TS ae GRACE GLOBALPETROL GOLD AND METAL TRADING F. Cb EET ETE DATE: 04/11/ 2024 REF NO: GGPGMGT/8/2024 LETTER OF INTENT FOR EN 590 10 PPM DIESEL (LO! To: TO THE ATTENTION OF GENERAL DIRECTOR, GLOBAL Conservation Technology INC. WE THE UNDERSIGNED, GRACE GLOBAL PETROL, GOLD AND METAL TRADING FZE HERE HEREBY CONFIRM WIT THAT WE ARE READY, WILLING AND ABLE TO PURCHASE THE COMMODITY IN THE QUANTITY AND FOR T PRICE AS TO BE SPECIFIED IN THE TERMS AND CONDITIONS AND TO BE STATED IN THE SCO: COMMODITY: ONE || DIESEL EN 690 10 PPM ‘SPOT QUANTITY 100,000 METRIC TONS ‘BUYER COMPANY GRACE GLOBAL PETROL, GOLD AND METAL TRADING FZE. ORIGIN: "ANY NONE SACTIONED COUNTRY TRIAL ORDER: 100,000 METRIC TONS FOR 10 PPM AND 50.000 FOR 500 PPM X 12 TO 60 MONTHS. MONTHLY ORDER: 750,000 TONS EVERY 30 DAYS (250,000 TONS EVERY 10 DAYS) FOR 12 TO 60 MONTHS TOTAL QUANTITY: 9,000,000 TONS EVERY YEAR. DURATION OF CONTRACT: ]| ONE YEAR WITH POSSIBLE ROLL & EXTENSION. PACKING: TN A PROPER DIESEL BARREL IN VESSEL ‘PAYMENT TERMS: ‘SBLC, LC OR MT 103 BANK TO BANK SWIFT TRANSFER ‘CURRENCY OF PAYMENT || EUROIUSD AT THE SELLER OPTION, DESTINATION PORT: ‘UAE PORTS AND ANY OTHER SAFE WORLD PORT (AFRICA, ASIA AND EUROPE) TARGET PRICE ‘$480.00 TO $500.007 ‘SPECIFICATIONS ‘AS ATTACHED TO THE LOL ‘Company incorporation || SHARJAH PUBLIC CITY FZEIUAE Bank name and place HDFC BANK AND MASHREQ BANK, DUBAIIUAE TERMS OF DELIVERY TANK TO SHIP, TANK TO TANK OR VESSEL TAKE OVER (RERUTING) INSPECTION 'SGS/EQUIVALENT INSPECTION AGENCY INSURANCE: 110% DELIVER DATE: ‘WITHIN 14 DAYS TO 21 DAYS AFTER SIGING SPA. Required Documents: ‘SPA, Commercial invoice, IMO, SGS, all Shipment and inspection documents. All the terms and conditions of the proposed transaction will be stated in a formal Sale and Purchase Agreement, be negotiated, agreed and executed by the Parties. Neither party intends to otherwise be bound by any oral or wr Statements nor May correspondence concerning the Sale and Purchase Agreement arising during the course of negotiations, notwithstanding the same be expressed in terms signifying a partial, preliminary or interim agreeme between the parties. To be clear, this letter alone is not a binding or enforceable document; it is merely a confirn interest to engage in negotiation for a formal (SPA) contract agreement. |] FIMERESELASSE HELE Thay CHIEF EXECUE ene }71-553602573, +971589908815 -871521560786"BUYER TRANSACTION PROCEDURES. 1, Buyer issues LOI and seller issues a Soft Corporate Offer. 2. Buyer issue ICPO & Seller issues a 12 months Draft Sales & Purchase Agreement Contract for buyer's review & signing. 3. Seller acknowledged the signed SPA & submits the contract to the Ministry of Energy for legalization on seller expense. 4, Seller book product allocation, registers, legalizes contract with the appropriate authorities, secure a legitimate approval for product allocation in buyer's Company name & issue the below partial POP to buyer (a) Statement of Availability of Product. (b) Cert (c) Tank storage receipt (TSR), Fresh SGS not older than 48 hours and Product Passport. ste of origin, Dip test and irrevocable letter of Commitment to Supply. (d) Refinery Product Allocation letter for a minimum of 12 months and Export License. {e) Company Registration Certificate and Authorization to sell (ATS). ) Injection report and IMO. 5, Seller appoints and signs charter Party Agreement with the buyer and the Shipping Company. 6. Buyer issue a 366 days SBLC from acceptable bank to Seller bank for the value of the first shipmer 7. Seller issue by swift the full POP and 2% Performance Bond to buyer's bank. Buyer's Bank swift in return, the Irrevocable Nontransferable documentary Letter of Credit to the Seller’s Bank. 8. Shipment commences as scheduled in the contract and upon arrival of the cargo at the discharge port and after SGS/Q&Q or 9. The buyer conduct deep test and inject product to buyer's tank/vessel. 10. Buyer’s Bank releases the Total value of the shipping to Seller’s Bank within 72 banking hours (tl banking days) By MT103 and the seller transfer ownership title to the buyer, Buyer/Seller pays all intermediaries involved in transaction as per IMFPA within 72 banking hours.