TERMS AND PROCEDURES

PRODUCT OFFER

Product Diesel EN 590 10 ppm

Trial + Contract Quantity
Product Origin
SPA Delivery Terms
Price for Trial/SPA
Platts Index Code
Agency fee
Payment
100 000 MT + Up to 300 000 MT x 12 months
Kazakhstan / Azerbaijan
FOB Rotterdam
NWE FOB Platts Minus US$30/MT Net to the Buyer.
AAWZD00
Ncnda – closed, JVA buyer - open
Swift MT103

Product Jet A1 Aviation Kerosene

Trial + Contract Quantity
Product Origin
SPA Delivery Terms
Price for Trial/SPA
Platts Index Code
Agency fee
Payment
2 000 000 BBL + Up to 4 000 000 BBL x 12 months
Kazakhstan / Azerbaijan
FOB Rotterdam
NWE FOB Platts Minus US$4/BBL Net to the Buyer
PJAAV00
Ncnda – closed, JVA buyer - open
Swift MT103

PROCEDURE – FOB TANK TO TANK / TANK TO VESSEL

1. Commercial Term Sheet issued to the Buyer for their review and acceptance.

2. The Buyer signs, accepts and returns the CTS, issues an ICPO and their KYC

3. The Seller issues their KYC and Pro Forma Invoice

4. The Buyer signs and returns the Pro Forma Invoice

5. Buyer provides acceptable POF (SWIFT MT 199) as per below “MT 199 Verbiage” via
the follow process:

a) The Buyers Bank Officer will email the Sellers Bank Officer to confirm that they are ready to
send Bank-to-Bank Proof of Funds (on behalf of the Buyer).

b) The Seller’s Bank Officer responds to the Buyer’s Bank Officer and attests to Seller’s legal
right of ownership and attests that they have seen verified copies of the Seller’s Proof of Product
documentation as stated in point 5. d) below.

c) After the Buyer’s Bank Officer receives this email from the Seller’s Bank Officer, the Buyer’s
Bank Officer will send a verifiable mutually agreed Bank-to-Bank Proof of Funds.

d) The Seller’s Bank Officer, after receiving and verifying the Bank-to-Bank Proof of Funds will
email to the Buyer’s Bank Officer the following PPOP documents:

i) Commitment to supply
ii) Certificate of origin
iii) Product passport
iv) DIP Test Analysis (Fresh SGS full report, in Rotterdam 24-48 hours old)
v) Tank Storage Receipt (TSR) – Including GPS Coordinates & Tank Hub
Numbers
vi) Injection Report
vii) ATV / Authorization to verify (physical verification of TSR)
viii) ATSC (Authorization to Sell & Collect)
ix) Unconditional Dip Test Authorization (UDTA).

Important Note: Buyer Bank officer will email Seller bank officer announcing that they are ready
to send bank to bank proof of funds (MT199) on behalf of Buyer. Seller’s bank officer to respond
to Buyer’s bank officer and attest to Seller’s legal right of ownership and attest that they have seen
verified copies of the Seller’s proof of product documentation as stated in point 7.
After Buyer’s bank officer receives this email from the Seller’s bank officer, Buyer’s bank officer
will send a verifiable mutually agreed bank to bank proof of funds (MT199).
Seller’s bank officer, after receiving and verifying the bank-to-bank proof of funds, will email to
Buyer’s bank officer the PPOP documents.

6. (Optional) Buyers conducts Q&Q Analysis on product in Seller’s tanks.

7. After successful dip test, Buyer issues TSR / CPA & Q88 for Seller to verify. If the TSR
or vessel “on subs” is not immediately available within 24 hrs, the Buyer is required to
extend the Sellers tanks for the duration required until injection is completed.

8. Seller injects the fuel into Buyer’s tanks / vessel and issues a Commercial Invoice.

9. Buyer pays within 24 – 48 hours via MT103 for total amount as invoiced.

10. Seller issues Custody Transfer Certificate, relevant documents and commences
injection into Buyer’s nominated tank.

11. Seller issues SPA for Term Contract.

12. Buyers signs, returns the SPA and issues a LC Pre Advice.

13. Seller signs and schedule proceeds as per the SPA Terms of Trade.