To: China First Highway Engineering CO.

LTD

Addis Ababa

Subject: Making Payment Process Efficient and Effective

Dear Sir,

In our previous repetitive correspondence, attached herein, dated February 22, 2024, with
reference number BLM/034/24, and January 16, 2024, With reference BLM/033/24. We
highlighted the pressing need for the immediate release of payments due to prolonged
processing times, which have been causing significant cash flow challenges for our
organization.We are writing to bring to your attention the challenges we have been facing
with the current payment process. It is evident that the payment procedures have become
increasingly rigorous, making it difficult for us to receive timely payments even after
completing all necessary steps such as obtaining signatures from site Project Manager and all
Head Office Staffs, and Approval on the System.

Previously, payments were processed efficiently through IFH from start to finish. However,
the process has now been significantly altered. Following the completion of steps at IFH, an
additional process at the CFHEC head office, Atlas, for cheque payments has been
introduced, leading to delays of almost a month in obtaining a simple signature on a cheque.

This extended timeline for payment processing is not only cumbersome but also severely
impacting our ability to manage projects and compensate our employees promptly. As a
result, we are facing challenges in meeting our financial obligations and progressing with our
projects seamlessly.

We kindly request your assistance in streamlining the payment process to ensure timelier
disbursement of funds. Resolving these inefficiencies would greatly benefit both parties and
allow for smoother operations moving forward.

Thank you for your attention to this matter. We look forward to your prompt action in
improving the payment process.

Sincerely,

Belete Kassahun

General Manager

CC: IFH Engineering PLC