2018 NETOIL INC.

Corporate Overview

www.netoilinc.com

NETOIL INC.

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OVERVIEW Corporate Background Netoil Inc. is a diversified private group of companies operating in trade and investment ventures worldwide with particular emphasis in the energy and financial sectors. For more than five decades Netoil Inc. has been creating, structuring and implementing major international projects in the United States, Europe, the Middle East and Central Asia. Our activities have included projects in the fields of oil and gas, pipelines, petrochemicals, oil refining and distribution, mining, banking, hotels, real estate, airlines, airport, agriculture, electronics, media and communications. Netoil possesses a strong management team of top industry professionals many of which have over 50 years of experience and vast personal industry relationships. Netoil has a reputation as a company that can get the projects done quickly and efficiently. Netoil has the financial capacity to arrange favorable financing terms for the projects in which it is involved. Using its strong relationships within the financial sector including bankers, financial houses, governments and sovereign wealth funds. This is why many governments frequently invite The Netoil Group of Companies to implement various petroleum related projects in their countries. Corporate History Netoil began trading crude oil in the 1960s and quickly diversified its portfolio to include real estate properties, oil refining and distribution assets as well as developing strategic pipeline projects in the Middle East and Asia. In 1967, Netoil created the Intra Investment Company. Mr. Tamraz served as the Chairman of the Board and the Chief Executive Officers during the early years of the company and grew it into one of the major sovereign wealth investment companies in the Middle East. The major shareholders of the company are the Governments of Kuwait and Qatar. The same year, Netoil acquired Chantiers Navals de la Ciotat (CNC), the second largest shipyard in France. CNC was a pioneer in constructing oceangoing transport vessels capable of transporting liquefied natural gas. CNC also specialized in building submarines, patrol boats and other military grade vessels as well as very large crude carriers and conventional bulk cargo vessels for the civilian maritime industry. Netoil sold their interest in CNC in 2011.

Corporate Timeline 1967 Established Intra Investment Company 1967 Acquired Chantiers Navals de la Ciotat 1972 Acquired Meurice Hotel Group 1973 Financed and Constructed SUMED Pipeline Project 1973 Financed and Constructed Saudi Arabian Methanol Project 1974 Financed Transco Middle East Pipeline 1976 Acquired Bank of Commonwealth 1983 Established Tamoil Corporation 1993 Acquired development rights and equity ownership positions in Turkmenistan’s Blocks I (offshore) and III (onshore) 2002 Established Netoil Oman 2006 Baku-Ceyhan pipeline completed

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In 1972, Netoil became 100% owner of the Meurice Hotel Group in Paris, which owned the Meurice, Prince de Galles and Grand Hotels, as well as the famed Café de la Paix. At the time, the 1,000 rooms of these three hotels comprised 25% of all the luxury hotel rooms in Paris. The properties were later sold to Grand Metropolitan Hotel Corporation of London. In 1973, Netoil financed and constructed the Suez- Mediterranean (SUMED) Pipeline, as an oil bypass to the Suez Canal, which was still closed by wreckage from the 1967 Arab-Israeli War. Constructed by Bechtel Corporation, the SUMED Pipeline became operational in 1978 with capacity of 1.6 million barrels per day. With the construction of an additional pumping station in 1994 increased capacity to its current 2.5 million barrels per day. The SUMED pipeline captures 80% of oil movement share from the Arabian/Persian Gulf to Europe. In 1973, Netoil also conceived and financed the Itochu-Mitsubishi Heavy Industries chemical methanol plant project, the largest in the world, in Jubail, Saudi Arabia. Following the construction of the plant, Netoil served as a strategic consultant to Itochu’s senior management, focusing on Middle East energy operations. The methanol project included a five-year, 100 million barrel preferential crude oil supply contract for Japan that was signed with the Saudi government. In 1976, Netoil moved into United States financial markets with its acquisition of Bank of the Commonwealth, a Michigan-based bank with 50 branches. It strengthened and expanded the bank until 1983, when it was merged into the founding of Comerica, Inc., now one of the largest super-regional U.S. bank holding companies. The merger made Netoil the largest single shareholder in Comerica, which currently has assets of $62.7 billion and a market capitalization of $6.15 billion. In 1983, Netoil became active in the refining and distribution of petroleum products through the acquisition of Amoco Italia and the subsequent creation of Tamoil Corporation. Over the years, the activities of Tamoil have expanded in Europe via its 100% ownership and control of three refineries located in Switzerland, Germany and Italy. These three refineries have a total refining capacity equivalent to 255,000 barrels per day and is distributed through a network of more than 3,000 branded service stations. In the early 1990s, Netoil, through its subsidiary Oil Capital Ltd. (OCL) Inc., began negotiations to construct of the 1,100-mile Baku-Ceyhan (BTC) pipeline project. Completed in 2006, the BTC Pipeline, now moves one million barrels per day of Caspian Sea crude oil to the Mediterranean Sea and thus to world markets. Netoil negotiated and signed the original pipeline right-of-way transit agreement with the Government of Turkey. This agreement was essential to the success of the project, which was eventually completed by BP after its purchase of Amoco, with which Netoil had been cooperating in the Central Asian area. During this period, Netoil also acquired development rights and equity ownership positions in Turkmenistan’s Blocks I (offshore) and III (onshore) two of that country’s major oil and gas producing properties. (Block I was later

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farmed out to Malaysia’s Petronas.) These fields have reserves of 13 trillion cubic feet of gas and 700 million barrels of oil, with 1,400 working wells, and currently produce two billion cubic feet per day of natural gas. Tamoil Corporation In 1983, Netoil founded and built Europe’s Tamoil Corporation by purchasing and combining all of the Italian assets of Amoco (Standard Oil Company of Indiana) and of Texaco Corporation (1,000 service stations each). With 100% ownership, Netoil expanded the company to 3,000 service stations, three refineries, an extensive pipeline distribution system and a refining capacity of 255,000 barrels of oil per day. Today, Tamoil has annual sales of $20 billion and a market capitalization of $6.3 billion. The company currently operates in Germany, The Netherlands, Switzerland, Italy and Spain. Netoil LNG export project The Netoil LNG project is a series of gas treatment factories and gas delivery pipelines that has been designed to fit together as a unified system to gather very large volumes of natural gas and deliver them to international waters in the Persian Gulf for maritime shipment to China and other major energy importers in Asia. The primary source of gas is Russia, which is selling the gas production that it used to sell to Ukraine and Western Europe, but is now prevented from doing so by Western sanctions. Additional gas will come from Turkmenistan, Uzbekistan and Kazakhstan. Much of the project will involve reversal of existing gas pipelines that used to flow westward toward Ukraine. The project will also utilize some existing pipeline capacity in Iran. The eventual export hub will be situated in international waters in the Persian Gulf, more than 12 miles off Chabahar, an Iranian port on its south-eastern coast. The offshore hub in international waters is called (i.e., labelled) Roger's Hub 1.

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Much of the gas is available because of the inability to sell westward, to and through Ukraine. There is in addition a prevailing sentiment that most future expansion of energy (and therefore LNG) demand lies Eastward, in Asia. Netoil pipes the gas to the Iran seacoast, where is continues an additional 12 to 20 miles offshore to international waters via subsea pipelines to a seaborne cluster of Netoil's factory ships moored there permanently. These ships convert the pipeline gas (in gaseous form) to a super-cooled liquid LNG for shipment to Asia, as described below. 1. 45 billion cubic meters of pipeline gas will be delivered to Netoil for 25 years through a 56-inch pipeline at Chabahar Port on the coast of southern Iran. This will produce 30 million tons per year of LNG. 2. At Chabahar Port, Netoil will take delivery of the gas at the seacoast and will deliver it via subsea pipeline to different destinations to its fleet of moored FLNG ships (called Roger’s Hub) in international waters fifteen miles south of Chabahar, where they will be converted to LNG and exported to China, as follows: A. 60 BCM/Y will be delivered to a fleet of moored FLNG ships (called Roger’s Hub 1, or RH-1) in international waters fifteen miles south of Chabahar, where they will be converted to LNG and exported to China. B. 14 BCM/Y will be delivered via a longer pipeline to a second hub (called Roger’s Hub 2, or RH-2) of FLNG ships moored in international waters fifteen miles east of Fujairah, UAE, from where it will be partly delivered as pipeline gas to the UAE via a subsea line (if purchased by them), or will be converted by FLNGs to additional LNG for export to China.

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Management Team Roger Tamraz Roger Tamraz is an international banker and venture capital investor who has had an active international business career since the 1960s. He attended the American University in Cairo, a PhD program at Cambridge University, and INSEAD. He concluded his education by earning an MBA degree from Harvard Business School. He served for years as the chairman and chief executive officer of Intra Investment Company, one of the major sovereign wealth investment companies in the Middle East. He was also the chairman of Bank of the Commonwealth in the United States. He was also the vice-chairman of Middle East Airlines (MEA), Lebanon’s national flag carrier. Book on Roger Tamraz and the Intra Bank: http://www.netoilinc.com/enterprises/wp-content/uploads/2018/02/Kamal-Dib-Book-about-Roger-Tamraz-Intra-Bank-Intra-Investment-Company.png Photos: http://netoilinc.com/enterprises/?page_id=53 Articles: http://netoilinc.com/Netoil/articles.htm Articles en français: http://www.netoilinc.com/Netoil/articlesfrench.htm New York Times: http://query.nytimes.com/search/sitesearch/#/%22roger+tamraz%22 Books 1: http://netoilinc.com/Netoil/publications1.htm Books 2: http://netoilinc.com/Netoil/publications2.htm Books 3: http://netoilinc.com/Netoil/publications3.htm Videos: http://www.youtube.com/netoiltamoil Roger Tamraz Cover Arabian Business (in Arabic) March 2017: http://www.netoilgroup.com/ArabianBusinessMarch2017inArabic.pdf Roger Tamraz Arabian Business Article (in English) March 2017: http://www.netoilgroup.com/ArabianBusinessMarch2017inEnglish.pdf Speech during the dinner hosted by China Energy Fund Committee (CEFC) on the 1st of July, 2016 in Beijing, China: 1st part: https://youtu.be/PQW9D30Af6Y Speech during the dinner hosted by China Energy Fund Committee (CEFC) on the 1st of July, 2016 in Beijing, China: 2nd part: https://youtu.be/-KHfy4_--84 Article published in China: http://www.netoilgroup.com/articlepublishedinchina.pdf President of the Republic: http://netoilinc.com/enterprises/?page_id=85 Governor of the Central Bank: http://netoilinc.com/enterprises/?page_id=88 February 1, 2018, Roger Tamraz appointed Chairman of Stockholm IT Ventures AB, a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company focuses on clean and efficient low-cost energy cryptocurrency mining and production, and in blockchain related technology. All mining activities use clean and sustainable energy from hydro power stations in Northern Europe, requiring up to 80% less energy compared to ordinary mining for Bitcoin. The Stockholm IT Ventures stock represents a green investment in cryptocurrency technology: http://stockholmit.co/stockholm-ventures-ab-stockholm-ventures-appoints-new-chairman-board-members-egm/

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Matthew Steckel Matthew Steckel is an international investor and experienced corporate manager (in upstream and downstream oil and gas, banking and finance, and computerized design engineering for the oil and gas industry) who has had an active business career in the Middle East, Europe, Asia and the United States since the 1960s. He attended the London School of Economics and then Harvard Business School, where he earned his MBA. He has been Chairman of the Board of Directors of a Swiss Bank operating in Geneva and Lugano. He is the Chairman of PetroDesigns. He was the founding Amministratore delegato (Ad), Chairman and Chief Executive Officer (CEO) of Tamoil. He was also the Chief Executive Officer of Bank of the Commonwealth. Since February 1, 2018, he is a Board Member of Stockholm IT Ventures AB, a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company focuses on clean and efficient low-cost energy cryptocurrency mining and production, and in blockchain related technology. All mining activities use clean and sustainable energy from hydro power stations in Northern Europe, requiring up to 80% less energy compared to ordinary mining for Bitcoin. The Stockholm IT Ventures stock represents a green investment in cryptocurrency technology. Tahereh Amirzadeh She holds, from University of Liverpool Management School (ULMS), a Master of Science (M.Sc.) in International Management – Oil & Gas specialisation track; from ESSEC Business School, an Advanced Master (MS) in Strategy & Management of International Business (SMIB); from École Polytechnique (L’X) and ESSEC Business School, an Advanced Master (MS) in Leading International Industrial Projects (LIIP); and from École Polytechnique (L’X) – World number 4 in the 2013 Times Higher Education (THE) Alma Mater Index: Global Executives 2013 top 100 – an Executive Master in Development, Technology, Management and Innovation, in partnership with UC Berkeley ITS for Transportation Sector and Silicon Valley Ecosystem and with TUM (Technical University of Munich (TUM). She also has a certificate of Liquefied Natural Gas (LNG) from Institut Français du Pétrole (IFP School, former ENSPM – École nationale supérieure du pétrole et des moteurs, a member of IFP Énergies nouvelles). Before starting an active business career, she was Vice President for Marketing and Business Development in Middle East at Swiss Forfait, a private company specialized in trade finance and forfaiting worldwide, working with commercial insurance companies providing credit insurance and state-owned insurance companies – ECAs (Export Credit Agencies). Extensive experience in policy, strategy, and business development. Skilled at top-level negotiation, management, engineering, finance, trade finance and forfaiting. Leads international industrial projects. Knowledge of emerging markets.

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A Netoil/PetroDesigns client list: Client Project Locations Shell Onshore & Offshore USA, Offshore Africa BP Onshore & Offshore USA British Gas Offshore Tunisia Chevron Texaco Onshore & Offshore USA, Offshore Africa Petrobras Offshore Brazil ConocoPhillips Onshore & Offshore USA ExxonMobil USA, Offshore Malaysia, Offshore Africa Warren Petroleum Onshore USA Gulf South Pipeline Onshore USA Southern California Gas Company Onshore USA Sempra Energy Onshore USA Plains All America Pipeline Onshore USA Schlumberger Onshore USA, Offshore Nigeria Oceaneering Offshore Africa Ensearch Offshore USA Al Furat Petroleum Company Syria StatOil North Sea Chiles Offshore Offshore Brazil Reading & Bates Offshore USA PT Medco E&P Indonesia Onshore Indonesia Iraq State Company for Projects (SCOP) Iraq (Near Kirkuk) Bluewater Gas Storage Onshore USA Kerr McGee Offshore USA Coastal Oil & Gas Offshore USA Total (Elf Aquitaine) Offshore USA POGO Producing Offshore USA Astus Enginering, Ltd. Nigeria Premier Industries, Inc. Onshore USA, Nigeria