A Global Business

Strategic alignment would secure critical feedstock, product offtake, and sustainability value as Genesis Fertilizers advances toward a low-carbon production future in Western Canada

SASKATOON – Genesis Fertilizers is pleased to announce the signing of a commercial Letter of Intent (LOI) with Gunvor USA LLC, one of the world’s largest independent commodities trading houses, to jointly pursue three key agreements for Genesis Fertilizers’ proposed nitrogen fertilizer production facility at Belle Plaine, SK (the Facility): a natural gas supply agreement, a diesel exhaust fluid (DEF) offtake agreement, and a carbon credits offtake agreement. This collaboration further advances Genesis Fertilizers’ commitment to building a modern, low-carbon fertilizer facility that provides value across the supply chain—from global traders to Western Canadian farmers.

The three agreements currently in discussion to be finalized are intended to govern long-term strategic collaboration, including natural gas supply to the Facility, full offtake of the Facility’s DEF product to Gunvor, and Gunvor’s purchase of up to 100% of carbon credits generated through the Facility’s carbon capture and sequestration technologies.

“This is a defining step in securing critical commercial components for the Genesis Fertilizers project,” said Derek Penner, President and CEO of Genesis Fertilizers. “Gunvor brings exceptional market insight and global scale, and their participation is a strong validation of our integrated, sustainability-driven model.”

Key Elements of the Proposed Agreements:

Natural Gas Supply Agreement:

• Secures natural gas feedstock from Gunvor for the Facility, enabling year-round production at scale.
• Encompasses approximately 23 million GJ per year from 2029, creating incremental demand for Canada natural resources and displacing imports.
• Ensures flexible, firm delivery supported by long-term transport arrangements.

Diesel Exhaust Fluid (DEF) Offtake Agreement:

• Gunvor to purchase 100% of the DEF volume produced by the Genesis facility annually (approx. 215,000 MT).
• DEF will be produced to international purity standards and delivered FOB via rail.

Carbon Credit Offtake Agreement:

• Gunvor to purchase up to 100% of carbon credits generated from Genesis’s carbon capture and sequestration process.
• Represents approximately 682,000 MT per year of CO₂ credits.
• Designed to align with emerging regulatory regime and carbon markets.

Gunvor highlighted the alignment in values, stating: “Genesis Fertilizers represents the future of sustainable agri-input production. Our team is excited to collaborate on this transformational project and bring forward a supply chain anchored in reliability, transparency, and emissions reduction.”

Enabling a Sustainable Ag Future

The Belle Plaine facility is being designed as one of the most modern and sustainable nitrogen fertilizer production sites in North America. Featuring an integrated carbon capture system and built to optimize product and energy efficiency, the project is expected to play a key role in supporting Canadian agriculture’s low-emission future.

The Letter of Intent signed with Gunvor is a critical milestone as Genesis Fertilizers moves toward Final Investment Decision (FID), targeted in early 2026.

About Genesis Fertilizers
Genesis Fertilizers is proposing to finance, design and construct a new, highly efficient nitrogen fertilizer production and distribution system that serves today’s modern farmer. This will be comprised of a central production facility constructed near low-cost raw materials serving a Western Canadian network of strategically located farmer-centric distribution centres. Genesis Fertilizers’ is a privately held limited partnership, and its securities do not trade on any exchange.

SINGAPORE — AMIGO LNG S.A. de C.V. (“AMIGO LNG”), the Mexican joint venture of Texas-based Epcilon LNG LLC and Singapore-based LNG Alliance, today announced the signing of a definitive Long-Term Sale and Purchase Agreement (SPA) with Gunvor Singapore Pte Ltd (“Gunvor”), one of the world’s leading independent commodity trading houses.

Under the agreement, Gunvor will purchase 0.85 million tonnes per annum (MTPA) of LNG for 20 years, with deliveries commencing upon the start of commercial operations of AMIGO LNG’s first liquefaction train, scheduled for latter half of 2028.

This long-term commitment marks a major milestone for AMIGO LNG, reinforcing its position as Mexico’s first large-scale LNG export terminal on the west coast of Americas. The Guaymas-based facility will leverage its strategic location and proximity to the prolific U.S. Permian Basin to deliver competitive LNG supplies to customers in Asia and Latin America.

“Gunvor is committed to securing long-term LNG supplies to meet the evolving energy needs of our customers worldwide. Partnering with AMIGO LNG aligns with our strategy of diversifying supply sources and supporting the global transition toward cleaner energy,” said Kalpesh Patel, Co-Head of LNG Trading of Gunvor.

“We are delighted to welcome Gunvor as one of our key foundation offtakers. This agreement underscores the confidence global energy players place in AMIGO LNG’s ability to deliver reliable, flexible, and competitive LNG to international markets,” said Dr. Muthu Chezhian, CEO of LNG Alliance.

In addition to strengthening global LNG supply chains, the AMIGO LNG project serves as a bridge for U.S.–Mexico energy trade by monetizing U.S. natural gas exports through Mexico’s west coast. This enhances cross-border energy integration, creates bilateral economic value, and reinforces the role of U.S. and Mexico as strategic partners in delivering secure and affordable energy to the world.

About LNG Alliance
LNG Alliance (est. 2013), an affiliate of Texas-based Epcilon LNG LLC, is powering the future with cutting-edge gas and LNG terminal infrastructure across the USA, Mexico, Southeast Asia, and Europe. Backed by strategic partnerships with top-tier energy and technology leaders from the USA, Middle East, and Europe; LNG Alliance delivers reliable, transition and sustainable energy with global reach and local impact.

About Gunvor Group
Gunvor Group is one of the world’s leading independent commodities trading companies, with a global presence in trading, shipping, refining, and investments across energy transition projects. Gunvor is a major player in the global LNG market, with a portfolio of long-term offtake, supply, and shipping arrangements.

LIBREVILLE – Gabon National Oil Company (GOC) is pleased to announce the successful completion of the acquisition of 100% of the shares in Tullow’s subsidiary, Tullow Oil Gabon S.A, for a total cash consideration of USD 307 million of net tax and customary adjustments.

Tullow Oil Gabon S.A. holds all of Tullow’s non-operated working interests in Gabon, representing  approximately 10 kbopd of 2025 expected production and approximately 36 million barrels of 2P reserves (independently audited at year-end 2024). Gunvor provided financial support to GOC for a portion of the acquisition costs.

“Gunvor is pleased to expand upon our existing partnership with GOC for this strategic acquisition,” said Tawfik Sadfi, Gunvor’s Global Head of STF & STF Business Development & Origination. “Gunvor’s global market expertise and financing capabilities complement well Gabon’s energy agenda.”

“After the acquisition of Assala Energy Holdings Limited a year ago, this new business acquisition aligns perfectly with our strategic goals as national oil company, namely to help the Gabonese State maximise its oil revenues and reinforce control over the country’s oil and gas reserves,”’ said Mr. Marcellin Simba Ngabi, GOC’s Chief Executive Officer.

About Gunvor Group
Gunvor Group is one of the world’s largest independent commodities trading houses by trading volume, creating logistics solutions that safely and efficiently move physical energy from where it is sourced to where it is demanded most. With strategic investments in industrial infrastructure (refineries, pipelines, storage and terminals), Gunvor further generates sustainable value across the global supply chain for its customers. Gunvor trades in more than 100 countries with three main trading hubs in Geneva, Singapore and Houston, along with other trading offices in Stamford, Dubai, London and Shanghai, supported by a network of more than 20 representative and other trading offices around the globe.

SINGAPORE (7 July 2025) – Gunvor Singapore Pte. Ltd. (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Group”), has closed a US$1.285 billion sustainability-linked, syndicated revolving credit facility (“RCF” or “Facility”) on 13 June 2025.

The Facility, which was launched initially at US$800 million in April 2025, received strong support from Gunvor’s banking partners and attracted new banks, bringing together a total of 28 banks to close significantly oversubscribed by over 60% at general syndication. The Borrower has further upsized the Facility by US$50 million via an accordion feature, which was structured to accommodate two banks that joined the Facility after signing. This brings the total Facility amount to US$1.335 billion as of 7 July 2025, an increase from the previous year.

The 364-day Facility, which is guaranteed by the Company and includes two 12-month extension options, will be used for general corporate and working capital purposes, including the refinancing of the Borrower’s existing US$1.32 billion 2024 Asia Sustainability-linked Revolving Credit Facility.

Similar to previous financings, the Facility includes four sustainability Key Performance Indicators (KPIs) supporting the Group’s strong commitment to improve the environmental and social impacts of its trading operations and to invest in sustainable commodities and businesses. The KPIs relate to the reduction of Scope 1 and 2 Greenhouse Gas (GHG) emissions; reduction of Scope 3 GHG emissions associated with the improvement of energy efficiency of the chartered shipping fleets; the investment in non-hydrocarbon projects; and the assessment of the Group’s assets, JVs and critical suppliers against Human Rights principles. Each KPI is tested annually and verified externally in line with LMA Sustainability-Linked Loan Principles.

“We are very satisfied with the result of our Asian RCF renewal. This achievement is attributed to the strong relationships we maintain with our long-standing banking partners. Additionally, we are pleased to welcome several new lendersthis year”, said Jean Rohr, Gunvor’s Regional CFO for Asia-Pacific.

Abu Dhabi Commercial Bank PJSC, China CITIC Bank International Limited, DBS Bank Ltd., MUFG Bank, Ltd. and Oversea-Chinese Banking Corporation Limited were mandated to arrange the Facility and acted as the Active Bookrunning Mandated Lead Arrangers for the Facility. Agricultural Bank of China Limited, Singapore Branch, Emirates NBD Bank (P.J.S.C), Singapore Branch, First Abu Dhabi Bank PJSC, Natixis, Singapore Branch and State Bank of India, Singapore Branch remain as the Bookrunning Mandated Lead Arrangers. DBS Bank Ltd. also acted as syndication coordination agent and sustainability coordinator of the Facility, while Natixis, Singapore Branch also acted as Facility Agent, legal and documentation agent.

Bank of China Limited, Singapore Branch, China Construction Bank Corporation Singapore Branch, Coöperatieve Rabobank U.A., Singapore Branch, Crédit Agricole Corporate and Investment Bank, Singapore Branch, ING Bank N.V., Singapore Branch, Krung Thai Bank Public Company Limited, Singapore Branch, UBS AG, Singapore Restricted Branch, and Westpac Banking Corporation, Singapore Branch are Mandated Lead Arrangers.

China CITIC Bank Corporation Limited, Shanghai Branch, Mizuho Bank, Ltd., SOCIÉTÉ GÉNÉRALE, a public limited company incorporated in France, acting through its Hong Kong branch, and United Overseas Bank Limited are Lead Arrangers.

Commerzbank Aktiengesellschaft, Singapore Branch, Habib Bank Limited, Singapore Branch, National Bank of Fujairah PJSC, Sumitomo Mitsui Banking Corporation Singapore Branch, and Sumitomo Mitsui Trust Bank, Limited Singapore Branch remain as Arrangers. Furthermore, Arab Bank plc, Bank of Communications Co., Ltd., Singapore Branch and China Merchants Bank Co., Limited, Singapore Branch joined as new Arrangers.

About Gunvor Group
Gunvor Group is one of the world’s largest independent commodities trading houses by trading volume, creating logistics solutions that safely and efficiently move physical energy from where it is sourced to where it is demanded most. With strategic investments in industrial infrastructure (refineries, pipelines, storage and terminals), Gunvor further generates sustainable value across the global supply chain for its customers. Gunvor trades in more than 100 countries with three main trading hubs in Geneva, Singapore and Houston, along with other trading offices in Stamford, Dubai, London and Shanghai, supported by a network of more than 20 representative and other trading offices around the globe.

Innovative Approach Focused on Delivering Impactful and Measurable Decarbonization Results

PureWest Energy, LLC (“PureWest”), a leading Rocky Mountain independent natural gas producer recognized for its low methane and carbon emission rates, and Gunvor USA LLC, a member of Gunvor Group (“Gunvor”), one of the largest independent energy commodities trading companies worldwide, are partnering to provide verified low-carbon natural gas, which can stand alone or be blended with renewable natural gas (RNG) to meet key decarbonization goals, including Scope 3 emissions reduction targets.

Under the agreement, Gunvor will offtake PureWest’s third-party verified, low-carbon natural gas attributes, which may be unbundled or bundled with physical gas. PureWest’s production is measured and independently verified in alignment with ISO 14067, the global standard for quantifying and reporting the carbon footprint of a product’s life cycle. This innovative approach provides scalable and traceable solutions to reduce carbon emissions for downstream industrial end-users and is supported by CleanConnect’s ProveZero™ registry – an auditable, blockchain-backed system built to verify environmental attributes and carbon intensity with full transparency.

“PureWest produces natural gas with one of the lowest carbon intensities in North Americaand we remain committed to providing reliable, lower carbon energy options for end-users,” said Chris Valdez, PureWest CEO. “We’re proud to partner with Gunvor to deliver independently verified, low-carbon natural gas solutions that help end-users meet their decarbonization goals.”

Gunvor will integrate PureWest’s verified low-carbon natural gas into its supply portfolio, supporting the development of a verified low-carbon blended gas product that can meet global standards, including ISCC, and will help its customers achieve emissions reduction and decarbonization ambitions while maintaining supply reliability.

“Gunvor is committed to offering energy solutions that meet growing market decarbonization needs, especially as more of our customers are seeking new avenues to reach their emissions reductions goals,” said Gary Pedersen, President and CEO of Gunvor USA LLC. “By partnering with PureWest, a leading producer of verified low-carbon natural gas, we’re bringing innovative and scalable solutions to the market, and giving our customers the option of using lower-carbon and more sustainable energy.”

PureWest’s verified low-carbon gas is supported by CleanConnect, who provides comprehensive monitoring solutions, using continuous data from CleanConnect’s autonomous monitoring systems, which detect, classify, and timestamp emissions with precision and scale far beyond traditional Leak Detection and Repair (LDAR) or quarterly methods.

This agreement is an important milestone in accelerating measured, verifiable environmental attributes with commercial-scale energy distribution. The partnership between PureWest and Gunvor also reflects unique and collaborative industry approaches to meeting critical decarbonization goals through scalable, data-driven solutions across key end-use sectors.

About PureWest

PureWest Energy, LLC is a private energy company focused on developing its long-life gas reserves in Wyoming’s Green River Basin where the Company operates more than 108,000 net acres in the prolific Pinedale Field. PureWest’s commitment to stakeholders includes exceptional safety performance, an employee led community investment program, and industry leading emissions mitigation focused on rigorous Measurement, Monitoring, Reporting and Verification (MMRV) with ISO 14067 alignment. Additional information is available at PureWest.com.