NOTE APPROVAL

Date: September 2, 2020

SUBJECT: REQUEST FOR APPROVAL OF SECURITY DEPOSIT FOR RMBL AND RBML
AFTER SALES SERVICE CENTRE WORKSHOP AT 345 TEJGAON I/A, DHAKA
1. RANCON Motor Bikes Ltd. (RMBL) and RANCON British Motors Ltd. (RBML) business is
growing day by day. Now it’s an operational requirement to establish a modern after sales service
facility for the clients. To that end, we have found a suitable site situated at 345 Tejgaon I/A, which
can be utilized for establishing a modern service center. It is an 11,500 sq ft property owned by
Metal Industries Pvt. Limited.

2. A mutual tenancy tri-partite agreement between RMBL, RBML and Metal Industries Pvt. Ltd
is already formulated for an initial tenancy period of 04 (Four) years. The rate of rent will be BDT
50.00 per sq ft per month and the security deposit will be BDT 34,50,000 (Taka Thirty Three Lac
Sixty Thousand Only). We have to pay 06 month rent amount (BDT 34, 50,000.00) as security
deposit at the time of signing the agreement.

3. RMBL will use 5,000 sq ft, while RBML will use 6,500 sq ft of space of the total workshop
and will pay the rent accordingly. Both SBUs will share the safety deposit, broker charge, monthly
rent, utility charges, insurance amount, VAT or any other expenditures as per the space utilization
ratio. They will also share the increased rent along with other ancillary payables after 3 (Three)
years.

4. The security deposit will be kept by Metal Industries Pvt. Ltd till such time the agreement is
in effect. Once the agreement is over, security deposit will be returned to us within 07 days. Other
relevant terms and conditions are mentioned in the tenancy agreement.

Requesting your kind approval please.

Prepared By:
Head of Administration
S M Tanvir Raihan Tanna
RANCON Automotive Division 1
Authorized/ Perused By:

Quazi Ashiq Ur Rahman CEO RMBL

Hussain Mashnoor Chowdhury Head of Business RBML

Head of HR and Admin
Md. Boni Amin
RANCON Holdings Limited
Head of Internal Audit
Md. Nazrul Kabir Chowdhury
RANCON Holdings Limited
Chief Legal Counsel
Nurul Islam
RANCON Holdings Limited
Approved By:
Divisional Director
Shawn Hakim
RANCON Automotive Division 1
Managing Director
Farhana Karim
RANCON Holdings Limited
Group Managing Director
Romo Rouf Chowdhury
RANCON