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1 April 2016

Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has today launched a US $750 million Syndicated Revolving Credit Facilities (the “Facilities”), which will support new activities and existing operations in the Asia Pacific.

DBS Bank Ltd. (“DBS”), First Gulf Bank PJSC, Singapore Branch (“FGB”), ING Bank N.V., Singapore Branch (“ING”), Malayan Banking Berhad, Singapore Branch (“Maybank”), Oversea-Chinese Banking Corporation Limited (“OCBC”), Natixis, Singapore Branch (“Natixis”) and Coöperatieve Rabobank U.A. Singapore Branch (“Rabobank”) (each a “Bookrunning Mandated Lead Arranger” or “BMLA” and together the “BMLAs”) have been mandated to jointly arrange the Facilities. DBS, FGB, ING, OCBC and Rabobank will act as Active Bookrunners.

ABN AMRO Bank N.V., Singapore Branch (“ABN”), Crédit Agricole Corporate & Investment Bank (“CACIB”), CTBC Bank Co., Ltd. (“CTBC”), and Société Générale, Singapore Branch (“SG”) have subsequently joined the deal as Senior Mandated Lead Arrangers, together with ICICI Bank Limited, Singapore Branch (“ICICI”) joining the deal as Mandated Lead Arranger.

The Facilities, which are guaranteed by the Company, will be used to refinance the Borrower’s Tranche A in the existing US $911.7 million revolving credit facility dated 26 May 2015 and Tranche B in the US $536.6 million revolving credit facility dated 3 June 2014; and to finance the general corporate and working capital requirements of the Borrower. The Facilities will be offered in two tranches with a tenor of 364-days and 3 years respectively.