November 23 2020

Re : Proposal to lease real estate property

Dear, Mr/Mrs. Hao Chin

We are pleased to send you our proposal to lease the real estate property situated in at San Vicente st.
calabanga camsur,This is for the purpose of constructing and operating a retail fuel station selling gasoline
and diesel products to motorists. We are pleased to send you our proposal with the following terms and
conditions to consider:

Area to be leased : 642sqm

Lease tenure : 15 years

Lease Rate :
Year Monthly Rental
1 40,000.00
2 40,000.00
3 46,000.00
4 46,000.00
5 52,900.00
6 52,900.00
7 60,835.00
8 60,835.00
9 69,960.25
10 69,960.25
11 80,454.29
12 80,454.29
13 92,522.43
14 92,522.43
15 106,400.80

Escalation :.
15% escalation every 2years/starting on the 3 rd year.

Advances : 3 month/s security deposit

: 3 month/s advance rental
Grace period for Permit
Acquisition and Construction : 4 months

Legal taxes : 12% EVAT shall be shouldered by the LESSEE while the 5%
withholding tax shall be deducted to the lease rates and shall be
credited to the LESSOR.

We hope you find our offer meritorious. Should you need to discuss further details regarding our proposal,
please give us a call at 0977-1440-732 or send your email to dpr@jetti.com.ph. Thank you very much and we
are looking forward for a mutually beneficial relationship with you.

For: JETTI PETROLEUM INC.

Dean Carlo Ramos CONFORME:

Network/Business Developer