TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667

CONTRACT NUMBER: NNPC/2023-47595013

Date: 15th of February 2024

To: End Buyers,

SOFT CORPORATE OFFER

We, Nigerian National Petroleum Company Limited/ Shell Joint Venture Operators, undersigned
offer for sell at a competitive price and quality with full corporate legal responsibilities under
penalty of perjury, and hereby confirm our readiness to supply our products to the end buyers,
according to the international standard without any hitches.

We are ready to enter into a contract to sell the following commodities. All the supply is
guaranteed to pass the stringent requirements of equivalent and meet the specifications. The sales
and purchase contract would be in accordance with international standards and procedures.

SOURCE OF PRODUCT OFF OPEC NNPC EQUITY LIFTING /CARGO INFORMATION

PRODUCT NIGERIAN BONNY LIGHT CRUDE OIL
QUALITY NNPC EXPORT STANDARD
MODE CIF
LODING PORT BONNYTERMINAL, BONNY ISLAND, NIGERIA
AVAILABLE QUANTITY 120,000,000 BARRELS NIGERIAN BONNY LIGHT CRUDE OIL
ANNUALLY
LIFTING QUANTITY 2,000,000 - 10,000,000 BBLS PER MONTH
CONTRACT DURATION 12 MONTHS, WITH POSSIBLE ROLLOVER AND
EXTENSION
EXPORT PERMIT LICENCE CIP/CO/51/VOL.V/093.
BULK APPROVED NUPRC Ref NUPRC/DS/CTO/2024-2025/V.257/564 OF JANUARY 1 2024.
ACCEPTABLE BANK INSTRUMENT DLC VIA MT700 or BG or SBLC VIA MT760, 366 days or
CASH PAYMENT FOR LOGISTIC
PAYMENT BY SWIFT MT103 WIRE TRANSFER
DISCOUNT GROSS $ 14 AND NET $10 TO BUYER, $2 SELLER’ SIDE
COMMISSION CLOSED, $2 BUYER’ SIDE COMMISSION OPEN
SHIPMENT/TANKER LOAD TBA
VALIDITY 10 WORKING DAYS FROM THE DATE THE AGREEMENT IS
EXECUTED
CONTRACT VALDITY 365 DAYS FROM DATE EXECUTED
TRANSACTION CODE NNPC-BTJCO/BTAG-SZ/929404667
BG OR DLC OR SBLC NNPC
NOMINATED COMPANY AND BANK
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

NNPC AUTHORIZED MANDATE OJIMADU AND MARITES OIL MARKETING NIGERIA LTD/
SELLER UZZY GEMS BEEHIVE

PROCEDURES FOR CIF DELIVERY:

OPTION ONE:
CASH PAYMENT PROCEDURES:

A. SELLER shall issue the Sales Purchase Agreement (SPA).

SPA is Reviewed, Completed, Signed by Buyer and returned with:
- NOR/ETA Formats
- Buyer's Full CIS.
- Buyer's certificate of incorporation
- Buyer's international Passport.
- Buyer Effect cash deposit of $20,000USD in USD or RMB commitment readiness fee.
- Buyer's full details of the Receiving Port of Discharge (POD) to include full details of
harbour master, shipping agency, Inspection Company, Winter/Summer Draught, discharge port
OCIMF requirements and all necessary documents.

B. NNPC will issue and reassign below document of cargo on China water in buyer name
and NNPC will send it to the buyer email directly:
1. Commitment Letter to supply.
2. Contract Acknowledgement Letter.
3. NNPC shipping company contact details in China
4. Account Nomination Letter.
The FULL SET OF CARGO DOCUMENTS IN BUYER NAME AS CONSIGNEE.
A. ATS
B. Document Receipt
C. Ullage Report
D. Receipt for Samples
E. Authenticity
F. Certificate of Quality
G. Bill of Lading
H. Certificate of Origin
I. Cargo Manifest
J. Certificate of Quantity.
K. Q88
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

C. NNPC shall instruct Vessel Master to issue Marine Notice of Readiness (NOR) /
Marine Estimated Time of Arrival (ETA) to BUYER / BUYER’s Port of Discharge (POD) and
instruct Vessel Master to sail to BUYER’s POD while sending Marine ETA at regular intervals.

D. Buyer/Buyer’s Cargo agent upon receipt of above in Item B AND C. shall confirm
with NNPC China shipping Agent on their Readiness to assist on the shipping duties on the
cargo coming for BUYER as per cargo documents received by Buyer.

E. Buyer shall Immediately Effect Transfer of Cash Deposit of $500,000 USD OR Buyer
bank issue BG or SBLC or DLC for entire cargo cost to seller’s bank. If buyer prefer to issue
bank instrument Seller bank shall issue 2% PB Guarantee in favor of the buyer, if seller fails to supply
the cargo/shipment of the product to the buyer this 2% Performance Bond will be paid to the buyer.

F. NNPC Shipping Agent and or Buyer Cargo Agent shall proceed to make Request of
required papers to enable carry out the required Forecast/Declaration/Entry Permit by China
Customs for Buyer.

G. NNPC shall Instruct vessel Captain as per Buyer Agents request to release all
requested SHIP PAPERS AS TO BE NEEDED BY THE SHIPPING COMPANY (Such List to
be provided by the shipping company to the vessel Captain as required by the port for the entry
permit).

H. Buyer upon confirmation of the FORECAST/DECLARATION/ENTRY PERMIT

from Custom, through his agent, shall inform the captain/Seller of their ATB Format for DIP
TEST AU-THORISATION to be issued by the vessel captain.

I. Captain issues the DTA for Buyer’s team shall perform QNQ analysis on the vessel.
Inspectors release a report to both parties and buyer immediately provides the Storage Berth
Number at the port to enable the vessel prepare to sail into the buyer’s port for discharge of cargo
to buyer stor-age.

J. Vessel sails in and berths at the discharging terminal port, Buyer Agent shall instruct
captain to discharge products into Buyer’s tanks.

K. The Buyer may carry out final inspection on the storage after discharge of the product.

L. The seller issues commercial invoice to the buyer with exact Q&Q report figures,
within 72 hrs after CIQ, buyer’s bank releases full payment OF CARGO and deduct the
$500,000 USD paid deposit to seller’ s bank via MT103/TT.
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

M. Upon receipt of full payment for the cargo, the seller shall pay commission to all
intermediaries according to contract stipulated accounts of Agents/mandates/Fiduciaries within
24 hours.

N. Same process continues for other cargoes delivery monthly for one year contract and
rollover basis.

OPTION TWO:
BG OR SBLC VIA MT760 OR DLC VIA MT700 PROCEDURES FOR DELIVERY:

A. SELLER shall issue the Sales Purchase Agreement (SPA).

SPA is Reviewed, Completed, Signed by Buyer and returned with:
- NOR/ETA Formats
- Buyer's Full CIS.
- Buyer's certificate of incorporation
- Buyer's international Passport.
- Buyer sends POF or Bank RWA address to: Nigerian National Petroleum Company Limited/
Shell Joint Venture Operators.
- Buyer bank Officers business Card
- Buyer's full details of the Receiving Port of Discharge (POD) to include full details of harbour
master, shipping agency, Inspection Company, Winter/Summer Draught, discharge port OCIMF
requirements and all necessary documents.

B. NNPC shall provide:

1. Commitment Letter to supply.
2. Contract Acknowledgement Letter.
3. Account Nomination Letter and verbiages for pre-advice and MT199 or MT799 and BG or
SBLC VIA MT760 or DLC VIA MT700 Verbiages and Full CIS of Receiver to buyer.

C. - Buyer Confirms the Pre-advice Verbiage and The BG or SBLC VIA MT760 or DLC VIA
MT700 Verbiage..

- Buyers Bank within 24hrs issues Pre-advice to seller receiving bank.

(After the Swift, Buyer Account Officer must send the Swift Copy directly from his email to
NNPC Ltd and info@uzzygemsgroup.com.ng and Buyer Email).

- Seller banks within 24hrs confirms the pre-advice and responds by RWA via MT199 confirming
readiness to receive the Instrument by swift.
Seller bank officer sends the RWA swift copy by email to buyer account officer and copy
seller/buyer.

- Buyer bank within 24hrs issue by BG or SBLC VIA MT760 or DLC VIA MT700 to seller’s
bank.
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

(After the Swift, Buyer Account Officer must send the Swift Copy directly from his email to
NNPC Ltd and info@uzzygemsgroup.com.ng and Buyer Email)

- Seller Bank within 72hrs Confirms the issued BG or SBLC or DLC.

- Seller bank shall issue 2% PB Guarantee in favor of the buyer, if seller fails to supply the
cargo/shipment of the product to the buyer this 2% Performance Bond will be paid to the buyer.

D. NNPC Shall nominate vessel and release all required cargo documents and ship papers and get
vessel sail to Buyers Discharge Port.

DOCUMENTS LIST:
A. ATS
B. Document Receipt
C. Ullage Report
D. Receipt for samples
E. Authenticity
F. Certificate of Quality
G. Bill of Lading
H. Certificate of Origin
I. Cargo Manifest
J. Certificate of Quantity.
K. NNPC Shipping company contact details in China.
L. Q88
M. Cargo Certificate of Ownership/Title of Warranty.

E. NNPC Shipping Agent and or Buyer Cargo Agent shall proceed to make Request of required
papers from vessel Captain to enable carry out the required Forecast/Declaration/Entry Permit by China
Customs for Buyer’s vessel Entry to Port.

F. NNPC shall Instruct vessel Captain as per Buyer Agents request to release all requested SHIP
PAPERS AS TO BE NEEDED BY THE SHIPPING COMPANY/CARGO AGENT (Such List to be
provided by the shipping company/Cargo Agent to the vessel Captain as required by the port for the entry
permit)

G. Buyer upon confirmation of the FORECAST/DECLARATION/ENTRY PERMIT from

Custom, through his agent, shall the captain immediately sail the vessel in to the buyer port for discharge
of cargo done to buyer storage.

H. Vessel berth at the discharging terminal, Buyer Agent shall instruct captain to discharge
products in to Buyer’s tanks.

I. Buyer’s team shall perform QNQ analysis at the tanks. inspectors release report to both parties
while seller issues commercial invoice to the buyer with exact Q&Q report figures.
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

J. Within 72 hrs after CIQ, buyer’s bank releases full payment OF CARGO via MT103/TT and
commissions shall be paid out simultaneously to all Mandates and Agents.

OPTION THREE:
PROCEDURE WITH 15MILLION USD IN RMB EQUIVALENT PART PRODUCT VALUE
THROUGH CHINESE LOCAL LC IN RMB OR CHINESE BILL OF ACCEPTANCE WITH
MINIMUM DURATION OF 180 DAYS:

1. SELLER shall issue the Sales Purchase Agreement (SPA). SPA is Reviewed, Completed,
Signed by Buyer and returned with:
- ATB/NOR/ETA Formats
- Buyer's Full CIS.
- Buyer's certificate of incorporation
- Buyer's international Passport.
- Buyer sends POF or Bank RWA address to: Nigerian National Petroleum Company Limited/
Shell Joint Venture Operators.
- Buyer's full details of the Receiving Port of Discharge (POD) to include full details of harbour
master, shipping agency, Inspection Company, Winter/Summer Draught, discharge port OCIMF
requirements and all necessary documents.

2. The Sales and Purchase Agreement (SPA) is submitted to Seller. Both parties shall lodge the
executed SPA copies with their respective Banks.

2. NNPC issues:
A. Contract Confirmation Acknowledgement.
B. Commitment to Supply Letter.
C. Account Nomination Letter officially to buyer.

4. Buyer bank issue BILL OF ACCEPTANCE OF $20MILLION USD IN RMB EQUIVALENT.

5. After successful confirmation of BILL OF ACCEPTANCE, seller shall assign a Vessel already
at China Sea in BUYER’s name, and issue FULL SET OF CARGO AND SHIP DOCUMENTS IN
BUYER NAME AS CONSIGNEE.

6. SELLER shall instruct Vessel Master to issue Marine Notice of Readiness (NOR) / Marine
Estimated Time of Arrival (ETA) to BUYER / BUYER’s Port of Discharge (POD) and instruct Vessel
Master to sail to BUYER’s POD while sending Marine ETA at regular intervals.

7. Vessel shall issue Notice of Readiness (NOR) to POD and BUYER’s Shipping Agency and
copy both BUYER and SELLER. BUYER’s Shipping Agency replies and confirms readiness to receive
cargo. Vessel sends regular Estimated Time of Arrival (ETA) as it sails to POD. Upon arrival, Vessel
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

announces arrival to Port Control Towers. BUYER’s Shipping Agency pays all port levies and charges
and clears loaded Vessel into the POD Anchorage.

8. Upon clearing of Vessel at Buyer’s POD, Cargo shall be discharged into buyer's storage. Buyer
shall perform Q&Q with CIQ Operations.

9. Upon completion of Q&Q Operations and release of Q&Q Report to BUYER, SELLER and
their respective banks, SELLER shall issue a Commercial Invoice based on the Q&Q Out-turn to BUYER.
The Commercial Invoice and all relevant documents as stated in the SPA shall be presented at the
counters of the BUYER’s Bank for Final Payment.

10. Within 72 hours after CIQ, buyer’s bank releases full payment OF CARGO by MT103 TT-
Cash to SELLER’s Bank and within FIVE (5) international banking day, BUYER and SELLER shall
immediately pay all mandates and agents agreed commissions/fees via MT103 TT-Cash per signed and
agreed IMFPA.

11. Same process continues for other cargoes delivery monthly for one year contract and rollover
basis.

NNPC NOMINATED BANK DETAILS TO RECEIVE PRE-ADVICE MT199 OR MT799 AND

BG OR SBLC VIA MT 760 OR DLC VIA MT 700
BANK NAME: FIFTH THIRD BANK
BANK ADDRESS: 3017 WEST 95TH STREET, EVERGREEN, ILLINIOS, 60805 USA
BANK ACCOUNT: 7986315088
ROUTING NUMBER: 042000314
BANK ACCOUNT NAME:
SWIFT CODE: FTBCUS3CXXX
BANK OFFICER NAME: MAXWELL T. FREMPONG

NNPC BANK DETAILS TO RECEIVE CHINA BILL OF ACCEPTANCE/EXCHARGE

BENEFICIARY’S NAME: NNPC (SHANGHAI) IMPORT & EXPORT CO., LTD.
BENEFICIARY’S BANK: CHINA MINSHENG BANKING CORP. LTD. SHANGHAI BRANCH .
BENEFICIARY’S BANK ADDRESS: 996# MENGSHAN ROAD JINSHAN DISTRICT, SHANGHAI.
SWIFT BIC： MSBCCNBJ002
BENEFICIARY’S ACCOUNT NO FOR USD.CURRENCY: 636050659
BENEFICIARY’S ACCOUNT NO FOR EURO.CURRENCY: 636052003
BENEFICIARY’S ACCOUNT NO FOR RMB.CURRENCY: 636045688
BANK OFFICE 1): ZHONGHAI XIN, POSITION, RISK OFFICER
BANK OFFICER 2): YIJIAO SHI, POSITION, ACCOUNT MANAGER

NNPC BANK DETAILS TO RECEIVE PAYMENT FOR FULL CARGO VIA MT103
BENEFICIARY’S NAME: NNPC (SHANGHAI) IMPORT & EXPORT CO., LTD.
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

BENEFICIARY’S BANK: CHINA MINSHENG BANKING CORP. LTD. SHANGHAI BRANCH .

BENEFICIARY’S BANK ADDRESS: 996# MENGSHAN ROAD JINSHAN DISTRICT, SHANGHAI.
SWIFT BIC： MSBCCNBJ002
BENEFICIARY’S ACCOUNT NO FOR USD.CURRENCY: 636050659
BENEFICIARY’S ACCOUNT NO FOR EURO.CURRENCY: 636052003
BENEFICIARY’S ACCOUNT NO FOR RMB.CURRENCY: 636045688
BANK OFFICE 1): ZHONGHAI XIN, POSITION, RISK OFFICER
BANK OFFICER 2): YIJIAO SHI, POSITION, ACCOUNT MANAGER

APPENDIX A

NNPC BLCO TECHNICAL SPECIFICATIONS:

SPECIFIC GRAVITY: 0.8459

API AT 60 DEG. F: Min 33.0 - Max 37.00 +/- 5%

(ASTM D-1298)
WATER CONTENT BY 0.2% (ASTM D-4006)
DISTILLATION:

POUR POINT DEGREES F: BELOW 40 (ASTM D-97)

SULFUR WEIGHT %: 0.14 (ASTM D-139)

SALT CONTENT PARTS PER 3.0 (ASTM D-526)

BILLION:

REID VAPOR PRESSURE (P.S.I.G.): 6.52 (ASTM D-529)

KINEMATIC VISCOSITY @ 30 DEG. 2.2 (ASTM D-523)

C:

DISTILLATION INITIAL BOILING 35 DEG. C (ASTM D-86)

point (IBP):

DISTILL TO 75 DEG. C VOL.%: 7.0

DISTILL TO 175 DEG. C VOL.%: 35.5

TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667
CONTRACT NUMBER: NNPC/2023-47595013

DISTILL TO 250 DEG. C VOL.%: 51.5

DISTILL TO 300 DEG. C VOL%: 60.5

COLOUR: Dark Brown

BUYER IS TO ISSUE LOI ADDRESS TO: NIGERIAN NATIONAL PETROLEUM COMPANY

LIMITED/ SHELL JOINT VENTURE OPERATORS.
BONNY TERMINAL, BONNY ISLAND, PORT HARCOURT - RIVERS STATE, NIGERIA.

ATTN: ENGR. ABDULLAHI GADANGA DAUDA AND ENGR. ORJI UZOMA AUSTIN.
TRANSACTION CODE: NNPC-BTJCO/BTAG-SZ/929404667.

We hope for a good future business relationship with your company.

Yours faithfully,

Engr. Abdullahi Gadanga Dauda

Chief Terminal Superintendent
NNPC Ltd
Bonny Terminal.