=EF=BB=BF= @font-face { font-family: "Cambria Math"; } @font-face { font-family: Calibri; } p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0cm 0cm 0.0001pt; font-si= ze: 12pt; font-family: "Times New Roman", serif; } a:link, span.MsoHyperlink { color: blue; text-decoration: underline; } a:visited, span.MsoHyperlinkFollowed { color: purple; text-decoration: under= line; } p.MsoListParagraph, li.MsoListParagraph, div.MsoListParagraph { margin: 0cm 0= cm 0.0001pt 36pt; font-size: 12pt; font-family: "Times New Roman", serif; } p.msonormal0, li.msonormal0, div.msonormal0 { margin-right: 0cm; margin-left= : 0cm; font-size: 12pt; font-family: "Times New Roman", serif; } span.EmailStyle19 { font-family: Calibri, sans-serif; color: rgb(31, 73, 125= ); } .MsoChpDefault { font-family: Calibri, sans-serif; } @page WordSection1 { size: 612pt 792pt; margin: 72pt; } div.WordSection1 { page: WordSection1; } ol { margin-bottom: 0cm; } ul { margin-bottom: 0cm; }

Dear sir,

With reference to our Lois dtd 12 &18 Oct. and pursuant to your fee= dback dtd 20 &21 oct.2023 please be advised that we= went through your reply and also kept negotiating with ou= r client and

Cons= equently, we draw your kind attention to the following:

1- &nbs= p; = Grade: Crude Oil (Pure Light)& Heavy

2- = Q= uantity: 1,000,000 Bbls. Light &1,000,000 Bbls. Heavy (=C2=B110% as oper= ational tolerance).

3- Cargo Size: Suez max f= or each grade separately and/ or preferably VLCC for both grades on 50/50 ba= sis or full cargo of Light (VLCC).

4- Deliver= y Term: FOB PG (preferably via STS in PG)

5- = ; = Destination: Any safe port in China. We shall revert with the specific port(= s) and refinery(ies) in advance and before reaching to the final agreement.<= o:p>

6- Price: ICE Brent Settlement minus 17.00 US= D per Bbl for Light & 21.00 USD per Bbl for Heavy.

7- &nbs= p; <= span style=3D"font-size:11.0pt;font-family:"Calibri",sans-serif;co= lor:#1F4E79">Pricing Period: Average of all available quotations during the m= onth M+2 after the BL (BL Month=3D0) for the first nearby contract of ICE Br= ent Settlement Index.

= 8- Discharge Period: Du= ring the month of November 2023, provided that you nominate the laycan at le= ast two weeks in advance.

9- Guarantee: Loca= l Bank Guarantee in hard currency.

10- <= !--[endif]-->Payment instrument: TT i= n seller=E2=80=99s nominated bank accounts.

11- Payment Currenc= y: USD, RMB, Emirate Dirham or any other currency to be mutually agreed.

12- = Quality & Quantity Determination: shall be based on the mo= ther vessel (before and after discharge into the receiving vessel) in case o= f STS operation or BL figure which is issued and verified/confirmed by the p= ort authority at the loading port. However, the buyer has the right to appoi= nt an independent inspector at its own cost to witness the loading operation= . However, should the volume of loss on the daughter exceed 0.2% then the av= erage of both vessels shall be taken into account for B/L figure(s) calculat= ion.

13- Payment Due Date: 90 days from B= /L date( B/L date counts as day zero).

Best regards,

Marketing Department

H.S.

&nb= sp;

From: commercial@sa= harathunder.com [mailto:commercial@saharathunder.com]
Sent: 20 Oc= tober 2023 17:30
To: commercial@ptsco-intl.com
Cc: comme= rcial@saharathunder.com
Subject: RE: LOI

Dear Sir= ,

Ref. to your email dated 12th Oct. 2023, please= note followings :

1) Heavy Crude Oil can be supp= lied

2) Final destination sh= ould be submitted such as port and refinery

3) Price formula is ICE BRENT settlement minus 20USD= per BBLS for Heavy Crude Oil

4) Pricing period is average of all available qu= otation during the month M+1 after the month of issuance of B/L (B/L month=3D= 0) for first nearly contract of ICE BRENT Settlement index.

5) Quality & Quantity all mother vessel d= ocuments are referred for quality and quantity.

Best Regards,

Commercia= l Department

Sahara Thunder

----- Original Message ---= --
From: commercial salili [mailto:commercial@ptsco-intl.com= ]
To: <commercial@saharathunder.com>
Sent: Thu, 12= Oct 2023 14:53:31 +0330
Subject: FW: LOI

Dea= r Mr. Hossein javad,

Please find the attached LOI.

Best Regards,

Marketing Department.