Policy Document

Contractors Plant And Machinery Insurance arranged for:

Henan Guoji Industry Group Company Ltd
Policy No: CPM/GSI/KA/100052/2024
Period of Insurance: 9-Jul-2024 to 8-Jul-2025
Endorsement No.: NEW/CPM/GSI/KA/030596/2024

HEAD OFFICE: 6th Floor Crane Chambers Tel: +256 414 250 110,
Plot No 38 Kampala Road +256 414 250 111,
PO Box 7781 Kampala, +256 414 343 704
Uganda Email: [email protected]
6th Floor Crane Chambers www.goldstarinsurance.com
Plot No 38 Kampala Road [email protected]
PO Box 7781 Tel: +256 414 250 110,
Kampala, +256 414 250 111,
Uganda +256 414 343 704

Company Registration Number: 28228 TIN No.: 1000024127

Contractors Plant And Machinery
Page: 2

POLICY SCHEDULE

Policy CPM/GSI/KA/100052/2024 Broker Clarkson Insurance Brokers Ltd

Branch Kampala

The Insured Henan Guoji Industry Group Company Ltd

Postal Address Kololo IV,

Golf Course
Kampala

Remarks .

The Business

Period of Insurance a) From 09 July 2024 to 08 July 2025 (both dates inclusive).

b) Any subsequent period for which the Company agrees to renew this policy or any section thereof.

Effective Date 09 July 2024

Premium Payment Due Date 09 August 2024

Renewal Frequency Annual

Anniversary / 09 July 2025

Renewal Date

Reference CPM/GSI/KA/100052/2024

SIGNED at Kampala on the 9th day of July 2024.

Digitally
signed by
Steven Debit Note: D/2024/07/0410
On behalf of the Company Kimbowa
Date:
2024.07.10
09:02:18
+03'00'
Policy no: CPM/GSI/KA/100052/2024 Trans. Date: 09-Jul-2024

Transaction: D/2024/07/0410
The Insured: Henan Guoji Industry Group
Company Ltd Page: 3

Policy sections Sum Insured Premium

UGX UGX

Contractors Plant And Machinery 684,500,000 3,138,000

Basic Premium 3,138,000

Training Levy 15,690
Stamp Duty 70,000
Sticker Fee 12,000

VAT 569,824

Total payable 3,805,514

Policy no: CPM/GSI/KA/100052/2024 Trans. Date: 09-Jul-2024

Transaction: D/2024/07/0410
The Insured: Henan Guoji Industry Group
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Section: Contractors Plant And Machinery Effective Date: 09-Jul-2024

Sum Insured Basic Premium

Detail
UGX UGX

Extensions

Road Risks Covered

Third Party Liability - Per Person UGX 50,000,000

Third Party Liability - In Aggreate UGX 100,000,000

Third Party Property Damage - In UGX 100,000,000 100,000,000 400,000

Aggregate

Claim Preparations Costs UGX 5,000,000

Cross Liability Covered

Earthquake, flood, storm, inundation, Covered

volcanic eruption, landslide other
convulsions of nature

Expediting Expenses UGX 5,000,000

Explosion, Bush Fire, Subterranean Fire Covered

Plant hired and/or loaned out Covered

Riots, Strikes and Civil Commotion Covered

Storage anywhere within Uganda Covered

Exclusions & Warranties: Please see attached

Excesses: Please refer to Policy Items and Clauses for individual Excesses
Policy no: CPM/GSI/KA/100052/2024 Trans. Date: 09-Jul-2024

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Section: Contractors Plant And Machinery Effective Date: 09-Jul-2024

Detail Sum Insured Basic Premium

UGX UGX

1 UBQ732R 436,600,000 1,746,400

Anywhere in Uganda
Make XCMG CM01
Model XE215C CM02
Year of Manufacture 2023 CM04

Detail Sum Insured Basic Premium

UGX UGX

2 UBQ744R 247,900,000 991,600

Anywhere in Uganda
Make XCMG CM01
Model XCMG ZL50GN CM02
Year of Manufacture 2023 CM04
Policy no: CPM/GSI/KA/100052/2024 Trans. Date: 09-Jul-2024

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Section: Contractors Plant And Machinery Effective Date: 09-Jul-2024

Excess

Material Damage: 10% of adjusted claim amount minimum UGX 2,500,00

Third party Liability-NIL

CONTRACTORS’ PLANT AND MACHINERY INSURANCE POLICY

WHEREAS the Insured named in the Schedule hereto has made to GOLDSTAR INSURANCE COMPANY LIMITED (hereinafter called “the
Insurers”) a written proposal by completing a questionnaire which, together with any other statement made in writing by the Insured for the
purpose of this Policy, is deemed to be incorporated herein.

NOW THIS POLICY WITNESSES that, subject to the Insured having paid to the Insurers the premium mentioned in the Schedule and
subject to the terms, exclusions, conditions and provisions contained herein or endorsed hereon,

The Insurers hereby agree with the Insured that if at any time during the period of insurance stated in the Schedule or during any
subsequent period for which the Insured pays and the Insurers may accept the premium for the renewal of this Policy, the items (or any part
thereof) entered in the Schedule, whilst at the location or in the geographical area mentioned therein, suffer any unforeseen and sudden
physical loss or damage from any cause not specifically excluded in a manner necessitating repair or replacement.

The Insurers will indemnify the Insured in respect of such loss or damage as hereinafter provided by payment in cash, replacement or repair
(at their own option) up to an amount not exceeding in any one year of insurance in respect of each of the items specified in the Schedule the
sum set opposite thereto and not exceeding in all, the total sum expressed in
the Schedule as insured hereby.

This Policy shall apply whether the insured items are at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or in
the course of the aforesaid operations themselves, or in the course of subsequent re-erection, but in any case only after successful
commissioning.

DEFINITIONS:

Terms
Terms include conditions, warranties and exceptions of this Policy.

Material Facts
Every information which can influence the Company’s decision in accepting the risk and determining the terms.

Excess
The amount the Insured shall bear as the first part of each and every claim made.

EXCEPTIONS
The Company shall not be liable in respect of:

a) The deductible stated in the Schedule to be borne by the insured in any one occurrence; if more than one item is lost or damaged in
one occurrence, the Insured shall not, however, be called upon to bear more than the highest single deductible applicable to such
items;

b) Loss or damage due to electrical or mechanical breakdown, failure, breakage or derangement, freezing of coolant or other fluid,
defective lubrication or lack of oil or coolant, but if as a consequence of such breakdown or derangement an accident occurs
causing external damage, such consequential damage shall be indemnifiable.

c) Loss of a damage to replaceable parts and attachments such as bits, drills, knives or other cutting edges, saw blades, dies, moulds,
patterns, pulverizing and crushing surfaces, screens and sieves, ropes, belts, chains, elevator and conveyor bands, batteries, tyres,
connecting wires and cables flexible pipes, jointing and packing material regularly replaced;

d) Loss or damage due to explosion of any boiler or pressure vessel subject to internal steam or fluid pressure or of any internal
combustion engine;

e) Loss of or damage to vehicle designed and licensed for general road use unless these vehicles are exclusively used on construction
sites;

f) Loss of or damage to waterborne vessels or craft;

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g) Loss or damage due to total or partial immersion in tidal waters;

h) Loss or damage whilst in transit unless otherwise agreed by endorsement;

i) Loss or damage as a direct consequence of the continual influence of operation (eg wear and tear, corrosion, rust, deterioration due
to lack of use and normal atmospheric conditions);

j) Loss or damage occurring whilst any insured item is undergoing a test of any kind or is being used in any manner or for any
purpose other than that for which it was designed;

k) Loss of or damage to plant and/or machinery working underground unless otherwise agreed by endorsement;

l) Loss or damage directly or indirectly caused by, or arising out of, or aggravated by war, invasion, act of foreign enemy, hostilities
(whether war be declared or not), civil war, rebellion, revolution, insurrection, mutiny, riot, strike, lock-out, civil commotion,
military or usurped power, a group of malicious persons or persons acting on behalf of or in connection with any political
organization, conspiracy, confiscation, commandeering, requisition or destruction or damage by order of any government de jure or
de facto or by any public authority,

m) Loss or damage directly or indirectly caused by, or arising out of, or aggravated by nuclear reaction, nuclear radiation or radioactive
contamination;

n) Loss or damage due to any faults or defects existing at the time of commencement of this Policy within the knowledge of the Insured
or his representatives, whether such faults or defects were known to the Insurers or not;

o) Loss or damage directly or indirectly caused by, or arising out of, or aggravated by the willful act or willful negligence of the
Insured or his representatives;

p) Loss or damage for which the supplier or manufacturer is responsible either by law or under contract;

q) Consequential loss or liability of any kind or description;

r) Loss or damage discovered only at the time of taking an inventory or during routine servicing.

s) Any claims caused, sustained or incurred while the machine is being driven by any person who was not licensed to drive or operate
such a vehicle unless there is proof that there was no consent.

t) Any Claims caused, sustained or incurred while the machine is being driven by any person with alcoholic percentage in excess of the
legal limit as per Ugandan laws unless there is proof that there was no consent.

In any action, suit or other proceeding where the Insurers allege that by reason of the provisions of exclusions m-q above any loss,
destruction or damage is not covered by this Policy, the onus of proving that such loss, destruction or damage is covered shall be upon the
Insured.

PROVISIONS

Memo 1 - Sums Insured

It shall be a requirement of this Policy that the Sum Insured is equal to the cost of replacement of the insured items by new items of the same
kind and capacity, which means their costs of replacement including, eg, freight, customs duties and dues, if any, and cost of erection.

If the sum insured is less than the amount required to be insured, the insurers shall pay only in such proportion as the sum insured bears to
the amount required to be insured. Every item if more than one shall be subject to this condition separately.

Memo 2 - Basis of Loss Settlement

In the event of any loss or damage the basis of any settlement under this Policy shall be as follows:

a) In cases where damage to an insured item can be repaired - the Insurers shall pay expenses necessarily incurred to restore the damaged item
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to its former state of serviceability plus the cost of dismantling and re-erection incurred for the purpose of effecting the repairs as well as
ordinary freight to and from a repairshop, customs duties and dues, if any, to the extent such expenses have been included in the sum insured.
If the repairs are executed at a workshop owned by the Insured, the Insurers shall pay the cost of materials and wages incurred for the
purpose of the repairs plus a reasonable percentage to cover overhead charges.

No deduction shall be made for depreciation in respect of parts replaced, but the value of any salvage shall be taken into account. If the cost
of repairs as detailed hereinabove equals or exceeds the actual value of the insured item immediately before the occurrence of the damage, the
item shall be regarded as destroyed and settlement shall be made on the basis provided for in b below.

b) In cases where an insured item is destroyed - the Insurers shall pay the actual value of the item immediately before the occurrence of the
loss, including charges for ordinary freight, cost of erection, customs duties, if any, provided such expenses have been included in the sum
insured, such actual value to be calculated by deducting proper depreciation from the replacement value of the item. The value of any salvage
shall be taken into account.

Any extra charges incurred for overtime, night work, work on public holidays, and express freight shall be covered by this Policy only if
especially agreed in writing.

The cost of any alterations, additions, improvements or overhauls shall not be recoverable under this Policy.

The cost of any provisional repairs shall be borne by the Insurers if such repairs constitute part of the final repairs and do not increase the
total cost of repair.

The amount payable by the Insurers according to the above-mentioned provisions shall be reduced by the deductible stated in the Schedule.

The Insurers shall make payments only after being satisfied by production of the necessary bills and documents that the repairs have been
effected or replacement has taken place, as the case may be.

CONDITIONS

This Policy and the Schedule shall be read together and any word or expression to which a specific meaning has been attached in any part of
this Policy or of the Schedule shall bear such meaning wherever it may appear.

1. The due observance and fulfillment of the terms of this Policy in so far as they relate to anything to be done or complied with by the
Insured and the truth of the statements and answers in the questionnaire and proposal made by the Insured shall be a condition precedent to
any liability of the Insurers.

2. The Schedule shall be deemed to be incorporated in and form part of this Policy and the expression “this Policy”, wherever used in this
contract, shall be read as including the Schedule. Any word or expression to which a specific meaning has been attached in any part of this
Policy or of the Schedule shall bear such meaning wherever it may appear.

3. The Insured shall at his own expense take all reasonable precautions and comply with all reasonable recommendations of the Insurers to
prevent loss or damage and comply with statutory requirements and manufacturers’ recommendations.

4. a. Representatives of the Insurers shall at any reasonable time have the right to inspect and examine the risk and the Insured shall
provided the representatives of the Insurers with all details and information necessary for the assessment of the risk.

b. The Insured shall immediately notify the Insurers by telegram and in writing of any material change in the risk and cause at his
own expense such additional precautions to be taken as circumstances may require, and the scope of cover and/or premium shall, if
necessary, be adjusted accordingly. No material alteration shall be made or admitted by the Insured whereby the risk is increased,
unless the continuance of the insurance is confirmed in writing by the Insurers.

5. In the event of any occurrence which might give rise to a claim under this Policy, the Insured shall:
a. immediately notify the Insurers by telephone or telegram as well as in writing, giving an indication as to the nature and extent of
the loss or damage;
b. take all reasonable steps within his power to minimize the extent of the loss or damage
c. preserve the parts affected and make them available for inspection by a representative or surveyor of the Insurers.
d. furnish all such information and documentary evidence as the Insurers may require.
e. inform the police authorities in the case of loss or damage due to theft or burglary. The Insurers shall on no account be liable for
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loss or damage of which no notice has been received by the Insurers within 14 days of its occurrence. Upon notification being given
to the Insurers under this condition, the Insured may carry out repairs of any minor damage or replace items which have sustained
any minor damage; in all other cases a representative of the Insurers shall have the opportunity of inspecting the loss or damage
before any repairs or alterations are effected. If a representative of the Insurers does not carry out the inspection within a period of
time which could be considered adequate under the circumstances, the Insured shall be entitled to proceed with the repairs or
replacement. Nothing contained herein shall prevent the Insured from taking such steps as are absolutely necessary for the upkeep of
operations at the respective construction site. The liability of the Insurers under this Policy in respect of any item sustaining damage
shall cease if said item is not repaired properly without delay.

6. The Insured shall at the expense of the Insurers do and concur in doing and permit to be done all such acts and things as may be
necessary or required by the Insurers in the interest of any right or remedies, or of obtaining relief or indemnity from parties (other than those
insured under this Policy) to which the Insurers are or would become entitled or which is or would be subrogated to them upon their paying
for or making good any loss or damage under this Policy, whether such acts and things are or become necessary or required before or after
the Insured’s indemnification by the Insurers.

7. If any difference arises as to the amount to be paid under this Policy (liability being otherwise admitted), such difference shall be referred
to the decision of an arbitrator to be appointed in writing by the parities in difference or, if they cannot agree upon a single arbitrator, to the
decision of two arbitrators, one to be appointed in writing by each of the parties within one calendar month after having been required in
writing so to do by either of the parties, or, in case the arbitrators do not agree, of an umpire to be appointed in writing by the arbitrators
before the latter enter upon the reference. The umpire shall sit with the arbitrators and preside at their meetings. The making of an award shall
be a condition precedent to any right of action against the Insurers.

8. a. If the proposal or declaration of the Insured is untrue in any material respect, or if any claim made is fraudulent or substantially
exaggerated, or if any false declaration or statement is made in support thereof, then this Policy shall be void and the Insurers shall
not be liable to make any payment hereunder.

b. In the event of the Insurers disclaiming liability in respect of any claim and if an action or suits is not commenced within three
months after such disclaimer or (in the case of arbitration taking place in pursuance of Condition 7 of this Policy) within three
months after the arbitrators or umpire have made their award, all benefit under this Policy in respect of such claim shall be forfeited.

9. This Policy may be terminated at the request of the Insured at any time, in which case the Insurers will retain the customary short-period
rate for the time this Policy has been in force. This Policy may equally be terminated at the option of the Insurers by seven days’ notice to that
effect being given to the Insured, in which case the Insurers will be liable to repay on demand a ratable proportion of the premium for the
unexpired term from the date of cancellation less any reasonable inspection charges the Insurers may have incurred.

10. If at the time any claim arises under this Policy there is any other insurance covering the same loss or damage, the Insurers shall not be
liable to pay or contribute more than their ratable proportion of any claim for such loss or damage.

11. Dispute Resolution: Any dispute/complaint between the parties to the Insurance or Health Management contract may first be resolved
amicably between the parties without the intervention of a third party and/or the dispute/complaint may be escalated to the Insurance
Regulatory Authority of Uganda or Ombudsman in accordance with the Insurance Act and Regulations before resorting to other mediation,
arbitration, litigation or any other form of dispute resolution.

Endorsement 117: Special conditions for laying water supply and sewer pipes

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon, the Insurers shall indemnify the Insured for any loss, damage or liability due to the flooding or silting of pipes, trenches or shafts
only up to the maximum length of open trench stated below, partially or completely excavated, for any one loss event.

The Insurers shall be liable only if

1. the pipes, immediately after laying, have been secured in such a manner by backfilling that they cannot be displaced if the trench is flooded;

2. the pipes, immediately after laying, have been closed to prevent water, silt or the like from penetrating;

3. the trenches of tested pipe sections have been backfilled immediately upon completion of the pressure test.

Endorsement 016: Design - Betterment Exclusion

This endorsement forms part of Section I and is subject otherwise to the terms, provisions, conditions, limitations and exclusions contained in
the Policy or endorsed thereon except for the following:
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1. Exclusion
Clause 3.4.1 of the Exclusions at Section I - Project Works shall be deleted and replaced by the following wording:

“3.4.1 Any costs rendered necessary to replace, repair or rectify any property which is defective as a result of any fault, defect, error or
omission in design, plan or specification, material or workmanship, but should any part of the Property Insured containing any such defect
become lost or damaged, the costs excluded are those which the Insured incurred to improve the original design, plan or specification,
material or workmanship;

For the purpose of the Policy and not merely this exclusion it is understood and agreed that any portion of the Property Insured shall not be
regarded as damaged solely by virtue of the existence of any defect of material workmanship design plan or specification."

Endorsement 104: Special conditions concerning the construction of dams and water reservoirs

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon, the Insurers shall not indemnify the Insured in respect of

- grouting of soft rock areas and/or other additional safety measures even if their necessity arises only during construction,

- expenses incurred for dewatering even if the quantities of water originally expected are exceeded substantially,

- loss or damage due to breakdown of the dewatering system if such breakdown could have been avoided by sufficient stand-by facilities,

- expenses incurred for additional sealing or waterproofing and additional facilities for the discharge of run-off and/or underground water,

- loss or damage due to subsidence if caused by insufficient compacting,

- cracks and leakage.

Endorsement 121: Special conditions concerning piling foundation and retaining wall works

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or
endorsed thereon, the Insurers shall not indemnify the Insured in respect of expenses incurred

1. for replacing or rectifying piles or retaining wall elements

a) which have become misplaced or misaligned or jammed during their construction,
b) which are lost or abandoned or damaged during driving or extraction, or
c) which have become obstructed by jammed or damaged piling equipment or casings,

2. for rectifying disconnected or declutched sheet piles,

3. for rectifying any leakage or infiltration of material of any kind,

4. for filling voids or for replacing lost bentonite,

5. as a result of any piles or foundation elements having failed to pass a load bearing test or otherwise not having reached their
designed load bearing capacity,

6. for reinstating profiles or dimensions.

This endorsement shall not apply to loss or damage caused by natural hazards. The burden of proving that such loss or damage is
covered shall be upon the Insured.

Endorsement 203: Exclusion Concerning Used Machinery

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon, the Company will not indemnify the Insured for loss of or damage to the insured used items
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- attributable to previous operation,

- attributable to dismantling (if dismantling is not covered),
- in respect of any non-metallic parts

Endorsement 204: Special Condition 1 for Hydrocarbon Processing Industries

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon, the following shall apply to this insurance:

As from the introduction of any hydrocarbons into the plant

1. The Company will not be liable for loss of or damage to

a. catalysts unless included by endorsement,
b. reforming units due to overheating or cracking of any tubes,
c. the insured plant due to overheating or cracking following an exothermic reaction,
d. the insured plant due to the prescribed techniques not being followed on purpose or due to the cutting out of safety devices, as well as for
any liability resulting therefrom.

EXTENSIVE CLAUSE ATTACHED TO AND FORMING PART OF THE POLICY.

Road Risks

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon and subject to the Insured having paid the agreed extra premium, Road Risks shall be covered under the Policy for items named in the
Schedule, subject to limits specified in the policy schedule.

Claim Preparations Costs

It is hereby declared and agreed that the Insurers will pay any amount actually expended by the Insured in producing and certifying any
particulars or details required as specified below.

(a) In notifying Insurer and giving details of any other Insurance covering the same event.

(b) In informing the Police of any particular claim involving theft (if required by Insurer), or loss of property and taking all practical steps to
discover the guilty party and recovering the stolen or lost property

(c) In providing Insurer with full particulars of claim and such proofs, information, and sworn declarations as the Insurer may require

(d) In cooperation with Insurer, or their nominees, on behalf of the Insurer in minimizing the loss or damage.

The Company's liability is limited to UGX 5,000,000

Cross Liability

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon and subject to the Insured having paid the agreed extra premium, the Third Party Liability cover of the Policy shall apply to the third
insured parties named in the Schedule as if a separate policy had been issued to each party, provided that the Company will not indemnity the
Insured under this Endorsement in respect of liability or for

- loss or damage of items insured or insurable under Section 1 of the Policy, even if not recoverable due to an excess or any limit,

- fatal or non-fatal injury or illness of employees or workmen who are or could have been insured under Workmen's Compensation and/or
Employer's Liability insurance.

The Company's total liability in respect of the Insured parties shall not however exceed in the aggregate for any one accident or series of
accidents arising out of one event the limit of indemnity stated in the Schedule.

Earthquake, flood, storm, inundation, volcanic eruption, landslide other convulsions of nature
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The Insurance Company, agrees, not withstanding what is stated in the printed conditions of this policy to the contrary, that this insurance
covers loss or damage occasioned by or in consequence of Strom, Floods, Inundation, Volcanic Eruption, Landlside, Earthquake and Other
Convulsions of Nature.

PROVIDED ALWAYS that all Conditions of this Policy (except in so far as Condition No. 6 (a) is hereby expressly varied shall apply as if
they had been incorporated herein and for the purpose thereof any loss or damage by Storm, Floods and Earthquake, as aforesaid shall be
deemed to be loss or damage by Fire within the meaning of the policy.

Expediting Expenses

This Policy is extended to cover any extra costs incurred in respect of express delivery, airfreight, overtime and holiday rates of pay in
connection with reinstatement, rectification, repair or replacement, necessarily incurred following destruction of damage to property by a peril
hereby insured against, subject however to a limit of maximum UGX 5,000,000 of the amount which the repair or replacement would have
cost if the extra expenses had not been incurred.

Explosion, Bush Fire, Subterranean Fire

Notwithstanding anything contained herein to the contrary, it is hereby declared and agreed that this policy is extended to cover Explosion,
Bush Fire and Subterranean Fire.

Plant hired and/or loaned out

Notwithstanding anything contained herein to the contrary, the Insurance by this policy covers legal liability as defined in the policy in respect
of ownership or possession of or use or control of the Insured plant hired or rented out.

Riots, Strikes and Civil Commotion

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon, and subject to the Insured having paid the agreed extra premium, this Policy shall be extended to cover loss or damage due to strike,
riot and civil commotion which for the purpose of this Endorsement shall mean (subject always to the special conditions hereinafter
contained) loss of or damage to the property insured directly caused by

1. the act of any person taking part together with others in any disturbance of the public peace (whether in connection with a strike or lockout
or not) not being an occurrence mentioned in item 2 of the special conditions hereof,

2. the action of any lawfully constituted authority in suppressing or attempting to suppress any such disturbance or in minimizing the
consequences of any such disturbance,

3. the wilful act of any striker or locked-out worker performed in furtherance of a strike or in resistance to a lockout,

4. the action of any lawfully constituted authority in preventing or attempting to prevent any such act or in minimizing the consequences of
any such act,

provided that it is hereby further expressly agreed and declared that

1. all the terms, exclusions, provisions and conditions of the Policy shall apply in all respects to the insurance granted by this extension save in
so far as the same are expressly varied by the following special conditions, and any reference to loss or damage in the wording of the Policy
shall be deemed to include the perils hereby insured against,

2. the following special conditions shall apply only to the insurance granted by this extension, and the wording of the Policy shall apply in all
respects to the insurance granted by the Policy as if this Endorsement had not been made thereon.

Special Conditions

1. This insurance shall not cover

a) loss or damage resulting from total or partial cessation of work or the retarding, interruption or cessation of any process or operation,

b) loss or damage occasioned by permanent or temporary dispossession resulting from confiscation, commandeering or requisition by any
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lawfully constituted authority,

c) loss or damage occasioned by permanent or temporary dispossession of any building resulting from the unlawful occupation by any person
of such building,

d) consequential loss or liability of any kind or description, any payments over and above the indemnity for the material damage as provided
herein, provided nevertheless that the Insurers are not relieved under b) or c) above of any liability to the Insured in respect of physical
damage to the property insured occurring before dispossession or during temporary dispossession.

2. This insurance shall not cover any loss or damage occasioned by or through or in consequence, directly or indirectly, of any of the
following occurrences, namely

a) war, invasion, act of foreign enemy, hostilities or warlike operations (whether war be declared or not), civil war,

b) mutiny, civil commotion assuming the proportion of or amounting to a popular rising, military rising, insurrection, rebellion, revolution,
military or usurped power,

c) any act of any person acting on behalf of or in connection with any organization with activities directed toward the overthrow by force of
the government de jure or de facto or to the influencing of it by terrorism or violence.

In any action, suit or other proceeding, where the Insurers allege that by reason of the provisions of this condition any loss or damage is not
covered by this insurance, the burden of proving that such loss or damage is covered shall be upon the
Insured.

3. This insurance may at any time be terminated by the Insurers on notice to that effect being given by registered post at the Insured's last
known address, in which case the Insurers shall be liable to repay a rateable proportion of the premium for the unexpired term from the date
of termination.

4. The limit of indemnity any one occurrence as stated below shall be understood to limit the indemnity for all loss or damage covered by this
Endorsement during a consecutive period of 168 hours.

The aggregate liability of the Insurers during the period of cover of this Policy shall be limited by twice the limit of indemnity any one
occurrence.

Limit of indemnity: 10% of Sum Insured any one occurrence

Deductible: Same as Material Damage

Storage anywhere within Uganda

The Insurance is extended to cover Property of the insured whilst stored elsewhere other than at the premises in the occupation of the insured.

Automatic Reinstatement

In consideration of the Insured undertaking to pay an additional premium at the agreed rate on the amount of loss calculated on a pro-rata
basis from the date of such loss to the expiry of the current period of insurance, it is agreed that in the event of loss the insurance hereunder
shall be maintained in force for the full sum insured.

Endorsement 116: Cover for insured contract works taken over or put into service

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon and subject to the Insured having paid the agreed extra premium, the insurance shall be extended to cover

- loss of or damage to parts of the insured contract works taken over or put into service if such loss or damage emanates from the
construction of the items insured under Section 1 and happens during the period of cover.

Cancellation after 30 days

This policy may be cancelled at any time at the request of the Insured in writing to the Insurer and the premium shall be adjusted on the basis
of the Insurer receiving or retaining the customary short term premium or minimum premium. The policy may also be cancelled by the
Insurer by giving thirty days notice in writing to the Insured at his last known address and the premium shall be adjusted on the basis of the
Insurer receiving or retaining short term premium
Policy no: CPM/GSI/KA/100052/2024 Trans. Date: 09-Jul-2024

Transaction: D/2024/07/0410
The Insured: Henan Guoji Industry Group
Company Ltd Page: 14

Section: Contractors Plant And Machinery Effective Date: 09-Jul-2024

Full replacement value

It is hereby declared and agreed that in the event of the property insured under this Policy being destroyed or damaged, the basis upon which
the amount payable under this Policy is to be calculated, shall be the cost of replacing or reinstating on the same site property of the same kind
or type but not superior to or more extensive than the insured property when new, subject to the following Special Provisions and subject to
the terms and conditions of the policy except insofar as the same may be varied hereby.

Payment on Account

In the event of liability being admitted in respect of a claim under this policy the Insurer will without prejudice to their rights under the policy
make payment(s) on account as may be required by the insured in respect of such claim.

Endorsement 400: Cover for Underground Machinery and Equipment

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon and subject to the Insured having paid the agreed extra premium, the Company will indemnify the Insured for loss of or damage to
item(s) No(s) contained in the Specification of Insured Items of the Policy due to flood, inundation, landslide or rockslide, subsidence,
collapse of adits, galleries, tunnels, etc

However, loss or damage due to abandonment of these items shall be excluded from the cover.

Inland Transit

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed
thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to cover loss of or damage to the
insured items whilst in transit anywhere in Uganda

Malicious Damage

In consideration of the payment of aforementioned premium, it is hereby agreed and declared that the insurance under the said Riot and Strike
Endorsement shall extend to include MALICIOUS DAMAGE which for purpose of this extension shall mean;

Loss of or damage to the property insured directly caused by the Malicious Act of any person (whether or not such act is committed
amounting to or committed in connection with an occurrence mentioned in Special Condition of the said Riot and Strike Endorsement.

PROVIDED ALWAYS THAT all the conditions and Provisions of the said Riot and Strike Endorsement shall apply to this extension as if they
had been incorporated herein.

72 Hours Clause

It is hereby declared and agreed that where loss or damage occurring to any building or contents or any other property insured herein, during
any one of 72 hours shall be regarded as one claim for the purpose of this policy.

Resultant Accidental Damage to Other Machinery from unexpected wear and tear.
This policy extends to include cover other machinery which may occur to the insured property other than the cost of repairing or replacing the
part or component of the insured property whose failure caused the loss or damage and which would have had to have been replaced or
repaired even if no failure resulting in physical damage had occurred up to a necessary and reasonable amount subject to the policy terms and
conditions.

Foundation Clause
This policy cover extends to include that part of the building below the under* surface of its lowest floor (and those parts of the concrete
foundations for machinery which extend above such level).
Note 1: “upper” maybe substituted for “under”.

Accessories and Standard tools Extension

It is hereby understood and agreed that any claim for the cost of repairing/reinstating or replacing the Accessoriesof the Vehicles insured
under this policy as a result of loss or damage due to theft following forcible and violent entry into the Motor Vehicle will be made within the
terms of the Policy.
The maximum indemnity provided by this extension is limited to UGX 10,000,000
Policy no: CPM/GSI/KA/100052/2024 Trans. Date: 09-Jul-2024

Transaction: D/2024/07/0410
The Insured: Henan Guoji Industry Group
Company Ltd Page: 15

Section: Contractors Plant And Machinery Effective Date: 09-Jul-2024

It is understood and agreed that loss or damage to external aerial will not constitute a claim under this extension. Subject otherwise to the
terms, exceptions and conditions of the Policy

Automatic Coverage

Cover is extended to include automatic coverage for newly acquired property like equipment, machinery, furniture, fixtures, fittings,
electronics, similar to the existing property of the Insured, Provided that;

i) property up to a value of 10% of Sum Insured for each item insured shall be declared to Insurers at expiry, and/or
ii) property over this limit shall be declared to Insurers within 30 days of acquisition,
ii) any additional premium is paid at the policy rate on prorata basis

Costs Of Recovery Extension

If the insured shall sustain any loss to which this section applies which exceeds the sum insured here under, the Company will in addition to
the sum insured, pay to the Insured costs and expenses not exceeding the amount of UGX 6,000,000

Loss Reduction Clause: UGX 10,000,000

It is hereby declared and agreed that cover by this Policy extends to include costs and expenses reasonably incurred by the Insured in:-

(a) preventing or reducing losses to the property in the event of imminent damage by any of the perils

(b) reducing losses to the property on or after the occurrence of any of the perils.

Provided such costs and expenses will not exceed the amount of loss thereby avoided.

necessarily incurred with the consent of the Company (which consent shall not be unreasonably withheld) for the recovery or attempted
recovery from the employee in regard to whom the claim is made of that part of the loss which exceeds the sum insured here under. All
amounts recovered by the Insured in excess of the said part of the loss shall be for the benefit of the Company and the Insured to the extent of
his Co-insurance in terms of the compulsory first amount payable.

Waiver of Formal Proposal Form

It is noted and agreed that the Insured having not submitted to the Company a formal completed Proposal Form but having proposed to the
Company by means of a letter or risk note or by instructions from their insurance brokers wherever this Policy makes reference to "Proposal"
and "Declaration" these terms shall be deemed to include the Insured's said letter or risk note in lieu thereof.