Page 15 - 2020 CORPORATE PROFILE FUELQO ENERGIA LIMITED

Strictly Private & Confidential

Specifications are: API 36.77°, conversion rate 7.31, Sulphur 0.12 mass %, Pour point 20 °C, TAN 0.05
mg KOH/g, Nickel 10.0 wppm, Vanadium 1.2 wppm, Visc. (40°C) 29 cSt.

Algerian Crude

Algeria's national oil and gas company, Sonatrach, dominates the country's hydrocarbon sector,
owning roughly 80 percent of all hydrocarbon production. By law, Sonatrach is given majority
ownership of oil and gas projects in Algeria.

Algeria had 12.2 billion barrels of proven oil reserves, as of January 1, 2013. All the proven oil reserves
are held onshore, since there has been limited offshore exploration. The country produced 1.87 million
bbl/d of total petroleum liquids in 2012 which includes crude oil, condensate, natural gas liquids, and
refinery processing gain. The three largest oil fields, Hassi Messaoud, Ourhoud, and Hassi Berkine,
contribute to about half of total crude oil production, which averaged 1.25 million bbl/d in 2012.

The clear majority of Algerian crude oil exports, roughly 85 percent, are sent to Europe and North
America. The United States is the single largest destination; however, U.S. imports of Algerian crude
oil have substantially declined over the last five years.

Russian Export Blend Crude Oil (REBCO)

Russia is the world's second largest producer of crude oil and also one of the world's top oil exporters.
Russian export blend crude oil (REBCO) is medium gravity sour crude that accounts for exports of
approximately 4 million barrels per day into the Atlantic Basin or to other nearby refining markets.

The New York Mercantile Exchange, Inc., the world’s largest energy marketplace, has developed a
proposed REBCO futures contract in collaboration with Expertica Ltd. The expected benefits of a
REBCO futures contract are continuous price discovery, market transparency, and financial protection
against the risk of counterparty default. The contract will trade in lots of 1,000 barrels and will provide
for physical delivery at the Baltic

Sea port of Primorsk which operates year-round. The contract will also provide a dependable pricing
basis for crude shipped via pipeline or from other ports of export. The contract will trade electronically
on the CME Globex electronic trading system, the electronic trading platform for the New York
Mercantile Exchange.

Saudi Light Crude Oil (SLCO)

Saudi Arabia contains 261.9 billion barrels of proven oil reserves (including 2.5 billion barrels in the
Saudi-Kuwaiti Divided, aka "Neutral" Zone), around one-fourth of proven, conventional world oil
reserves. Around two-thirds of Saudi reserves are considered "light" or "extra light" grades of oil, with
the rest either "medium" or "heavy."

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