206 69 68,104,188 76 (()) (()) 3110 34,734,581 37 31,248,395 35 1501 1,972,540 2 1,972,540 2 (()) 1521 1,360,388 1 1,512,002 2 3210 5,805,861 6 5,456,524 6 1532 4,261,946 5 4,530,476 5 3250 372-371 - 1544 120,766-114,390-3260 1,606,562 2 1,611,003 2 1551 12,076,977 13 11,346,789 13 3272 60,884-128,379-1552 3,596,904 4 2,110,916 2 3280 6,713-6,713-1561 203,662-209,750 - (()) 15XY 23,593,183 25 21,796,863 24 3310 9,102,785 10 7,586,240 9 15X9 ( 13,504,192) ( 14) ( 12,912,384) ( 14) 3320 4,579,324 5 957,344 1 1670 4,918,166 5 2,476,296 3 3350 8,862,023 10 23,407,874 26 15XX 15,007,157 16 11,360,775 13 3420 ( 2,656,053) ( 3) ( 5,055,677) ( 6) 1770 (()) 14,465-16,072-3430 ( 1,229,959) ( 1) ( 707,771) ( 1) 3450 292,733-1,184,125 1 1820 46,037-42,416-3XXX 61,165,826 66 65,823,520 73 1830 145,886-163,968 - () 18XX 191,923-206,384 - () 1XXX $ 92,922,390 100 $ 89,656,404 100 1XXX $ 92,922,390 100 $ 89,656,404 100 101 3 27 107

100 99 1 1 12 31 ( ( ) ) 100 99 % % 4000 (()) $ 15,361,235 100 $ 17,026,011 100 5000 (()) ( 14,631,091) ( 95) ( 15,252,701) ( 89) 5910 730,144 5 1,773,310 11 6200 (()) ( 1,505,462) ( 10) ( 1,688,343) ( 10) 6900 () ( 775,318) ( 5) 84,967 1 7110 37,721-35,187-7121 (()) - - 14,595,055 86 7122 59,605-83,689-7130 () 959,039 6 1,070,210 6 7140 61,589 1 14,162-7160 27,049 - - - 7210 () 99,340 1 98,028 1 7320 (()) 236,346 2 407,458 2 7480 (()) 149,451 1 91,997 1 7100 1,630,140 11 16,395,786 96 7510 ( 341,288) ( 2) ( 324,799) ( 2) 7521 (()) ( 3,595,320) ( 24) - - 7530 ( 7,919) - ( 2,426) - 7560 - - ( 194,214) ( 1) 7580 ( 17,207) - ( 18,509) - 7640 (()) ( 33,383) - ( 72,835) ( 1) 7880 ( 6,413) - ( 3,088) - 7500 ( 4,001,530) ( 26) ( 615,871) ( 4) 7900 () ( 3,146,708) ( 20) 15,864,882 93 8110 ()(()) 54,347 - ( 699,431) ( 4) 9600 () ($ 3,092,361) ( 20) $ 15,165,451 89 ()(()) 9750 () ($ 0.91) ($ 0.89) $ 4.70 $ 4.49 ()(()) 9850 () ($ 0.91) ($ 0.89) $ 4.54 $ 4.34 101 3 27 108

2011 Annual Report 100 99 1 1 12 31 99 9911 $ 30,625,992 $ 6,675,194 $ 7,586,240 $ 957,344 $ 8,242,423 $ 640,363 ($ 483,688) $ 207,729 $ 54,451,597 622,403 655,621 - - - - - - 1,278,024 - (127,826) - - - - - - ( 127,826) - 1 - - - ( 1,075,152 ) ( 68,319) 711,600 ( 431,870) - - - - - ( 4,620,888 ) - - ( 4,620,888) - - - - - - ( 155,764) - ( 155,764) - - - - - - - 264,796 264,796 99 - - - - 15,165,451 - - - 15,165,451 991231 $ 31,248,395 $ 7,202,990 $ 7,586,240 $ 957,344 $ 23,407,874 ($ 5,055,677) ($ 707,771) $ 1,184,125 $ 65,823,520 100 10011 $ 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) - - - - - - - 3,621,980 (3,621,980) - - - - 3,157,544 - - - (3,157,544) - - - - - - - - (3,157,544) - - - ( 3,157,544) 328,642 349,337 - - - - - - 677,979 - ( 67,494) - - - - - - ( 67,494) - ( 4,441) - - 123 318,021 ( 212,794) ( 539,536) ( 438,627) - - - - - 2,081,603 - - 2,081,603 - - - - - - ( 309,394) - ( 309,394) - - - - - - - ( 351,856) ( 351,856) 100 - - - - ( 3,092,361) - - - ( 3,092,361) 1001231 $ 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$40,000 101327 109

100 99 1 1 12 31 100 99 () ( $ 3,092,361) $ 15,165,451 1,559,320 1,616,004 13,555 23,399 248,744 276,743 43,029 54,195 ( 951,120) ( 1,067,784) () 4,500,822 ( 14,361,424) ( 61,631) ( 6,828) 190,021 210,914 ( 42,500) - ( 535,113) 1,346,892 35,913 ( 144,684) ( 215,445) 525,667 158,383 80,525 ( 38,884) 74,002 ( 1,590) 28,497 153,961 ( 28,877) ( 239,951) 338,758 ( 533,395) ( 506,630) ( 1,154) 47,529 ( 3,621) 117 581,805 315,243 29,698-365,353 ( 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) - 460,000-44,849-62,107 196,674 ( 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 $ 1,247,300 101 3 27 110

2011 Annual Report 100 99 12 31 / ( ) 57 9 25 71 11 2 76 7 6 9 21 100 12 31 1,230 ( ) ( ) 1. 2. 3. ( ) 1. (1) (2) 111

(3) (4) 2. (1) (2) (3) (4) ( ) 1. 2. ( ) 1. 2. / 3. 4. ( ) 5. (1) (2) (3) ( ) 1. 2. / 3. 112

2011 Annual Report ( ) 1. 2. 3. ( ) 1. 2. ( ) 1. 2. ( ) ( ) 1. 20 95 ( ) 94 12 31 2. 113

( ) 1. 2. 3. ( ) 3 ( ) ( ) 1. 95 1 1 (1) (2) (3) (4) 2. 114

2011 Annual Report ( ) 15 ( ) 1. ( ) 2. 3. 10% ( ) 97 1 1 96 3 16 (96) 052 97 3 31 (97) 127 ( ) ( ) ( ) 1. 2. 115

( ) 1. 2. ( ) 100 1 1 ( ) 100 ( ) 100 1 1 100 99 ( ) ( ) ( ) 100 12 31 99 12 31 $ 5,639 $ 4,569 1,017,505 509,567 760,072 925,411 204,937 219,534 3,065,000 981,521 314,517 882,431 299,664 - ( ) ( ) 3,148 ( 41,311 ) $ 5,670,482 $ 3,481,722 116

2011 Annual Report ( ) 100 12 31 99 12 31 $ 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 $ 104,287 100 99 $33,383 $72,835 ( ) 100 12 31 99 12 31 ( ) $ 490,801 $ 490,801 ( ) 1,523 3,871 492,324 494,672 110,580 462,436 $ 602,904 $ 957,108 ( ) 100 12 31 99 12 31 $ 800,000 $ - $ 370,000 $ 1,170,000 ( ) 100 12 31 99 12 31 $ 1,344,119 $ 1,344,595 117

1. ( : ( ) 99 12 17 ) 100 6 98.44% $10 $62,107 $476 $61,631-2. ( ) 100 12 31 99 12 31 $ 686,108 $ 772,043 ( ): ( ) ( 735 ) ( 23,461 ) 686,843 748,582 131,006 106,501 $ 817,849 $ 855,083 ( ) - 100 12 31 99 12 31 $ - $ 158,383 ( ) - 100 12 31 99 12 31 $ 446,048 $ 359,587 2,028,261 1,585,980 50,497 49,343 $ 2,524,806 $ 1,994,910 1. 2. 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

2011 Annual Report ( ) 1. 100 12 31 100 12 31 99 12 31 Peony Investment S.A. 100.00% $ 44,769,469 $ 46,686,907 ( ) Everport Terminal Services Inc. 100.00% 3,028 - ( ) 55.00% 87,777 94,813 ( ) 40.00% 609,794 575,326 ( ) 39.74% 7,991,293 8,418,428 ( ) 31.25% 89,111 77,345 ( ) 19.32% 7,315,432 7,848,925 ( ) 21.03% 807,008 826,142 $ 61,672,912 $ 64,527,886 2. 100 99 ( ) 100 99 Peony Investment S.A. ($ 3,998,886 ) $ 11,773,770 ( ) Everport Terminal Services Inc. - - ( ) 4,767 6,529 ( ) 59,868 56,468 ( ) 305,923 471,099 ( ) 11,766 3,425 ( ) 40,375 2,321,099 ( ) ( 19,133 ) ( 37,335 ) ($ 3,595,320 ) $ 14,595,055 3. 98 7 23 ( ( ) ) 10 ( ) - ( ) 86,595 4. 99 12 24 Everport Terminal Services Inc. 100 5 100 12 31 USD100 1 100% 119

( ) 100 12 31 $ 1,972,540 $ - $ 1,972,540 1,360,388 ( 511,419) 848,969 4,261,946 ( 3,813,161) 448,785 120,766 ( 93,263) 27,503 12,076,977 ( 6,887,305) 5,189,672 3,596,904 ( 2,023,869) 1,573,035 203,662 ( 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) $ 15,007,157 99 12 31 $ 1,972,540 $ - $ 1,972,540 1,512,002 ( 500,059) 1,011,943 4,530,476 ( 3,838,906) 691,570 114,390 ( 98,203) 16,187 11,346,789 ( 6,569,182) 4,777,607 2,110,916 ( 1,730,638) 380,278 209,750 ( 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 ) $ 11,360,775 1. 100 99 12 31 USD109,620 USD48,000 GARD P&I (PROTECTION & INDEMNITY) 100 99 USD8,000,000 USD5,000,000 2. 100 99 12 31 $1,135,682 $1,416,287 100 99 12 31 $742,135 $768,519 100 99 12 31 USD255,161 USD243,516 3. 100 $45,572 120

2011 Annual Report ( ) 100 12 31 99 12 31 $ - $ 2,602,020-1,152 $ - $ 2,603,172 ( ) 100 12 31 99 12 31 $ - $ 72,338-271,141 5,163 260,928 $ 5,163 $ 604,407 1. 100 99 $236,346 $407,458 2. ( ) 100 12 31 99 12 31 $ 2,955,661 $ 1,156,100 1,503,572 3,735,691 $ 4,459,233 $ 4,891,791 ( ) 100 12 31 99 12 31 $ 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 ) $ - $ 2,218,775 1. 98 7 23 ( ) $2,500,000 (1) 3 98 7 23 101 7 23 (2) 0% 121

(3) (4) a. ( ) b. ( ) ( ) 14 c. ( ) (5) ( ) (6) a. 1 40 30 30%( ) 30 b. 1 40 10% c. (7) a. 1 10 3 ( ) b. 98 7 15 1 3 5 101%~110% 122

2011 Annual Report 30.31 28.87 (8) 1 1 3 ( ) 3 ( ) ( ) 12 31 ( ) (9) 100 12 31 2. 98 8 7 ( ) $2,500,000 (1) 5 98 8 7 103 8 7 (2) 0% (3) (4) (5) a. 1 40 30 30%( ) 30 b. 1 40 $250,000( 10%) c. (6) 2 3 30 123

2 3 ( 2 101.00% 0.5% 3 101.51% 0.5%) (7) a. 1 10 3 ( ) b. 98 7 30 1 3 5 101.00% 20.04 17.20 (8) 1 1 3 ( ) 3 ( ) ( ) 12 31 ( ) (9) 100 12 31 $1,905,900 - $1,004,958 - $195,320 3. 98 8 7 - $256,205 124

2011 Annual Report ( ) 100 12 31 99 12 31 $ 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 ( ) 1. 94 7 1 6 15 ( ) 15 45 15% 125

2. (1) 100 12 31 99 12 31 2.00% 2.25% 2.00% 2.00% 2.00% 2.00% (2) 100 12 31 99 12 31 ($ 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 ) 371,252 391,849 ( 1,541,455 ) ( 1,275,931 ) - - 14,465 16,073 1,118,765 907,767 ( 923,760 ) ( 615,974 ) ($ 1,331,985 ) ($ 968,065 ) (3) 100 99 $ 20,797 $ 30,517 37,168 30,538 ( 9,949 ) ( 10,765 ) - 20,076 1,607 1,607 56,999 33,401 $ 106,622 $ 105,374 126

2011 Annual Report 3. 94 7 1 6% 4. 100 99 $132,760 $134,634 ( ) 1. 100 12 31 $36,000,000 $34,734,581 3,473,458 10 2. 100 99 100 99 ( ) ( ) 32,864 $ 328,642 62,240 $ 622,403 ( ) 1. 2. - ( ) ( ) 1. 10% 0.5% 5% 10% 2. 25% 3. ( ) 127

4. 100 6 24 99 6 18 99 98 99 98 ( ) ( ) $ 1,516,545 $ - 3,621,980-3,157,544 $ 1.0 - $ - 3,157,544 1.0 - - 99 100 3 22 5. 101 3 16 100 101 3 27 6. 100 99 $40,000 $55,000 99 7. ( ) 100 99 $ 14,558,973 $ 16,049,182 204,844 424,215 244,236 230,540 353,182 322,074 $ 15,361,235 $ 17,026,011 ( ) 100 99 ( ) ($ 54,347 ) $ 699,431 ( ) ( 3,985 ) ( 2,303 ) - ( 101 ) ( 23,194 ) - 111,224 ( 699,330 ) ( ) $ 29,698 ($ 2,303 ) 128

2011 Annual Report 1. 100 99 12 31 ( ) : 100 12 31 99 12 31 - $ 254,120 $ 315,710-69,952 60,029 - - - - ( 1,343,637 ) ( 1,506,528 ) - - ($ 1,019,565 ) ($ 1,130,789 ) 2. ( ) : 100 12 31 99 12 31 $ 1,937 $ 329 $ 1,766 $ 300 28,843 4,903 44,300 7,531 131,424 22,342 131,424 22,342 - - 337,501 57,375 - - 2,874 489 383 65 - - 1,186,162 201,648 1,222,605 207,843-24,833-19,830 $ 254,120 $ 315,710 $ - $ - $ 1,020 $ 173 408,225 69,398 352,091 59,856 ( 7,903,745 ) ( 1,343,637 ) ( 8,861,931 ) ( 1,506,528) 3,258 554 - - ($ 1,273,685 ) ($1,446,499) 3. 100 12 31 $36,000 $24,833 104 129

4. 100 12 31 98 $ 2,456,334 $ 417,577 $ 201,648 108 5. 98 6. 100 12 31 99 12 31 86 $ 5,570,596 $ 5,570,596 87 3,291,427 17,837,278 $ 8,862,023 $ 23,407,874 7. 100 99 12 31 $1,013,143 $2,509,271 100 30.78% 99 14.97% ( ) ( ) 100 ( ) ( ) ($ 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 ) 100 130

2011 Annual Report 99 ( ) ( ) $ 15,864,882 $ 15,165,451 3,377,843 $ 4.70 $ 4.49 47,693 47,693 128,225 - - 1,652 $ 15,912,575 $ 15,213,144 3,507,720 $ 4.54 $ 4.34 99 99 ( ) : 100 $ 293,980 $ 773,142 $ 1,067,122 17,024 57,711 74,735 26,033 106,727 132,760 17,030 25,293 42,323 1,520,794 38,526 1,559,320 248,744 13,555 262,299 99 $ 269,234 $ 943,984 $ 1,213,218 13,322 56,339 69,661 10,829 123,805 134,634 18,789 23,997 42,786 1,575,148 40,856 1,616,004 276,743 23,399 300,142 131

( ) (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) ( 100 4 ) 132

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) ( 100 3 ) ( 100 12 ) Luanta Balsam Island SGTC 133

( ) 1. 100 99 (%) (%) $ 1,900,307 12 $ 1,824,329 11 91,125 1 94,864 1 GMS 87,171 1 414,213 3 EIS 59,764 1 53,921 - 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 - $ 2,325,241 15 $ 2,532,676 15 2. 100 99 (%) (%) $ 684,593 4 $ 672,076 4 551,703 3 776,310 5 360,052 2 339,241 2 77,080 1 56,697-45,174 1 46,718 - GESA 1,552,673 10 1,660,616 10 GMS 41,749 1 242,542 2 EGH 33,555-47,689 - EMS 32,821 - - - 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 - $ 3,489,396 22 $ 3,959,776 23 134

2011 Annual Report 3. (1) 100 99 $ 3,351 $ 274-502,254 - " - 492,993 - " - 470,324 - EHIC(M) - 1,690,051 - $ 3,158,973 $ 274 (2) 100 99 $ 1,626 $ - $ - $ - 32 32 - - " 9,666 9,644 - - " 163 21 - - - - - 88 82 $ 11,487 $ 9,697 $ 88 $ 82 4. (1) ( ) 100 99 (%) (%) $ 95,040 96 $ 94,708 97 " 1,056 1 1,122 1 1,595 2 497 1 96-92 - 218-208 - $ 98,005 99 $ 96,627 99 135

(2) ( ) 100 99 (%) (%) $ 43,456 99 $ 43,047 99 53 1 221 1 $ 43,509 100 $ 43,268 100 (3) ( ) 100 99 (%) (%) $ 369,925 14 $ 603,087 19 GESA 1,552,673 61 1,660,616 53 GMS 41,749 2 242,542 8 EMS 32,821 1 - - ITS 3,499 - - - $ 2,000,667 78 $ 2,506,245 80 5. ( ) 100 12 31 99 12 31 (%) (%) $ 71,856 9 $ 61,904 7 22,889 3 22,062 2 ITS 12,117 1 1,362-24,144 3 21,173 3 $ 131,006 16 $ 106,501 12 136

2011 Annual Report 100 12 31 99 12 31 (%) (%) $ 71,416 10 $ 62,237 12 EIS 70,679 9 1,041-6,758 1 10,946 2 $ 148,853 20 $ 74,224 14 100 12 31 99 12 31 (%) (%) $ 38,695 2 $ 50,949 4 22,761 1 34,509 2 10,728-12,208 1 GMS 135,838 7 25,280 2 ITS 179,590 9 - - 9,040-10,770 - $ 396,652 19 $ 133,716 9 ( ) 100 12 31 99 12 31 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 2,500 137

( ) 1. 85 7 2. 91 100 99 12 31 $71,856 $61,904 3. $940 $1,614 4. 100 99 12 31 100 12 31 99 12 31 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 $ 41,431 138

2011 Annual Report 5. ( ) 100 99 12 31 (1) 100 12 31 99 12 31 EGI $ 76,227 $ 1,932 EMI 21,245 15,352 EIT 12,822 4,381 EGT 9,660 10,877 EGD 2,421 - ESA 1,379 469 EGS 951 - EGK 768 - EGUD 459 - EGD-WWX 69 755 EES - 279 $ 126,001 $ 34,045 (2) 100 12 31 99 12 31 $ 16,486 $ 2,063 EGN 83,252 75,829 EGV 3,722 22,565 ERU 1,133 - UAE 145 - EMA 64 115 EGF 38 7 EES 10 - EGD - 1,721 EGK - 295 EGUD - 256 EGS - 98 $ 104,850 $ 102,949 139

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. ( ) 100 99 12 31 (1) 100 12 31 99 12 31 GMS $ 855,421 $ 623,468 EIS 794,255 650,832 ITS 282,757 283,771 EMU 43,492 - EMS 31,483 - GESA 20,853 27,909 $ 2,028,261 $ 1,585,980 (2) 100 12 31 99 12 31 EGH $ 96,977 $ 102,294 EMS - 83,047 EMU - 2,750 $ 96,977 $ 188,091 7. 100 99 ( ) 100 99 $ 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 $ 320,135 140

2011 Annual Report ( ) 100 99 $ 32,868 $ 39,742 2,606 2,521-56,012 $ 35,474 $ 98,275 1. 2. 3. ( ) 99 $50,000 100 99 12 31 100 12 31 99 12 31 $ 121,790 $ 275,751 1,800,093 1,800,093 813,889 839,659 ( ) 1,631,851 1,670,471 $ 4,367,623 $ 4,585,974 1. 100 12 31 USD5,000 2. 3. 85 6 19 (85) ( ) 35410 85 8 2 141

USD115,000 5,449,592 54,495,920 50.50 817,438 6,267,030 62,670,300 50.50 USD115,000 86 100 12 31 2,085,856 20,858,634 100 12 31 7,975,440 377,446 3,774,534 4. 100 12 31 $39,361,699 $16,642,398 5. 100 12 31 1 USD 59,841 1~2 41,927 USD 101,768 6. 100 12 31 $19,252,067 7. 99 7 2 99 9 28 Samsung Heavy Industries Co., Ltd. 13 USD1,339,000 99 10 29 100 6 3 9 Greencompass Marine S.A. Evergreen Marine (UK) Ltd. 100 12 31 USD412,000 USD267,800 8. 100 5 20 3 100 12 31 USD309,000 USD293,550 1. 101 3 16 ( ) 2. 101 3 16 12 $3,000,000 $1,000 5 2% 142

2011 Annual Report ( ) 99 100 ( ) 100 12 31 $ 5,670,482 $ - $ 5,670,482 1,548,548-1,548,548 10,003 10,003-2,220,851 2,220,851-62,959-62,959-800,000-800,000 121,790-121,790 602,904 602,904 - - 370,000-370,000 1,344,119 - - 46,037-46,037 2,777,838-2,777,838 ( ) 2,955,661-2,955,661 ( ) 22,713,106-22,713,106 48-48 5,163-5,163 143

99 12 31 $ 3,481,722 $ - $ 3,481,722 1,369,016-1,369,016 334 334-1,908,594 1,908,594-104,287-104,287 158,383-158,383 275,751-275,751 957,108 957,108 - - 1,170,000-1,170,000 1,344,595 - - 42,416-42,416 2,603,172-2,603,172 1,940,106-1,940,106 ( ) 3,374,875-3,374,875 ( ) 11,974,271-11,974,271 48-48 72,338-72,338 271,141-271,141 260,928-260,928 144

2011 Annual Report 1. ( ) ( ) 2. 3. 4. 5. 6. 7. ( ) 1. 100 99 $33,688 $31,442 $341,288 $324,799 2. 100 99 $387,812 $264,796 $35,957 $0 ( ) 100 99 12 31 $964,377 $1,139,897 $19,719,302 $11,983,905 145

( ) 100 12 31 1. 1 1 2 2 3 3 $ 3,682,926 $ - $ - $ - $ 3,682,926 ( 200,000 ) ( 200,000 ) ( 200,000 ) ( 2,400,000 ) ( 3,000,000 ) 2. 1 1 2 2 3 3 $ 964,377 $ - $ - $ - $ 964,377 ( 1,303,572 ) ( 4,023,632 ) ( 5,476,812 ) ( 8,915,286 ) ( 19,719,302 ) 146

2011 Annual Report 100 12 31 99 12 31 58,670 30.2765 66,396 29.183 11,321 30.2765 10,413 29.183 1,484,110 30.2765 1,599,628 29.183 141,710 30.2765 76,802 29.183 147

100 12 31 $ 2,230,854 $ 2,230,854 62,959 62,959 1,170,000 1,170,000 602,904 602,904 1,344,119 1,344,119 99 12 31 $ 1,908,928 $ 1,908,928 104,287 104,287 1,170,000 1,170,000 957,108 957,108 1,344,595 1,344,595 148

100 12 31 99 12 31 100 1 1 12 31 99 1 1 12 31 100 99 0960038033 1 0 1 3 2 7 106

2011 Annual Report 100 99 12 31 / ( ) 57 9 25 71 11 2 76 7 6 9 21 100 12 31 1,230 ( ) ( ) 1. 2. 3. ( ) 1. (1) (2) 111

(3) (4) 2. (1) (2) (3) (4) ( ) 1. 2. ( ) 1. 2. / 3. 4. ( ) 5. (1) (2) (3) ( ) 1. 2. / 3. 112

2011 Annual Report ( ) 1. 2. 3. ( ) 1. 2. ( ) 1. 2. ( ) ( ) 1. 20 95 ( ) 94 12 31 2. 113

( ) 1. 2. 3. ( ) 3 ( ) ( ) 1. 95 1 1 (1) (2) (3) (4) 2. 114

2011 Annual Report ( ) 15 ( ) 1. ( ) 2. 3. 10% ( ) 97 1 1 96 3 16 (96) 052 97 3 31 (97) 127 ( ) ( ) ( ) 1. 2. 115

(3) (4) a. ( ) b. ( ) ( ) 14 c. ( ) (5) ( ) (6) a. 1 40 30 30%( ) 30 b. 1 40 10% c. (7) a. 1 10 3 ( ) b. 98 7 15 1 3 5 101%~110% 122

2 3 ( 2 101.00% 0.5% 3 101.51% 0.5%) (7) a. 1 10 3 ( ) b. 98 7 30 1 3 5 101.00% 20.04 17.20 (8) 1 1 3 ( ) 3 ( ) ( ) 12 31 ( ) (9) 100 12 31 $1,905,900 - $1,004,958 - $195,320 3. 98 8 7 - $256,205 124

2011 Annual Report 1. ( ) ( ) 2. 3. 4. 5. 6. 7. ( ) 1. 100 99 $33,688 $31,442 $341,288 $324,799 2. 100 99 $387,812 $264,796 $35,957 $0 ( ) 100 99 12 31 $964,377 $1,139,897 $19,719,302 $11,983,905 145

2011 Annual Report 100 12 31 99 12 31 58,670 30.2765 66,396 29.183 11,321 30.2765 10,413 29.183 1,484,110 30.2765 1,599,628 29.183 141,710 30.2765 76,802 29.183 147

2011 Annual Report ( ) 1. 2. ( 1) ( 2) (%) ( 34) 0 Greencompass Marine S.A. 3 $ 130,701,004 $ 27,728,344 $ 27,728,344 $ - 42.43% $ 163,376,255 (USD 915,837 ) (USD 915,837 ) 0 Peony Investment S.A. 2 130,701,004 451,178 448,093-0.69% (USD 14,800 ) (USD 14,800 ) 0 Evergreen Marine (UK) Ltd. 3 130,701,004 52,403,055 52,403,055-80.19% (USD 1,730,816 ) (USD 1,730,816 ) 0 Taranto Container Terminal S.p.A. 6 32,675,251 620,633 613,099-0.94% (USD 20,792 ) (USD 20,250 ) 0 Whitney Equipment LLC. 3 130,701,004 2,870,590 2,850,956-4.36% (USD 94,164 ) (USD 94,164 ) 0 Hemlock Equipment LLC. 3 130,701,004 1,762,338 1,750,284-2.68% (USD 57,810 ) (USD 57,810 ) 0 Colon Container Terminal S.A. 6 32,675,251 292,656 290,654-0.44% (USD 9,600 ) (USD 9,600 ) 0 Balsam Investment (Netherlands) N.V. 6 32,675,251 1,493,765 1,483,549-2.27% (USD 49,000 ) (USD 49,000 ) 0 Evevgreen Agency (South Africa) (PTY) Ltd. 3 130,701,004 117,854 - - 0.00% (USD 4,000 ) (USD- ) 1 1. 0 2. 1 2 1. 2. 3. 4. 5. 6. 3 4 250% 65,350,502 x 250% 163,376,255 149

3. (%) 4,765 $ 44,769,469 100.00 $ 44,930,636 5,500 87,777 55.00 87,777 Everport Terminal Services Inc. 1 3,028 100.00 3,028 47,204 609,794 40.00 609,794 424,062 7,991,293 39.74 6,000,482 12/31 5,280 89,111 31.25 89,111 629,483 7,315,432 19.32 12,086,078 12/31 88,344 807,008 21.03 805,459-1,290 12,898 5.68 6,908 99-4.93 4,735 126,735 1,250,000 1.95 631,140 7,000 43,749 17.50 86,869 Linden Technologies,Inc. 50 15,372 2.53 - Toplogis,Inc. 2,464 22,100 17.48 18,195-46,561 582,008 8.45 582,008 12/31 652 20,896 0.01 20,896 12/31-22 193-193 12/31 600 9,810 0.01 9,810 12/31 150

2011 Annual Report (%) - 37,185 $ 563,121 - $ 563,121 4,609 60,408-60,408 26,155 411,411-411,411 4,318 743,039-743,039 8,944 130,642-130,642 25,879 312,230-312,230 - - 800,000-800,000 - - 62,959-62,959 - - 220,000-220,000 98 1 (B ) - 100,000-100,000 99 1-50,000-50,000 151

4. - 33,882 $ 510,005 102,760 $ 1,550,000 99,457 $ 1,500,187 $1,498,883 $ 1,304 37,185 $ 561,122 10,015 120,000 111,519 1,340,000 95,655 1,150,086 1,148,871 1,215 25,879 311,129 - - 7,531 1,290,000 3,213 550,005 549,754 251 4,318 740,246 - - 8,944 130,000 - - - - 8,944 130,000 5,754 90,000 28,705 450,000 8,304 130,000 129,945 55 26,155 410,055 12,987 180,021 32,443 450,000 45,430 630,231 630,021 210 - - 42,137 510,011 56,126 680,000 98,263 1,191,190 1,190,011 1,179-0 1699 18,548 240,000 - - 18,548 240,098 240,000 98 - - 152

2011 Annual Report 5. 6. ( ) 2011/5/31 2005/11/30 $ 135,264 $ 300,366 ( ) $ 165,102 153

7. ( ) ( ) ( ) ( ) ( ) $ 551,703 3% 30~60 $ - - ($ 10,728) 1% 360,052 2% 30~60 - - ( 22,761) 1% 1,900,307 12% 30~60 - - 71,856 9% 684,593 4% 30~60 - - ( 38,695) 2% Gaining Enterprise S.A. 1,552,673 10% 30~60 - - - - 154

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

( ) 1. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 476,500 USD 476,500 4,765 100.00 $ 44,769,469 ($ 3,832,744 ) ($ 3,998,886 ) ( ) 177 2 55,000 55,000 5,500 55.00 87,777 8,667 4,767 Everport Terminal Services Inc. 1209 Orange Street in the city of Wilmington, Country of New Castle USD 100 USD - 1 100.00 3,028 - - ( ) 369 2 320,000 320,000 47,204 40.00 609,794 149,671 59,868 ( ) 899 4,753,514 4,753,514 424,062 39.74 7,991,293 813,397 305,923 ( ) 111 45 25,000 25,000 5,280 31.25 89,111 37,652 11,766 ( ) 1 376 11 10,767,879 10,767,879 629,483 19.32 7,315,432 209,027 40,375 ( ) 7 25 883,731 883,731 88,344 21.03 807,008 ( 90,963 ) ( 19,133 ) Clove Holding Ltd. Craigmuir Chambers, P. O. Box71, Road Town, Tortola, B.V.I. USD 52,549 USD 52,549 10 100.00 USD 64,025 USD 52,349 USD 52,349 Evergreen Shipping Agency (Deutschland) GmbH Evergreen Building Amsinckstrasse 55 20097 Hamburg,Germany USD 8,316 USD 8,316-100.00 USD 8,909 USD 373 USD 373 Evergreen Shipping Agency (Ireland) Ltd. 22 Fiztwilliam Place, Dublin 2, Ireland USD 95 USD 95 0.1 100.00 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 2,426 121 100.00 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 19 3089 JH Rotterdam, The Netherlands UL. SOLEC 22, 00-410 WARSZAWA, POLAND Greencompass Marine S. A. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 3,977 USD 3,977 0.047 100.00 USD 4,966 USD 278 USD 278 USD 662 USD 662 2 100.00 USD 551 USD 32 USD 32 USD 353,500 USD 353,500 3,535 100.00 USD 880,387 (USD 100,623 ) (USD 100,623 ) 156

2011 Annual Report Vigor Enterprise S.A. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 500 USD 500 5 100.00 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 400 013, IN- DIA USD 184 USD 184 100 99.99 USD 2,859 USD 1,015 USD 1,015 Evergreen Argentina S.A. Pje. Carabelas 344, (C1009AAD), Buenos Aires. Argentina USD 140 USD 140 150 95.00 USD 64 (USD 190 ) (USD 180 ) Evergreen Shipping Agency France S.A.S. Tour Franklin-La Defense 8, 92042 PARIS LA DEFENSE CEDEX-FRANCE. USD 907 USD 907 5 100.00 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 20,204 68 95.03 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 804 2 17.39 USD 393 USD 918 USD 160 Evergreen Heavy Industrial Corp.(Malaysia) Berhad Lot 139, Jalan, Cecair, Phase 2 Free Trade Zone Johor Port Authority, 81700 Pasir Gudang, Johor, Johore Bahru, Malaysia USD 27,295 USD 27,295 42,120 84.44 USD 45,914 USD 5,719 USD 4,829 Armand Investment (Netherlands) N.V. Van Engelenweg 23, Curacao Netherlands Antilles USD 9,203 USD 9,203 4 70.00 USD 8,734 (USD 356 ) (USD 249 ) Evergreen Shipping (Spain) S.L. CALLE SIETE AGUAS, 11 - ENTLO. 46023 VALENCIA, SPAIN USD 3,870 USD 3,870 3 55.00 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 2,352 0.55 55.00 USD 1,811 (USD 563 ) (USD 309 ) USD 3,134 USD 3,134-55.00 USD 3,191 (USD 122 ) (USD 67 ) Evergreen Marine (UK) Ltd. 160 Euston Road, London NW 12 DX, U.K. USD 1,503 USD 1,503 765 51.00 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 247 0.675 67.50 USD 416 USD 418 USD 282 Evergreen Shipping Agency (Russia) Ltd. Evergreen Office,11 Millionnaya Street, ST. Petersburg, 191186 RUSSIA USD 848 USD 848-51.00 USD 976 USD 1,886 USD 962 157

Evergreen Shipping Agency (Singapore) Pte. Ltd. 200 Cantonment Road 12-02 Southpoint, Singapore 089763 USD 2,157 USD 2,157 765 51.00 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 10110 11F, Fideco Tower 81-85 Ham Nghi St., Dist. 1 Ho Chi Minh City, Vietnam USD 1,474 USD 1,474 408 51.00 USD 2,165 USD 1,388 USD 708 USD 454 USD 454-51.00 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 973 0.459 51.00 USD 2,168 USD 1,452 USD 740 USD 581 USD 581 5,500 55.00 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 2,000-20.00 USD 2,556 USD 841 USD 168 USD 33,161 USD 27,559 460 50.00 USD 83,307 (USD 10,449 ) (USD 5,225 ) USD 122,696 USD 106,213 0.451 49.00 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, 40150 SHAH ALAM, SELANGOR DARUL EHSAN, MALAYSIA. 5F,Shipping Tower,Al-Mina Road,P.O. BOX 34984,Dubai,U.A.E USD 1,199 USD 1,199-40.00 US D 2,257 USD 516 USD 206 USD 4,447 USD 4,447-40.00 USD 7,666 USD 3,117 USD 1,247 USD 7,255 USD 7,255 1,500 30.00 USD 7,203 USD 4,413 USD 1,324 USD 2,082 USD - - 49.00 USD 2,082 USD 1,976 USD - ( ) 158

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 13,636 0.04 100.00 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 12,678 41 9.76 USD 12,344 (USD 3,095 ) (USD 302 ) Armand Estate B.V. USD 9 USD 9 9 90.00 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 144-36.00 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. 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 Hemlock Equipment LLC. 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 USD 22,860 USD 22,860 22,860 40.00 USD 72,514 USD 10,091 USD 4,036 Ample Holding Ltd. USD 200 USD 200-100.00 USD 1,883 USD 617 USD 617 USD 200 USD 200-100.00 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 2,000-20.00 GBP 1,350 GBP 525 GBP 105 USD 60 USD 60-15.00 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 3,301 8 72.95 IDR 14,929,939 IDR 8,045,989 IDR 5,869,549 159

2. (%) ( 1) ( 2) ( 3) ( 3) 1 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. $ 45,728 $ 45,415 $ 45,415 1.699 2 $ - $ - - $ - $ 13,070,100 $ 26,140,201 Luanta Investment (Netherlands) N.V. 483,527 546,359 437,556 1.350 ~4.585 2 - - - - 13,070,100 26,140,201 2 Clove Holding Ltd. Island Equipment LLC. 143,009 - - - 2 - - - - 13,070,100 26,140,201 3 Evergreen Marine (UK) Ltd. Island Equipment LLC. 59,585 - - - 2 - - - - 13,070,100 26,140,201 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. 45,728 45,415 45,415 1.699 2 - - - - 13,070,100 26,140,201 1 1. 1 2. 2 2 2 3 1. 20% 65,350,502*20%=13,070,100 2. 40% 65,350,502*40%=26,140,201 160

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 $ - 0.28% $ 74,638,695 (USD 2,775 ) (USD 2,775 ) 1 1. 0 2. 1 2 1. 2. 3. 4. 5. 6. 3 4 GMSGMS 250% 29,855,478x250% 74,638,695 161

4. (Peony Investment S.A.) Clove Holding Ltd. 10 USD 64,025 100.00 USD 64,025 Evergreen Shipping Agency (Deutschland) GmbH - USD 8,909 100.00 USD 8,909 Evergreen Shipping Agency (Ireland) Ltd. 0.1 USD 205 100.00 USD 205 Evergreen Shipping Agency (Korea) Corporation 121 USD 1,379 100.00 USD 1,379 Evergreen Shipping Agency (Netherlands) B.V. 0.047 USD 4,966 100.00 USD 4,966 Evergreen Shipping Agency (Poland) SP.ZO.O 2 USD 551 100.00 USD 551 Greencompass Marine S.A. 3,535 USD 880,387 100.00 USD 880,387 Vigor Enterprise S.A. 5 USD 512 100.00 USD 512 Evergreen Shipping Agency (India) Pvt Ltd. 100 USD 2,859 99.99 USD 2,859 Evergreen Argentina S.A. 150 USD 64 95.00 USD 64 Evergreen Shipping Agency France S.A.S. 5 USD 1,484 100.00 USD 1,484 PT Multi Bina Pura International 68 USD 20,438 95.03 USD 20,438 PT Multi Bina Transport 2 USD 393 17.39 USD 393 Evergreen Heavy Industrial Corp. (Malaysia) Berhad 42,120 USD 45,914 84.44 USD 45,914 Armand Investment (Netherlands) N.V. 4 USD 8,734 70.00 USD 8,734 Evergreen Shipping (Spain) S.L. 3 USD 5,001 55.00 USD 5,001 Evergreen Shipping Agency (Italy) S.p.A. 0.55 USD 1,811 55.00 USD 1,811 Shenzhen Greentrans Transportation Co., Ltd.( ) - USD 3,191 55.00 USD 3,191 Evergreen Marine (UK) Ltd. 765 USD 98,097 51.00 USD 98,097 Evergreen Shipping Agency (Australia) Pty Ltd. 0.675 USD 416 67.50 USD 416 Evergreen Shipping Agency (Russia) Ltd. - USD 976 51.00 USD 976 Evergreen Shipping Agency (Singapore) Pte. Ltd. 765 USD 4,720 51.00 USD 4,720 Evergreen Shipping Agency (Thailand) Co., Ltd. 408 USD 2,165 51.00 USD 2,165 Evergreen Shipping Agency (Vietnam) Corp. - USD 1,429 51.00 USD 1,429 PT. Evergreen Shipping Agency Indonesia 0.459 USD 2,168 51.00 USD 2,168 Evergreen Agency (South Africa) (PTY) Ltd. 5,500 USD 3,119 55.00 USD 3,119 162

2011 Annual Report (Peony Kingtrans Intl. Logistics (Tianjin) Co., Ltd.( ( ) ) - USD 2,556 20.00 USD 2,556 Investment S.A.) Luanta Investment (Netherlands) N.V. 460 USD 83,307 50.00 USD 83,307 Balsam Investment (Netherlands) N.V. 0.451 USD 47,366 49.00 USD 47,366 Evergreen Shipping Agency Co. (U.A.E.) LLC - USD 2,082 49.00 USD 2,082 Ningbo Victory Container Co., Ltd.( ) - USD 2,257 40.00 USD 2,257 Qingdao Evergreen Container Storage & Transportation Co., Ltd. ( ) - USD 7,666 40.00 USD 7,666 Green Peninsula Agencies SDN. BHD. 1,500 USD 7,203 30.00 USD 7,203 Dongbu Pusan Container Terminal Co. Ltd. - 300 USD 1,556 15.00 USD 1,556 Hutchison Inland Container Depots Ltd. 0.75 USD 1,492 7.50 USD 1,492 Colombo - South Asia Gateway Terminal 18,942 USD 2,412 5.00 USD 2,412 PT. Multi Bina Pura International PT. Multi Bina Transport 8 IDR 14,929,939 72.95 IDR 14,929,939 Clove Holding Ltd. Ample Holding LTD. 9 USD 35,882 90.00 USD 35,882 Island Equipment LLC. - USD 2,050 36.00 USD 2,050 Ample Holding Ltd. Colon Container Terminal S.A. Ample 22,860 USD 72,514 40.00 USD 72,514 Island Equipment LLC. Whitney Equipment LLC. Island - USD 1,883 100.00 USD 1,883 Hemlock Equipment LLC. - USD 4,271 100.00 USD 4,271 Evergreen Marine (UK) Ltd. Island Equipment LLC. EMU - GBP 493 15.00 GBP 493 163

Evergreen Marine (UK) Limited Kingtrans Intl. Logistics (Tianjin) Co., Ltd.( ( ) ) - GBP 1,350 20.00 GBP 1,350 Evergreen Shipping Agency (UK) Limited EMU - - GBP 0.001 100.00 GBP 0.001 Lloyd triestino UK Limited - GBP 0.3 100.00 GBP 0.3 Armand Investment (Netherlands) N.V. Armand Estate B.V. 0.04 USD 12,448 100.00 USD 12,448 Armand Estate B.V. Armand Estate B.V. 41 USD 12,344 9.76 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 44 2.00 SGD 44 Evergreen Shipping Agency (Thailand) Co., Ltd. Green Siam Air Service Co. EGT 4 THB 1,160 2.00 THB 1,160 Evergreen Shipping Agency (Deutschland) GmbH Evergreen Shipping Agency (Austria) GmbH EGD - EUR 18 100.00 EUR 18 Zoll Pool Hafen Hamburg AG 10 EUR 10 3.36 EUR 10 Evergreen Shipping Agency (Switzerland) S.A. 0.1 EUR 69 100.00 EUR 69 5. 6. 7. 164

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% 15~30 - - - - USD 30,519 1% 15~30 - - - - Evergreen International S.A. USD 31,968 2% 15~30 - - - - Italia Marittima S.p.A USD 18,461 1% 15~30 - - - - Evergreen Marine (Singapore) Pte. Ltd. USD 16,437 1% 15~30 - - - - Evergreen Shipping Agency (Deutschland) GmbH USD 4,216 0% 15~30 - - - - Evergreen Shipping Agency (Netherlands) B.V. USD 3,798 0% 15~30 - - - - Evergreen Shipping Agency France S.A.S. USD 5,680 0% 15~30 - - - - USD 4,079 0% 15~30 - - - - Evergreen Marine (UK) Ltd. GBP 2,829 0% 30~60 - - 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% 5 - - USD 9 100% Evergreen Heavy Industrial Corp. (Malaysia) Berhad MYR 174,227 64% 45 - - - - Greencompass Marine S.A MYR 72,026 26% 45 - - MYR 20,126 100% Evergreen Marine (Singapore) Pte. Ltd. MYR 27,820 10% 45 - - - - 165

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

2011 Annual Report 10. Evergreen Marine (UK) Ltd. 100 12 31 100 12 31 USD 39,700 (USD 8,260 ) USD 321 USD 60 167

( ) ( 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 ( ) ( ) 1. 2. 3. 3 2. ( 2)( (2) (3)) 40.00 $ 6,062 (USD 206 ) 40.00 $ 36,651 (USD 1,247) 55.00 ($ 1,971 ) (-USD 67 ) 6.85 $ 6.85 40.00 $ 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 ) $ - - - - - - 168

2011 Annual Report IFRSs IFRSs 99 2 2 0990004943 169

(101) 11004163 100 12 31 99 12 31 100 1 1 12 31 99 1 1 12 31 Everport Terminal Services Inc. (Peony Investment S.A.) Everport Terminal Services Inc. (Peony Investment S.A.) Everport Terminal Services Inc. (Peony Investment S.A.) 100 12 31 99 12 31 49,203,361 48,120,287 35.65% 37.14% 100 1 1 12 31 99 1 1 12 31 32,773,492 37,796,175 30.30% 34.56% 100 12 31 99 12 31 14,447,282 17,329,990 10.47% PricewaterhouseCoopers Taiwan 11012 333 27 / 27F, 333 Keelung Rd., Sec. 1, Taipei, Taiwan 11012 T: +886 (2) 2729 6666, F:+ 886 (2) 2757 6371, www.pwc.com/tw 170

2011 Annual Report 13.38% 100 1 1 12 31 99 1 1 12 31 2,259,160 3,876,206 100 12 31 99 12 31 100 1 1 12 31 99 1 1 12 31 0960038033 1 0 1 3 2 7 171

100 99 12 31 1001231 991231 1001231 991231 % % % % 1100 (()) $ 23,006,258 17 $ 19,716,091 15 2100 (()) $ 3,910,312 3 $ 2,603,172 2 1310 1,914,301 2 2180 (()) 2,232,678 2 1,914,301 - (()) 255,246-842,874 1 1330 (()) 951,382 1 - - 2140 4,685,219 3 4,750,305 4 1120 93,263-73,622 8 2150 () 287,538-135,028-1140 (()) 7,835,603 6 9,613,758-2160 (()) 184,138-181,516-1150 () 142,525-297,685 1 2170 8,817,050 6 10,274,414 8 1160 1,743,448 1 1,261,468-2190 () 148,623-161,416-1180 () 591,340-534,090-2210 1,140,061 1 801,266 1 1190 (()) - - 158,383 3 2260 29,461-481,734-120X (()) 4,814,786 4 3,536,327-2270 1250 482,422-531,083 - (()) 7,102,812 5 6,942,992 5 1260 234,790-175,458-2280 () 2,121,915 2 2,224,936 2 1286 (()) 253,930-315,403 1 21XX 28,682,375 20 29,399,653 23 1291 () 520,132-561,663 1 1298 (()) 3,419,358 3 1,669,374 31 2410 (()) - - 2,218,775 2 11XX 46,321,915 34 40,358,706 11 2420 (()) 37,863,525 28 24,139,352 18 13,655,639 15 9,968,985 2446 1,953,360 1 - - 1430 24XX 39,816,885 29 26,358,127 20 (()) 62,959-104,287-1450 (()) 602,904 1 957,108 1 2810 (()) 1,450,813 1 1,079,875 1 1460 (()) 370,000-3,135,915 2 2820 40,231-32,191-1480 (()) 1,515,391 1 4,497,128 4 2860 (()) 1,316,628 1 1,493,738 1 1421 (()) 23,919,745 17 27,363,307 21 2880 1,104,217 1 980,334 1 1428 312-3,527-28XX 3,911,889 3 3,586,138 3 14XX 26,471,311 19 36,061,272 28 2XXX 72,411,149 52 59,343,918 46 (()) 1501 2,177,397 2 2,173,390 2 (()) 1521 2,898,319 2 2,920,953 2 3110 34,734,581 25 31,248,395 24 1531 724,077-718,259 1 (()) 1532 6,420,851 5 7,965,773 6 3210 5,805,861 4 5,456,524 4 1544 319,673-297,946-3250 372-371 - 1551 25,093,249 18 23,583,460 18 3260 1,606,562 1 1,611,003 1 1552 53,534,978 39 49,271,864 38 3272 60,884-128,379-1561 507,486-502,976 1 3280 6,713-6,713-1611 2,489,407 2 8,278 - (()) 1631 16,604-15,841-3310 9,102,785 7 7,586,240 6 15XY 94,182,041 68 87,458,740 68 3320 4,579,324 4 957,344 1 15X9 ( 45,942,449) ( 33) ( 41,500,058) ( 32) 3350 8,862,023 7 23,407,874 18 1670 16,523,249 12 6,771,838 5 15XX 64,762,841 47 52,730,520 41 3420 ( 2,656,053) ( 2) ( 5,055,677) ( 4 3430 ( 1,229,959) ( 1) ( 707,771) ( - 1770 61,058-59,300-3450 292,733-1,184,125 1 361X 61,165,826 45 65,823,520 51 1820 118,412-110,902-3610 4,435,709 3 4,398,045 3 1830 274,235-243,506-3XXX 65,601,535 48 70,221,565 54 1888 2,912-1,277 - () 18XX 395,559-355,685 - () 1XXX $ 138,012,684 100 $ 129,565,483 100 1XXX $ 138,012,684 100 $ 129,565,483 100 101 3 27 172

2011 Annual Report 100 99 1 1 12 31 ( ( ) ) 100 99 % % 4000 (()) $ 108,156,058 100 $ 109,353,176 100 5000 (()) ( 108,325,035) ( 100) ( 91,609,132) ( 84) 5910 () ( 168,977) - 17,744,044 16 6200 (()) ( 4,948,726) ( 5) ( 5,025,347) ( 4) 6900 () ( 5,117,703) ( 5) 12,718,697 12 7110 239,521-220,627-7121 (()) - - 4,337,426 4 7122 473,482 1 309,428-7130 () 1,125,260 1 1,136,610 1 7140 1,128,393 1 14,162-7160 219,735 - - - 7210 () 119,773-121,127-7320 (()) 232,863-390,685 1 7480 640,726 1 168,983-7100 4,179,753 4 6,699,048 6 7510 ( 415,765) - ( 684,217) ( 1) 7521 (()) ( 1,938,535) ( 2) - - 7530 ( 23,587) - ( 29,680) - 7560 - - ( 1,738) - 7580 ( 17,207) - ( 18,509) - 7640 (()) ( 36,992) - ( 90,590) - 7880 ( 49,119) - ( 37,434) - 7500 ( 2,481,205) ( 2) ( 662,168) ( 1) 7900 () ( 3,419,155) ( 3) 18,755,577 17 8110 (()) ( 260,647) - ( 983,010) ( 1) 9600XX ($ 3,679,802) ( 3) $ 17,772,567 16 9601 ($ 3,092,361) ( 3) $ 15,165,451 14 9602 ( 587,441) - $ 2,607,116 2 ($ 3,679,802) ( 3) $ 17,772,567 16 ()(()) 9710 () ( $ 0.99) ( $ 1.06) $ 5.55 $ 5.26 9740AA 0.16 0.17 ( 0.81) ( 0.77) 9750 () ($ 0.83) ( $ 0.89) $ 4.74 $ 4.49 ()(()) 9810 ( ($ 0.99) ( $ 1.06) $ 5.36 $ 5.08 9840AA 0.16 0.17 ( 0.78) ( 0.74) 9850 () ($ 0.83) ( $ 0.89) $ 4.58 $ 4.34 101 3 27 173

100 99 1 1 12 31 99 9911 $ 30,625,992 $ 6,675,194 $ 7,586,240 $ 957,344 $ 8,242,423 $ 640,363 ($ 483,688) $ 207,729 $ 2,566,776 $ 57,018,373 622,403 655,621 - - - - - - - 1,278,024 - (127,826 ) - - - - - - - ( 127,826) - 1 - - - ( 1,075,152 ) ( 68,319) 711,600 - ( 431,870) - - - - - ( 4,620,888 ) - - - ( 4,620,888) - - - - - - ( 155,764) - - ( 155,764) - - - - - - - 264,796-264,796 99 - - - - 15,165,451 - - - 2,607,116 17,772,567 - - - - - - - - ( 775,847) ( 775,847) 991231 $ 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 $ 70,221,565 100 10011 $ 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) - - - - - - - - 3,621,980 (3,621,980) - - - - - 3,157,544 - - - (3,157,544) - - - - - - - - - (3,157,544) - - - - ( 3,157,544) 328,642 349,337 - - - - - - - 677,979 - ( 67,494) - - - - - - - ( 67,494) - ( 4,441) - - 123 318,021 ( 212,794) ( 539,536) - ( 438,627) - - - - - 2,081,603 - - - 2,081,603 - - - - - - ( 309,394) - - ( 309,394) - - - - - - - ( 351,856) - ( 351,856) 100 - - - - ( 3,092,361) - - - ( 587,441) ( 3,679,802) - - - - - - - - 625,105 625,105 1001231 $ 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$40,000 101327 174

2011 Annual Report 100 99 1 1 12 31 100 99 ( $ 3,679,802) $ 17,772,567 5,264,002 5,348,986 28,480 33,911 248,744 276,743 43,029 54,195 ( 1,101,673) ( 1,106,930) () 2,996,453 ( 3,811,698) 190,021 210,914 ( 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) 216,465 158,383 80,525 ( 1,157,338) ( 1,449,362) 9,783 13,607 52,245 ( 310,585) 349,234 964,593 ( 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) 4,751,716 566,373 230,710 ( 470,228) 429,027 179,778 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) - 44,848-1,820,000 460,000 - ( 470,000) 62,107 196,674-3,761,685 - ( 710,377) ( 794,744) - 164,063 1,152,233-752 - ( 20,502,299) ( 12,007,534) 5,226,423 1,191,782 ( 90,633) ( 26,797) ( 9,557,284) ( 11,949,330) 1,307,140 339,346 - ( 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 $ 1,247,300 101 3 27 175

100 99 12 31 / ( ) ( )1. 57 9 25 71 11 2 76 7 6 9 21 100 12 31 4,395 2. ( ) 1. 50% 97 1 1 2. 3. ( ) ( ) Everport Terminal Services Inc.(ETS) (%) 100 12 31 55.00 55.00 100.00 100.00 100.00-99 12 31 176

2011 Annual Report Greencompass Marine S.A. (GMS) (%) 100 12 31 100.00 100.00 Clove Holding Ltd. (CLOVE) 100.00 100.00 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) 100.00 100.00 51.00 51.00 84.44 84.44 70.00 70.00 55.00 55.00 20.00 20.00 95.03 95.03 17.39 17.39 51.00 51.00 100.00 100.00 51.00 51.00 51.00 51.00 99.99 99.99 67.50 67.50 55.00 55.00 55.00 55.00 99 12 31 177

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) (%) 100 12 31 51.00 51.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.40 100.00 100.00 51.00 51.00 55.00 55.00 95.00 95.00 15.00 15.00 20.00 20.00 90.00 90.00 36.00 36.00 100.00 100.00 100.00 100.00 100.00 100.00 72.95 72.95 99 12 31 178

2011 Annual Report (1) 100 ( ) (2) a. 100 4 29 ( ) ETS100% ETS b. EGF 100 6 24 Evergreen Shipping Agency France S.A. Evergreen Shipping Agency France S.A.S.Peony 99.4% 100% 4. 5. 6. 7. 8. 9. ( ) ( ) 1. 2. 3. ( ) 1. (1) (2) (3) (4) 179

2. (1) (2) (3) (4) ( ) 1. 2. ( ) 1. 2. / 3. 4. ( ) 5. (1) (2) (3) ( ) 1. 2. / 3. 180

2011 Annual Report ( ) 1. 2. 3. ( ) 1. 2. ( ) 1. 2. ( ) ( ) 1. 20 95 ( ) 94 12 31 2. 181

( ) 1. 2. 3. 4. ( ) 3 ( ) ( ) 1. 95 1 1 (1) (2) (3) (4) 182

2011 Annual Report 2. ( ) 15 ( ) 1. ( ) 2. 3. 10% ( ) 97 1 1 96 3 16 (96) 052 97 3 31 (97) 127 ( ) ( ) ( ) 1. 183

2. ( ) ( ) 100 1 1 ( ) 100 ( ) 100 1 1 100 99 ( ) 184

2011 Annual Report ( ) 100 12 31 99 12 31 $ 22,989 $ 30,788 1,017,506 509,567 781,753 947,025 3,508,988 2,972,687 3,243,500 1,174,521 14,128,710 14,122,814 299,664 - ( ) ( ) 3,148 ( 41,311 ) $ 23,006,258 $ 19,716,091 0.01%~14.00% 0.05%~14.00% ( ) 100 12 31 99 12 31 $ 10,292 $ 290 2,366,704 2,041,462-158 1,824 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 $ 104,287 1. 100 99 $36,992 $90,590 2. 185

( ) 100 12 31 99 12 31 ( ) $ 490,801 $ 490,801 ( ) 1,523 3,871 492,324 494,672 110,580 462,436 $ 602,904 $ 957,108 ( ) 100 12 31 99 12 31 $ 951,382 $ - $ 370,000 $ 1,315,915-1,820,000 $ 370,000 $ 3,135,915 ( ) 100 12 31 99 12 31 $ 1,515,391 $ 4,497,128 1. ( : ( ) 99 12 17 ) 100 6 98.44% $10 $62,107 $476 $61,631-2. 100 3 22 Clove Holding Ltd.( Clove) Classic Outlook Investment Ltd.( Classic)Everup Profits Ltd.( Everup) USD29 USD128,120 Classic Everup Clove USD25,761 3. 186

2011 Annual Report ( ) 100 12 31 99 12 31 $ 7,853,755 $ 9,655,574 ( ): ( ) 735 ( 23,461 ) : ( 18,887 ) ( 18,355 ) 7,835,603 9,613,758 142,525 297,685 $ 7,978,128 $ 9,911,443 ( ) - 100 12 31 99 12 31 $ - $ 158,383 ( ) 100 12 31 99 12 31 $ 3,688,168 $ 2,709,121 1,126,618 827,206 $ 4,814,786 $ 3,536,327 ( ) - 100 12 31 99 12 31 $ 928,886 $ 1,173,694 1,353,068 348,828 1,137,404 146,852 $ 3,419,358 $ 1,669,374 1. 2. Gaining Enterprise S.A.Italia Marittima S.p.A.Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte. Ltd. 187

( ) 1. 100 12 31 100 12 31 99 12 31 ( ) 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. 50.00% 2,522,258 2,444,745 Balsam Investment (Netherlands) N.V. 49.00% 1,434,080 3,257,816 Colon Container Terminal S.A. 36.00% 2,195,474 2,035,250 Evergreen Container Terminal (Thailand) Ltd. - - 821,994 670,668 752,065 $ 23,919,745 $ 27,363,307 2. 100 99 ( ) : 100 99 ( ) $ 59,868 $ 56,468 ( ) 305,923 471,098 ( ) 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. 118,642 132,531 Evergreen Container Terminal (Thailand) Ltd. - 251,950 93,394 95,290 ($ 1,938,535 ) $ 4,337,426 3. 100 3 22 Peony Investment S.A.( Peony) Evergreen Container Terminal (Thailand) Ltd.( ECTT) USD4.27 USD39,200 USD10,754 4. 98 7 23 ( ( ) ) 10 ( ) - ( ) 86,595 188

2011 Annual Report ( ) 100 12 31 $ 2,177,397 $ - $ 2,177,397 2,898,319 ( 1,268,501 ) 1,629,818 724,077 ( 572,786 ) 151,291 6,420,851 ( 4,535,733 ) 1,885,118 319,673 ( 262,469 ) 57,204 25,093,249 ( 13,815,039 ) 11,278,210 53,534,978 ( 25,046,462 ) 28,488,516 507,486 ( 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 ) $ 64,762,841 99 12 31 $ 2,173,390 $ - $ 2,173,390 2,920,953 ( 1,309,106 ) 1,611,847 718,259 ( 547,774 ) 170,485 7,965,773 ( 4,879,032 ) 3,086,741 297,946 ( 258,481 ) 39,465 23,583,460 ( 12,394,327 ) 11,189,133 49,271,864 ( 21,726,921 ) 27,544,943 502,976 ( 371,449 ) 131,527 8,278 ( 7,333 ) 945 15,841 ( 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 ) $ 52,730,520 1. 100 99 12 31 USD1,337,820 USD1,361,700 GARD P&I (PROTECTION & INDEMNITY)100 99 USD8,000,000 USD5,000,000 189

2. 100 99 12 31 $ 6,004,878 $ 6,108,545 100 99 12 31 $4,313,542 $3,936,788 100 99 12 31 USD631,663 USD632,591 3. 100 $45,572 ( ) 100 12 31 99 12 31 $ 3,910,312 $ 2,602,020-1,152 $ 3,910,312 $ 2,603,172 1.29%~2.50% 0.69%~0.76% ( ) 100 12 31 99 12 31 $ 250,083 $ 238,467-72,338-271,141 5,163 260,928 $ 255,246 $ 842,874 1. 100 99 $232,863 $390,685 2. ( ) 100 12 31 99 12 31 $ 2,955,661 $ 1,156,100 4,147,151 5,786,892 $ 7,102,812 $ 6,942,992 190

2011 Annual Report ( ) 100 12 31 99 12 31 $ 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 ) $ - $ 2,218,775 1. 98 7 23 ( ) $2,500,000 (1) 3 98 7 23 101 7 23 (2) 0% (3) (4) a. ( ) b. ( ) ( ) 14 c. ( ) (5) ( ) (6) a. 1 40 30 30%( ) 30 b. 1 40 191

10% c. (7) a. 1 10 3 ( ) b. 98 7 15 1 3 5 101%~110% 30.31 28.87 (8) 1 1 3 ( ) 3 ( ) ( ) 12 31 ( ) (9) 100 12 31 2. 98 8 7 ( ) $2,500,000 (1) 5 98 8 7 103 8 7 (2) 0% (3) 192

2011 Annual Report (4) (5) a. 1 40 30 30%( ) 30 b. 1 40 $250,000( 10%) c. (6) 2 3 30 2 3 ( 2 101.00% 0.5% 3 101.51% 0.5%) (7) a. 1 10 3 ( ) b. 98 7 30 1 3 5 101.00% 20.04 17.20 (8) 1 1 3 ( ) 193

3 ( ) ( ) 12 31 ( ) (9) 100 12 31 $1,905,900 - $1,004,958 - $195,320 3. 98 8 7 - $256,205 ( ) 100 12 31 99 12 31 $ 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 $ 24,139,352 0.95%~9.38% 0.75%~9.38% 194 ( ) 1. 94 7 1 6 15 ( ) 15 45 15%

2011 Annual Report 2. (1) 100 12 31 99 12 31 2.00% 2.25% 2.00% 2.00% 2.00% 2.00% (2) 99 12 31 99 12 31 ($ 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 ) 460,033 464,606 ( 1,697,980 ) ( 1,422,892 ) 46,592 52,417 14,465 16,073 1,157,923 933,729 ( 971,813 ) ( 659,202 ) ($ 1,450,813 ) ($ 1,079,875 ) (3) 100 99 $ 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 $ 128,603 3. 94 7 1 6% 195

4. 100 99 $159,394 $159,977 ( ) 1. 100 12 31 $36,000,000 $34,734,581 3,473,458 10 2. 100 99 100 99 ( ) ( ) 32,864 $ 328,642 62,240 $ 622,403 ( ) 1. 2. - ( ) ( ) 1. 10% 0.5% 5% 10% 2. 25% 3. ( ) 4. 100 6 24 99 6 18 99 98 196

2011 Annual Report 99 98 ( ) ( ) $ 1,516,545 $ - 3,621,980-3,157,544 $ 1.0 - $ - 3,157,544 1.0 - - 99 100 3 22 5. 101 3 16 100 101 3 27 6. 100 99 $40,000 $55,000 99 7. ( ) 100 99 $ 102,841,927 $ 104,680,813 958,868 660,245 1,587,599 1,767,410 289,147 261,955 2,478,517 1,982,753 $ 108,156,058 $ 109,353,176 197

( ) 1. 100 99 $ 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 $ 181,516 2. 100 99 12 31 ( ) 100 12 31 99 12 31 - $ 253,944 $ 315,468-96,582 78,447 - ( 14 ) ( 65 ) - ( 1,413,210 ) ( 1,572,185 ) - - ($ 1,062,698 ) ($ 1,178,335 ) 3. ( ) : 100 12 31 99 12 31 $ 1,937 $ 329 $ 1,766 $ 300 ( 63 ) ( 14 ) ( 267 ) ( 65 ) 28,042 4,727 43,347 7,289 131,424 22,342 131,424 22,342 383 65 - - - - 337,501 57,375 - - 2,874 489 1,186,162 201,648 1,222,605 207,843 24,833 19,830 $ 253,930 $ 315,403 198

2011 Annual Report $ 52,344 $ 15,120 $ 23,101 $ 6,759 479,144 81,462 420,674 71,515 - - 1,020 173 ( 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 ) 4. 100 12 31 $ 36,000 $ 24,833 104 5. 100 12 31 98 $ 2,456,334 $ 417,577 $ 201,648 108 6. 98 7. 100 12 31 99 12 31 86 $ 5,570,596 $ 5,570,596 87 3,291,427 17,837,278 $ 8,862,023 $ 23,407,874 8. 100 99 12 31 $1,013,143 $2,509,271 100 30.78% 99 14.97% 199

( ) ( ) 100 ( ) ( ) ($ 3,419,155 ) ($ 3,679,802 ) $ 3,469,771 ($ 0.99 ) ($ 1.06 ) 545,832 587,441 0.16 0.17 ($ 2,873,323 ) ($ 3,092,361 ) ($ 0.83 ) ($ 0.89 ) ($ 2,873,323 ) ($ 3,092,361 ) $ 3,469,771 ($ 0.83 ) ($ 0.89 ) 100 99 ( ) ( ) $ 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 47,693 128,225 - - 1,652 $ 16,051,953 $ 15,213,144 $ 3,507,720 $ 4.58 $ 4.34 99 99 200

2011 Annual Report ( ) : 100 $ 1,485,326 $ 2,406,585 $ 3,891,911 44,388 229,191 273,579 203,208 275,608 478,816 123,973 92,266 216,239 5,149,181 114,821 5,264,002 248,744 28,480 277,224 99 $ 1,363,705 $ 2,518,724 $ 3,882,429 34,236 209,416 243,652 200,289 285,637 485,926 215,914 89,569 305,483 5,237,802 111,184 5,348,986 276,743 33,908 310,651 201

( ) (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) ( 100 12 ) ( 100 3 ) Luanta Balsam Island SGTC 202

2011 Annual Report ( ) 1. 100 99 (%) (%) $ 1,905,287 2 $ 1,831,264 2 91,125-94,864 - EIS 140,052-267,962 - EGH 447,607-445,124 - ITS 614,043 1 582,953 1 EMS 860,756 1 803,694 1 STS 132,163-116,745 - GESA 31,026-28,510 - - - 27 - $ 4,222,059 4 $ 4,171,143 4 2. 100 99 (%) (%) $ 551,703 - $ 776,310 1 621,673 1 619,523 1 45,174-46,718-77,080-56,697 - GESA 1,552,673 2 1,660,616 2 EIS 939,662 1 670,705 - EGH 964,448 1 1,096,348 1 ITS 546,142-9,443 - EMS 515,969 - - - 5,761-5,456 - $ 5,820,285 5 $ 4,941,816 5 203

3. (1) 100 99 $ 3,351 $ 274-502,254 - - 492,993 - - 470,324 - $ 1,468,922 $ 274 (2) 100 99 $ 1,626 $ - $ - $ - 32 32 - - 9,666 9,644 - - 163 21 - - - - - 88 82 $ 11,487 $ 9,697 $ 88 $ 82 4. (1) ( ) 100 99 (%) (%) $ 95,040 80 $ 94,708 78 1,056 1 1,122 1 1,595 1 497-96 - 92-218 - 208 - $ 98,005 82 $ 96,627 79 204

2011 Annual Report (2) ( ) 100 99 (%) (%) $ 43,456 99 $ 43,047 99 53 1 221 1 $ 43,509 100 $ 43,268 100 (3) ( ) 100 99 (%) (%) $ 369,925 8 $ 603,087 17 GESA 1,552,673 35 1,660,616 46 EIS 939,662 21 670,705 19 ITS 546,142 12 9,443 - EMS 515,969 11 - - EGH 4,232-4,785 - $ 3,928,603 87 $ 2,948,636 82 5. ( ) 100 12 31 99 12 31 (%) (%) $ 72,796 2 $ 115,167 1 22,889-22,062 - ITS 22,549-48,207 1 EMS 11,120-100,207 1 13,171-12,042 - $ 142,525 2 $ 297,685 3 205

100 12 31 99 12 31 (%) (%) $ 71,416 3 $ 62,237 3 Luanta 442,114 19 372,866 21 EIS 70,679 3 1,041-7,131-97,946 6 $ 591,340 25 $ 534,090 30 100 12 31 99 12 31 (%) (%) $ 30,148 1 $ 34,509 1 10,727-12,208 - ITS 201,663 4 31,110 1 EIS 7,610-19,341 - EMS 31,503 1 22,680 1 EGH 1,416-10,645-4,471-4,535 - $ 287,538 6 $ 135,028 3 100 12 31 99 12 31 (%) (%) EIS $ 103,208 9 $ 103,162 11 ITS 45,415 3 58,254 6 $ 148,623 12 $ 161,416 17 ( ) 100 12 31 99 12 31 BALSAM USD 49,000 USD 49,000 CCT USD 9,600 USD 9,600 TCT USD 23,025 USD 20,772 206

2011 Annual Report ( ) 1. 85 7 2. 91 100 99 12 31 $71,856 $61,904 3. $940 $1,614 4. 100 99 12 31 100 12 31 99 12 31 EMS $ 10,436 $ 9,983 GESA 7,345 8,920 EIS 3,468 2,734 EGH 4,308 3,821 $ 25,557 $ 25,458 5. ( ) 100 99 12 31 100 12 31 99 12 31 $ 43,760 $ 376,262 6. Gaining Enterprise S.A. Italia Marittima S.p.A.Evergreen Marine (Hong Kong) Ltd. Evergreen Marine (Singapore) Pte. Ltd. ( ) 100 99 12 31 (1) 100 12 31 99 12 31 EIS $ 1,020,814 $ 135,877 ITS 94,018 86,798 GESA 20,853 27,908 $ 1,135,685 $ 250,583 207

(2) 100 12 31 99 12 31 EGH 178,794 125,854 EMS $ 50,703 $ 326,920 $ 229,497 $ 452,774 7. 100 99 ( ) 100 99 $ 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 ( ) 100 99 $ 128,837 $ 125,062 3,635 6,018 3,510 59,134 $ 135,982 $ 190,214 1. 2. 3. ( ) 99 $50,000 208

2011 Annual Report 100 99 12 31-100 12 31 99 12 31 $ 520,132 $ 561,663 2,000 2,000 1,800,093 1,800,093 813,889 839,659 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 $ 24,529,481 1. 100 12 31 USD5,000 2. 3. 85 6 19 (85) ( ) 35410 85 8 2 USD115,000 5,449,592 54,495,920 50.50 817,438 6,267,030 62,670,300 50.50 USD115,000 86 100 12 31 2,085,856 20,858,634 100 12 31 7,975,440 377,446 3,774,534 209

4. 100 12 31 $39,361,699 $16,642,398 5. 100 12 31 1 USD 208,982 1~2 117,104 2~3 53,838 3~4 51,036 4~5 38,111 5 82,794 USD 551,865 6. 100 12 31 $19,252,067 7. Samsung Heavy Industries Co., Ltd. USD1,339,000 100 12 31 USD844,600 8. 100 5 20 7 100 12 31 USD721,000 USD684,950 1. Peony Investment S.A. 101 1 18 101 3 21 Balsam Investment(Netherlands)N.V. EUR19,600 EUR49,000 EUR68,600 49% 2. 101 3 16 12 $3,000,000 $1,000 5 2% 3. 101 3 16 ( ) 210

2011 Annual Report ( ) 99 100 ( ) 100 12 31 $ 23,006,258 $ - $ 23,006,258 10,406,179-10,406,179 10,003 10,003-2,220,851 2,220,851-62,959-62,959 951,382-951,382 520,132-520,132 602,904 602,904 - - 370,000-370,000 1,515,391 - - 118,412-118,412 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 1,824-1,824 250,083-250,083 5,163-5,163 211

99 12 31 $ 19,716,091 $ - $ 19,716,091 11,780,623-11,780,623 334 334-1,908,594 1,908,594-104,287-104,287 158,383-158,383 561,663-561,663 957,108 957,108 - - 3,135,915-3,135,915 4,497,128 - - 110,902-110,902 2,603,172-2,603,172 16,303,945-16,303,945 ( ) 3,374,875-3,374,875 ( ) 24,240,182-24,240,182 32,191-32,191 158-158 5,215-5,215 238,467-238,467 72,338-72,338 271,141-271,141 260,928-260,928 212

2011 Annual Report 1. ( ) ( ) 2. 3. 4. 5. 6. 7. ( ) 1. 100 99 $235,521 $216,879 $415,765 $484,217 2. 100 99 $387,812 $264,796 $35,957 $0 ( ) 100 99 12 31 $0 $158 $250,083 $238,467 $4,290,110 $3,914,665 $42,927,184 $28,107,525 ( ) 213

100 12 31 1. 1 1 2 2 3 3 $ 17,675,619 $ - $ - $ - $ 17,675,619 ( 200,000 ) ( 200,000 ) ( 200,000 ) ( 2,400,000 ) ( 3,000,000 ) 2. 1 1 2 2 3 3 $ 4,290,110 $ - $ - $ - $ 4,290,110 ( 7,857,463 ) ( 6,191,085 ) ( 9,290,526 ) ( 19,588,110 ) ( 42,927,184 ) 214

2011 Annual Report : 100 12 31 99 12 31 $ 383,590 30.2765 $ 402,563 29.1830 37,013 39.2156 53,219 38.8251 6,045,981 0.0262 - - 67,487 4.7913 - - 232,636 0.9533 - - 29,530 3.7076 - - 79,624,998 0.0014 - - 152,971 0.5722 - - 101,064 30.2765 243,300 29.1830 115,524 9.5532 85,251 9.4643 20,261 46.6455 - - 234,740 30.2765 329,546 29.1830 $ 759,064 30.2765 $ 731,964 29.1830 25,165 39.2156 16,715 38.8251 192,632 46.6455 135,819 45.0688 4,439,096 0.0262 - - 43,649 4.7913 - - 343,006 0.9533 - - 21,092 3.7076 - - 277,364 0.5722 - - 215

100 12 31 $ 2,232,678 $ 2,232,678 62,959 62,959 1,321,382 1,321,382 602,904 602,904 1,515,391 1,515,391 99 12 31 $ 1,914,301 $ 1,914,301 104,827 104,287 1,315,915 1,315,915 1,820,000 1,820,000 957,108 957,108 4,497,128 4,497,128 216

2011 Annual Report ( ) 1. 2. ( 1) ( 2) (%) ( 34) 0 Greencompass Marine S.A. 3 $ 130,701,004 $ 27,728,344 $ 27,728,344 $ - 42.43% $ 163,376,255 (USD 915,837 ) (USD 915,837 ) 0 Peony Investment S.A. 2 130,701,004 451,178 448,093-0.69% (USD 14,800 ) (USD 14,800 ) 0 EVERGREEN MARINE (UK) LTD. 3 130,701,004 52,403,055 52,403,055-80.19% (USD 1,730,816 ) (USD 1,730,816 ) 0 Taranto Container Terminal S.p.A. 6 32,675,251 620,633 613,099-0.94% (USD 20,792 ) (USD 20,250 ) 0 Whitney Equipment LLC. 3 130,701,004 2,870,590 2,850,956-4.36% (USD 94,164 ) (USD 94,164 ) 0 Hemlock Equipment LLC. 3 130,701,004 1,762,338 1,750,284-2.68% (USD 57,810 ) (USD 57,810 ) 0 Colon Container Terminal S.A. 6 32,675,251 292,656 290,654-0.44% (USD 9,600 ) (USD 9,600 ) 0 Balsam Investment (Netherlands) N.V. 6 32,675,251 1,493,765 1,483,549-2.27% (USD 49,000 ) (USD 49,000 ) 0 Evevgreen Agency (South Africa) (PTY) Ltd. 3 130,701,004 117,854 - - 0.00% (USD 4,000 ) (USD - ) 1 1. 0 2. 1 2 1. 2. 3. 4. 5. 6. 3 4 250% 65,350,502 x 250% 163,376,255 217

3. (%) 4,765 $ 44,769,469 100.00 $ 44,930,636 ( ) 5,500 87,777 55.00 87,777 ( ) Everport Terminal Services Inc. 1 3,028 100.00 3,028 ( ) 47,204 609,794 40.00 609,794 424,062 7,991,293 39.74 6,000,482 12/31 5,280 89,111 31.25 89,111 629,483 7,315,432 19.32 12,086,078 12/31 88,344 807,008 21.03 805,459-1,290 12,898 5.68 6,908 99-4.93 4,735 126,735 1,250,000 1.95 631,140 7,000 43,749 17.50 86,869 Linden Technologies, Inc. 50 15,372 2.53 - Toplogis, Inc. 2,464 22,100 17.48 18,195-46,561 582,008 8.45 582,008 12/31 652 20,896 0.01 20,896 12/31-22 193-193 12/31 600 9,810 0.01 9,810 12/31 ( ) 218

2011 Annual Report (%) - 37,185 $ 563,121 - $ 563,121 4,609 60,408-60,408 26,155 411,411-411,411 4,318 743,039-743,039 8,944 130,642-130,642 25,879 312,230-312,230 - - 62,959-62,959 - - 800,000-800,000 - - 220,000-220,000 98 1 (B ) - 100,000-100,000 99 1-50,000-50,000 219

4. - 33,882 $510,005 102,760 $1,550,000 99,457 $1,500,187 $1,498,883 $ 1,304 37,185 $561,122 10,015 120,000 111,519 1,340,000 95,655 1,150,086 1,148,871 1,215 25,879 311,129 - - 7,531 1,290,000 3,213 550,005 549,754 251 4,318 740,246 - - 8,944 130,000 - - - - 8,944 130,000 5,754 90,000 28,705 450,000 8,304 130,000 129,945 55 26,155 410,055 12,987 180,021 32,443 450,000 45,430 630,231 630,021 210 - - 42,137 510,011 56,126 680,000 98,263 1,191,190 1,190,011 1,179 - - 1699 18,548 240,000 - - 18,548 240,098 240,000 98 - - 220

2011 Annual Report 5. 6. ( ) 2011/5/31 2005/11/30 $ 135,264 $ 300,366 ( ) $ 165,102 221

7. ( ) ( ) ( ) ( ) ( ) $ 551,703 3% 30~60 $ - - ($ 10,728 ) 1% 360,052 2% 30~60 - - ( 22,761 ) 1% 1,900,307 12% 30~60 - - 71,856 9% 684,593 4% 30~60 - - ( 38,695 ) 2% ) Gaining Enterprise S.A. 1,552,673 10% 30~60 - - - - ( ) 222

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

( ) 1. East 53rd Street, Marbella, MMG Building, 2nd Floor,Panama, Republic of Panama USD 476,500 USD 476,500 4,765 100.00 $ 44,769,469 ($ 3,832,744 ) ($ 3,998,886 ) ( ) ( ) 177 2 55,000 55,000 5,500 55.00 87,777 8,667 4,767 Everport Terminal Services Inc. 1209 Orange Street in the city of Wilmington, Country of New Castle USD 100 USD - 1 100.00 3,028 - - ( ) 369 2 320,000 320,000 47,204 40.00 609,794 149,671 59,868 ( ) 899 4,753,514 4,753,514 424,062 39.74 7,991,293 813,397 305,923 ( ) 111 45 25,000 25,000 5,280 31.25 89,111 37,652 11,766 ( ) 1 376 11 10,767,879 10,767,879 629,483 19.32 7,315,432 209,027 40,375 ( ) 7 25 883,731 883,731 88,344 21.03 807,008 ( 90,963 ) ( 19,133 ) Clove Holding Ltd. Craigmuir Chambers, P. O. Box71, Road Town, Tortola, B.V.I. USD 52,549 USD 52,549 10 100.00 USD 64,025 USD 52,349 USD 52,349 ( ) Evergreen Shipping Agency (Deutschland) GmbH Evergreen Building Amsinckstrasse 55 20097 Hamburg,Germany USD 8,316 USD 8,316-100.00 USD 8,909 USD 373 USD 373 Evergreen Shipping Agency (Ireland) Ltd. 22 Fiztwilliam Place, Dublin 2, Ireland USD 95 USD 95 0.1 100.00 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 2,426 121 100.00 USD 1,379 (USD 89 ) (USD 89 ) Evergreen Shipping Agency (Netherlands) B.V. PortCity - Havennummer 2235 Waalhaven ZZ 19 3089 JH Rotterdam, The Netherlands USD 3,977 USD 3,977 0.047 100.00 USD 4,966 USD 278 USD 278 Evergreen Shipping Agency (Poland) SP. ZO.O UL. SOLEC 22, 00-410 WARSZAWA, POLAND USD 662 USD 662 2 100.00 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 3,535 100.00 USD 880,387 (USD 100,623 ) (USD 100,623 ) 224

2011 Annual Report Vigor Enterprise S.A. East 53rd Street, Marbella, MMG Building 2nd Floor, Panama, Republic of Panama USD 500 USD 500 5 100.00 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 400 013, INDIA USD 184 USD 184 100 99.99 USD 2,859 USD 1,015 USD 1,015 Evergreen Argentina S.A. Pje. Carabelas 344, (C1009AAD), Buenos Aires. Argentina USD 140 USD 140 150 95.00 USD 64 (USD 190 ) (USD 180 ) Evergreen Shipping Agency France S.A.S. Tour Franklin-La Defense 8, 92042 PARIS LA DEFENSE CEDEX-FRANCE. USD 907 USD 907 5 100.00 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 20,204 68 95.03 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 804 2 17.39 USD 393 USD 918 USD 160 Evergreen Heavy Industrial Corp.(Malaysia) Berhad Lot 139, Jalan, Cecair, Phase 2 Free Trade Zone Johor Port Authority, 81700 Pasir Gudang, Johor, Johore Bahru, Malaysia USD 27,295 USD 27,295 42,120 84.44 USD 45,914 USD 5,719 USD 4,829 Armand Investment (Netherlands) N.V. Van Engelenweg 23, Curacao Netherlands Antilles USD 9,203 USD 9,203 4 70.00 USD 8,734 (USD 356 ) (USD 249 ) Evergreen Shipping (Spain) S.L. CALLE SIETE AGUAS, 11 - ENTLO. 46023 VALENCIA, SPAIN USD 3,870 USD 3,870 3 55.00 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 2,352 0.55 55.00 USD 1,811 (USD 563 ) (USD 309 ) USD 3,134 USD 3,134-55.00 USD 3,191 (USD 122 ) (USD 67 ) Evergreen Marine (UK) Ltd. 160 Euston Road, London NW 12 DX, U.K. USD 1,503 USD 1,503 765 51.00 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 247 0.675 67.50 USD 416 USD 418 USD 282 Evergreen Shipping Agency (Russia) Ltd. Evergreen Office,11 Millionnaya Street, ST. Petersburg, 191186 RUSSIA USD 848 USD 848-51.00 USD 976 USD 1,886 USD 962 225

Evergreen Shipping Agency (Singapore) Pte. Ltd. 200 Cantonment Road 12-02 Southpoint, Singapore 089763 USD 2,157 USD 2,157 765 51.00 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 10110 USD 1,474 USD 1,474 408 51.00 USD 2,165 USD 1,388 USD 708 Evergreen Shipping Agency (Vietnam) Corp. 11F, Fideco Tower 81-85 Ham Nghi St., Dist. 1 Ho Chi Minh City, Vietnam USD 454 USD 454-51.00 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 973 0.459 51.00 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 5,500 55.00 USD 3,119 USD 2,417 USD 1,329 ( ) 295 ( ) USD 2,000 USD 2,000-20.00 USD 2,556 USD 841 USD 168 226

2011 Annual Report Luanta Investment (Netherlands) N.V. Waalhaven Z.z. 19, PortCity, 3089JH Rotterdam USD 33,161 USD 27,559 460 50.00 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 106,213 0.451 49.00 USD 47,366 (USD 164,908 ) (USD 80,805 ) 201 ( ) USD 1,199 USD 1,199-40.00 USD 2,257 USD 516 USD 206 114 ( ) USD 4,447 USD 4,447-40.00 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, 40150 SHAH ALAM, SELANGOR DARUL EHSAN, MALAYSIA. USD 7,255 USD 7,255 1,500 30.00 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 - - 49.00 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 13,636 0.04 100.00 USD 12,448 (USD 344 ) (USD 344 ) ( ) Armand Estate B.V. ( ) 7 25 USD 12,678 USD 12,678 41 9.76 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 9 9 90.00 USD 35,882 USD 3,828 USD 3,445 ( ) 227

Clove Holding Ltd. Island Equipment LLC. 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 144 USD 144-36.00 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 22,860 40.00 USD 72,514 USD 10,091 USD 4,036 Ample Holding Ltd. Island Equipment LLC. Whitney Equipment LLC. 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 USD 200 USD 200-100.00 USD 1,883 USD 617 USD 617 ( ) Hemlock Equipment LLC. 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 USD 200 USD 200-100.00 USD 4,271 USD 916 USD 916 Evergreen Marine (UK) Ltd. ( ) 295 ( ) USD 2,000 USD 2,000-20.00 GBP 1,350 GBP 525 GBP 105 Island Equipment LLC. 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 60 USD 60-15.00 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 3,301 8 72.95 IDR 14,929,939 IDR 8,045,989 IDR 5,869,549 ( ) 228

2011 Annual Report 2. (%) ( 1) ( 2) ( 3) 1 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. ( 4) $ 45,728 $ 45,415 $ 45,415 1.699 2 $ - $ - - $ - $ 13,070,100 $ 26,140,201 Luanta Investment (Netherlands) N.V. 483,527 546,359 437,556 1.350-4.585 2 $ - $ - - $ - 13,070,100 26,140,201 2 Clove Holding Ltd. Island Equipment LLC. 143,009 - - - 2 $ - $ - - $ - 13,070,100 26,140,201 3 Evergreen Marine (UK) Ltd. Island Equipment LLC. 59,585 - - - 2 $ - $ - - $ - 13,070,100 26,140,201 Kingtrans Intl. Logistics (Tianjin) Co., Ltd. 45,728 45,415 45,415 1.699 2 $ - $ - - $ - 13,070,100 26,140,201 1 1. 1 2. 2 2 2 3 1. 20% 65,350,502*20%=13,070,100 2. 40% 65,350,502*40%=26,140,201 4 229

3. ( 1) ( 2) (%) ( 3 4) 1 Greencompass Marine S.A. Taranto Container Terminal S.p.A. 1 $ 180,902 $ 84,020 $ 84,020 $ - 0.28% $ 74,638,695 (USD 2,775 ) (USD 2,775 ) 1 1. 0 2. 1 2 1. 2. 3. 4. 5. 6. 3 4 GMSGMS 250% 29,855,478x250% 74,638,695 230

2011 Annual Report 4. (Peony Investment S.A.) Clove Holding Ltd. 10 USD 64,025 100.00 USD 64,025 ( ) Evergreen Shipping Agency (Deutschland) GmbH - USD 8,909 100.00 USD 8,909 ( ) Evergreen Shipping Agency (Ireland) Ltd. 0.1 USD 205 100.00 USD 205 ( ) Evergreen Shipping Agency (Korea) Corporation 121 USD 1,379 100.00 USD 1,379 ( ) Evergreen Shipping Agency (Netherlands) B.V. 0.047 USD 4,966 100.00 USD 4,966 ( ) Evergreen Shipping Agency (Poland) SP.ZO.O 2 USD 551 100.00 USD 551 ( ) Greencompass Marine S.A. 3,535 USD 880,387 100.00 USD 880,387 ( ) Vigor Enterprise S.A. 5 USD 512 100.00 USD 512 ( ) Evergreen Shipping Agency (India) Pvt Ltd. 100 USD 2,859 99.99 USD 2,859 ( ) Evergreen Argentina S.A. 150 USD 64 95.00 USD 64 ( ) Evergreen Shipping Agency France S.A.S. 5 USD 1,484 100.00 USD 1,484 ( ) PT Multi Bina Pura International 68 USD 20,438 95.03 USD 20,438 ( ) PT Multi Bina Transport 2 USD 393 17.39 USD 393 ( ) Evergreen Heavy Industrial Corp. (Malaysia) Berhad 42,120 USD 45,914 84.44 USD 45,914 ( ) Armand Investment (Netherlands) N.V. 4 USD 8,734 70.00 USD 8,734 ( ) Evergreen Shipping (Spain) S.L. 3 USD 5,001 55.00 USD 5,001 ( ) Evergreen Shipping Agency (Italy) S.p.A. 0.55 USD 1,811 55.00 USD 1,811 ( ) Shenzhen Greentrans Transportation Co., Ltd.( ) - USD 3,191 55.00 USD 3,191 ( ) Evergreen Marine (UK) Ltd. 765 USD 98,097 51.00 USD 98,097 ( ) Evergreen Shipping Agency (Australia) Pty Ltd. 0.675 USD 416 67.50 USD 416 ( ) Evergreen Shipping Agency (Russia) Ltd. - USD 976 51.00 USD 976 ( ) Evergreen Shipping Agency (Singapore) Pte. Ltd. 765 USD 4,720 51.00 USD 4,720 ( ) Evergreen Shipping Agency (Thailand) Co., Ltd. 408 USD 2,165 51.00 USD 2,165 ( ) Evergreen Shipping Agency (Vietnam) Corp. - USD 1,429 51.00 USD 1,429 ( ) PT. Evergreen Shipping Agency Indonesia 0.459 USD 2,168 51.00 USD 2,168 ( ) Evergreen Agency (South Africa) (PTY) Ltd. 5,500 USD 3,119 55.00 USD 3,119 ( ) 231

(Peony Investment S.A.) Kingtrans Intl. Logistics (Tianjin) Co., Ltd.( ( ) ) - USD 2,556 20.00 USD 2,556 ( ) Luanta Investment (Netherlands) N.V. 460 USD 83,307 50.00 USD 83,307 Balsam Investment (Netherlands) N.V. 0.451 USD 47,366 49.00 USD 47,366 Evergreen Shipping Agency Co. (U.A.E.) LLC - USD 2,082 49.00 USD 2,082 Ningbo Victory Container Co., Ltd.( ) - USD 2,257 40.00 USD 2,257 Qingdao Evergreen Container Storage & Transportation Co., Ltd.( ) - USD 7,666 40.00 USD 7,666 Green Peninsula Agencies SDN. BHD. 1,500 USD 7,203 30.00 USD 7,203 Dongbu Pusan Container Terminal Co. Ltd. - 300 USD 1,556 15.00 USD 1,556 Hutchison Inland Container Depots Ltd. 0.75 USD 1,492 7.50 USD 1,492 Colombo - South Asia Gateway Terminal 18,942 USD 2,412 5.00 USD 2,412 PT. Multi Bina Pura International PT. Multi Bina Transport 8 IDR 14,929,939 72.95 ID R14,929,939 ( ) Clove Holding Ltd. Ample Holding LTD. 9 USD 35,882 90.00 USD 35,882 ( ) Island Equipment LLC. - USD 2,050 36.00 USD 2,050 ( ) Ample Holding Ltd. Colon Container Terminal S.A. Ample 22,860 USD 72,514 40.00 USD 72,514 Island Equipment LLC. Whitney Equipment LLC. Island - USD 1,883 100.00 USD 1,883 ( ) Hemlock Equipment LLC. - USD 4,271 100.00 USD 4,271 ( ) Evergreen Marine (UK) Ltd. Island Equipment LLC. - GBP 493 15.00 GBP 493 ( ) Kingtrans Intl. Logistics (Tianjin) Co., Ltd. ( ( ) ) - GBP 1,350 20.00 GBP 1,350 ( ) Evergreen Shipping Agency (UK) Limited EMU - - GBP 0.001 100.00 GBP 0.001 232

2011 Annual Report Evergreen Marine (UK) Ltd Lloyd triestino UK Limited EMU - - GBP 0.3 100.00 GBP 0.3 Armand Investment (Netherlands) N.V. Armand Estate B.V. 0.04 USD 12,448 100.00 USD 12,448 ( ) Armand Estate B.V. Armand Estate B.V. 41 USD 12,344 9.76 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 44 2.00 SGD 44 Evergreen Shipping Agency (Thailand) Co., Ltd. Green Siam Air Service Co. EGT 4 THB 1,160 2.00 THB 1,160 Evergreen Shipping Agency (Deutschland) GmbH Evergreen Shipping Agency (Austria) GmbH EGD - EUR 18 100.00 EUR 18 Zoll Pool Hafen Hamburg AG 10 EUR 10 3.36 EUR 10 Evergreen Shipping Agency (Switzerland) S.A. 0.1 EUR 69 100.00 EUR 69 ( ) 5. 6. 7. 233

8. ( ) ( ) ( ) ( ) ( ) ( ) $ 684,593 97% 30-60 $ - - $ 38,695 51% ( ) Greencompass Marine S.A. Evergreen Marine (Hong Kong) Ltd. USD 13,148 1% 15~30 - - - - USD 30,519 1% 15~30 - - - - Evergreen International S.A. USD 31,968 2% 15~30 - - - - Italia Marittima S.p.A USD 18,461 1% 15~30 - - - - Evergreen Marine (Singapore) Pte. Ltd. USD 16,437 1% 15~30 - - - - Evergreen Shipping Agency (Deutschland) GmbH USD 4,216 0% 15~30 - - - - ( ) Evergreen Shipping Agency (Netherlands) B.V. USD 3,798 0% 15~30 - - - - ( ) Evergreen Shipping Agency France S.A.S. USD 5,680 0% 15~30 - - - - ( ) USD 4,079 0% 15~30 - - - - Evergreen Marine (UK) Ltd. GBP 2,829 0% 30-60 - - 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% 5 - - USD 9 100% Evergreen Heavy Industrial Corp. (Malaysia) Berhad MYR 174,227 64% 45 - - - - ( ) Greencompass Marine S.A MYR 72,026 26% 45 - - MYR 20,126 100% ( ) Evergreen Marine (Singapore) Pte. Ltd. MYR 27,820 10% 45 - - - - ( ) 234

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

10. Evergreen Marine (UK) Ltd. 100 12 31 : 100 12 31 USD 39,700 (USD 8,260 ) USD 321 USD 60 236

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 ( ) ( ) 1. 2. 3. 3 4 $ - $ - $ 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)) 40.00 $ 6,062 (USD 206 ) 40.00 $ 36,651 (USD 1,247 ) 55.00 ($ 1,971 ) (USD -67 ) 6.85 $ - 40.00 $ 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 ) $ - - - - - - 237

( ) 100 ( ) ( ) (%) 0 ( ) ( ) 1 $ 38,695 0.03 1 2,946-1 684,593 0.63 Greencompass Marine S.A. 1 7,698 0.01 1 61-1 135,838 0.10 1-855,420 0.62 1 87,171 0.08 1 41,749 0.04 Evergreen Marine (UK) Limited 1 2,895-1 2,477-1 - 43,492 0.03 1 33,821 0.03 PT.Multi Bina Pura International 1 - - Evergreen Shipping Agency (India) Pvt. Ltd. 1 1,601-1 1-1 - 76,227 0.06 Evergreen Shipping Agency (Thailand) Co., Ltd. 1 20,732 0.02 1-9,660 0.01 PT. Evergreen Shipping Agency Indonesia 1-21,245 0.02 1 28,170 0.03 Evergreen Shipping Agency (Singapore) Pte. Ltd. 1-951 - 238

2011 Annual Report 100 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Singapore) Pte. Ltd. 1 $ 11,744 0.01 Evergreen Shipping Agency (Korea) Corporation 1 1,655-1 - 768 - Evergreen Shipping Agency (Deutschland) GmbH 1-2,421-1 9,097 0.01 Evergreen Shipping Agency (Ireland) Ltd. 1-459 - 1 645 - Evergreen Shipping Agency (Netherlands) B.V. 1 1-1 - 83,252 0.06 1 8,529 0.01 Evergreen Shipping Agency (Poland) SP.ZO.O 1-69 - 1 1-1 933 - Evergreen Shipping Agency France S.A.S. 1 - - 1-38 - 1 602 - Evergreen Shipping (Spain) S.L. 1 1,603-1 - 10 - Evergreen Shipping Agency (Italy) S.p.A. 1-12,822 0.01 1 5,312 - Evergreen Shipping Agency (Russia) Limited 1 2-239

100 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Russia) Limited 1 - $ 1,133 0.01 Evergreen Shipping Agency (Vietnam) Corp. 1 10,111-1 - 3,722 - Evergreen Shipping Agency (Australia) Pty. Ltd. 1-65 - 1 2 - 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 41,600 0.03 3-17,662 0.01 3 23,434 0.02 Evergreen Heavy Industrial Co., (Malaysia) Berhad 3 192,268 0.14 Evergreen Shipping Agency (India) Pvt. Ltd. 3-15,609 0.01 3-99 - 3 22,472 0.02 Evergreen Shipping Agency (Thailand) Co., Ltd. 3-9,263 0.01 3-24,731 0.02 3 42,826 0.04 PT. Evergreen Shipping Agency Indonesia 3 3,147-3 26,118 0.02 Evergreen Shipping Agency (Singapore) Pte. Ltd. 3-3,760-3 22,899 0.02 240

2011 Annual Report 100 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Korea) Corporation 3 - $ 31,894 0.02 3-8,796 0.01 3 36,923 0.03 Evergreen Shipping Agency (Deutschland) GmbH 3-9,142 0.01 3 9,564 0.01 3 123,928 0.11 Evergreen Shipping Agency (Ireland) Ltd. 3 7,499 0.01 3-343 - 3 6 - Evergreen Shipping Agency (Netherlands) B.V. 3 6,304-3 - 12,201 0.01 3 111,624 0.10 Evergreen Shipping Agency (Poland) SP.ZO.O 3-1,184-3 5,586 0.01 3 - - Evergreen Shipping Agency France S.A.S. 3-6,630-3 166,965 0.15 Evergreen Shipping (Spain) S.L. 3-7,628 0.01 3 44,757 0.04 Evergreen Shipping Agency (Italy) S.p.A. 3-37,895 0.03 3-13,056 0.01 3 41,580 0.04 Evergreen Shipping Agency (Vietnam) Corp. 3-6,191-241

100 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Vietnam) Corp. 3 $ 26,089 0.02 Evergreen Shipping Agency (Australia) Pty. Ltd. 3 19-3 - 3,984-3 - 598-3 5,071 - Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 3-4,518-3 - 114-3 619-2 Evergreen Marine (UK) Limited Evergreen Shipping Agency (Thailand) Co., Ltd. 3-10,498 0.01 3-20,080 0.01 3 31,377 0.03 Evergreen Shipping Agency (India) Pvt. Ltd 3 25,539 0.02 3-7,665 0.01 PT. Evergreen Shipping Agency Indonesia 3-684 - 3 33,298 0.03 Evergreen Shipping Agency (Singapore) Pte. Ltd. 3 2,157-3 - 1,855-3 12,293 0.01 Evergreen Shipping Agency (Korea) Corporation 3-505 - 3 11,617 0.01 Evergreen Shipping Agency (Deutschlan0d) GmbH 3-819 - 242

2011 Annual Report 100 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Evergreen Shipping Agency (Deutschlan0d) GmbH 3 $ 5,593 0.01 3-1,245-3 66,124 0.06 Evergreen Shipping Agency (Ireland) Ltd. 3 134-3 - 1,297-3 5,162 - Evergreen Shipping Agency (Netherlands) B.V. 3 1,966-3 - 6,592-3 94,808 0.09 Evergreen Shipping Agency (Poland) SP.ZO.O 3 82-3 - 20-3 3,787 - Evergreen Shipping Agency France S.A.S. 3-1,135-3 21,291 0.02 Evergreen Shipping Agency (Russia) Limited 3 2,505-3 2,601 - Evergreen Shipping (Spain) S.L. 3-11 - 3 19,787 0.02 Evergreen Shipping Agency (Italy) S.p.A. 3-10,725 0.01 3-953 - 3 14,396 0.01 Evergreen Shipping Agency (Vietnam) Corp. 3-1,121-3 - 4,929-243

100 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Evergreen Shipping Agency (Vietnam) Corp. 3 $ 30,706 0.03 Evergreen Shipping Agency (Australia) Pty. Ltd. 3 593-3 - 86-3 - 421 - Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 3-346 - 3 1,040 - ( ) 3 45,415 0.03 3 Peony Investment S.A. PT. Evergreen Shipping Agency Indonesia 3 24,936 0.02 Evergreen Argentina S.A. 3 8-3 425 - ( ) 3 45,505 0.03 4 PT.Multi Bina Pura International PT.Multi Bina Transport 3 410-3 454-3 280-3 6,227 0.01 3 4,387 - 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 6,239-3 13,137 0.01 3 57,620 0.05 244

2011 Annual Report 100 ( ) ( ) ( ) (%) 7 Evergreen Heavy Industrial Co., (Malaysia) Berhad ( ) 2 $ 1,652,183 1.53 Greencompass Marine S.A. 3 692,044 0.64 8 PT.Multi Bina Transport PT. Evergreen Shipping Agency Indonesia 3 4,667-1. 0 2. 1 1. 2. 3. 245

( ) 99 ( ) ( ) (%) 0 ( ) ( ) 1 $ 50,949 0.03 1 2,905-1 672,076 0.60 Greencompass Marine S.A. 1 6,736 0.02 1 25,280 0.02 1 4 0.01 1-623,468 0.17 1 414,213 0.46 1 242,542 0.22 Evergreen Marine (UK) Limited 1 2,618-1 3,655-1 612-1 - 2,750 0.11 1 35,458 0.03 PT.Multi Bina Pura International 1 2 - Evergreen Shipping Agency (India) Pvt. Ltd. 1 6,423 0.01 1-1,933 0.03 Evergreen Shipping Agency (Thailand) Co., Ltd. 1 17,884 0.01 1-10,877 0.02 PT. Evergreen Shipping Agency Indonesia 1 1-1 - 15,352 0.02 1 35,203 0.03 Evergreen Shipping Agency (Singapore) Pte. Ltd. 1-98 - 246

2011 Annual Report 99 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Singapore) Pte. Ltd. 1 $ 11,204 0.01 Evergreen Shipping Agency (Korea) Corporation 1 2,716-1 - 295 - Evergreen Shipping Agency (Deutschland) GmbH 1-1,722-1 11,490 0.01 Evergreen Shipping Agency (Ireland) Ltd. 1-256 - 1 283 - Evergreen Shipping Agency (Netherlands) B.V. 1 1-1 - 75,829-1 5,303 - Evergreen Shipping Agency (Poland) SP.ZO.O 1-755 - 1 1,827 - Evergreen Shipping Agency France S.A. 1-7 - 1 2,299 - Evergreen Shipping (Spain) S.L. 1 1,468-1 - 279 - Evergreen Shipping Agency (Italy) S.p.A. 1-4,381-1 8,227 0.01 Evergreen Shipping Agency (Russia) Limited 1 2 - Evergreen Shipping Agency (Vietnam) Corp. 1 8,102 0.01 1-22,565 - Evergreen Shipping Agency (Australia) Pty. Ltd. 1-115 - 247

99 ( ) ( ) ( ) (%) 0 ( ) Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 1 - $ 469-1 Greencompass Marine S.A. Evergreen Marine (UK) Limited 3-6,902 0.01 3 584 - Evergreen Heavy Industrial Co., (Malaysia) Berhad 3 1,429,119 1.43 3 267,046 0.01 Evergreen Shipping Agency (India) Pvt. Ltd. 3 14,129 0.01 3-1 - 3 17,949 0.02 Evergreen Shipping Agency (Thailand) Co., Ltd. 3 12,133 0.03 3-11,319 0.01 3 43,938 0.04 PT. Evergreen Shipping Agency Indonesia 3 20,799 0.02 3-18,277-3 30,904 0.03 Evergreen Shipping Agency (Singapore) Pte. Ltd. 3 18,776 0.01 3-11,846-1 Greencompass Marine S.A. Evergreen Shipping Agency (Singapore) Pte. Ltd. 3-2,301-3 18,481 0.02 Evergreen Shipping Agency (Korea) Corporation 3 57,954 0.05 3-37,784-3 31,233 0.03 248

2011 Annual Report 99 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Deutschland) GmbH 3 $ 127,193 0.10 3 10,756-3 - 3,505-3 57,151 0.04 Evergreen Shipping Agency (Ireland) Ltd. 3 8,813 0.02 3-2,064-3 - 10-3 3,830 - Evergreen Shipping Agency (Netherlands) B.V. 3 51,113 0.02 3-6,314-3 60,175 0.04 Evergreen Shipping Agency (Poland) SP.ZO.O 3 9,479 0.02 3 164-3 - 38,792-3 3,895 - Evergreen Shipping Agency France S.A. 3 70,493 0.04 3-2,900 - Evergreen Shipping (Spain) S.L. 3 55,462 0.05 3 120,141 0.10 3-94,540-3 - 8,778 - Evergreen Shipping Agency (Italy) S.p.A. 3-7,348 0.01 3-9,839-249

99 ( ) ( ) ( ) (%) 1 Greencompass Marine S.A. Evergreen Shipping Agency (Italy) S.p.A. 3 $ 61,290 0.06 Evergreen Shipping Agency (Russia) Limited 3 8,445 0.01 Evergreen Shipping Agency (Vietnam) Corp. 3 13,030 0.01 3 20,515 0.02 3-7 - Evergreen Shipping Agency (Australia) Pty. Ltd. 3 7,982-3 - 3,156-3 - 420-3 5,230 - Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 3 280-3 - 82-3 399-2 Evergreen Marine (UK) Limited Evergreen Shipping Agency (Thailand) Co., Ltd. 3-3,064 0.01 3-18,360 0.02 Evergreen Shipping Agency (Thailand) Co., Ltd. 3 45,068 0.04 Evergreen Shipping Agency (India) Pvt. Ltd. 3 23,569 0.02 3-1,458 - PT. Evergreen Shipping Agency Indonesia 3 10,505-3 - 3,957-3 42,772-250

2011 Annual Report 99 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Island Equipment LLC. 3 $ 58,254 0.05 Evergreen Shipping Agency (Singapore) Pte. Ltd. 3 3,146-3 - 841-3 13,853 0.01 Evergreen Shipping Agency (Korea) Corporation 3 16,933 0.01 3-35,809-3 - 3,519 - Evergreen Shipping Agency (Deutschland) GmbH 3 4,951 0.01 3-14,858 0.02 3 97,690 0.10 Evergreen Shipping Agency (Ireland) Ltd. 3 161-3 - 1,147-3 7,880 0.01 Evergreen Shipping Agency (Netherlands) B.V. 3 102,413 0.10 3 7,142 0.01 3-28,422-3 - 16,527 - Evergreen Shipping Agency (Poland) SP.ZO.O 3 6,068 0.01 3 1,288-3 - 5,160-3 - 1,500-251

99 ( ) ( ) ( ) (%) 2 Evergreen Marine (UK) Limited Evergreen Shipping Agency France S.A. 3 - $ 11-3 - 4,783-3 63,998 0.07 Evergreen Shipping (Spain) S.L. 3 30,775 0.03 3-13,742-3 - 26 - Evergreen Shipping Agency (Italy) S.p.A. 3-5,173-3 - 8,079-3 19,345 0.02 Evergreen Shipping Agency (Russia) Limited 3 1,449-3 - 823 - Evergreen Shipping Agency (Vietnam) Corp. 3 38,878 0.03 3-1,417 - Evergreen Shipping Agency (Australia) Pty. Ltd. 3 439 - Evergreen Shipping Agency (Australia) Pty. Ltd. 3-18 - Evergreen Shipping Agency (Sounth Africa) (PTY) Ltd. 3-400 - 3 630-3 PT.Multi Bina Pura International PT.Multi Bina Transport 3 412-3 396-3 239-3 6,273 0.01 252

2011 Annual Report 99 ( ) ( ) ( ) (%) 3 PT.Multi Bina Pura International PT.Multi Bina Transport 3 $ 4,698 - PT. Evergreen Shipping Agency Indonesia 3 980-4 Clove Holding Ltd. Island Equipment LLC. 3 139,810 0.11 5 Evergreen Shipping Agency (Deutschland) GmbH Evergreen Shipping Agency (Russia) Limited 3 3,384 0.01 3 4,569-3 53,978 0.05 6 PT.Multi Bina Transport PT. Evergreen Shipping Agency Indonesia 3 4,105-1. 0 2. 1 1. 2. 3. 253

( ) 1. 2. (1) (2) (3) ( ) ( ) 100 $ 107,373,921 $ 492,990 $ 289,147 $ 108,156,058 199,963 38,897 661 239,521 ( 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 $ 72,411,149 254

2011 Annual Report 99 $ 108,532,369 $ 558,852 $ 261,955 $ 109,353,176 204,362 14,565 1,700 220,627 ( 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 ( ) 1. 2. 3. ( ) 100 99 % % $ 41,136,771 40 $ 39,778,709 38 25,710,482 25 31,404,244 30 21,596,805 21 20,936,163 20 14,397,869 14 12,561,697 12 $ 102,841,927 100 $ 104,680,813 100 255

( ) 100 99 $ 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 1,041,555 885,761 431,395 16,378 413,050 21,991 $ 108,156,058 $ 65,158,712 $ 109,353,176 $ 53,089,732 ( ) 10% IFRSs 102 IFRSs 99 2 2 0990004943 IFRSs ( ) IFRSs IFRSs 1. 2. IFRSs 3. IFRSs 4. IFRSs 5. IFRS 1 6. 7. 8. IFRSs 9. IFRS 1 10. IFRSs 11. IFRSs 2012 12. ( ) 256

2011 Annual Report ( ) IFRSs IFRSs 102 IFRSs IFRSs 1. 100 7 7 39 2. (1) 3 (2) 3 (3) 3 ( ) 3. 41 257

4. (1) 18 23 19 ) (2) 19 (3) 19 (4) 19 5. 19 6. (1) 1 (2) 12 1 258

2011 Annual Report 100 99 % 13,655,639 9,968,985 3,686,654 36.98% 64,053,206 68,104,188 (4,050,982) -5.95% 15,007,157 11,360,775 3,646,382 32.10% 206,388 222,456 (16,068) -7.22% 92,922,390 89,656,404 3,265,986 3.64% 7,613,383 10,636,628 (3,023,245) -28.42% 21,209,534 10,457,355 10,752,179 102.82% 2,933,647 2,738,901 194,746 7.11% 31,756,564 23,832,884 7,923,680 33.25% 34,734,581 31,248,395 3,486,186 11.16% 7,480,392 7,202,990 277,402 3.85% 22,544,132 31,951,458 (9,407,326) -29.44% (3,593,279) (4,579,323) 986,044-21.53% 61,165,826 65,823,520 (4,657,694) -7.08% (1) (2) (3) (4) (5) (6) (7) 259

100 99 % 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) -58.83% 1,505,462 1,688,343 (182,881) -10.83% (775,318) 84,967 (860,285) -1012.49% 1,630,140 16,395,786 (14,765,646) -90.06% 4,001,530 615,871 3,385,659 549.74% ( ) (3,146,708) 15,864,882 (19,011,590) -119.83% ( ) (54,347) 699,431 (753,778) -107.77% ( ) (3,092,361) 15,165,451 (18,257,812) -120.39% 0 0 0 0.00% ( ) (3,092,361) 15,165,451 (18,257,812) -120.39% (1) 100 (2) (3) 100 ( ) (1) (2) (3) ( ) (1)+(2)+(3) 3,481,722 1,978,787 209,973 5,670,482 1. 99 2. 3. 260

2011 Annual Report ( ) (1) (2) (3) ( ) (1)+(2)+(3) 5,670,482 1,145,555 1,174,516 7,990,553 1.100 12 31 2. 3. ( ) 1. 99 100 101 102~104 101 103,000 20,600 41,200 41,200-102 206,000 25,750 36,050 103,000 41,200 103 309,000 5,150 25,750 30,900 247,200 104 103,000-5,150 5,150 92,700 2. 100 NTD1,465,570,850 100.01.27 502,253,600 100.07.29 492,993,000 100.10.14 470,324,250 3. 100 Evergreen Heavy Industrial Corp. (M) Bhd. (EHIC(M)) 16,300 (USD) ( ) TEU (USD) (TWD) 20 2,600 7,600 7,600 19,760,000 582,451,418 40 4,160 1,200 2,400 4,992,000 145,549,248 40 4,368 7,500 15,000 32,760,000 962,050,475 16,300 25,000 57,512,000 1,690,051,141 261

( ) 100 3,595,320 ( ) 1. 100 2. ( ) ( ) ( ) 100 ( ) ( ) ( ) 262

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

( ) 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% 99.998% 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

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

2 100 12 31 Peony Investment S.A. 82/01/04 East 53rd Street, Marbella, MMG Building, 2nd Floor,Panama,Republic of Panama USD 476,500 86/12/27 177 2 NTD 100,000 EVERPORT TERMINAL SERVICES INC. 100/4/29 1209 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 20.42 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, 81700 Pasir Gudang, Johor, Johore Bahru, Malaysia MYR 49,879 87/03/06 RMB 44,960 Evergreen Marine (UK) Limited 90/04/30 160 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 10,350,000 266

2011 Annual Report Island Equipment LLC 91/05/22 655 Deep Valley Drive, Suite 300, Rolling Hils Estates, CA USD 400 Whitney Equipment LLC 94/03/15 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 USD 200 Hemlock Equipment LLC 94/03/07 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808 USD 200 Evergreen Shipping Agency (Deutschland) GmbH 75/10/02 Evergreen Building Amsinckstrasse 55 20097 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 19 3089 JH Rotterdam EUR 24 Evergreen Shipping Agency (Poland) SP. ZO. O 86/10/03 UL. SOLEC 22, 00-410 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 400 013 INR 1,000 Evergreen Shipping Agency France S.A.S. 89/03/31 Tour Franklin-La Defense 8, 92042 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. 46023 VALENCIA, SPAIN EUR 600 Evergreen Shipping Agency (Italy) S.p.A. 94/11/09 SCALI CERERE, 9 LIVORNO ITALY EUR 2,000 267

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, 191186 RUSSIA RUB 6,000 Evergreen Shipping Agency (Singapore) Pte Ltd. 89/10/24 200 Cantonment Road 12-02 Southpoint, Singapore 089763 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 10110 THB 40,000 Evergreen Shipping Agency (Vietnam) Corp. 92/01/01 11F, Fideco Tower 81-85 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 ( ) 95/11/23 295 RMB 77,929 ( ) IDR TWD = 10.003339 CND TWD=14.791344 MYRTWD =19.553056 GBP TWD = 146.643815 EUR TWD=139.172597 KRW TWD =10.026168 INR TWD = 10.572226 ARS TWD=17.043504 AUD TWD =130.743806 RUB TWD = 10.942723 SGD TWD=123.300369 THB TWD =10.95329 VND TWD = 10.001439 ZAR TWD=13.707493 PLN TWD =18.881344 3. 4. 268

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 20,420.11 EUR 23,500 USD6,000,000 IDR 10,350,000,000 USD 1,012,943 269

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 126.97 EVERGREEN SHIPPING AGENCY (DEUTSCH- LAND) GMBH Chairman: Managing Director: EUR 61,335.03 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 600,000 270

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 100,000 271

6 100 12 31 ( ) ( )( ) 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) 100,000 337,341 177,747 159,595 702,445 8,333 8,667 1 Everport Terminal Services Inc. 3,028 10,407 7,379 3,028 0 0 0 0 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. 182 377,921 139 377,782 (10,118) (10,457) (10,456) (1,743) Armand Estate (Netherlands) B.V. 800 377,482 602 376,880 (8,878) (10,113) (10,118) (224,849) Vigor Enterprise S.A. 15,138 15,747 239 15,508 0 (491) (445) (89) Clove Holding Ltd. 303 2,425,267 486,816 1,938,451 452,966 452,405 1,538,719 153,872 Ample Holding Ltd. 303 2,195,476 988,382 1,207,093 118,642 112,525 112,525 11,253 Evergreen Heavy Industrial Corp.MalaysiaBerhad 476,494 2,172,627 526,359 1,646,268 2,633,375 224,112 168,104 3 215,419 179,032 3,370 175,661 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 726,636 673,840 22,689 651,152 124,347 109,756 104,053 1,455 PT. MULTI BINATRANSPORT 34,559 85,838 17,502 68,336 137,321 34,138 26,994 2,608 Island Equipment LLC 12,111 197,700 25,288 172,412 45,072 41,029 28,930 272

2011 Annual Report ( ) ( )( ) Whitney Equipment LLC 6,055 1,323,031 1,266,022 57,009 196,639 19,211 18,136 - Hemlock Equipment LLC 6,055 328,935 199,621 129,314 296,351 29,027 26,936 - Evergreen Shipping Agency (Deutschland) GmbH 2,403 666,312 396,577 269,735 425,497 18,933 10,962 - Evergreen Shipping Agency (Ireland) Ltd 5 10,359 4,146 6,213 25,475 798 711 7,106 Evergreen Shipping Agency (Korea) Corporation 15,858 324,616 282,877 41,739 97,128 (3,490) (2,614) (22) Evergreen Shipping Agency (Netherlands) B.V. 921 437,720 287,354 150,366 442,286 12,882 8,171 173,858 Evergreen Shipping Agency (Poland) SP. ZO. O 1,510 57,720 41,038 16,682 28,222 336 954 561 Evergreen Shipping Agency (India) Private Limited. 572 410,288 323,715 86,573 117,213 36,880 29,834 298 Evergreen Shipping Agency France S.A.S. 19,586 385,883 340,953 44,929 258,912 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. 23,504 622,660 347,341 275,319 625,670 173,284 130,576 21,763 Evergreen Shipping Agency (Italy) S.p.A. 78,345 296,928 197,251 99,678 294,432 (12,476) (16,538) (16,538) Evergreen Shipping Agency (Australia) Pty Ltd. 31 132,119 113,449 18,669 108,088 4,178 12,300 12,300 273

( ) ( )( ) Evergreen Shipping Agency 5,656 93,561 35,636 57,925 106,843 65,162 55,428 (Russia) Limited - Evergreen Shipping Agency (Singapore) Pte Ltd. 34,951 516,823 236,641 280,182 165,081 22,053 20,139 13 Evergreen Shipping Agency (Thailand) Co., Ltd. 38,132 320,270 191,771 128,499 212,771 60,571 40,790 51 Evergreen Shipping Agency 21,194 259,896 175,062 84,834 126,106 77,065 68,509 (Vietnam) Corp. - PT. Evergreen Shipping Agency Indonesia 30,051 416,201 287,500 128,700 181,385 47,912 42,663 47,404 Evergreen Agency (South Africa) (Pty) Ltd. 37,075 328,750 157,047 171,702 332,300 92,782 71,041 7 KINGTRANS INTERNATIONAL 302,765 759,277 371,814 387,463 195,016 34,644 24,716 LOGISTICS (TIANJIN) CO., LTD. - 1 2 USD NTD= 130.2765 IDR NTD= 10.003339 RMB NTD= 14.791344 MYR NTD= 19.553056 GBP NTD= 146.643815 EUR NTD= 139.172597 KRW NTD= 10.026168 INR NTD= 10.572226 1 29.3937 1 0.003355 1 4.549686 1 9.608296 1 47.112839 1 40.909812 1 0.026529 1 0.63164 ARS NTD= 17.043504 AUD NTD= 130.743806 RUB NTD= 10.942723 SGD NTD= 123.300369 THB NTD= 10.95329 VND NTD= 10.001439 ZAR NTD= 13.707493 PLN NTD= 18.881344 1 7.117636 1 30.318412 1 0.999704 1 23.38587 1 0.964363 1 0.001422 1 4.045988 1 9.904873 274

2011 Annual Report ( ) 100 100 1 1 100 12 31 1 0 1 3 2 7 275

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