Add. Sinha-ri Yeonggwang-eup, Yeonggwang-gun, Jeollanam-Do, Rep of KOREA Phone Fax Company Profile

Company & CI General Information Refining Facilities & Facility Vehicle Office & factory Contents 7 1 Future Business & Direction 16 3 Greetings 2 Management Philosophy Major Business Areas 11

Greetings We are an environment-friendly company, stable and strong, working through the belief that the dynamics behind corporate development is humans as well as its dreams and visions. The company makes even better steps toward energy recycling. We will provide self-initiated services to customers under the banner to introduce new values based on trust and belief in customers themselves. This will resolve complaints in advance, which will strengthen our sense of responsibility. We will do our best to satisfy customers. Thank you very much. CEO JEONG, Gyeong-yeon We are an environment-friendly company, stable and strong, working through the belief that the dynamics behind corporate development is humans as well as its dreams and visions. The company makes even better steps toward energy recycling. We will provide self-initiated services to customers under the banner to introduce new values based on trust and belief in customers themselves. This will resolve complaints in advance, which will strengthen our sense of responsibility. We will do our best to satisfy customers. Thank you very much. CEO JEONG, Gyeong-yeon 1

Management Philosophy “Trust-based management fulfilling the basics” “Best services for customers” “Sharing value with customers to maximize profits” -. Substantial business development toward customers -. realization of common interests with customers -. provision of new vision with ceaseless changes 2 Customer's trust, future-oriented company, and cultural development Services Social contribution Trustworthiness

Company 3 Company & CI The name of the company, Kyongwon, is the combined words of 'Seoul (Kyong, 京 )' and 'the best (won, 元 )‘ where it originates from the founder's will to develop the company into the best company in Seoul leading the energy industry along with bright, hopeful and new beginning by visualizing the first letter of its English name, G, as the burning sun. The name of the company, Kyongwon, is the combined words of 'Seoul (Kyong, 京 )' and 'the best (won, 元 )‘ where it originates from the founder's will to develop the company into the best company in Seoul leading the energy industry along with bright, hopeful and new beginning by visualizing the first letter of its English name, G, as the burning sun.

Introduction 4 Company Name Gyeongwon Industrial Co., Ltd. Establishment November 2006 Representative JEONG, Gyeong-yeon Business Areas Employees 12 Location Sinha-ri Yeonggwang-eup,Yeonggwang-gun,Jeollanam-Do,579-1 Contact Tel Fax ■ Petrochemical Products. GW - 100(Decompressed Refined Oil). GW - 200(Ionized Refined Oil) - Other Petrochemical Products ■ Petrochemical Products. GW - 100(Decompressed Refined Oil). GW - 200(Ionized Refined Oil) - Other Petrochemical Products Storing / Transport Capacity Storing / Transport Capacity ■ Refined Oil Plant located in Younggwang-eup, Youggwang-gun, Jeollanamdo ■ Storing Capacity : 2 million liter ■ Transport Capacity : 26,000 liter and 22,000 liter (two, respectively), 8,000 liter (1), 5,000 liter (1), Six in Total ■ Refined Oil Plant located in Younggwang-eup, Youggwang-gun, Jeollanamdo ■ Storing Capacity : 2 million liter ■ Transport Capacity : 26,000 liter and 22,000 liter (two, respectively), 8,000 liter (1), 5,000 liter (1), Six in Total

Company History 5 ▶ Gyeongwon Industrial Co., Ltd. established ▶ Secured membership with the Korea International Trade Association ▶ Plant Site purchased ▶ Installation of hazardous substances storage approved ▶ Construction of the plant and offices approved ▶ Plant and offices constructed ▶ Plant Opening Ceremony ▶ Test Trial at the Plant ▶ Plant products released (GM-100, GM-200) ▶ Approval to manufacture renewable fuel oil (W.D.F) ▶ Hazardous substances storage constructed

Organizational Chart 6CEO Management Team Marketing Team Manufacturing Team

Office & factory Office 7 Factory

Factory production facilities foreground 8 Inside External

9 GW (Decompressed Refining) Facility Refining Facilities GW – 200 (Ionized Refining) Facility

Facility Vehicle 10 Division Load capacity Retention Etc Tank Lorry 26,000 ℓ 1 # The company currently owns six tank trucks and one cargo truck, however, it plans to respond accordingly based on the number of customers by securing additional vehicles. 22,000 ℓ 2 8,000 ℓ 2 5,000 ℓ 1 Cargo Truck-1

Major Business Areas 11 Method of refined oil manufacturing ▶ Medicine (ion) refining method – Production of medicine (ion) refining oil (GW- 200) ▶ Method of refining decompressed steam – Fuel oil refined through decompression and distillation (GW-100) produced ▶ Method of renewable fuel production – Production of renewable fuel oil (GW-300) ▶ The company currently applies medicine (ion) refining and decompression/refining methods (GW-200, GW-100).  Business position

Concept GW-200 (Ionized Refining) Method - To reuse waste oil as fuel oil, water, ashes, and other foreign materials contained in waste oil shall be removed. - The medicine development process involves the introduction of various condensates containing negative ions which will react to elements in waste oil. Metallic salt of heavy molecular weight will be deposited, separated, and dehydrated to produce refined oil. - Waste oil introduced in the process will be heated up to 110~150 ∘ C through heat-transfer boilers. This will circulate through thermal exchangers, distillers and sorters. In the process, water will be removed. Decanters and centrifuges will be applied for the removal of impurities, which will generate refined fuel oil. - To reuse waste oil as fuel oil, water, ashes, and other foreign materials contained in waste oil shall be removed. - The medicine development process involves the introduction of various condensates containing negative ions which will react to elements in waste oil. Metallic salt of heavy molecular weight will be deposited, separated, and dehydrated to produce refined oil. - Waste oil introduced in the process will be heated up to 110~150 ∘ C through heat-transfer boilers. This will circulate through thermal exchangers, distillers and sorters. In the process, water will be removed. Decanters and centrifuges will be applied for the removal of impurities, which will generate refined fuel oil. 12

GW-100 (Decompression and Refining) Method 13 - Waste oil is boiled in the pre-treatment process up to 120 ∘ C to remove water and sludge in waste oil. Under decompressed condition (3~5Toor), the heat media are to be heated up to 250~350 ∘ C. - When heat is applied under decompressed/low-temperature conditions, thermal decomposition of waste oil will not occur, enabling the maintenance of the original physical properties. This is an appropriate condition to make lubricants and no chemical variables are involved, which prevents the generation of impurities and induces quick distillation. This will help to cost heating and fuel costs. - In order to maximize the effects of distillation, a thin film evaporator will be applied to turn waste oil to thin film which will be sprayed. This will maximize the area subject to heat transfer. - When the steam at the top of the distiller, 350~380 ∘ C is condensed through condensers, high-quality alternatives to boiler kerosene will be generated. - Waste oil is boiled in the pre-treatment process up to 120 ∘ C to remove water and sludge in waste oil. Under decompressed condition (3~5Toor), the heat media are to be heated up to 250~350 ∘ C. - When heat is applied under decompressed/low-temperature conditions, thermal decomposition of waste oil will not occur, enabling the maintenance of the original physical properties. This is an appropriate condition to make lubricants and no chemical variables are involved, which prevents the generation of impurities and induces quick distillation. This will help to cost heating and fuel costs. - In order to maximize the effects of distillation, a thin film evaporator will be applied to turn waste oil to thin film which will be sprayed. This will maximize the area subject to heat transfer. - When the steam at the top of the distiller, 350~380 ∘ C is condensed through condensers, high-quality alternatives to boiler kerosene will be generated. Concept

Business registration & waste disposal certificate Business registration 14 waste disposal certificate

Collection of wastes, transport certificate, permits & insurance policies Collection of wastes, transport certificate, permits Collection of wastes, transport certificate, permits 15 insurance policies

Future Business & Direction 16 Promotion of high quality New production methods to be established for differentiation from the existing products Strengthened recycling of resources as the future energy sources Company developing with customers

VISION & GOAL 17 Sales increase through development of new products Stable supply to demanding sources based on the best-quality products Develop into a comprehensive refined oil provider Develop into an environment-friendly company through recylcing of resources GOAL VISION

 THANK YOU. Building Trust Sharing Values Enhancing Distintiveness Customer Needs Customer Share Secure 18