013/LOI-ZIK/X-18

October 3, 2018

Attention: Mr. Andre Guo

Director
MAKO INTERNATIONAL TRD PTE. LTD.

To answer your Letter of Intent (LoI) about Nickel Ore Purchase plan, below is our answer about your
offer:

1. COMMODITY AND PLACE OF ORIGIN

1.1 Commodity : Nickel Ore
1.2 Place of Origin : Sulawesi and or Maluku, Indonesia

2. QUALITY OF NICKEL ORE

Quality of nickel ore shall be according to CCIC Indonesia and Intertek Indonesia method
analysis, and offering with details parameter as below :
Ni base on : 1.65 %
Fe : 20 % minimum
Total moisture (TM) : 33 % maximum

3. QUANTITY OF NICKEL ORE

The SELLER will provide the amount of 50,000 WMT (Fifty Thousand Wet Metric Tons)

4. BASE PRICE
Base price shall be USD 30/WMT, loading port Sulawesi and or Maluku, Indonesia.

5. PAYMENT AND STANDARD PROCEDURES

Buyer agreed to pay 90% of the total value via Telegraphic Transfer in United States Dollar at
Contract Sign Date and the balance 10% against loading port analysis report and export
documents issued, all finished at loading port.

6. DELIVERY
Delivery shall commence immediately once final contract has been signed and terms and
conditions set forth agreed by both parties.

Buyer would receive official letter of Cargo Readiness from Seller Company Name so that he
can send his vessel for loading Nickel Ore.

7. PRICE ADJUSTMENT
Basis sampling and analysis of Certificate of Sampling and Analysis issued by mutual
independent
 Surveyor “Intertek/CCIC/CARSURIN” in Indonesia at the loading port shall have the following
adjustment applications for the event of conditions as follows:

If, on dry basis, the Ni content is above 1.65%, but not to exceed 1.69%, based on the average
of Intertek Indonesia assay report at loading port, the FOB price shall be increased by USD
0.50/WMT for each 0.01% Ni is above 1.65%, fractions pro rata.

If the Nickel content is lower than 1.65%, the Buyer has the right to reject the Nickel Ore, or at
Buyer’s option the price will be friendly renegotiated between the Seller and the Buyer
according to prevailing market.

If the Nickel content is higher than 1.65%, for each 0.01% of Nickel above 1.68%, the Buyer will
pay the Seller a bonus of USD 0.50 per Wet Metric Ton, fractions pro rata.

Moisture content: If the moisture content is more than 33%, based on Intertek Indonesia
Certificate of Quality report at loading port, then the Price shall be decreased by USD 0.50 per
metric ton for each 1% of moisture content above 35%, on pro-rata.

If the moisture content is less than 33%, based on Intertek Indonesia Certificate of Quality
report at loading port, then the Price shall be increased by USD 0.50 per metric ton for each
1% of moisture content below 33%, on pro-rata.

The moisture content, based on the Intertek Indonesia assay report at the loading port, shall
not exceed the TML.

A. WEIGHTING/SURVEYING ASSYING
The cargo weight of the shipment shall be calculated to the nearest Metric Ton (MT), using
Draft Surveys and shall be determined at the loading port. The draft survey shall be conducted
by a quality independent and Licensed Marine Surveyor “Intertek/CCIC/CARSURIN”. The
Indpendent Surveyor shall provide the corresponding Certificate of Weight for the Shipment
at Loading Port. The weight so determined shall be final and binding upon Seller and Buyer for
the purpose of the Contract, and shall form the basis of settlement unless The Cost of Draft
Survey at Loading Port shall be for the account of Seller.

B. SAMPLING AND ANALYSIS

The sampling and analysis of the Nickel Ore sample for the shipment shall be conducted at
the loading port by a mutual and qualified Independent Surveyor/laboratory of Intertek/CCIC.
The Independent Surveyor herewith shall provide the corresponding Certificate of Sampling
and Analysis for the shipment at Loading Port. Such Nickel Ore quality determination at
loading port shall be final and binding upon Seller and Buyer for the purpose of the contract
and shall form the basis settlement unless adjustment is required in accordance with Master
Purchase Contract.
The Cost for sampling and analysis by the Independent Surveyor at loading port shall be for
the account of Seller.
 8. LOADING PORT
8.1 Mine Site : Piru, Seram Barat, Maluku, Indonesia
8.2 Jetty Loading Port : Piru, Seram Barat, Maluku, Indonesia
8.3 Forst Shipment :
8.4 Mother Vessel Loading :

9. LOADING RATE
The Loading rate is 6,000 MT per weather working day (WWD) of 24 consecutive hours. Sunday
and Holiday included except the main national holiday of Indonesia.

We look forward to hear from you soon and should you have any questions regarding to the content
of this letter, please do not hesitate to contact us at your convenience.

Faithfully yours,

Faity Muzakhar Machmud

Director of Mining Department
Zamrud Indonesia Kapital