FEASIBILITY REPORT—TEASER / EXECUTIVE SUMMARY, SOLAR TORNADO INTERNATIONAL LLC

Solar Tornado International LLC — Feasibility Report — Executive

Summary

The Business Opportunity, target market, business model : Solar Tornado

International LLC (hereafter "The Company") was established in Muscat,
Sultanate of Oman on 23/Jan/2017 holding CR # 1286334 with a capital of
RO 150k and the shareholders being (a) Omani National Mr. Murad
Mohammed Said Al Balushi (30% shareholder), and (b) Iranian National Mr.
Sadatmansouri Seyed Amirhossein Seyedmohsen (70% shareholder). The
registered activities of the Company include wholesale of miscellaneous food
products (including drinks).

The chart — consumption and refining capacity gap clearly shows the need for such facility in this
region. The Company wishes to set up a manufacturing facility to produce 5 MT / per day of edible
oil, on a 2.5k M2 — 3.0k M2 land in one of the industrial estates in Oman preferably either in Rusyl
/ Samail / Nizwa. Having gained rich experience from the operations in Iran (a) with Plant &
Machineries from Germany and Switzerland totalling to more than US$ 9M, (b) operating on a total
land area of 15.5kM2 of which industrial activity area is 9.5kM2, (c) with more than 80 employees
who are qualified, experienced, skilled and loyal, the Company has prepared suitably to install the
most appropriate and rightly suited machineries for the operations in Oman. The marketing, distribution
& selling channels shall help sell the edible oil in packing of different sizes.

Being associated with Sesame Saman Oil Company established in Iran in 1997 with an installed capacity of
5,000 MT/pa, known as the "first producer of standard sesame oil
in Iran" and sales of 3,500 MT/pa [for more information please visit
www.saman-oil.com[ the Company shall have all the advantages / benefits of

a well-established unit in terms of production processes, customer base,

marketing network, management specialities and relationship with all
stakeholders in the process.

The financial highlights of Saman Oil Co., Iran is (Amount in US $ '000) —

# Description 2016 2015 2014 2013 2012

1 Sales (revenue) 18,816 16,290 22,531 20,078 18,473
2 Operating profit 2,047 1,321 2,120 2,096 1,913
3 PAT 1,252 1,030 1,492 1,376 1,102

For Solar Tornado International LLC; CR # 1286334

 FEASIBILITY REPORT TEASER EXECUTIVE SUMMARY, SOLAR TORNADO INTERNATIONAL LLC
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Sesame Saman in Iran has established distribution channel partners who bring, in the shortest
possible time, the product to the consumer from the factory so as to retain the freshness and quality.
The distribution channels are in the form of authorized sales agents (external parties and/or business
associates). In addition to sales in the regional markets, Sesame Saman has established working

relationship with distribution partners in Canada and Europe dull which the products reach far away
and large size markets. The quantity of exports to the western markets is around 45-55% of the
annual production.

The Company has estimated that the investment in total facility that shall be built in Oman shall be
of OMR 800K - 1,000K. The total team shall be of about 40 employees. The management teams'
combined years of work experience shall more than 50 years. The market for the product from
Oman facility shall be largely in GCC and to some extent in South Asia, CIS and Europe.

Financial Analysis The forecast financial highlights of the Company shall be as ( Amount in OMR TOO)
:

# Description Yl Y2 Y3 Y4 Y5
1 Sales Qty / MT 743 891 1,040 1,077 1,114
2 Revenue / sales 1,597 1,946 2,034 2,422 2,543
3 EBITDA 219 281 334 317 296
4 PAT 103 168 224 219 209

Solar Tornado International LLC - conservative forecast cash flow statement (amt in RO) with NPV and IRR
Yearn 0.0 0.5 1.5 2.5 3.5 4.5 5.5 6.5

Initial investment -650,000

Salvage Value 162,500
CM 464,479 538,968 605,989 602,791 596,578 606,118 574,405
FC 5% -245,500 -251,563 -264,141 -277,348 -291,215 -305,776 -321,065
EBT 218,979 287,406 341,848 325,443 305,363 300,342 415,840
Tax Depreciation -97,500 -82,875 -70,444 -59,877 -50,896 -43,261 -82,647
Tax -18,222 -30,680 -40,711 -39,835 -38,170 -38,562 -49,979
Cash profit 200,757 256,726 301,137 285,608 267,193 261,780 365,861
Working Capital -707,177 -17,464 -36,232 -38,044 -39,946 -41,943 -44,040 924,846
Cash flow -1,357,177 183,293 220,494 263,094 245,662 225,250 217,739 1,290,707
DCF 1.0000 0.9623 0.8910 0.8250 0.7639 0.7073 0.6549 0.6064
DCF -1,357,177 176,374 196,454 217,046 187,653 159,315 142,596 782,660
NPV 504,921
1RR 15%

For Solar Tornado International LLC; CR # 1286334

 FEASIBILITY REPORT— TEASER / EXECUTIVE SUMMARY, SOLAR TORNADO INTERNATIONAL LLC

1. The NPV of the project (with WACC @ 8%) is OMR 397k

2. IRR (project-7 years) 15% [IRR equity shall be higher with borrowing].
3. The discounted payback period is estimated to be as 3.4 years

The required credit facilities and the repayment plan is as below

# Description Amt (OMR '000) Remarks

1 Term loan 500 Shall be repaid over 6 years (72 EMIs),
post moratorium period of 2 years.
2 Working capital loan 600 Consisting of LC & LTR (tenor 180
days), LBD (tenor 120 days)

Sesame Oil is the oldest and most valuable oil and is a very good and important edible oil used in
vast parts of Africa and Asia; and its extensive use of food and medicine has been around for
centuries. It is known as the queen of the oils, most of its unique characteristics are due to the
presence of natural antioxidants in it. Sesame oil is widely used in --1. Home in general cooking &
frying, 2. Pharma industry being a highly antioxidant, 3. Restaurants, fast food joints being a
thermal resistant, 4. Industrial bread & confectioner for the rancimat test, 5. Cosmetics as a
protector of skin with the oleic acid & others.

The 9 benefits of sesame oil is:

Heart health Hair health Prevents Cancer

Skin health Anxiety & Depression Circulation & metabolism
Bone growth Oral health Inflammation

With so much goodness in the product there shall always be a good demand for the product and thus
shall have a steady and good market at all times.

Identified risks / challenges to cope up with : Suitable arrangements shall be made to manage and
cope the identified risks. The team is experienced & capable to control and handle these risks.

1 Existing products & its suppliers
2 Pricing (price fluctuations)
Almost the entire requirement is imported, hence it
shall be a great import substitution and thereby
eliminate many costs involved in the process of
import and distribution.
Being an essential but low-price commodity, the
price fluctuation is not much and shall not very
much disturb the customer. However, care is taken

For Solar Tornado International LLC; CR # 1286334

 FEASIBILITY REPORT TEASER / EXECUTIVE SUMMARY, SOLAR TORNADO INTERNATIONAL LLC
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3 Forex risk (currency exchange rate)
4 Access to markets, near & far
5 Operational challenges (raw materials, labor,
etc.)
For Solar Tornado International LLC; CR # 1286334
to keep prices in the acceptable zone and in
comparison with the competitor products.
A forecast cash flow statement shall be prepared at
all times, to particularly note the cash inflow and
outflows. Based on the cash flow situations, the
usual and extra ordinary methods of managing the
forex risks shall be implemented and adopted.
With good support from the Principal Company, the
established and long-time association with
marketing & distribution companies and similar
new associations shall help market the products
both in terms of B2B and B2C models.
The Principal Company has rich and good
experience in the operational matters. This
knowledge and experience shall be made available
to Solar which shall help manage the operational
needs. Thus the Company shall function smoothly
barring any local incidence, etc. which shall not be
of a very disturbing nature.
 FEASIBILITY REPORT — TEASER / EXECUTIVE SUMMARY, SOLAR TORNADO INTERNATIONAL LLC

The food consumption in GCC shall be as (source - Alpen Capital, William Reed Business Media) :

Food Consumption in GCC 2016-21

(;C .0 CAGR 4.2%

50.0

40.0

5
S 30.0
2

20.0

10.0

0.0
2016 2017 2C18 2019 2020 2021

GCC - Category wise food consumpiton (Million MT)

■ Cereals U Dairy Fruits Vegetables ■ Others ■ Meat

For Solar Tornado International LLC; CR # 1286334