Certificate N°: 1705510536

Page N°: 1/ 2

CERTIFICATE OF SAMPLING AND ANALYSIS

OUR REFERENCE : BO2001966/215/IV/20.03

VESSEL : MV KING COAL
PORT OF LOADING : MUARA BERAU ANCHORAGE, EAST
KALIMANTAN,INDONESIA PORT OF DISCHARGE : ANY PORT INDIA
DESCRIPTION OF GOODS : INDONESIAN STEAM COAL INBULK
QUANTITY : 49,932 TONNES
COMMENCE LOADING : 29 SEPTEMBER 2020
COMPLETED LOADING : 20 OCTOBER 2020
B/L DATE : 20 OCTOBER 2020
SAMPLING DATED : 29 SEPTEMBER UP TO 20 OCTOBER 2020
SHIPPER : PT. BAHTERA ENERGI SENTOSA
QQ. PT. BARA ENERGI NAGA
JL. AW SYAHRANI PERM. PONDOK ALAM INDAH BLOK I.3
RT. 02 KEL. SEMPAJA BARAT, KEC. SAMARUNDA UTARA
75123. KOTA SAMARINDA – KALIMANTAN TIMUR,
INDONESIA.

THIS IS TO REPORT that in accordance with instructions received from our Principal, PT. Bahtera Energi Sentosa,
we have performed sample preparation, manual sampling and analysis of the coal consignment nominated above. We
hereby report the following.

SAMPLING: MANUAL SAMPLING FROM RECLAIMING OR FORMING STOCK PILES/VESSEL HOLDS-A.

SGS, performed as per ASTM D2234 Condition II-D-2 / D6883.. Manual sampling was performed
under protocols stipulated in ASTM Standards. Due to access limitations at the sampling location,
increments were collected from freshly exposed static surface of the material, on a random time
interval basis, of unknown / random estimated mass interval, with fixed increment mass. The
samples collected have an indicative value, but cannot be deemed representative of the total Lot.
Sampling from static stock edmaterialis in herently dangerous. In crements were collected from
the safest accessible point in accordance with the Operator's rules andregulations.
ANALYSIS: Twelve (12) Sub-lots samples representing of 49,931 MT were analyzed in accordance with
ASTM standard methods.

This document is issued by the Company subject to its General Conditions of Service
(www.sgs.com/en/Terms-and-Conditions.aspx). Attention is drawn to the limitations of liability,
indemnification and jurisdictional issues established therein.This document is to be treated as an
P.T. SGS Indonesia original within the meaning of UCP 600. Any holder of this document is advised that information
Sentra Industri Terpadu, contained hereon reflects the Company’s findings at the time of its intervention only and within
the limits of client’s instructions, if any. The Company’s sole responsibility is to its Client and this
Jl. Kamal Muara VII No. 28-29 document does not exonerate parties to a transaction from exercising all their rights and
Jakarta Utara 14470 obligations under the transaction documents. Any unauthorized alteration, forgery or falsification
of the content or appearance of this document is unlawful and offenders may be prosecuted to
t : +62 (21) 56982898 the fullest extent of the law. The authenticity of this document may be verified
f : +62 (21) 56982899 athttps://sgsonsite.sgs.com/en/v2/common/ecertificate/authenticateeCertificate.jsp.
Certificate N°: 1705510536
Page N°: 2/ 2

We report the following weighted average as per Laboratory Report No. BL17-00053 dated 25 October 2020:

Total moisture (ARB) : 32.24 PCT

Inherent Moisture (ADB) : 13.44 PCT
Ash Content (ADB) : 5.29 PCT
Fixed Carbon (ADB) : 35.05 PCT by difference
Total Sulphur (ARB) : 0.17 PCT
Gross Calorific Value (ADB) : 5460 Kcal/kg
Gross Calorific Value (ARB) : 5116 Kcal/kg
Net Calorific Value (ARB) : 4198 Kcal/kg
HGI : 55
Size (0 – 50 mm) : 89.7 PCT
Volatile Matter (ADB) : 40.36 PCT

Signed and Dated, ISSUED BY PT. SGSIndonesia

31 OCTOBER 2020 AT LOADING PORT

This document is issued by the Company subject to its General Conditions of Service
(www.sgs.com/en/Terms-and-Conditions.aspx). Attention is drawn to the limitations of liability,
indemnification and jurisdictional issues established therein. This document is to be treated as
P.T. SGS Indonesia an original within the meaning of UCP 600. Any holder of this document is advised that
Sentra Industri Terpadu, information contained hereon reflects the Company’s findings at the time of its intervention only
and within the limits of client’s instructions, if any. The Company’s sole responsibility is to its
Jl. Kamal Muara VII No. 28-29 Client and this document does not exonerate parties to a transaction from exercising all their
Jakarta Utara 14470 rights and obligations under the transaction documents. Any unauthorized alteration, forgery or
falsification of the content or appearance of this document is unlawful and offenders may be
t : +62 (21) 56982898 prosecuted to the fullest extent of the law. The authenticity of this document may be verified at
f : +62 (21) 56982899 https://sgsonsite.sgs.com/en/v2/common/ecertificate/authenticateeCertificate.jsp.