Buyer:

Sales Contract No.: 22-08-002

Ares Merchants Pte. Ltd.
80 Raffles Plaza #50-01
UOB Plaza Date: June 20, 2022
048624 Singapore
Page(s) 1 of 1

SALES CONTRACT
WE HEREBY CONFIRM HAVING SOLD TO YOU THE UNDERMENTIONED COMMODITY
UNDER THE FOLLOWING TERMS AND CONDITIONS:

Type of Tolling: Virtual Crush Tolling Transaction

Commodity: Crude Coconut Oil

Quantity: Based on Oil Content Yield (See Other Terms C)

Price: USD 1,467.03/MT

Shipment Date: From September 1st to September 30th, 2022

Payment Terms: Advance Payment. Buyer to settle any variances upon presentment of
full set of documents via courier.

Other Terms: A. Stevedoring and other freight charges will be on the account of ARES
since these costs are directly related to the export commodity.

B. A Commercial Invoice will be issued as part of the export documents,

and will be under New Asia Oil, Inc. With this, all taxes related to the
transaction shall be on the account of ARES, and shall be billed
separately.

C. Oil content yield for CNO will follow the OC Percentage Yield in the
Tolling Contract (Annex G). Thus, the USD/MT of CNO will vary
depending
on the oil content yield. For purposes of this computation, we pegged
the OC Yield at 61.5% of Copra or 615.00 MT.

ARES MERCHANTS PTE. LTD. NEW ASIA OIL, INC.

Buyer Seller

Office Address: Coaco Road, Bo. Pampanga, Davao City, Philippines. Telephone No.: (63)82-234-0692
Plant Address: Km. 21 Budbud, Barangay Budbud, Bunawan, Davao City, Philippines. Telephone No.: (63) 82-236-0055
Website: www.newasiaoil.com