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FCA 10-05 WALSA INTEGRATED AGRICULTURE PROJECT [OCR]

Forest Clearing Authority

Logging companies mentioned in this document:

Concessions mentioned in this document:


                                SCHEDULE 1

                        INDEPENDENT STATE OF PAPUA NEW GUINEA.

                               Forestry Act 1991.
I       Act, Sec. 90B(8).                                        Form
242
        Reg.


          FOREST CLEARING AUTHORITY TO CARRY OUT A LARGE SCALE
CONVERSION OF
                 FOREST TO AGRICULTURE OR OTHER LAND USE
DEVELOPMENT.

        Forest Clearing Authority No: FCA 10-05.

        Agriculture or other land use Development Project;

         WALSA INTEGRATED AGRICULTURE PROJECT, VANIMO GREEN
DISTRICT, SANDAUN
                                     PROVINCE.

        Pursuant to Section 90B(8) of the Forestry Act 1991, and all
other powers it enabling, the Board
        hereby grants a Forest Clearing Authority to PACIFIC GREEN
FOREST LIMITED [Fl 02296] ("the
        Holder")

        This Authority authorises the holder to carry out a large
scale forest clearance for commercial
        agriculture or other land use development within 34,400
hectares of land area described, and
        outlined in red on the map in Schedule 1 ("the Project
Area") for the term specified in Schedule 2
        subject to the Act and to the following terms and
conditions;

         (a) the holder shall, within 21 days, lodge a performance
bond' in accordance with Section 98
             of the Forestry Act 1991 for the amount specified in
Schedule 3.

        (b) the holder shall comply with the terms and conditions
specified in the Schedules herein.

        (c) the holder shall carry out the agriculture or other
land use project in accordance with the
             approved land-use development plan and the approved
implementation schedule
             contained in the holder's application for this
Authority and as agreed to and as may be
             varied by the Board from time to time.

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        (d) the holder shall comply with the conditions of any
Permit, License or other Authority
             relating to the project and with the provisions of all
Environmental and other relevant laws
             of Papua New Guinea.

        (e) the holder shall comply with such other conditions as
are specified in Schedule 4 hereto.


             Dated this 28th      day of September       2015.




                                                                   For the
Board.

             If the Performance Bond is not lodged within 21 days
and no application under Section 98(6) of the Forestry Act has been
             made within 21 days to the Board seeking an extension
of time within which to lodge the Performance Bond then this Forest
             Clearance Authority is deemed void under Section 98(5)
of the Act and thereby cancelled.




                               PAPUA NEW GUINEA FOREST AUTHORITY


                               NATIONAL FOREST SERVICE


                               HEAD OFFICE — FRANGIPANI STREET, HOHOLA.
                               P.O_ BOX 5055, BOROKO.     TELEPHONE:
(675) 327 7800
                               NATIONAL CAPITAL DISTRICT, FACSIM ILE:
(675) 325 4433
                               PAPUA NEW GUINEA.             URL
www.forestry.gov.pg




                                                                   Date: 29th
September 2015
                                                                   File:
157-10-05

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                                                          Ref: JTM:
jtm

The Managing Director
Pacific Green Forest Limited
P 0 Box 1118
WAIGANI
National Capital District

Attention: D.Yung / A.Lim

Dear Sir,

SUBJECT:   FORMAL ISSUANCE OF WALSA INTEGRATED AGRICULTURE PROJECT
(FCA 10-05) —
           PACIFIC GREEN FOREST LIMITED.


This is to formally advice that your entity has been duly issued
with FCA 10-05 (attached) by the National Forest Board
on the 28th of September 2015.

As specified in Schedule 3 of FCA 10-05, you have a duration of 21
days to formally lodge in your required Performance
Bond to the amount of K1.2 million (One Won Two hundred thousand
Kina). In line with the above, you are required to
have lodged in favour of the PNG Forest Authority the mandatory Bond
by the 27th of October 2015.

We look forward to a pleasant working relationship between our two
Organisations.

Yours faithfully,




GOODWILL AMOS
ACTING MANAGING DIRECTOR


Cc:   The Chairman — Midowa Limited
Cc:   Area Manager — Momase
Cc:   The PFO — Sandaun

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