Physalia Services

We express our interest in the sale of type B colombian thermal coal. We are prepared to start negotiations as soon as possible, based on the following proposal: PRODUCT: Type B thermal carbon QUANTITY: 60,000 MT 45 days ORIGIN: Cucuta (Colombia) FOB DESTINATION: Puerto Nuevo PRICE: Negotiable INSPECTION:SGS HEATING POWER: 10,000 - 12,600 BTU with technical data sheets DELIVERIES:Daily CONTRACT DURATION: 1 year renewable METHOD OF PAYMENT: FOB - MT 760 - SBLC

Available Colombian Thermal Coal Offered for Sale Effective 6/10/2022 # RESOURCE BTU PORT TYPE TONNAGE/MO. PRICE SULFUR ASH MOISTURE 1 RB-1 (F) 10,400 Bolivar/Brisas Thermal B 100K MT (3 Yrs) $MT 0.65% 9.2% 8.8% 2 RB-1 (F) 10,800 Bolivar/Brisas Thermal B 40K MT (Spot) MT 0.78% 5.5% 7.7% 3 RB-1 (F) 12,400 Bolivar/Brisas Thermal A 100K MT (3 Yrs) MT 0.67% 4.5% 5.9% 4 RB-1 (F) 12,661 Bolivar/Brisas Thermal A 100K MT (3 Yrs) MT 0.89% 6.7% 3.8% 5 RB-1 (F) 12,675 Bolivar/Brisas Thermal A 100K MT (3 Yrs) MT 0.41% 1.8% 7.1% 6 RB-2 (T) 13,200 Bolivar Thermal A 180K MT (3 Yrs) MT 0.94% 3.3% 10.6% All Thermal Coal Listed Above Subject to Prior Sale This is our most recent distribution sheet outlining available thermal coal we have directly ex. Colombia, SA. These long-term and spot allocations are structured through our established production network. We can deliver product to the vessel less expensively than in the US due to lower labor cost and excessive US logistics charges. (Rail/Barge)

We inform our real intention to sell and deliver Type A Thermal Coal Ore, following international procedures under the following Terms and Conditions: Product: THERMAL COAL TYPE A Origin: Colombian Minimum Quantity: 30,000 Tons in 45 days (+/-) Full Contract: 12 months extendable, at the end of each period and increase in quantity if the parties so Price: Negotiable Port Delivery: FOB â?? Available Port â?? Lycan 45 days after firm contract Port of Destination: Any port Quality of product: Type A 7200-7400 Ptu/Kg Ptu/lb14400-14800 Ash: less 10% Sulfur: less 1.00% Volatile: Between 38.6-40.5%. Inspection: Inspection of quantity and quality by a certified laboratory for export: (SGS) or similar at the port of loading, on the ship loaded at the buyer's expense.