Date: 20.07.

2023

Ref.: 2023- 348

Letter Of Intent (LOI)

To: Trans Globe Resources Inc.

Attn: Mr. Jan Goyzen

Subject: EN590

Dear Mr. Goyzen

We as Armor Grup Ins. Pet. Kim ve Tic Ltd. hereby confirm with full legal and corporate
responsibility and under penalty of perjury that we are ready, wiling and able to enter into
a contract for the purchase of the following commodity as specified below:

Commodity: EN590
Specifications: As per attached “Appendix” being an integral part of the
contract
Packaging: Bulk

Montly shipment 200.000 MT Per Month X12

Total Quantity: 2.400.000 MT

Target Price: Best Price of Seller

Terms of delivery: CIF Fujairah- UAE

Terms of Payment: DLC - SBLC

Company Name: Armor Grup İnş. Pet. Kim. Tic. LTD. Şti
Company Address: Sancak Mah. 525 Sok. No: 15/2 Çankaya- Ankara
Company Registration: 433574- ATO/Ankara
Represented By: Selman Demirkol
Title: CEO
Telephone: +90 537 610 9237
E-Mail: info@armorgroup.com.tr
Website: www. armorgroup.com.tr
CIF TRANSACTION PROCEDURE

1. Buyer issues ICPO addressed to the Seller along with

banking details, BCL and company profile.

2. Seller issue Draft Sales and Purchase Agreement SPA for mutual reviews and
endorsement, upon signatures by both Buyer & Seller, Buyer proceeds to issue Blocked
Funds via SWIFT MT799 to seller’s Bank for the first shipment.

3. Seller commences the loading and provides the Buyer with the following shipping
documents:

A. Clean on-Board Ocean Bill of Lading, One (1) Original and three (3) copies

B. Sellers Commercial Invoice, One (1) Original and three (3) copies

C. Certificate of Origin, One (1) Original and three (3) copies

D. Master’s receipt for samples

E. Master’s receipt for Documents
F. Ullage report issued at loading terminal, One (1) original copy

G. Cargo Manifest

H. Tanker Time Sheets, One (1) Original and two (2) copies

I. Original Quality and Quantity certificates plus two (2) copies as issued
at loading port by an independent surveyor company

J. Custom Clearance at the loading port, One (1) Original and two (2) copies

K. Authority to Sell (ATS)

4. Within 5 banking days upon receipt of the shipping documents, SBLC MT760 is issued
or Confirmed by a PRIME BANK in favor of the Seller. Should the Buyer’s bank fail to issue
the required SBLC MT760 within 5 banking days upon receipt of the shipping documents,
the Seller has the right to reassign the allocation to another buyer without any further
notice.

5. Upon receipt of SBLC MT760 by Seller’s bank, Seller confirms readiness of registered
vessel (ETA) for LAYCAN Birth at Buyer’s port of discharge and Buyer provides Seller the
LAYCAN / BIRTH window dates and Seller confirms it with Refinery for refinery’s (ETA)
final confirmation and notifiesthe buyer.

6. Buyer is the consignee. Seller notifies buyer of clearance for Vessel to set sail to buyer’s
nominated port. Undertaking that all the costs to CIF UAE Port waters is covered by the
Seller. Charter party, BL and ownership title will be transferred to buyer on receipt of
payment at Off-loading ports. Upon vessel arrival at off-loading port, Buyer will carry out
final SGS or equivalent 3rd party inspection for Quality and Quantity at his cost.

7. Payment with (TT) wire transfer will be within 5 days at discharge port, after
SGS/SAYBOLT inspection is issued.
8. Simultaneously upon receipt of payment the title is transferred to the Buyer.

kindly requested for the best price offer due to competition at the market. We will extend
contract period upon Seller is supply consistently to us. Please reply to us by sending your
Soft Corporate Offer (SCO) indicating your terms and conditions and transaction procedures
and especially delivery time in order for us to fulfill as above requisition accordingly.

Best Regards
Selman Demirkol
CEO