Translation from Mongolian

CLIENT: CONTRACTOR:
STATE SECRETARY AT MINISTRY DIRECTOR AT “NARANBULAG
OF ROAD AND TRANSPORT KHAN” LLC
DEVELOPMENT
[Stamp] [Stamp]
/ Signature/ / Signature /
BAT-ERDENE J. Baldandorj D.

CONTRACT FOR PHASE 1 - FIRST 17 KM OF 100 KM ROAD MAINTENANCE AND

REHABILITATION EN ROUTE JARGALTKHAAN - CHINGGIS CITY PROJECT

26 April, 2017 № 115 Ulaanbaatar City

This agreement is made in accordance with the Civil Laws of Mongolia and other relevant
legislations between The Ministry of Road and Transport Development of Mongolia (The “Client”)
and Joint Venture of “Naranbulag Khan” LLC, “Anand Road” LLC (The “Contractor”) on the 26th
day of April, 2017.

One. General

1.1. In accordance with the Civil Law of Mongolia, Law on Auto Road and other
relevant legislations, the significance of this contract is to regulate the relationship between client
and contractor, and to state their respective responsibilities in connection with the construction of
engineering structures, roads and road facilities, execution of repairing and maintenance,
installation of equipment and development of road construction drawings.

1.2. The client agrees to and authorized the budget of 7 228 510 664 / seven billion
two hundred twenty-eight million five hundred ten thousand six hundred sixty-four/ tugriks for
completion of the project for “Phase 1 - first 17 km of 100 km road maintenance and
rehabilitation en route Jargaltkhaan - Chinggis city.” This contract budget will be equal to the
amount required to complete the project.

1.3. Contract total budget: 7 228 510 664.0 MNT

1.4. The contractor must start the construction work on 1 May, 2017 and complete it
by 10 October, 2017.

1.5. The following documents will be a part of this contract. This includes:
a. Authorization to sign in the contract;
b. Contract General Requirement;
c. Contract Special Requirements;
d. Mobilization and construction schedule day-to-day provided by the
contractor;
e. Performance Security;
f. Other necessary documents.
 Translation from Mongolian

1.6. This contract acts as the final agreement from both sides to complete the
construction of the project. In case of a conflict depending on the contract documents, it will be
resolved through the importance of order above.

1.7. Both Client and the contractor are liable to the requirement of the general and
special contract requirements.

1.8. The contractor shall complete the construction of the project within time in
accordance with the required works from the contract including any complaint from Defects
Notification Period.

1.9. The client is obligated to pay the contractor the amount required by the contract
budget and to consider works based Defects Notification Period.

1.10. In case of repair during the first 1 year period of maintenance, and 3 years
period of Defects Notification Period, the contractor shall pay the full amount.

Two: Other

2.1. Both the client and the contractor will be advised to resolve any conflicts through
negotiation and in a formal manner, but in case of a conflict that is not to be resolved through the
advised manner, Mongolian court will be asked to resolve the conflict.

2.2 In case of adding extension and additional cause or condition to the contract,
both sides are required to do it through Official Letters.

Sides:

FROM CLIENT SIDE: FROM CONTRACTOR SIDE:

Head of road policy implementation and General Engineer at “Naranbulag

regulating office at Ministry of Road and khan” LLC
Transport Development [Stamp]

/Signature/ Dorjkhand D. /Signature/ Arakhad G.

Head of investment, road construction for Executive Director at “Anand

planning and regulating office at Ministry Road” LLC
Of Road and Transport Development

/Signature/ Zandanbat D. /Signature/ Erdene B.

Legal specialist of State Authority office

at Ministry of Road and Transport

/Signature/ Nyamdulam Sh.