Date: June 12, 2019

PRIVATE FOREIGN CURRENCY INVESTMENT AGREEMENT VENEZUELAN BOLIVAR FUERTE (VEF) - US

DOLLAR WITH BANK CASHIER CHEQUE IN CUSTODY OF VEF RECEIVERS BANKER.

TRANSACTION/CONTRACT CODE: JECE-EC49A-DBFF-1T1B-VEF-2016.

This Agreement, for a private currency investment transaction, is entered on this day of Date: June 12, 2019 by and
between the parties/signatories hereto, for and on-behalf-of themselves, their Principals/Providers, funding Trusts,
Institutions, Partners, Associates and Assigns, as hereby named or to be named hereafter:

No changes or amendments are acceptable in this contract.

THE PARTIES:

PARTY [A]
VEF PROVIDER/CONTRACTED REPRESENTATIVE: [VENEZUELA]
COMPANY NAME: HONGDA CHEM VENEZUELA, CA
COMPANY ADDRESS: Zona Industrial Santa Rosalia, Av. 3 Norte, Local S/N, Cagua, Estado Aragua Venezuela
REPRESENTED BY: José Javier Hernandez Camacho
POSITION / TITLE: Presidente
PASSPORT NUMBER: 066679970
NATIONALITY: Venezolano
(HEREINAFTER REFERRED TO AS THE VEF PROVIDER)

PARTY [B]
USD PROVIDER’S CONTRACTED REPRESENTATIVE: [VENEZUELA]
COMPANY NAME: VENALCA
COMPANY ADDRESS: 1 SECTOR LA CRUZ DEL PASTEL VILLA ROSA NUEVA ESPARTA ZONA POSTAL 6319
REPRESENTED BY: MR F K HO
POSITION / TITLE: President of Finance
PASSPORT NUMBER: E1746632N
NATIONALITY: Singapore
(HEREINAFTER REFERRED TO AS THE USD PROVIDER)

HEREAS, in consideration of the promises and the mutual covenants, warranties, terms and conditions herein contained
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
undersigned parties agree and state that they wish to enter into this private Agreement for the investment of
VENEZUELAN BOLIVARS FUERTES (VEF) for US DOLLAR (USD) under the following terms, conditions and procedure:

A. THE VEF PROVIDER presents the legal tender VENEZUELAN BOLIVARES FUERTES (VEF) available in a Bank
Account, and, under penalty of perjury, warrants, declares and confirms that the VEF funds are totally derived
from legal sources and not from illegal activities such as drug trafficking or money laundering, not from terrorist
group or association and neither from any other criminal activity, and confirms that the funds are good, clean,
clear, of non-criminal origin, free from any liens and taxes, freely transferable and available to FOR UNITED
STATES DOLLARS (USD) and,

B. The USD PROVIDER representative presents the legal tender UNITED STATES DOLLARS (USD) available in a Bank
Account and, under penalty of perjury, warrants, declares and confirms that the UNITED STATES DOLLARS (USD)
funds are totally derived from legal sources and not from illegal activities, like drug trafficking, money laundering,
not from terrorist group or association and neither from any other criminal activity, and further confirms that the
funds are good, clean, clear, of non-criminal origin, free from any liens and taxes, freely transferable and
available for VENEZUELAN BOLIVARS FUERTES (VEF) and,
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C. The Parties confirm that their respective bank officers are fully aware of the referenced transaction, and are
ready to adhere to and proceed within the terms, conditions and procedure of this Agreement and that the
parties shall have this signed Private Currency Exchange Agreement (PFCEA) deposited with their respective
banks handling the transaction for the VEF and USD investment.

D. This currency investment transaction can be Bank-to-Bank transaction, ledger-to-ledger transaction, or physical
deposit, to be executed upon Agreement, according to the following terms, conditions and the agreed
procedure.

VEF PROVIDER’S CURRENCY: VENEZUELAN BOLIVARS FUERTES

USD PROVIDER’S CURRENCY: US DOLLAR

DESCRIPTION OF THE VENEZUELAN BOLIVAR (VEF) CURRENCY:

CURRENCY: VENEZUELAN BOLIVARS FUERTES (VEF)

ORIGIN OF CURRENCY: VENEZUELA OF NON-CRIMINAL ORIGIN
YEAR OF CURRENCY CURRENTLY VALID AND IN CIRCULATION, FREE FROM LIEN OR
ISSUE: ENCUMBRANCES AND FREELY TRADABLE WITHIN VENEZUELA
CONTRACT QUANTITY: VEF, 432,000,000.00 BOLIVAR FUERTES IN TRANCHES TO BE AGREED, WITH
POSSIBLE ROLL AND EXTENSION.
RATE OF EXCHANGE: GROSS VEF 270 TO USD 1
RATE OF EXCHANGE: NET VEF 250 TO 1 USD
TOTAL COMMISSION: GROSS VEF 20 VEF

TRANSACTION CONDITIONS:

TRANSACTION MODE: SEE TRANSACTION PROCEDURES BELOW BANK-TO-BANK

TRANCHE: FIRST TRANCHE VEF 432,000,000.00 MILLION VEF
SECOND TRANCHE VEF – --------- BILLION VEF
THIRD TRANCHE VEF – ------------ BILLION VEF
SUBSEQUENT TRANCHES TO BE AGREED BY THE PARTIES

TRANSACTION PROCEDURES:

1. USD PROVIDER provides contract for VEF provider to complete with all corporate and banking
information to be sign and return.

2. VEF PROVIDER completes, initializes, signs and submits this completed and duly signed Contract
Agreement to the USD PROVIDER with all Details and International Copy Passport, RIF, Company
Certificate, POF. This Contract Agreement automatically becomes a full commercial recourse contract.

3. After signing contract VEF PROVIDER’s Bank will issue a PAYMENT ORDER WHITH BLOCKHADE OF
FUNDS in the name of USD PROVIDER’s contracted VEF RECEIVER account in Venezuela covering the
Trial Transaction of the First Tranche. A colour copy of the PAYMENT ORDER WHITH BLOCKHADE OF
FUNDS front and back will be sent to USD PROVIDER via E-Mail with a current dated bank statement
showing activities before and after the PAYMENT ORDER WHITH BLOCKHADE OF FUNDS was issued
for verification.

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4. Within 2 banking days of receiving a copy of the PAYMENT ORDER WHITH BLOCKHADE OF FUNDS and
confirming that 100% of the agreed to Trial transaction amount First Tranche is authenticated and
verified, the VEF PROVIDER will deliver said PAYMENT ORDER WHITH BLOCKHADE OF FUNDS to the
custody of USD PROVIDER’s contracted VEF RECEIVER banker and said banker will issue a bank
confirmation letter to hold the PAYMENT ORDER WHITH BLOCKHADE OF FUNDS until the amount
contracted in USD, is paid into VEF PROVIDER’s external USD bank account Beneficiary.

5. Within 3-5 banking days of receiving and verifying the unconditional wire MT-103 received by VEF
PROVIDER’s external USD bank account Beneficiary, confirming that 100% of the agreed transaction
amount of USD for VEF has been received, the VEF PROVIDER’s banker will instruct USD PROVIDER’s
contracted VEF RECEIVER’s banker to deposit the PAYMENT ORDER WHITH BLOCKHADE OF FUNDS
into the respective bank account of the USD PROVIDER’s contracted VEF RECEIVER’s bank
coordinates, in Venezuela, as contracted, and provide a copy of the deposit Slip to VEF PROVIDER’s
banker of the deposit made.

6. Following the successful completion of the First or Trial Tranche Transaction, subsequent transactions per
the Tranches agreed to by the Parties will follow-on under the same procedural steps as is indicated above
on Daily/Weekly/Monthly basis. If rolls and extensions, they too will occur in accordance with the above
procedures. Extensions to be agreed in writing by at least five banking days before the alleged exchange.

INVESTMENT RATE: FOR THIS SPECIFIC CONTRACT, THE EXCHANGE RATE IS FIXED AT 270 VEF PER 1 USD. Failure by the
VEF AND USD PROVIDER to attain the Contracted VEF / USD supply will result in severe exchange rate penalties, for
exchange rate, being used is dependent upon the stated volume.

CODES OF IDENTIFICATION: The Parties to this Contract agree that all documents related to this transaction shall indicate
the codes as indicated herein. And, the codes shall not be changed during the term of this transaction Contract, including
all rollovers, renewals, extensions and all additions. This Contract will be identified under TRANSACTION CODE: JECE-
EC49A-DBFF-1T1B-VEF-2016.

TAXES, INSTITUTIONAL AND BANK COSTS: VEF AND USD PROVIDER accept liability of taxes, imposts, levies, duties or
institutional and bank charges that may be applicable in the execution of their respective roles of this transaction.

CONTRACT TERM OF VALIDITY: Once this Contract is signed by both parties, the transaction shall begin within 48 (FORTY-
EIGHT) international banking hours, (excluding Fridays**, Saturdays, Sundays and international bank holidays) after
notification of the USD Provider.

Should this term not be carried out, then, one of the parties is on default of Contract and the legal rights of the parties to
this Contract can be enforceable, unless both parties will reach an Agreement, that has to be in writing and signed by
both parties.

JURISDICTION AND ARBITRATION: This Agreement is a full recourse commercial commitment concluded and enforceable
under the laws and jurisdiction of the VENEZUELA, U.K. or European Union countries law as applicable, and said law shall
govern the construction, interpretation, enforceability, performance, execution, validity, arbitration and any other
matters regarding this Agreement. In addition, it is in full force and effect until completion of the transaction and it is
legally binding upon the Parties’ signatories, their heirs, successors and assigns, agents, principals, attorneys and all
associated Parties involved in this Contract transaction. Any dispute is to be resolved under the ICC rules for arbitration,
unless the aggrieved party takes legal action in a court of jurisdiction. The U.S.A., British or European Union country Law
shall be the applicable law, as the aggrieved party may choose, and shall govern the interpretation, construction,
enforceability, performance, execution, validity and any other such matters regarding this Contractual Agreement. The
Parties hereto acknowledge and agree that any discrepancy and/or dispute in application of this Agreement will be solved
amicably, but if this is not possible, the arbitration procedure is to be followed.

CONFIDENTIAL INFORMATION AND SECURITY: Both Parties acknowledge that confidential corporate, personal and
banking information has been provided to each other Party in connection with this Private Foreign Currency Exchange
Agreement hereunder, which value may be impaired if the confidentiality of such information is not maintained.

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Both Parties further agree that they will take reasonable security measures to preserve and protect such Confidential
Information and will hold such information in trust and will not disclose such information, either directly or indirectly to
any person or entity during the term of this Agreement or any time following the expiration or termination hereof.
Provided, however, that any of the Parties may have to disclose the Confidential Information to an assistant, agent or
employee who has agreed in writing to keep such Information confidential and to whom disclosure is necessary for the
providing of services under this Agreement, a signed copy of said written Agreement is to be provided to the second party
for his record.

EDT- ELECTRONIC DOCUMENT TRANSMITTAL. All facsimile / electronic transmittal /communications relating to this
transaction and which the Parties mutually accept shall be considered original and deemed legally binding and
enforceable documents for the duration of the transaction.

CONTRACT MODIFICATION: Any amendment, alteration or modification of any part of this document shall have no
validity, effect nor force unless and until it is in writing and signed by all parties' signatories to this Contract.

FORCE MAJEURE: The “FORCE MAJEURE” exception clause of the International Chamber of Commerce (ICC Publication No.
421) is hereby incorporated and made an integral part of this Agreement. A party cannot be held in default if the reason is
caused by force majeure.

COPIES OF CONTRACT: No copies of this Agreement are to be provided to third parties, bearing identical Transaction Code,
USD-P CODE and VEF-P CODE as this PFCEA, as Appendix to this PFCEA under same Transaction Code: JECE-EC49A-DBFF-
1T1B-VEF-2016.

NOTICES AND LANGUAGE: The Parties hereto agree that any notice, designation and consent between the Parties shall be
in written form, and English shall be the language for all such notices, designations, and consents and for all documents
and transaction matters bank to bank. If translation to another language, only the English copy to be the valid document.
Any change, amendment, or addition to this Agreement may be valid only by Agreement and original signature of both
Parties.

CONTRACT PROCEEDS: The parties to this Contract hereby warrant, promise and confirm that any distribution or
proceeds derived from this Contract will not be used for any illegal activity or act, military, criminal or terrorist activity.

THE PARTIES MUST FOLLOW THE QUIDELINES PROVIDED BY RULES OF THE BANKS ON THE ANTI-TERRORISM ACT AND
THE U.S.A. PATRIOT ACT II AND I. THE VEF-P AND USD-P WILL NOT RESPONSIBLE FOR ANY HARMFUL MONEY
LAUNDERING.

CONCLUSION:

BY THEIR EXECUTION BELOW, THE PARTIES AGREE TO THE GENERAL TERMS AND CONDITIONS HEREIN AND WARRANT
ONE TO THE OTHER THAT THIS IS THE ENTIRE AGREEMENT BETWEEN THE PARTIES.

SIGNATURE PAGE TO FOLLOW:

SIGNATURE PAGE

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THE TERMS OF THIS CONTRACT ARE BINDING UPON THE PARTIES AND THEIR RESPECTIVE PRINCIPALS, SUCCESSORS,
ASSIGNS, AS THE CASE MAY BE, WHEN EXECUTED BY BOTH PARTIES.

IN WITNESS WHEREOF, The undersigned have read this document and had advise of its legality and after understanding
the content of this Contract written in the English language, by knowledge of the language or by professional translation
to the party’s language and legal advice, and initialed all the pages of this Contract and, fully understand and agree that its
execution constitutes an acceptance of all of its mutually protective covenants, terms and conditions, and is lawfully
binding upon the “Parties”, and their legal heirs, successors, representatives and assignees.

BY THE VEF PROVIDER / AUTHORIZED SIGNATORY:

I, MR. José Javier Hernandez Camacho, hereby swear under the international laws of perjury and fraud that the
information provided by me herein is accurate and true and that I have read and understood the full Agreement. Signed
and sealed on the date indicated below by the signature.

Signature: _____________________________
Name: José Javier Hernandez Camacho
Passport Number: 066679970
Date of Issue: 11/01/2013
Date of Expiry: 10/01/2018
Country of Issuance: VENEZUELA
Date: JUNE 12, 2019

BY THE USD PROVIDER’S REPRESENTATIVE / AUTHORIZED SIGNATORY:

I, MR. F K HO, hereby swear under the international laws of perjury and fraud that the information provided by me herein
is accurate and true and that I have read and understood the full Agreement. Signed and sealed on the date indicated
below by the signature.

Signature: _____________________________
Name: F K HO
Passport Number: E1746632N
Date of Issue: 05/04/2015
Date of Expiry: 05/08/2025
Country of Issuance:
Date: June 12, 2019

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BANKING COORDINATES:

USD PROVIDER’S (BUYER’S) BANKING COORDINATES TO RECEIVE VEF DEPOSIT:

BANK NAME:
BANK ADDRESS:
ACCOUNT NAME:
ACCOUNT NUMBER:
CLIENT RIF:
BANK OFFICER NAME:
BANK OFFICER TELEPHONE:
BANK OFFICER EMAIL:

VEF PROVIDER’S (SELLER’S) BANKING COORDINATES TO SEND BOLIVAR’S:

BANK NAME: BANCO NACIONAL DE CREDITO
BANK ADDRESS: Calle Sucre con calle Cajigal, C.C. La Piramide, locales A-16 y A-27, PB, Cagua, Estado
Aragua, Venezuela
ACCOUNT NAME: HONGDA CHEM VENEZUELA, CA
ACCOUNT NUMBER: 0191 0088 0221 8802 6432
CLIENT RIF: J-31052799-7
BANK OFFICER NAME: Yomari Mardelli
BANK OFFICER TELEPHONE: 0244-3957250 0244-3957123
BANK OFFICER EMAIL: [email protected]

USD PROVIDER’S (BUYER’S) BANKING COORDINATES TO PAY USD:

BANK NAME:
BANK ADDRESS:
ACCOUNT NAME:
ACCOUNT NUMBER:
SWIFT / BIC CODE:
BANK OFFICER:
BANK OFFICER EMAIL:
BANK OFFICER TELEPHONE:

VEF PROVIDER’S (SELLER’S) BANKING COORDINATES TO RECEIVE USD:

COORDENADAS EXTERNAS 1: USD 1,000,000.00

BANK NAME: MULTIBANK, INC
BANK ADDRESS: VIA ESPAÑA, ED. PROSPERIDAD, Nº 127, PANAMA
SWIFT CODE:
IBAN NUMBER:
ACCOUNT NAME: HC COMMERCE, SA
ACCOUNT NUMBER: 10352106297
BANK OFFICER NAME: EL BANCO LO ASIGNA AL LLAMAR

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BANK TELEPHONE: +507 294 3500

BANK EMAIL:

COORDENADAS EXTERNAS 2: USD 600,000.00

Nombre Banco intermediario BANK OF AMERICA, NA

Dirección Banco intermediario 701 BRICKELL AV., 6° PISO
Ciudad/País MIAMI 33131, USA
SWIFT BOFAUS3M
ABA 26009593
Banco GLOBAL BANK OF COMMERCE, LTD
Ciudad/País ST. JOHNS, ANTIGUA, W.I.
SWIFT GBCLAGAG
Número de cuenta 1901071200
Nombre del cliente SHADDAI MARITIME, INC
Dirección de la empresa AV. SAMUEL LEWIS, ED. COMOSA, PISO EP., SUITE 9
Ciudad/País CIUDAD DE PANAMÁ/PANAMÁ
Número de cuenta 100-010-25
Nombre oficial bancario CARLOS BENÍTEZ
Teléfono oficial bancario +1 268 4802259
Correo corporativo oficial bancario [email protected]

CONFIRMATION OF BANKING

BY THE VEF PROVIDER / AUTHORIZED SIGNATORY:

I, MR. José Javier Hernandez Camacho, hereby swear under the international laws of perjury and fraud that the
information provided by me herein is accurate and true and that I have read and understood the full Agreement. Signed
and sealed on the date indicated below by the signature.

Signature: _____________________________
Name: José Javier Hernandez Camacho
Passport Number: 066679970
Date of Issue: 11/01/2013
Date of Expiry: 10/01/2018
Country of Issuance: VENEZUELA
Date: June 12, 2019

BY THE USD PROVIDER’S REPRESENTATIVE / AUTHORIZED SIGNATORY:

I, MR. F K HO, hereby swear under the international laws of perjury and fraud that the information provided by me herein
is accurate and true and that I have read and understood the full Agreement. Signed and sealed on the date indicated
below by the signature.

Signature: _____________________________
Name: F K HO
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Passport Number: E1746632N

Date of Issue: 05/04/2015
Date of Expiry: 05/08/2025
Country of Issuance:
Date: June 12, 2019
ANNEX “A”
PASSPORT COPY VEF PROVIDER

ANNEX “A1”
RIF CERTIFICATE

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ANNEX “B”
PASSPORT COPY USD PROVIDER

ANNEX “B1”
RIF CERTIFICATE
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ANNEX “C”

IRREVOCABLE FEE AGREEMENT / PAY ORDER TO INTERMEDIARIES IN USD

FOR THE TRANSACTION OF THE CURRENCY EXCHANGE AGREEMENT

TO BE SIGNED BY USD PROVIDER, TO THE BENEFICIARIES OF THIS FEE AGREEMENT:

VEF PROVIDER SIDE: 10 VEFS EQUIVALENT OF EACH 1 USD WITH ALL ROLLS AND EXTENSIONS,
USD PROVIDER’S SIDE: 10 VEFS EQUIVALENT OF EACH 1 USD WITH ALL ROLLS AND EXTENSIONS

I, MR. José Javier Hernandez Camacho, paying fees, irrevocably and with full legal authority, and corporate responsibility,
hereby agree and guarantee to protect, and immediately cause to pay, through the paymasters to the banking
coordinates provided by the beneficiaries, the fee amount of 20 VEF TO 1 USD per each tranche delivered of the total
contract amount to be paid and divided as agreed herein and, to be paid to each of the INTERMEDIARIES/LAWERS and
AGENTS of the PROVIDER’S SIDE involved in this transaction and, the disbursement of consulting fees and commissions
are to be made immediately upon closing of each and every transaction tranche delivered, without restrictions, imposts
or taxes imposed, or impediment, delays of any kind or nature whatsoever of all quantities / tranches Scheduled to be
delivered and paid by the PAYER/GUARANTOR of the consulting fees/commissions to the designated paymasters.
Furthermore, the delivery of these funds is guaranteed with full corporate authority and responsibility as good, clean,
clear funds of non-criminal origin.
We, the undersigned, agree that this payment is irrevocable, and unconditional, and shall be made immediately by a
freely negotiable bank draft, or cash SWIFT WIRE TRANSFER in USD per tranche transacted of principal sums. The same
property rights of introduction of sources and of business connection will be upheld and honored as per agreement.
This IMFPA binds all parties, their agents and affiliates.

A fully executed e-mail transmission or facsimile copy supplied will be considered legally binding as an original.

MANDATE AND INTERMEDIARIES OF VEF PROVIDER receives 10 VEF FOR EACH ONE USD OF TOTAL TRANSACTION WITH
ALL ROLLS AND EXTENSIONS each tranche with roll and extensions – paid by USD PROVIDER: of each and every trench
referred in the Agreement including all roll and extensions.

PAYMASTER NAME:
BANK NAME:

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BANK ADDRESS:
ACCOUNT NAME:
IBAN CODE:
SWIFT/BIC CODE:
BANK OFFICER:
SIGNATORY ACCOUNT:
BENEFICIARY:

MANDATE AND INTERMEDIARIES OF USD PROVIDER receives 10 VEF FOR EACH ONE USD OF TOTAL TRANSACTION
WITH ALL ROLLS AND EXTENSIONS each tranche with roll and extensions – paid by USD PROVIDER: of each and every
trench referred in the Agreement including all roll and extensions.

PAYMASTER NAME:
BANK NAME:
BANK ADDRESS:
ACCOUNT NAME:
ACCOUNT NUMBER:
IBAN CODE:
SWIFT CODE:
REFERENCE:
BANK OFFICER PHONE/FAX:
THE ADOVE MENTIONED BENEFICIARY RESERVES THE RIGHT TO CHANGE THE BANK COORDINATES STATED HEREIN AT ANY TIME BY
PROVIDING WRITTEN REQUEST.
CONFIRMATION OF PAYMENTS

BY THE VEF PROVIDER / AUTHORIZED SIGNATORY:

I, MR. Jose Ignacio Macia, hereby swear under the international laws of perjury and fraud that the information provided
by me herein is accurate and true and that I have read and understood the full Agreement. Signed and sealed on the date
indicated below by the signature.

Signature: _____________________________
Name: José Javier Hernandez Camacho
Passport Number: 066679970
Date of Issue: 11/01/2013
Date of Expiry: 10/01/2018
Country of Issuance: Venezuela
Date: June 12, 2019

BY THE USD PROVIDER’S REPRESENTATIVE / AUTHORIZED SIGNATORY:

I, MR. F K HO, hereby swear under the international laws of perjury and fraud that the information provided by me herein
is accurate and true and that I have read and understood the full Agreement. Signed and sealed on the date indicated
below by the signature.

Signature: _____________________________
Name: F K HO
Passport Number: E1746632N
Date of Issue: 05/04/2015
Date of Expiry: 05/08/2025
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Country of Issuance:
Date: June 12, 2019

ELECTRONIC SIGNATURE IS VALID AND LEGALLY – BINDING AS AN ORIGINAL

IF TRANSMITTED IN SECURE AND CERTIFIED *.PDF FORMAT
***** THE END DOCUMENT*****

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