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Log Export Monitoring Monthly Report for December 2020

SGS, February 2021


                                       Log Export Monitoring
                                               Monthly Report
                                                              For

                                               December 2020
                        Log Volume Exported (m3) vs FOB (Kina) - Last 10
                                            Years
              4500000                                                                                     1.4E+09


              4000000
                                                                                                          1.2E+09

              3500000
                                                                                                          1E+09
              3000000
VOLUME (M3)




                                                                                                          800000000




                                                                                                                      FOB (KINA)
              2500000


              2000000                                                                                     600000000

              1500000
                                                                                                          400000000
              1000000

                                                                                                          200000000
               500000
                         2011   2012    2013    2014   2015      2016    2017        2018   2019   2020
                    0                                                                                     0
                                                          YEAR

                                                Year   Volume (m3)      FOB (Kina)

                                                         to the

                        Papua New Guinea Forest Authority

                                                   February 2021

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Tuesday 23rd February 2021

Dear Reader,


          Re: EXPORT LOG MONITORING

Please find attached a copy of the SGS PNG monthly report on its log export monitoring activities for
the month of December – 2020. A comprehensive range of log export statistical tables and results of
the SGS PNG inspection services has been included.

A total of 47 inspections were carried out this month. Of these, serious discrepancies were detected
and corrected for 3 shipments. This represents 6 percent of all shipments. The total volume inspected
was 203,615 m3 for the month. Logs exported without initially being declared for export by exporters
totalled 307 m3. Supplementary declarations by the exporters were required for all these logs, in order
to ensure that The State obtained the full financial benefits of the total log export cargoes.

Financial highlights due to export monitoring for this month are as follows:

  Additional Log Export Development Levy collectable (K)                                                                447
  Additional Customs Duty collectable (K)                                                                            20,649
  Additional Foreign Exchange (K)                                                                                    38,565
  Estimate of Additional Tax Revenue (K)                                                                             11,570

The following table summarises the benefits of the monitoring Agreement to Papua New Guinea for
the year to date, and the previous two years.

                                                                                         2018                    2019                   2020
Direct Project Expenses (K)                                                            8,054,198             7,927,445                7,898,979
Additional Development Levy Payable (K)                                                  104,236                 55,457                  33,594
Additional Customs Duty Payable (K)                                                    2,030,566              1,037,643                 649,020
Additional Tax Payable IRC (K, Estimate)                                               1,422,360                885,258                 428,608
Additional Foreign Exchange (K)                                                        4,629,742              2,113,701               1,428,694

Deterrent Effect (K, additional foreign exch. Estimate)                               63,328,352             62,296,674              45,579,316
Note: 2020 figures are for January to December


SGS has noted a significant decrease in discrepancies over time since surveillance services were
established in late 1994. This on-going ‘deterrent effect’ has been estimated by the PNGFA as five
per cent of the FOB value of log exports.

When reviewing the export and inspections data, it should be noted that not all shipments inspected
during the month were exported before month’s end.

For any change of address or if you would like to add a name to the mailing list or be removed from
the mailing list, please contact the SGS office by email, telephone or fax, at your convenience.
Similarly, please advise if you would prefer to receive an email copy of the report instead of a
printed copy.


Yours faithfully

                     PO Box 1260, Port Moresby, NCD Tel: (675) 323 1433 Fax: (675) 323 1697 E-mail:pg.portmoresby@sgs.com Web:www.sgs.com
                                                                           Member of the SGS Group (Société Générale de Surveillance)

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Bruce Telfer
Managing Director
SGS PNG Ltd
Port Moresby




              PO Box 1260, Port Moresby, NCD Tel: (675) 323 1433 Fax: (675) 323 1697 E-mail:pg.portmoresby@sgs.com Web:www.sgs.com
                                                                    Member of the SGS Group (Société Générale de Surveillance)

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                           Highlights of Log Exports in 2020


1.   In 2020, China continued to be the major export destination, taking eighty-one per cent of the total
     volume, followed by Vietnam with seven per cent. (See Graph 1)

2.   This year, log volumes shipped out of East New Britain Province amounted to twenty-two per cent of
     the yearly total, the highest for the year followed by West New Britain with (20 per cent) then New
     Ireland (15 per cent). West Sepik province achieved the highest FOB in Kina for the year, as a result of
     more kwila exports. (See Graph 2)

3.   The highest log volumes for export came from Konoagil FCA project in 2020, followed by Aitape
     Lumi FMA then, Taraiwara FCA. (See Graph 3).

4.   KK Connections Ltd topped the log volume export with 225,307 m3 shipped this year, followed by
     Cakara Alam (PNG) Ltd (210,017) m3 and Pacific Region Development Ltd with 201,741 m3.
     Amanab Forest Products Ltd achieved the highest FOB in Kina for the year. (See Graph 4).

5.   In 2020, group one specie continued to be the major log group shipped at sixty-eight per cent of the
     total export volume, followed by group four at twelve per cent. (See Graph 5)

6.   Eighty-three per cent of the total shipped volumes were rainforest saw veneer logs. Low grade log
     export amounted to fifteen per cent and plantation was at two per cent. (See Graph 6).

7.   Forest Clearance Authority (FCA) contributed twenty-four per cent of the total log volume export in
     2020, with the highest of 138,647 m3 coming from Konoagil Integrated Agriculture FCA. Timber
     Permit (TP) projects contributed almost half the log export for the year. (See Graph 7)

8.   In 2020, taun was the dominant group 1 species exported at thirty-one percent followed by kwila at
     fourteen per cent and, calophyllum at eleven per cent. (See graph 8 & 9)

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Graph 1

                                                      Log Exported Volume (m3) by Destination for 2020
                                                                         Volume (m3)         FOB (Kina)



              2,500,000.00                                                                                                                  800,000,000.00
                             2,354,743.05


                                                                                                                                            700,000,000.00

              2,000,000.00
                                                                                                                                            600,000,000.00



                                                                                                                                            500,000,000.00
              1,500,000.00
VOLUME (M3)




                                                                                                                                                             FOB (KINA)
                                                                                                                                            400,000,000.00


              1,000,000.00
                                                                                                                                            300,000,000.00



                                                                                                                                            200,000,000.00
               500,000.00

                                                                                                                               207,769.99   100,000,000.00
                                            103,545.97                                 77,377.98
                                                           53,378.51   37,263.54                      17,680.25    39,375.69
                     0.00                                                                                                                   0.00
                                China         India         Japan       Korea          Malaysia      South Korea    Taiwan      Vietnam

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Graph 2

                                                        Log Exported Volume (m3) by Province for 2020
                                                                                        Volume (m3)         FOB (Kina)

                700,000.00                                                                                                                                                  250,000,000.00
                                      646,231.23                                                                                             West Sepik, 232,594,710.00


                                                                                                                                       596,858.34
                600,000.00

                                                                                                                                                                            200,000,000.00


                500,000.00

                                                                                                                   430,484.52
                                                                                                                                                                            150,000,000.00
                400,000.00                                                                                                                           387,272.60
  VOLUME (M3)




                                                                                                                                                                                             FOB (KINA)
                300,000.00
                                                                                                                                                                            100,000,000.00
                                                                                                                                                               220,593.62

                200,000.00
                             142,490.35
                                               124,934.50                                               123,492.38                                                          50,000,000.00

                100,000.00
                                                            61,295.49                           60,263.05
                                                                        37,070.04                                              43,712.82
                                                                                    16,436.05
                      0.00                                                                                                                                                  0.00
                              Central East New East Sepik     Gulf      Madang       Manus Milne Bay Morobe            New       Oro        West       West       Western
                                       Britain                                                                       Ireland                New        Sepik
                                                                                                                                           Britain
                                                                                            PROVINCE

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                     Graph 3

                                                                          Log Exported Volume (m3) by Project for 2020
                                                                                                  Volume (m3)            FOB (kina)

                    160,000.00                                                                                                                                                    100,000,000.00

                                         Amanab Blocks 1-4 FMA (61001),
                                                93,596,029.00                   Konoagil Inter.Agri.Proj. (FCA 71603),
                                                                                             138,647.40                                                                           90,000,000.00
                    140,000.00
              Aitape Lumi Consolidated FMA (61003),
                           124,650.61                                                                                                 Taraiwara(Ext) Agro Reforest.(FCA 71514),
                                                                                                                                                                                  80,000,000.00
                                                                                                                                                     120,605.89
                    120,000.00

                                                                                                                                                                                  70,000,000.00


                    100,000.00
                                                                                                                                                                                  60,000,000.00
VOLUME (M3)




                                                                                                                                                                                                   FOB (KINA)
                     80,000.00                                                                                                                                                    50,000,000.00



                                                                                                                                                                                  40,000,000.00
                     60,000.00


                                                                                                                                                                                  30,000,000.00

                     40,000.00

                                                                                                                                                                                  20,000,000.00


                     20,000.00
                                                                                                                                                                                  10,000,000.00



                          0.00                                                                                                                                                    0.00




                                                                                                           PROJECT

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                                                                                                                           VOLUME (M3)




                                                    0.00
                                                                                                           100,000.00
                                                                                                                                               150,000.00
                                                                                                                                                                               200,000.00
                                                                                                                                                                                                                                                                                                                                               250,000.00




                                                                           50,000.00
                                  Agri Bisnis Ltd
            Amanab 56 Timber Investments Ltd
                                                                                                                                                                                                                                                                                                                                                                                                                              Graph 4




                   Amanab Forest Products Ltd
                         Aset Meriah (PNG) Ltd
                        Bismarck Industries Ltd
            Border International Timber Co. Ltd
                         Cakara Alam (PNG) Ltd
                            Canopus No. 16 Ltd
                             Chain Reaction Ltd
                        Continental Alliance Ltd
                             DD Investment Ltd
              East Papua Timber Resources Ltd
                        Everwin Enterprises Ltd
                         Galeo South Pacific Ltd
                              GL Niugini Pty Ltd
                                Global Elite Ltd
                                                                                                                                                                                                                                                                                                   Amanab Forest Products Ltd, 93,596,029.00




                    Golden Rise Investment Ltd
                                                                                                                                                                                                                              Cakara Alam (PNG) Ltd, 210,017.94




                             IFL Investment Ltd
                    Island Forest Resources Ltd
           Joinland Management (PNG) Limited
                         Kinmas Investment Ltd
                            KK Connections Ltd
                             KL Connections Ltd
                               Laloani No.8 Ltd
                            Lawrence Wood Ltd
                                Logohu Limited
                        Low Impact Logging Ltd
                             Lucky 99 (PNG) Ltd
                          Lucky Logging Limited
                             Maxland (PNG) Ltd
                                                                                                                                                                                                                                                                                                                                                                Volume (m3)




                          Mekar (PNG) Limited




EXPORTER
                                                                                                                                                                                                                                                                  KK Connections Ltd, 225,307.06




                    Millennium Corporation Ltd
                    Millionplus Corporation Ltd
                                 Milton Limited
                         Musa Century Limited
           Niugini International Corporation Ltd
                 Niugini Lumber Merchants Ltd
                  Northern Forest Products Ltd
                                                                                                                                                                                                                                                                                                                                                                FOB (Kina)




                          Open Bay Timber Ltd
                         Oro Wood Industry Ltd
                Pacific Region Development Ltd
                           PJ Plantation Limited
                    Reach Niugini Construction
                                                                                                                                                                                                                                                                                                                                                                              Log Exported Volume (m3) by Exporter for 2020




                                Reko (PNG) Ltd
                          Saban Enterprises Ltd
                                      Samas Ltd
                           Sentawan (PNG) Ltd
                             Sinaran Papua Ltd
                     Stettin Bay Lumber Co. Ltd
                        Summit Agriculture Ltd
                               Sunland Limited
                               Super Green Ltd
           Tangoy Vivafounder Holdings Limited
                               Tzen Niugini Ltd
                                                                                                                                                                                 Pacific Region Development Ltd, 201,741.36




                                Tzen Pacific Ltd
                               Vanimo Jaya Ltd
                               Viva Success Ltd
                            VJ Holdings Limited
                    Wawoi Guavi Timber Co Ltd
                         Wood Man Timber Ltd
                                                    0.00
                                                           10,000,000.00
                                                                           20,000,000.00
                                                                                           30,000,000.00
                                                                                                           40,000,000.00
                                                                                                                               50,000,000.00
                                                                                                                                               60,000,000.00
                                                                                                                                                               70,000,000.00
                                                                                                                                                                               80,000,000.00
                                                                                                                                                                                                                                                                    90,000,000.00
                                                                                                                                                                                                                                                                                                                                               100,000,000.00




                                                                                                                            FOB (KINA)

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Graph 5

                                                               Log Exported Volume (m3) by specie group for 2020

                                                                                    Group 4, 352,006.45, 12%


                                                                           Group 3, 290,158.36, 10%

                                                                                      Group 2, 275,228.46, 10%


                                                                                                           Group 1, 1,973,741.72, 68%




                                                                                 Group 1         Group 2         Group 3         Group 4


Graph 6

                                                        Log Exported Volume (m3) by Spp. Grade for 2020
                                                                                             Volume (m3)               FOB (Kina)

               3,000,000.00                                                                                                                                                                   900,000,000.00
                                                                                                                                                                                              800,000,000.00
               2,500,000.00
                                                                                                                                                                                     2,387,570.22
                                                                                                                                                                                              700,000,000.00
 VOLUME (M3)




               2,000,000.00                                                                                                                                                                   600,000,000.00




                                                                                                                                                                                                               FOB (KINA)
                                                                                                                                                                                              500,000,000.00
               1,500,000.00
                                                                                                                                                                                              400,000,000.00
               1,000,000.00                                                                                                                                                                   300,000,000.00
                                                                                                                                                                                              200,000,000.00
                500,000.00           432,990.52                                                                                                                                               100,000,000.00
                      0.00                                730.65               9,837.11             27,653.65            20,783.98            5,584.28             5,984.58                   0.00
                              Low grade     Plantation diam 00 - Plantation diam 20 - Plantation diam 30 - Plantation diam 40 - Plantation diam 50 - Plantation diam 60+      Saw/Veneer
                                                  19 cm: li            29 cm: ti           39 cm: ba            49 cm: su            59 cm: sm           cm: regular
                                                                                                  SPECIE GRADE

Page 9 screenshot
Graph 7

                                        LOG VOLUME EXPORTED (M3) BY PERMIT TYPES FOR 2020

                    FMA, 467985.227, 16%
                                                                                            FCA, 683134.336, 24%

                 TL, 66004.344, 2%

             LFA, 271147.287, 9%
                                                                                                         TA, 50601.453, 2%




                                                              TP, 1352262.332, 47%


Graph 8

          Log Exported Volumes (m3) of Group 1 Spp for 2020
                                  Terminalia     White Planchonella         Burckella
                                     7%                 1%                     2%

                Teak (b) tiny small (plntn)
                            0%
                                                                                              Dillenia
                    Teak (a) little small                                  Calophyllum
                                                                                                6%
                          (plntn)                                              11%
                            0%                                                                     Erima
                                                                                                    3%           Grey Canarium
                                                                                                                      1%
                                               Taun                                                        Hekakoro
                                               31%                                                           0%

                                                                                           Kwila
                                                                                           14%



                                                                               Malas
                                   Red Planchonella                                         Lophopetallum/Perupok
                                                                                9%
                                          0%                                                         0%
                             Red Canarium        PNG Walnut                              Pencil
                                  3%                2%                PNG Mersawa        Cedar
                                                                          4%              5%

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                                         100,000.00
                                                                               200,000.00
                                                                                                                                 300,000.00
                                                                                                                                                          400,000.00
                                                                                                                                                                       500,000.00
                                                                                                                                                                                    600,000.00
                                                                                                                                                                                                                    700,000.00




                                  0.00
                          Aglaia
          Amoora/Pacific Maple
                   Barringtonia
                Black Mangrove
                                                                                                                                                                                                                                                                                              Graph 9




                  Brown Albizia
                  Brown Wattle
                       Burckella
                   Calophyllum
                        Cananga
                         Carallia
           Cryptocarya/Medang




                                                                                                       Calophyllum, 209,868.72
                       Drypetes
                          Dysox
                          Erima
                    Euodia Light
                      Flacourtia
                         Garuga
          Gmelina/White beech
                       Gordonia
                 Grey Canarium
                  Hard Alstonia
                       Hekakoro
                      Hernandia
                      Hopea Light
                               Ilex
                        Kamarere
Kamarere (b) baby small (plntn)
    Kamarere (d) small (plntn)
 Kamarere (f) little small (Plntn)
                           Kapiak
                  Kingiodendron
                             Kwila
                       Light Celtis
      Lophopetallum/Perupok
                                                                                                                                      Kwila, 282,297.07




                          Malaha
                           Mango
                  Mangrove Red
                                                                                                                                                                                                                                 Volume (m3)




                                                                                   Malas, 178,859.37




                        Manilkara
                  Maple Scented
                       Neuburgia
              Oriomo Redwood
                         Pangium
                    Paratocarpus
                Pimeleodendron
                 Pink Satinwood
                       Planchonia
                   PNG Boxwood
                                                                                                                                                                                                                                               Log Exported Volume (m3) by Species for 2020




                PNG Coachwood
                    PNG Kempas
                   PNG Mersawa
                PNG Swamp Box
                     PNG Walnut
                           Prunus
                   Red Canarium
                       Red Oak
                   Red Wattle
                  Saffronheart
                Scrub Ironbark
         She Oak (Casuarina)
              Silkwood Maple
                       Sloanea
                      Sterculia
                      Tea Tree
    Teak (b) tiny small (plntn)
                                                                                                                                                                                                 Taun, 605,827.03




                   Tetrameles
                    Tristiropsis
                 Vatica (Resak)
                                                      Terminalia, 140,207.73




                   Water Gum
                  White Albizia
White Cheesewood/Milky pine
          White Planchonella
              White Tulip Oak
            Yellow Hardwood

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                       Table of Contents
                                Reports
                                                                       pages
                                                           3
1.    Log Exports Monthly Summary for 2020: Volumes (m ),
      FOB Values (USD and Kina) and Duty Payable (Kina)                 1-1

2.    Monthly Actual Shipped Volumes (m3) by Log Grades
      and Species/Groups                                          2-1 to 2-4

3.    Monthly Export Log Revenues (K’000) by Log Grades
      and Species/Groups                                          3-1 to 3-4

4.    Monthly Export Log Revenues (USD’000) by Log Grades
      and Species/Groups                                          4-1 to 4-4

5.    Monthly Average Actual Export Prices (Kina) by Log
      Grades and Species/Groups                                   5-1 to 5-4

6.    Monthly Average Actual Export Prices (USD) by Log
      Grades and Species/Groups                                   6-1 to 6-4

7.    Mean Monthly Endorsed Prices (USD) by Log Grades
      and Species/Groups                                          7-1 to 7-4

8.    Monthly Endorsed Volumes (m3) by Log Grades and
      Species/Groups                                              8-1 to 8-3

9.    Monthly Actual Shipped Volumes (m3) by Log Grade
      and Destination                                             9-1 to 9-3

10.   Monthly Average Actual Export Prices (USD) by Log
      Grade and Destination                                     10-1 to 10-3

11.   Monthly Actual Shipped Volumes (m3) by Export
      Company and Project                                      11-1 to 11-11

12.   Log Exports by Project Site (Volume and Value) for
      December - 2020, and Year to Date                        12-1 to 12-15

13.   Log Exports (Volume and Kina Value) by Province for
      December – 2020, and Previous Periods                            13-1

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14.   Log Export Volumes and Prices by Destination, Grade
      and Group, for December – 2020                         14-1 to 14-2

15.   Log Export Volumes and Prices by Destination and
      Grade for Group 1 Species, for December - 2020        15-1 to 15-2

16.   Monthly Discrepancy Report for December – 2020        16-1 to 16-3

17.   Shipment Duty Calculation Comparison Summary
      for December – 2020                                   17-1 to 17-5

18.   Revenue, Banking, Document and Shipment Details
      for Log Exports by Exporting Company, Project Site
      and Shipment for December – 2020                      18-1 to 18-7

19.   Substantial Log Export Permit Discrepancies in Log
      Volumes Loaded for Export for December - 2020         19-1 to 19-5

20.   Monthly Document Delays for December - 2020           20-1 to 20-3

21.   Log Export Average Prices by Log Grades, Groups
      and Species and by Log Exporter Parent Companies,
      for December – 2020                                   21-1 to 21-8

22.   Annual Project Quotas and Log Exports, Year to
      Date: December - 2020                                  22-1 to 22-5

23.   General Conditions of Service                                 23-1

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                             Log Export Statistics
                                                and
                       Export Monitoring
                           Highlights
                                December 2020
1.   This Report is a post facto summary of log export shipment inspections and log exports for the month
     of December 2020. Individual Log Inspection Reports (LIRs) have been prepared for each shipment
     immediately following the completion of loading. The LIR is forwarded directly to the PNGFA Project
     Supervisor if on site, and to the nominated Boarding Officer for clearance of the vessel. Data in this
     report are based on the LIRs, and post-shipment/commercial documents submitted by exporting
     companies, for Log Export Permits issued by the Papua New Guinea Forest Authority (PNGFA).

2.   Log exports for the month of December 2020 amounted to 210,841 m3 in 39 shipments. (see,
     Report No. 1). Foreign exchange earnings were equivalent to USD24.68 million, with a local
     currency value of K84.46 million.

3.   Log volumes endorsed in December for export amounted to a total of 226,965 m3, this
     volume decreased slightly by 5 per cent compared to the previous month. (See Report
     Number 8).

4.   Log export duty collectable by the PNG Customs Services total K38.37 million for the month, with an
     additional K1.63 million payable as export levy (see Report No. 1).

5.   The monthly weighted average f.o.b. invoiced price for all saw/veneer rainforest logs was
     USD125.52/m3 (November 2020: USD88.56/m3), and for all logs was USD117.06/m3 (see Report No.
     6). Average prices for the high value species which includes taun, pencil cedar, calophyllum, kwila and
     PNG mersawa remained generally steady for this month.

6.   Rainforest round logs were exported to two countries in December 2020, predominantly to
     China again (85.5) per cent of the total log export volume while India imported (14.5) per
     cent. (See Report No. 9).

7.   During December 2020, WTK Realty Ltd group of companies was the major exporter with (22.9) per
     cent of the total volume export followed by Amanab 56 Timber Investment Ltd with (13.2) per cent
     and KK Connections Ltd group of companies with (11.5) per cent. (See Report No. 11 and Report No.
     12 for more).

8.   Logs were exported from seven provinces during December 2020, with West Sepik Province being the
     major exporter with (27.4) per cent of the monthly total, followed by East New Britain (26.8) per cent
     and West New Britain Province with (16.4) per cent. (See Report No. 13).

9.   SGS PNG Inspectors reported major discrepancies for 10 shipments of logs inspected during
     December 2020. These discrepancies included 92 logs not declared for export which were
     loaded onto vessels, and 1 log for which the species had been mis-declared. (see Report No.
     16, page 16-3)


                                  Executive Summary Page 1 of 2

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Full details of each discrepancy for each shipment are recorded at site on a ‘Notice of Discrepancy’ which is
countersigned by the Exporter, with a copy to the PNGFA’s Project Supervisor at the time of pre-shipment
checking or at loading. A copy of the final ‘Log Inspection Report’ which includes all Notices of Discrepancy
is made available to the PNGFA Boarding Officer at the time of clearance of each vessel for sailing.

Also, in accordance with the well-established log inspection practices, for all logs with a mis-declared species
code, the Exporters are required to endorse the ‘Notice of Discrepancy;’ withdraw the log or correct the species
code on their log tallies and summaries; and ensure that these changes are incorporated into their invoice
documentation. Similarly, for all loaded logs that SGS PNG inspectors detect as being ‘undeclared for export,’
the Exporters are required to sign a Notice of Discrepancy; make a supplementary declaration of these logs; add
the log volumes to their log tallies and summaries; and incorporate the additional volumes into the
documentation relating to Bills of Lading, Invoices and Customs Entries for the collection of export duties and
levies. By immediately correcting the errors as they are detected by SGS inspectors, the State maximizes its
returns from log exports

10.     Updated information on log export quota periods has not yet been made available for the
        various log export projects, and hence the monitoring of export quotas is not presently
        practicable (see Report Number 22).

11.     In December 2020, KK Connections Ltd was the major exporter of low-grade logs
        with (22.1) per cent of the monthly total, shipped at an average FOB of USD40.00,
        followed by Kinmas Investment Ltd with (17.0) per cent and PJ Plantation Ltd (15.9)
        per cent. All of these low-grade natural logs were exported to China. (see report 9 &
        21)

12.     This December, there were substantial log export permit discrepancies in log volumes loaded for export
        by various exporters where some discrepancies were over 200 per cent, including over loading of
        terminalia by 888 per cent under PNGFA export permit number 2012007 by Canopus N0.16 Ltd. (see
        report 19)

13.     Various exporting companies have invoiced and paid a higher export duty this Month, including over
        payment of K103,553.00 by Vanimo Jaya Ltd under PNGFA export permit number 2011073. (See
        report 17).

14.     Cakara Alam (PNG) Ltd underpaid levy by K37,079.00 under PNGFA export permit number 2011025
        this month. (See report 17)




                                      Executive Summary Page 2 of 2

Page 15 screenshot
    Log Exports Monthly Summary for 2020:
  Volumes (m3), FOB Values (USD and Kina) and
              Duty Payable (Kina)
Report printed: 29/01/2021 1:08:49 pm




                                  Volume        Value           Value       Duty (K)           Levy (K)
Month
                                     (m3)     FOB (USD)        FOB (K)       Payable            Payable

January                            264,374     23,567,007    78,318,324    34,705,011           2,051,723

February                           241,947     23,296,577    77,420,058    35,870,448           1,912,983

March                              250,512     23,649,975    78,811,446    35,863,442           2,001,617

April                              210,640     17,083,427    57,292,284    25,041,866           1,676,381

May                                233,143     23,673,744    79,555,493    37,042,635           1,865,145

June                               289,566     23,807,721    80,282,516    32,267,512           2,140,164

July                               210,922     23,113,119    78,203,108    36,448,642           1,687,374

August                             196,475     16,164,431    54,778,091    21,576,025           1,469,985

September                          139,533     13,719,535    46,746,704    20,064,885           1,051,727

October                            310,781     30,495,280   103,920,185    46,082,239           2,473,815

November                           332,400     26,900,219    91,797,691    37,571,057           2,600,561

December                           210,841     24,682,016    84,460,429    38,366,642           1,633,011


Year to Date                   2,891,135      270,153,051   911,586,330   400,900,404          22,564,486




Report Number 1:          Page 1 of 1 pages                                             1- 1

Page 16 screenshot
    Monthly Actual Shipped Volumes (m3) by Log Grades
                    and Species/Groups

Log Grade:                 Saw/Veneer
                                                                                   Month                                                     12-month
Species / Group
                            12/20        11/20    10/20       9/20     8/20     7/20     6/20     5/20     4/20     3/20    2/20     1/20       total

Burckella                   1,649    4,135        2,944      1,445    1,635    2,220    2,785    2,957    4,549    3,527    5,188    3,602      36,636
Calophyllum               12,096    30,919       17,655      4,803   12,802   10,230   21,818   10,302    7,407   11,020   14,038   20,794     173,883
Dillenia                    2,798    7,505       12,964      6,511    3,716    5,247   11,202    7,818    5,340    6,940   13,411   11,798      95,250
Erima                       1,665    5,969        3,735       345     2,079     813     2,404    4,487    4,319    6,346    4,720    5,254      42,137
Grey Canarium                 730    4,499        2,596       384     1,472     814     4,678    1,192     900     1,443    1,381    5,735      25,824
Hekakoro                       45          22      176                    4        2        2     772       25      790               303        2,141
Kwila                     58,008    18,352       55,894     15,068    8,984   39,469   10,189   29,738    1,192   19,857   16,339    7,961     281,051
Lophopetallum/Perupok         385    1,289         366        154      920      405      541      591      589      758      577      999        7,574
Malas                       6,631   10,538       15,756      8,936   10,068   10,253    9,731   11,048   16,774   12,878   19,990   25,481     158,085
Pencil Cedar                3,599   13,609        6,664      3,946    4,530    3,983   11,291    5,975    5,658    6,054    5,541    9,756      80,605
PNG Mersawa                          5,963        3,412      2,425    2,333    1,121    3,640    6,000    5,878    3,128   10,062    6,309      50,272
PNG Walnut                  2,341    5,624        3,547      1,330    1,896    2,565    2,949    3,590    2,678    4,443    2,355    2,931      36,249
Red Canarium                3,622    6,398        4,685      2,349    2,756    3,446    4,034    5,739    3,877    7,455    4,843    6,874      56,077
Red Planchonella              127         751      564           7     486      226      561      253      307      290      389      442        4,403
Taun                      33,038    53,974       40,972     39,500   28,928   40,750   36,592   38,732   45,356   48,378   37,606   43,210     487,037
Terminalia                  7,708   18,346        9,658      7,699    8,950    5,945    9,070    8,202    7,519    9,555   12,448   13,500     118,601
White Planchonella            685    1,321         533         77      570      402      630      823      824      857      670     1,476       8,870

Field98:
Group 1 Species Total    135,129 189,214 182,121            94,979   92,129 127,891 132,120 138,220 113,190 143,721 149,556 166,425          1,664,695
Field98:
Group 2 Species Total       7,999   18,526       10,289      3,389   17,272    7,541   24,755   14,193   17,219   22,525   19,797   14,522     178,026
Field98:
Group 3 Species Total     12,777    25,542       24,400      3,743   20,408   15,751   26,470   26,390   17,593   23,670   26,280   23,200     246,224

Field98:
Group 4 Species Total     25,520    30,089       28,550      7,150   23,884   21,343   27,488   25,087   28,028   33,416   24,774   23,297     298,625


Grade Total (m3)         181,424 263,372 245,359 109,260 153,693 172,526 210,834 203,889 176,030 223,331 220,408 227,444                     2,387,570



Log Grade:                 Plantation diam 60+ cm: regular
                                                                                   Month                                                     12-month
Species / Group
                            12/20        11/20    10/20       9/20     8/20     7/20     6/20     5/20     4/20     3/20    2/20     1/20       total

Erima                                                                                                                         18                      18
Group 2 Species               236                  540       1,107    1,957              191               503      273              1,160       5,967

Field98:
Group 1 Species Total                                                                                                         18                      18
Field98:
Group 2 Species Total         236                  540       1,107    1,957              191               503      273              1,160          5,967


Grade Total (m3)              236                  540       1,107    1,957              191               503      273       18    1,160        5,985




Report Number 2:     Page 1 of 4 pages      Date Printed:               16/02/2021 8:40:35 am                                                2- 1

Page 17 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Log Grades and Species/Groups          continued



Log Grade:                    Plantation diam 50 - 59 cm: small
                                                                                   Month                                                12-month
Species / Group
                              12/20        11/20   10/20      9/20    8/20      7/20      6/20     5/20   4/20   3/20   2/20     1/20      total

Erima                                                                                                                     11                     11
Group 2 Species                 706         199      255       959    1,668              1,254            169     37       5     322        5,574

Field98:
Group 1 Species Total                                                                                                     11                     11
Field98:
Group 2 Species Total           706         199      255       959    1,668              1,254            169     37       5     322           5,574


Grade Total (m3)                706         199      255       959    1,668              1,254            169     37      15     322       5,584



Log Grade:                    Plantation diam 40 - 49 cm: super small low grade
                                                                                   Month                                                12-month
Species / Group
                              12/20        11/20   10/20      9/20    8/20      7/20      6/20     5/20   4/20   3/20   2/20     1/20      total

Group 2 Species                                                                          2,276
Field98:
Group 2 Species Total                                                                    2,276                                                 2,276

Grade Total (m3)                                                                         2,276                                             2,276



Log Grade:                    Plantation diam 40 - 49 cm: super small
                                                                                   Month                                                12-month
Species / Group
                              12/20        11/20   10/20      9/20    8/20      7/20      6/20     5/20   4/20   3/20   2/20     1/20      total

Terminalia                                                       1                                                                                1
Group 2 Species               2,015    3,239         188      1,967   3,729              5,852            119             56    1,341      18,507

Field98:
Group 1 Species Total                                            1                                                                                1
Field98:
Group 2 Species Total         2,015    3,239         188      1,967   3,729              5,852            119             56    1,341      18,507


Grade Total (m3)              2,015    3,239         188      1,968   3,729              5,852            119             56    1,341     18,508



Log Grade:                    Plantation diam 30 - 39 cm: baby small
                                                                                   Month                                                12-month
Species / Group
                              12/20        11/20   10/20      9/20    8/20      7/20      6/20     5/20   4/20   3/20   2/20     1/20      total

Group 2 Species               2,353    3,764                  3,061   4,282            10,512                3           719    2,960      27,654

Field98:
Group 2 Species Total         2,353    3,764                  3,061   4,282            10,512                3           719    2,960      27,654

Grade Total (m3)              2,353    3,764                  3,061   4,282            10,512                3           719    2,960     27,654



Log Grade:                    Plantation diam 20 - 29 cm: tiny small
                                                                                   Month                                                12-month
Species / Group
                              12/20        11/20   10/20      9/20    8/20      7/20      6/20     5/20   4/20   3/20   2/20     1/20      total

Teak (b) tiny small (plntn)     543                  381                                                  227            477     544        2,172
Group 2 Species                 698         128                972    1,091              1,959                          1,348   1,469       7,665

Field98:
Group 1 Species Total           543                  381                                                  227            477     544           2,172
Field98:
Group 2 Species Total           698         128                972    1,091              1,959                          1,348   1,469          7,665


Grade Total (m3)              1,240         128      381       972    1,091              1,959            227           1,826   2,013      9,837




Report Number 2:       Page 2 of 4 pages      Date Printed:             16/02/2021 8:40:47 am                                           2- 2

Page 18 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Log Grades and Species/Groups             continued



Log Grade:                     Plantation diam 00 - 19 cm: little small
                                                                                      Month                                                        12-month
Species / Group
                                12/20       11/20    10/20       9/20     8/20     7/20      6/20       5/20     4/20     3/20    2/20      1/20      total

Teak (a) little small (plntn     165                  190                                                         71               156      112           694
Group 2 Species                                                                                  2                                  35
Field98:
Group 1 Species Total            165                  190                                                         71               156      112           694
Field98:
Group 2 Species Total                                                                            2                                  35                     36


Grade Total (m3)                 165                  190                                       2                 71               191      112           731



Log Grade:                     Low grade
                                                                                      Month                                                        12-month
Species / Group
                                12/20       11/20    10/20       9/20     8/20     7/20      6/20       5/20     4/20     3/20    2/20      1/20      total

Burckella                        173         716      643        328      663      567      1,022       802     1,138    1,488     196      230        7,964
Calophyllum                     1,102    7,574       4,680      1,175    4,404    1,876     6,068      2,843    2,037    1,163    1,557    1,507      35,985
Dillenia                        1,857    2,282       3,773       425     1,728     127      2,076      1,003     419      136     1,400     601       15,826
Erima                            184     1,594        970         82      208     1,334     1,099       249      392      859       95      116        7,182
Grey Canarium                    193         862      168         41      193      222        218        96      130      203       93      371        2,790
Hekakoro                                       3      167                                                           2      92                  1          265
Kwila                            862          24        4         58                65        104        49                71                  9       1,246
Lophopetallum/Perupok             81         371       49         31      186      292        211        64      132      163       47      391        2,018
Malas                           1,118    1,472       5,428       478     2,129    1,343     3,476       919     1,835    1,514     894      168       20,774
Pencil Cedar                     774     2,447       4,593       932     1,354    1,209     2,339       684      751      656      208     1,643      17,590
PNG Mersawa                      311     2,603       2,701      2,451     764     1,253     7,676      5,484    1,003    1,772     430     6,321      32,768
PNG Walnut                       345     1,167       1,216       390      264      883        516       182      517      910       32      210        6,634
Red Canarium                     481     1,998       1,406       634     1,059    1,221     1,670       489      869     1,047    1,076     535       12,486
Red Planchonella                  56          63      140         21      100      145         91          7      54      134                 29          840
Taun                           10,168   16,305      14,821     10,549    6,549   12,977   11,764       6,947   11,319    5,094    7,211    5,085     118,790
Terminalia                       403     5,086       2,660       904     1,652    1,888     3,939       467     1,111    1,137    1,330    1,029      21,606
White Planchonella                45         179       75         33      105      268        133        57       89      306       12        82       1,386

Field98:
Group 1 Species Total          18,153   44,748      43,493     18,533   21,359   25,670   42,402      20,342   21,799   16,745   14,580   18,327     306,151
Field98:
Group 2 Species Total            744     4,351       2,671      1,150    3,913    1,322     2,992      2,634    4,575    1,273    1,627    2,272      29,523
Field98:
Group 3 Species Total           1,946    5,223       9,621      1,229    2,059    4,769     4,860      2,962    2,803    3,442    1,154    3,867      43,935

Field98:
Group 4 Species Total           1,859    7,377       8,083      1,293    2,723    6,635     6,433      3,316    4,341    5,411    1,354    4,557      53,381


Grade Total (m3)               22,702   61,699      63,867     22,205   30,055   38,396   56,687      29,254   33,518   26,871   18,715   29,022    432,991




Report Number 2:        Page 3 of 4 pages      Date Printed:               16/02/2021 8:40:54 am                                                   2- 3

Page 19 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Log Grades and Species/Groups             continued



Product                         All logs
                                                                                      Month                                                        12-month
Species / Group
                                 12/20      11/20    10/20       9/20     8/20     7/20      6/20       5/20     4/20     3/20    2/20     1/20       total

Burckella                        1,822    4,852      3,587      1,773    2,299    2,786     3,807      3,758    5,687    5,016    5,383    3,832      44,600
Calophyllum                     13,198   38,493     22,335      5,978   17,206   12,106   27,886      13,145    9,444   12,182   15,595   22,300     209,869
Dillenia                         4,655    9,787     16,736      6,936    5,443    5,373   13,278       8,821    5,759    7,076   14,811   12,400     111,076
Erima                            1,849    7,563      4,706       427     2,287    2,147     3,503      4,737    4,711    7,205    4,843    5,369      49,347
Grey Canarium                     923     5,361      2,764       424     1,665    1,036     4,896      1,288    1,030    1,646    1,474    6,106      28,614
Hekakoro                           45         24      343                    4        2         2       772       26      883               304        2,406
Kwila                           58,871   18,376     55,898     15,126    8,984   39,534   10,294      29,787    1,192   19,928   16,339    7,970     282,297
Lophopetallum/Perupok             466     1,659       415        186     1,106     697        752       655      720      921      624     1,390       9,591
Malas                            7,749   12,011     21,184      9,414   12,197   11,596   13,207      11,968   18,608   14,392   20,884   25,649     178,859
Pencil Cedar                     4,373   16,057     11,257      4,877    5,883    5,192   13,630       6,658    6,409    6,710    5,748   11,399      98,195
PNG Mersawa                       311     8,566      6,113      4,876    3,097    2,374   11,316      11,484    6,882    4,900   10,492   12,630      83,040
PNG Walnut                       2,686    6,791      4,763      1,720    2,160    3,449     3,466      3,772    3,196    5,353    2,387    3,141      42,884
Red Canarium                     4,102    8,396      6,090      2,983    3,815    4,667     5,704      6,228    4,746    8,502    5,919    7,409      68,563
Red Planchonella                  184        814      703         28      586      370        652       260      361      424      389      472        5,243
Taun                            43,206   70,279     55,793     50,050   35,477   53,727   48,357      45,679   56,675   53,472   44,816   48,295     605,827
Teak (a) little small (plntn      165                 190                                                         71               156      112           694
)
Teak (b) tiny small (plntn)       543                 381                                                        227               477      544        2,172
Terminalia                       8,111   23,433     12,318      8,604   10,602    7,833   13,010       8,669    8,630   10,692   13,778   14,529     140,208
White Planchonella                731     1,500       608        110      675      671        763       880      914     1,164     682     1,558      10,256

Field98:
Group 1 Species Total          153,990 233,962 226,184 113,512 113,488 153,561 174,522 158,562 135,288 160,466 164,799 185,408                     1,973,742
Field98:
Group 2 Species Total           14,750   30,207     13,944     12,605   33,912    8,863   49,793      16,826   22,588   24,108   23,587   24,046     275,228
Field98:
Group 3 Species Total           14,722   30,765     34,021      4,973   22,468   20,520   31,330      29,352   20,395   27,111   27,434   27,066     290,158

Field98:
Group 4 Species Total           27,379   37,466     36,632      8,443   26,607   27,978   33,921      28,403   32,369   38,827   26,128   27,853     352,006


Grand Totals (m3)              210,841 332,400 310,781 139,533 196,475 210,922 289,566 233,143 210,640 250,512 241,947 264,374                     2,891,135




Report Number 2:        Page 4 of 4 pages      Date Printed:               15/02/2021 1:16:14 pm                                                   2- 4

Page 20 screenshot
     Monthly Export Log Revenues (K'000) by Log Grades
                     and Species/Groups
Log Grade:                    Saw/Veneer
                                                                                      Month                                                      12-month
Species / Group
                               12/20        11/20    10/20      9/20     8/20     7/20     6/20      5/20     4/20     3/20     2/20     1/20       total

Burckella                          439    1,073        795        410      418      611      766       805    1,264      987    1,449    1,007      10,024
Calophyllum                      4,316   10,523      6,114      1,682    4,300    3,466    7,982     3,494    2,517    3,861    5,050    7,590      60,896
Dillenia                           803    1,912      3,457      1,709      937    1,422    2,942     2,065    1,396    1,711    3,750    3,267      25,369
Erima                              447    1,434        956         90      578      216      655     1,231    1,187    1,719    1,348    1,427      11,289
Grey Canarium                      191    1,088        663         95      392      207    1,269       318      247      387      382    1,554       6,794
Hekakoro                            13        5         51                   1        1        1       221        7      224                85         607
Kwila                           43,435   13,365     40,994     11,666    7,306   33,290    8,647    25,892      995   17,156   14,010    6,826     223,583
Lophopetallum/Perupok               96      317         98         37      235      100      143       158      152      201      161      270       1,968
Malas                            1,902    2,719      4,335      2,404    2,577    2,761    2,699     3,030    4,694    3,441    5,578    7,050      43,190
Pencil Cedar                     1,177    4,252      2,131      1,310    1,487    1,317    3,811     2,044    1,866    2,034    1,899    3,320      26,649
PNG Mersawa                               2,025      1,131        820      824      331    1,201     2,170    2,181    1,148    3,587    2,322      17,741
PNG Walnut                         608    1,367        901        336      482      694      800       945      723    1,212      656      794       9,517
Red Canarium                       955    1,584      1,213        617      705      919    1,100     1,507    1,040    2,041    1,344    1,884      14,907
Red Planchonella                    33      189        142          2      130       61      154        68       83       79      108      120       1,168
Taun                            11,592   18,076     14,023     13,887   10,006   14,678   12,714    13,658   16,492   17,331   13,798   15,783     172,040
Terminalia                       1,979    4,489      2,560      2,141    2,297    1,557    2,537     2,174    2,015    2,612    3,458    3,630      31,449
White Planchonella                 181      322        143         21      146      103      174       225      230      240      185      413       2,383

Field98:
Group 1 Species Total          68,167    64,741     79,708     37,228   32,821   61,733   47,594    60,005   37,090   56,383   56,762   57,343     659,575

Field98:
Group 2 Species Total           1,783       3,961    2,366        758    4,002    1,766    5,578     3,459    4,287    5,315    4,832    3,471      41,578

Field98:
Group 3 Species Total           2,766       5,258    5,226        841    4,527    3,596    6,049     6,032    4,007    5,458    6,247    5,274      55,282

Field98:
Group 4 Species Total           5,109       5,639    5,599      1,431    4,692    4,629    5,914     5,346    5,957    7,078    5,403    4,939      61,736

Grade Total (K'000)           77,825     79,598     92,899     40,257   46,043   71,724   65,134    74,842   51,342   74,234   73,244   71,028     818,171

Log Grade:                    Plantation diam 60+ cm: regular
                                                                                      Month                                                      12-month
Species / Group
                               12/20        11/20    10/20      9/20     8/20     7/20     6/20      5/20     4/20     3/20     2/20     1/20       total

Erima                                                                                                                               6                       6
Group 2 Species                   113                  183        423      712                 55               160       87               410          2,144

Field98:
Group 1 Species Total                                                                                                               6                       6

Field98:
Group 2 Species Total            113                   183        423      712                 55               160       87               410          2,144

Grade Total (K'000)              113                  183        423      712                  55              160       87        6      410        2,149

Log Grade:                    Plantation diam 50 - 59 cm: small
                                                                                      Month                                                      12-month
Species / Group
                               12/20        11/20    10/20      9/20     8/20     7/20     6/20      5/20     4/20     3/20     2/20     1/20       total

Erima                                                                                                                               3                       3
Group 2 Species                   290         69        80        422      596                351                48       10        2      119          1,988

Field98:
Group 1 Species Total                                                                                                               3                       3

Field98:
Group 2 Species Total            290          69        80        422      596                351                48       10        2      119          1,988

Grade Total (K'000)              290          69       80        422      596                 351               48       10        5      119        1,991




Report Number 3:        Page 1 of 4 pages      Date Printed:              29/01/2021 1:17:15 pm                                                  3- 1

Page 21 screenshot
Report - Monthly Export Log Revenues (K'000) by Log Grades and Species/Groups                 continued


Log Grade:                            Plantation diam 40 - 49 cm: super small low grade
                                                                                          Month                                              12-month
Species / Group
                                       12/20        11/20   10/20      9/20    8/20    7/20       6/20    5/20   4/20   3/20   2/20   1/20      total

Group 2 Species                                                                                    768                                               768

Field98:
Group 2 Species Total                                                                              768                                               768

Grade Total (K'000)                                                                                768                                               768

Log Grade:                            Plantation diam 40 - 49 cm: super small
                                                                                          Month                                              12-month
Species / Group
                                       12/20        11/20   10/20      9/20    8/20    7/20       6/20    5/20   4/20   3/20   2/20   1/20      total

Terminalia                                                                 0                                                                            0
Group 2 Species                           738       1,104      51        814   1,265              1,700            30            19    476          6,196

Field98:
Group 1 Species Total                                                      0                                                                            0

Field98:
Group 2 Species Total                    738        1,104      51        814   1,265              1,700            30            19    476          6,196

Grade Total (K'000)                      738        1,104      51       814    1,265             1,700             30            19    476      6,196

Log Grade:                            Plantation diam 30 - 39 cm: baby small
                                                                                          Month                                              12-month
Species / Group
                                       12/20        11/20   10/20      9/20    8/20    7/20       6/20    5/20   4/20   3/20   2/20   1/20      total

Group 2 Species                           681       1,180              1,047   1,254              2,702             1           220    851          7,936

Field98:
Group 2 Species Total                    681        1,180              1,047   1,254              2,702             1           220    851          7,936

Grade Total (K'000)                      681        1,180              1,047   1,254             2,702              1           220    851      7,936

Log Grade:                            Plantation diam 20 - 29 cm: tiny small
                                                                                          Month                                              12-month
Species / Group
                                       12/20        11/20   10/20      9/20    8/20    7/20       6/20    5/20   4/20   3/20   2/20   1/20      total

Teak (b) tiny small (plntn)               483                 337                                                 198           414    470          1,901
Group 2 Species                           110          36                207     191               306                          367    239          1,456

Field98:
Group 1 Species Total                    483                  337                                                 198           414    470          1,901

Field98:
Group 2 Species Total                    110           36                207     191               306                          367    239          1,456

Grade Total (K'000)                      593          36      337       207     191                306            198           781    709      3,358

Log Grade:                            Plantation diam 00 - 19 cm: little small
                                                                                          Month                                              12-month
Species / Group
                                       12/20        11/20   10/20      9/20    8/20    7/20       6/20    5/20   4/20   3/20   2/20   1/20      total

Teak (a) little small (plntn)             147                 168                                                  62           135     97           609
Group 2 Species                                                                                      0                            9                   10

Field98:
Group 1 Species Total                    147                  168                                                  62           135     97           609

Field98:
Group 2 Species Total                                                                                0                            9                    10

Grade Total (K'000)                      147                  168                                    0             62           145     97           619




Report Number 3:                Page 2 of 4 pages      Date Printed:            29/01/2021 1:17:27 pm                                        3- 2

Page 22 screenshot
Report - Monthly Export Log Revenues (K'000) by Log Grades and Species/Groups           continued


Log Grade:                    Low grade
                                                                                   Month                                                    12-month
Species / Group
                               12/20        11/20    10/20     9/20    8/20     7/20        6/20    5/20    4/20    3/20    2/20    1/20       total

Burckella                          26         109       99        53     100       99        166      130     187     247      29      37       1,283
Calophyllum                       170       1,215      756       186     660      276        981      420     327     174     253     219       5,637
Dillenia                          269         358      608        71     285       22        342      157      68      24     220     105       2,530
Erima                              31         258      158        13      33      243        191       43      64     151      16      18       1,217
Grey Canarium                      31         141       27         6      28       35         35       13      20      31      15      53         436
Hekakoro                                        0       28                                                      0      15               0          45
Kwila                              531          4        1        10                9          19       7              12               1         593
Lophopetallum/Perupok               12         56        7         4      26       44          32       9      20      24       8      56         298
Malas                              190        227      889        77     350      218         562     144     305     250     124      30       3,365
Pencil Cedar                       127        387      754       154     213      206         379     105     120     109      32     272       2,857
PNG Mersawa                         53        444      416       392     128      212       1,259     920     163     295      71   1,046       5,400
PNG Walnut                          58        183      191        62      43      156          91      30      85     161       5      34       1,098
Red Canarium                        76        312      212       100     164      202         271      77     140     174     175      80       1,984
Red Planchonella                     9         10       21         4      16       26          15       1       9      24               5         139
Taun                             1,700      2,603    2,401     1,710   1,020    2,160       1,922   1,090   1,825     819   1,180     789      19,218
Terminalia                          63        809      408       150     264      328         670      77     177     194     211     159       3,511
White Planchonella                   6         25       11         5      15       47          20       8      14      53       2      12         218

Field98:
Group 1 Species Total           3,352       7,141    6,987     2,998   3,343    4,282       6,955   3,231   3,525   2,758   2,341   2,916      49,829

Field98:
Group 2 Species Total            118          690      424       178     645      223        491      437     756     206     260     350          4,779

Field98:
Group 3 Species Total            306          813    1,542       192     306      805        779      482     455     580     185     616          7,061

Field98:
Group 4 Species Total            298        1,167    1,250       208     423    1,168       1,040     563     716     936     215     747          8,731

Grade Total (K'000)            4,074        9,812   10,203     3,576   4,716    6,479      9,265    4,713   5,452   4,480   3,002   4,628     70,400




Report Number 3:        Page 3 of 4 pages      Date Printed:            29/01/2021 1:17:30 pm                                               3- 3

Page 23 screenshot
Report - Monthly Export Log Revenues (K'000) by Log Grades and Species/Groups             continued



Log Grade:                     All logs
                                                                                      Month                                                        12-month
Species / Group
                                12/20       11/20    10/20       9/20     8/20     7/20        6/20     5/20     4/20     3/20    2/20     1/20       total

Burckella                        465     1,182        894        464      518      710          932     935     1,452    1,235    1,478    1,044      11,307

Calophyllum                     4,486   11,738       6,871      1,868    4,959    3,742      8,963     3,914    2,844    4,036    5,303    7,810      66,534

Dillenia                        1,072    2,270       4,065      1,780    1,223    1,444      3,284     2,222    1,464    1,735    3,970    3,372      27,899

Erima                            478     1,692       1,113       103      611      459          846    1,274    1,251    1,869    1,373    1,446      12,515

Grey Canarium                    222     1,229        690        101      420      242       1,305      331      267      418      397     1,607          7,230

Hekakoro                          13           6       79                    1        1           1     221         7     239                86            652

Kwila                          43,965   13,369      40,995     11,676    7,306   33,299      8,667    25,899     995    17,167   14,010    6,828     224,176

Lophopetallum/Perupok            108         373      106         41      261      144          175     167      172      225      169      326           2,266

Malas                           2,093    2,946       5,225      2,481    2,926    2,979      3,260     3,174    4,999    3,691    5,701    7,080      46,556

Pencil Cedar                    1,304    4,639       2,885      1,464    1,700    1,523      4,190     2,148    1,986    2,144    1,930    3,592      29,505

PNG Mersawa                       53     2,469       1,547      1,212     952      544       2,460     3,091    2,343    1,444    3,658    3,367      23,141

PNG Walnut                       666     1,550       1,092       398      525      849          890     975      808     1,373     661      828       10,615

Red Canarium                    1,030    1,896       1,424       717      870     1,121      1,371     1,584    1,180    2,215    1,520    1,964      16,892

Red Planchonella                  43         199      163           5     146       87          169      68       93      102      108      125           1,307

Taun                           13,292   20,679      16,424     15,597   11,025   16,838     14,636    14,749   18,318   18,150   14,978   16,573     191,258

Teak (a) little small (plntn     147                  168                                                         62               135       97            609
)
Teak (b) tiny small (plntn)      483                  337                                                        198               414      470           1,901

Terminalia                      2,042    5,299       2,968      2,292    2,561    1,885      3,207     2,251    2,192    2,806    3,669    3,789      34,960

White Planchonella               188         346      154         26      160      149          194     234      244      293      187      425           2,600


Field98:
Group 1 Species Total          72,150   71,882      87,200     40,226   36,164   66,016     54,548    63,236   40,874   59,141   59,661   60,827     711,923
Field98:
Group 2 Species Total           3,832    7,040       3,104      3,849    8,666    1,989     11,952     3,897    5,283    5,618    5,709    5,916      66,853

Field98:
Group 3 Species Total           3,072    6,071       6,768      1,033    4,833    4,401      6,828     6,514    4,462    6,038    6,432    5,890      62,343

Field98:
Group 4 Species Total           5,406    6,806       6,849      1,639    5,115    5,797      6,954     5,909    6,674    8,015    5,618    5,686      70,467


Grand Total (K'000)            84,460   91,798 103,920         46,747   54,778   78,203      80,283   79,555   57,292   78,811   77,420   78,318     911,586




Report Number 3:        Page 4 of 4 pages      Date Printed:               29/01/2021 1:17:56 pm                                                   3- 4

Page 24 screenshot
 Monthly Export Log Revenues (USD'000) by Log Grades
                  and Species/Groups

Log Grade:                 Saw/Veneer
                                                                                  Month                                                     12-month
Species / Group
                            12/20        11/20    10/20       9/20   8/20      7/20     6/20     5/20     4/20     3/20    2/20     1/20       total

Burckella                     128         314      233        121     123      181      227      240      377      296      436      303       2,980
Calophyllum                 1,262    3,082        1,795       495    1,268    1,025    2,364    1,040     750     1,159    1,520    2,285     18,045
Dillenia                      235         561     1,015       503     277      420      873      615      409      513     1,129     983       7,532
Erima                         131         421      281         27     171       64      194      366      354      516      406      430       3,360
Grey Canarium                  56         318      195         28     116       61      375       95       74      116      115      468       2,017
Hekakoro                        4           2       15                  0         0        0      66         2      67                26           181
Kwila                     12,713     3,922       12,032      3,436   2,159    9,837    2,566    7,702     297     5,147    4,217    2,055     66,082
Lophopetallum/Perupok          28          93       29         11      69       30        42      47       45       60       48       81           584
Malas                         556         794     1,272       708     760      816      801      902     1,402    1,033    1,679    2,122     12,845
Pencil Cedar                  344    1,245         625        386     439      389     1,129     608      557      611      571      999       7,905
PNG Mersawa                               593      332        230     244       98      357      647      652      344     1,080     699       5,275
PNG Walnut                    178         401      265         99     142      205      237      281      216      364      197      239       2,824
Red Canarium                  279         464      356        182     208      272      326      448      310      612      405      567       4,429
Red Planchonella               10          55       42           1     38       18        46      20       25       24       32       36           346
Taun                        3,391    5,299        4,116      4,090   2,952    4,338    3,770    4,065    4,923    5,201    4,153    4,751     51,049
Terminalia                    579    1,316         752        631     678      460      752      647      601      784     1,041    1,093      9,333
White Planchonella             53          94       42           6     43       30        52      67       69       72       56      124           708

Field98:
Group 1 Species Total     19,948    18,974       23,394     10,952   9,686   18,244   14,111   17,857   11,063   16,919   17,085   17,260    195,495
Field98:
Group 2 Species Total         522    1,158         694        223    1,181     522     1,655    1,031    1,274    1,595    1,454    1,045     12,354
Field98:
Group 3 Species Total         809    1,540        1,534       248    1,337    1,063    1,794    1,795    1,196    1,638    1,880    1,588     16,421

Field98:
Group 4 Species Total       1,494    1,652        1,643       421    1,386    1,369    1,754    1,590    1,778    2,125    1,626    1,487     18,325


Grade Total (USD'000) 22,773 23,324 27,266 11,845 13,590 21,198 19,314 22,272 15,311 22,276 22,046 21,379                                   242,595


Log Grade:                 Plantation diam 60+ cm: regular
                                                                                  Month                                                     12-month
Species / Group
                            12/20        11/20    10/20       9/20   8/20      7/20     6/20     5/20     4/20     3/20    2/20     1/20       total

Erima                                                                                                                         2                      2
Group 2 Species                32                   54        124     210                 16               48       26               123           633

Field98:
Group 1 Species Total                                                                                                         2                      2
Field98:
Group 2 Species Total          32                   54        124     210                 16               48       26               123           633


Grade Total (USD'000)          32                   54        124     210                 16               48       26        2      123           635




Report Number 4:     Page 1 of 4 pages      Date Printed:              29/01/2021 1:18:48 pm                                                4- 1

Page 25 screenshot
Report - Monthly Shipped Log Revenues (USD'000) by Log Grades and Species/Groups      continued



Log Grade:                    Plantation diam 50 - 59 cm: small
                                                                                   Month                                             12-month
Species / Group
                              12/20        11/20   10/20      9/20   8/20    7/20      6/20       5/20   4/20   3/20   2/20   1/20      total

Erima                                                                                                                     1                   1
Group 2 Species                  81          20       23      120    176               104                14       3      0     36          579

Field98:
Group 1 Species Total                                                                                                     1                   1
Field98:
Group 2 Species Total            81          20       23      120    176               104                14       3      0     36          579


Grade Total (USD'000)            81          20      23       120    176               104                14      3      1     36           579


Log Grade:                    Plantation diam 40 - 49 cm: super small low grade
                                                                                   Month                                             12-month
Species / Group
                              12/20        11/20   10/20      9/20   8/20    7/20      6/20       5/20   4/20   3/20   2/20   1/20      total

Group 2 Species                                                                        228                                                  228

Field98:
Group 2 Species Total                                                                  228                                                  228


Grade Total (USD'000)                                                                  228                                                  228


Log Grade:                    Plantation diam 40 - 49 cm: super small
                                                                                   Month                                             12-month
Species / Group
                              12/20        11/20   10/20      9/20   8/20    7/20      6/20       5/20   4/20   3/20   2/20   1/20      total

Terminalia                                                       0                                                                            0
Group 2 Species                 207         324       15      230    373               505                  9             6   143       1,811

Field98:
Group 1 Species Total                                            0                                                                            0
Field98:
Group 2 Species Total           207         324       15      230    373               505                  9             6   143       1,811


Grade Total (USD'000)          207         324       15       230    373               505                 9             6    143      1,811


Log Grade:                    Plantation diam 30 - 39 cm: baby small
                                                                                   Month                                             12-month
Species / Group
                              12/20        11/20   10/20      9/20   8/20    7/20      6/20       5/20   4/20   3/20   2/20   1/20      total

Group 2 Species                 191         346               295    370               802                  0            66   256       2,327

Field98:
Group 2 Species Total           191         346               295    370               802                  0            66   256       2,327


Grade Total (USD'000)          191         346                295    370               802                 0            66    256      2,327


Log Grade:                    Plantation diam 20 - 29 cm: tiny small
                                                                                   Month                                             12-month
Species / Group
                              12/20        11/20   10/20      9/20   8/20    7/20      6/20       5/20   4/20   3/20   2/20   1/20      total

Teak (b) tiny small (plntn)     136                   95                                                  57           119    136           543
Group 2 Species                  31          11                58     56                   91                          111      72          429

Field98:
Group 1 Species Total           136                   95                                                  57           119    136           543
Field98:
Group 2 Species Total            31          11                58     56                   91                          111      72          429


Grade Total (USD'000)          166           11      95        58     56                   91             57           230    208           972




Report Number 4:       Page 2 of 4 pages      Date Printed:           29/01/2021 1:19:00 pm                                          4- 2

Page 26 screenshot
Report - Monthly Shipped Log Revenues (USD'000) by Log Grades and Species/Groups        continued



Log Grade:                     Plantation diam 00 - 19 cm: little small
                                                                                   Month                                                  12-month
Species / Group
                               12/20        11/20   10/20       9/20    8/20    7/20     6/20       5/20    4/20    3/20   2/20    1/20      total

Teak (a) little small (plntn      41                   47                                                     18             39      28          174
Group 2 Species                                                                             0                                 3                    3

Field98:
Group 1 Species Total             41                   47                                                     18             39      28          174
Field98:
Group 2 Species Total                                                                       0                                 3                    3


Grade Total (USD'000)             41                  47                                   0                 18             42      28           177


Log Grade:                     Low grade
                                                                                   Month                                                  12-month
Species / Group
                               12/20        11/20   10/20       9/20    8/20    7/20     6/20       5/20    4/20    3/20   2/20    1/20      total

Burckella                          8          32       29         16      29      29       49        39       56      74      9      11          381
Calophyllum                       50         356      222         55     194      82     291        125       98      52     76      66      1,666
Dillenia                          79         105      178         21      84       7     101         47       20       7     66      32          747
Erima                              9          76       46          4       9      72       57        13       19      45      5       5          360
Grey Canarium                      9          41        8          2       8      10       10          4       6       9      5      16          129
Hekakoro                                       0        8                                                      0       5              0           13
Kwila                            155           1        0          3               3        6          2               4              0          174
Lophopetallum/Perupok              3          16        2          1       8      13       10          3       6       7      2      17           89
Malas                             56          67      261         23     103      64     167         43       91      75     37       9          995
Pencil Cedar                      37         113      221         45      63      61     112         31       36      33      9      82          844
PNG Mersawa                       16         130      122        110      38      63     374        274       48      89     21     315      1,600
PNG Walnut                        17          54       56         18      13      46       27          9      25      48      2      10          325
Red Canarium                      22          91       62         30      48      60       80        23       42      52     53      24          587
Red Planchonella                   3           3        6          1       5       8        4          0       3       7              1           41
Taun                             497         763      705        504     301     639     570        324      545     246   355      238      5,685
Terminalia                        18         237      120         44      78      97     199         23       53      58     64      48      1,038
White Planchonella                 2           7        3          2       4      14        6          2       4      16      1       3           65

Field98:
Group 1 Species Total            981    2,093       2,051        878     984   1,266   2,063        961    1,051     828   705      878     14,738
Field98:
Group 2 Species Total             34         202      125         53     190      66     146        130      225      62     78     105      1,416
Field98:
Group 3 Species Total             90         238      452         57      90     238     231        143      136     174     56     185      2,090

Field98:
Group 4 Species Total             87         342      367         61     124     345     309        167      214     281     65     225      2,587


Grade Total (USD'000) 1,192             2,875       2,995      1,048   1,388   1,915   2,748     1,401     1,626   1,345   903    1,393    20,830




Report Number 4:        Page 3 of 4 pages      Date Printed:             29/01/2021 1:19:06 pm                                            4- 3

Page 27 screenshot
Report - Monthly Shipped Log Revenues (USD'000) by Log Grades and Species/Groups          continued



Log Grade:                     All logs
                                                                                      Month                                                        12-month
Species / Group
                                12/20       11/20    10/20       9/20     8/20     7/20     6/20        5/20     4/20     3/20    2/20     1/20       total

Burckella                        136         346      262        137      153      210      276         278      433      371      445      314       3,361

Calophyllum                     1,312    3,438       2,017       550     1,462    1,106    2,655       1,165     848     1,211    1,596    2,351     19,712

Dillenia                         314         665     1,193       524      361      427      974         662      429      520     1,195    1,015      8,279

Erima                            140         496      327         30      180      136      251         379      373      561      413      435       3,722

Grey Canarium                     65         360      203         30      124       72      386          99       80      125      120      484       2,145

Hekakoro                           4           2       23                    0        0        0         66         2      72                26           195

Kwila                          12,869    3,923      12,032      3,439    2,159    9,840    2,572       7,704     297     5,150    4,217    2,055     66,255

Lophopetallum/Perupok             31         109       31         12       77       43        52         50       51       68       51       98           673

Malas                            612         860     1,533       731      863      880      967         945     1,493    1,108    1,716    2,131     13,840

Pencil Cedar                     381     1,359        847        431      502      450     1,241        639      593      644      581     1,081      8,748

PNG Mersawa                       16         723      454        341      281      161      730         921      700      433     1,101    1,014      6,875

PNG Walnut                       195         454      320        117      155      251      264         290      241      412      199      249       3,148

Red Canarium                     301         556      418        211      256      331      406         471      352      665      457      591       5,017

Red Planchonella                  13          58       48           2      43       26        50         20       28       31       32       38           388

Taun                            3,888    6,062       4,821      4,593    3,253    4,977    4,340       4,390    5,468    5,447    4,508    4,988     56,734

Teak (a) little small (plntn      41                   47                                                         18                39       28           174
)
Teak (b) tiny small (plntn)      136                   95                                                         57               119      136           543

Terminalia                       597     1,553        871        675      756      557      951         670      654      842     1,104    1,140     10,371

White Planchonella                55         102       45           8      47       44        58         70       73       88       56      128           773


Field98:
Group 1 Species Total          21,105   21,067      25,588     11,830   10,670   19,510   16,174      18,818   12,189   17,747   17,951   18,302    210,952
Field98:
Group 2 Species Total           1,097    2,061        911       1,102    2,558     588     3,545       1,161    1,571    1,686    1,718    1,781     19,779
Field98:
Group 3 Species Total            899     1,778       1,986       304     1,427    1,301    2,025       1,938    1,331    1,812    1,936    1,773     18,511

Field98:
Group 4 Species Total           1,581    1,994       2,010       483     1,510    1,714    2,063       1,757    1,992    2,406    1,691    1,712     20,912


Grand Total (USD'000) 24,682 26,900 30,495 13,720 16,164 23,113 23,808 23,674 17,083 23,650 23,297 23,567                                          270,153




Report Number 4:        Page 4 of 4 pages      Date Printed:               29/01/2021 1:19:29 pm                                                   4- 4

Page 28 screenshot
           Monthly Average Actual Export Prices (Kina) by Log
                      Grades and Species/Groups
Log Grade :                   Saw/Veneer
                                                                                     Month
Species / Group                 12/20       11/20     10/20     9/20     8/20     7/20      6/20     5/20     4/20     3/20     2/20     1/20       Average

Burckella                      266.36       259.40    269.94   284.00   255.47   275.50    274.86   272.27    277.95   279.91   279.30   279.46           273.61
Calophyllum                    356.79       340.34    346.32   350.27   335.85   338.81    365.84   339.18    339.77   350.41   359.78   365.04           350.21
Dillenia                       286.92       254.77    266.66   262.45   252.19   271.03    262.59   264.12    261.39   246.49   279.62   276.87           266.34
Erima                          268.37       240.19    255.88   260.88   278.11   265.99    272.68   274.41    274.96   270.79   285.61   271.67           267.92
Grey Canarium                  261.87       241.83    255.33   247.63   266.35   254.12    271.36   266.96    274.49   268.23   276.64   271.03           263.10
Hekakoro                       277.34       241.99    289.61            253.81   297.80    286.68   285.71    277.12   282.83            282.39           283.73
Kwila                          748.77       728.29    733.43   774.24   813.20   843.45    848.67   870.68    834.45   863.97   857.49   857.47           795.53
Lophopetallum/Perupok          249.37       246.08    269.18   240.76   255.42   246.92    263.51   267.57    257.95   265.73   278.46   269.85           259.85
Malas                          286.90       257.97    275.15   269.03   255.92   269.30    277.34   274.24    279.87   267.20   279.02   276.67           273.21
Pencil Cedar                   327.13       312.45    319.71   332.04   328.37   330.61    337.53   342.03    329.86   336.02   342.67   340.34           330.61
PNG Mersawa                                 339.65    331.46   338.08   353.35   295.47    330.02   361.75    370.98   367.02   356.50   367.98           352.90
PNG Walnut                     259.66       243.06    254.13   252.70   254.27   270.41    271.11   263.17    269.89   272.76   278.43   270.91           262.54
Red Canarium                   263.60       247.65    258.83   262.62   255.94   266.59    272.60   262.54    268.22   273.70   277.54   274.07           265.84
Red Planchonella               262.45       251.16    252.56   271.65   267.67   269.76    274.01   266.83    271.93   271.10   277.33   270.95           265.35
Taun                           350.88       334.91    342.25   351.55   345.89   360.21    347.45   352.64    363.62   358.24   366.92   365.27           353.24
Terminalia                     256.73       244.69    265.12   278.13   256.66   261.82    279.71   265.00    267.99   273.36   277.77   268.88           265.17
White Planchonella             264.20       243.39    269.23   270.87   255.57   255.22    275.72   273.80    279.14   280.10   275.92   280.08           268.66

All Group 1 Species             504.46      342.15    437.67   391.96   356.25   482.70    360.23   434.13    327.68   392.31   379.54   344.56           396.21
All Group 2 Species             222.94      213.81    229.91   223.56   231.70   234.13    225.32   243.74    248.99   235.98   244.08   239.04           233.55
All Group 3 Species             216.50      205.84    214.19   224.63   221.84   228.31    228.52   228.57    227.78   230.57   237.71   227.35           224.52
All Group 4 Species             200.19      187.39    196.10   200.17   196.46   216.91    215.15   213.11    212.54   211.83   218.09   211.99           206.73

Average Price (K)             428.97 302.23 378.62 368.45 299.58 415.73 308.94 367.07 291.66 332.40 332.31 312.29                                        342.68


Log Grade :                   Plantation diam 60+ cm: regular
                                                                                     Month
Species / Group                 12/20       11/20     10/20     9/20     8/20     7/20      6/20     5/20     4/20     3/20     2/20     1/20       Average

Erima                                                                                                                           315.61                    315.61
Group 2 Species                480.36                 339.66   382.14   363.95             288.34             318.26   317.20            353.51           359.29

All Group 1 Species                                                                                                             315.61                    315.61
All Group 2 Species             480.36                339.66   382.14   363.95             288.34             318.26   317.20            353.51           359.29

Average Price (K)             480.36                 339.66 382.14 363.95                 288.34             318.26 317.20 315.61 353.51                 359.16




Notes: All prices are Kina FOB per cubic metre; dates of prices from Bills of Lading

Report Number 5:        Page 1 of 4 pages      Date Printed:             29/01/2021 1:20:25 pm                                                    5- 1

Page 29 screenshot
Report - Monthly Average Actual Export Prices (Kina) by Log Grades and Species/Groups           continued



Log Grade :                         Plantation diam 50 - 59 cm: small
                                                                                          Month
Species / Group                       12/20       11/20    10/20       9/20     8/20    7/20     6/20       5/20    4/20     3/20      2/20     1/20       Average

Erima                                                                                                                                  299.00                    299.00
Group 2 Species                      410.71       347.53   312.35     440.03   357.51           280.13              284.76   283.81    338.87   369.79           356.62

All Group 1 Species                                                                                                                    299.00                    299.00
All Group 2 Species                   410.71      347.53   312.35     440.03   357.51           280.13              284.76   283.81    338.87   369.79           356.62

Average Price (K)                   410.71 347.53 312.35 440.03 357.51                         280.13              284.76 283.81 311.38 369.79                  356.51


Log Grade :                         Plantation diam 40 - 49 cm: super small low grade
                                                                                          Month
Species / Group                       12/20       11/20    10/20       9/20     8/20    7/20     6/20       5/20    4/20     3/20      2/20     1/20       Average

Group 2 Species                                                                                 337.27                                                           337.27

All Group 2 Species                                                                             337.27                                                           337.27

Average Price (K)                                                                              337.27                                                           337.27


Log Grade :                         Plantation diam 40 - 49 cm: super small
                                                                                          Month
Species / Group                       12/20       11/20    10/20       9/20     8/20    7/20     6/20       5/20    4/20     3/20      2/20     1/20       Average

Terminalia                                                            367.02                                                                                     367.02
Group 2 Species                      366.07       340.72   269.43     413.66   339.33           290.54              251.26             332.23   354.72           334.77

All Group 1 Species                                                   367.02                                                                                     367.02
All Group 2 Species                   366.07      340.72   269.43     413.66   339.33           290.54              251.26             332.23   354.72           334.77

Average Price (K)                   366.07 340.72 269.43 413.65 339.33                         290.54              251.26             332.23 354.72             334.77


Log Grade :                         Plantation diam 30 - 39 cm: baby small
                                                                                          Month
Species / Group                       12/20       11/20    10/20       9/20     8/20    7/20     6/20       5/20    4/20     3/20      2/20     1/20       Average

Group 2 Species                      289.29       313.46              342.20   292.92           257.08              217.76             305.65   287.38           286.96

All Group 2 Species                   289.29      313.46              342.20   292.92           257.08              217.76             305.65   287.38           286.96

Average Price (K)                   289.29 313.46                    342.20 292.92             257.08              217.76             305.65 287.38             286.96


Log Grade :                         Plantation diam 20 - 29 cm: tiny small
                                                                                          Month
Species / Group                       12/20       11/20    10/20       9/20     8/20    7/20     6/20       5/20    4/20     3/20      2/20     1/20       Average

Teak (b) tiny small (plntn)          890.51                883.39                                                   869.57             866.55   865.05           875.43
Group 2 Species                      157.14       279.39              212.77   175.21           156.40                                 272.43   162.79           189.99

All Group 1 Species                   890.51               883.39                                                   869.57             866.55   865.05           875.43
All Group 2 Species                   157.14      279.39              212.77   175.21           156.40                                 272.43   162.79           189.99

Average Price (K)                   477.93 279.39 883.39 212.77 175.21                         156.40              869.57             427.73 352.49             341.31




Notes: All prices are Kina FOB per cubic metre; dates of prices from Bills of Lading

Report Number 5:              Page 2 of 4 pages      Date Printed:              29/01/2021 1:20:37 pm                                                    5- 2

Page 30 screenshot
Report - Monthly Average Actual Export Prices (Kina) by Log Grades and Species/Groups              continued



Log Grade :                           Plantation diam 00 - 19 cm: little small
                                                                                             Month
Species / Group                         12/20       11/20     10/20     9/20     8/20     7/20      6/20        5/20     4/20     3/20      2/20     1/20       Average

Teak (a) little small (plntn)          890.60                 883.39                                                     869.57             866.55   865.05           876.93
Group 2 Species                                                                                    259.70                                   272.43                    271.87

All Group 1 Species                     890.60                883.39                                                     869.57             866.55   865.05           876.93
All Group 2 Species                                                                                259.70                                   272.43                    271.87

Average Price (K)                     890.60                 883.39                               259.70                869.57             758.75 865.05             846.99


Log Grade :                           Low grade
                                                                                             Month
Species / Group                         12/20       11/20     10/20     9/20     8/20     7/20      6/20        5/20     4/20     3/20      2/20     1/20       Average

Burckella                              150.64       152.08    154.27   162.33   150.57   174.64    162.45      161.58    164.57   166.29    149.01   160.92           161.03
Calophyllum                            154.28       160.42    161.63   158.26   149.79   146.96    161.68      147.75    160.53   150.08    162.23   145.66           156.66
Dillenia                               145.00       156.87    161.13   167.30   165.20   175.01    164.77      156.34    163.00   180.44    156.89   174.65           159.87
Erima                                  170.04       162.06    162.54   154.72   157.03   182.09    173.44      170.54    162.20   175.28    166.11   157.89           169.43
Grey Canarium                          160.81       163.46    163.20   146.66   145.13   158.61    162.15      136.24    153.38   151.01    166.11   141.62           156.13
Hekakoro                                            153.32    170.36                                                     150.75   166.67             166.11           168.73
Kwila                                  615.38       150.35    136.29   169.78            138.06    186.39      134.45             166.64             132.89           475.54
Lophopetallum/Perupok                  143.77       149.75    148.61   135.82   138.06   151.73    154.29      140.92    153.70   146.44    166.11   143.98           147.92
Malas                                  170.27       154.23    163.86   160.52   164.26   162.06    161.56      157.03    165.97   165.27    138.58   178.19           162.00
Pencil Cedar                           163.50       158.06    164.16   165.45   157.39   170.50    161.83      152.96    159.77   166.81    151.80   165.38           162.40
PNG Mersawa                            170.94       170.54    153.99   159.92   167.48   169.40    163.98      167.84    162.13   166.75    166.11   165.46           164.78
PNG Walnut                             168.92       156.94    156.72   158.14   161.05   176.31    175.69      164.59    165.08   176.77    166.11   160.77           165.53
Red Canarium                           157.31       156.10    150.64   158.38   155.08   165.83    162.23      157.54    160.89   166.62    163.06   149.90           158.94
Red Planchonella                       166.67       160.90    150.43   169.78   155.00   178.54    164.16      142.30    167.50   178.02             163.03           165.54
Taun                                   167.16       159.65    162.03   162.14   155.70   166.41    163.34      156.92    161.26   160.72    163.60   155.19           161.79
Terminalia                             156.39       159.14    153.34   166.10   159.70   173.73    170.16      165.09    159.62   170.37    158.65   154.45           162.48
White Planchonella                     142.22       138.77    140.70   163.18   138.93   173.56    152.71      146.86    155.23   172.69    166.11   141.71           156.96

All Group 1 Species                     184.67      159.59    160.66   161.75   156.49   166.82    164.01      158.81    161.69   164.73    160.55   159.10           162.76
All Group 2 Species                     158.02      158.64    158.89   155.10   164.70   169.01    164.06      166.12    165.35   161.59    159.88   153.92           161.86
All Group 3 Species                     157.39      155.71    160.24   156.17   148.63   168.82    160.36      162.82    162.16   168.51    160.56   159.19           160.72
All Group 4 Species                     160.15      158.20    154.65   160.82   155.27   176.01    161.64      169.66    165.04   173.01    159.10   164.05           163.57

Average Price (K)                     179.45 159.03 159.76 161.04 156.91 168.73 163.43 161.11 162.66 166.73 160.38 159.48                                            162.59




Notes: All prices are Kina FOB per cubic metre; dates of prices from Bills of Lading

Report Number 5:                Page 3 of 4 pages      Date Printed:             29/01/2021 1:20:44 pm                                                        5- 3

Page 31 screenshot
Report - Monthly Average Actual Export Prices (Kina) by Log Grades and Species/Groups             continued



Log Grade :                           All Logs
                                                                                             Month
Species / Group                                                                                                                                             Average
                                        12/20       11/20    10/20      9/20     8/20     7/20     6/20        5/20    4/20     3/20     2/20     1/20

Burckella                              255.37       243.55   249.21    261.52   225.19   254.99   244.69      248.67   255.26   246.20   274.56   272.34          253.51
Calophyllum                            339.88       304.94   307.62    312.52   288.23   309.08   321.42      297.78   301.10   331.29   340.05   350.21          317.03
Dillenia                               230.30       231.94   242.88    256.62   224.58   268.77   247.29      251.87   254.23   245.22   268.02   271.92          251.17
Erima                                  258.59       223.72   236.63    240.57   267.09   213.87   241.55      268.94   265.57   259.41   283.40   269.22          253.61
Grey Canarium                          240.73       229.22   249.74    237.98   252.28   233.69   266.50      257.23   259.17   253.78   269.69   263.16          252.67
Hekakoro                               277.34       231.51   231.55             253.81   297.80   286.68      285.71   268.71   270.66            281.90          271.05
Kwila                                  746.81       727.53   733.39    771.92   813.20   842.29   841.96      869.47   834.45   861.49   857.49   856.70          794.11
Lophopetallum/Perupok                  231.07       224.56   254.86    223.04   235.64   207.04   232.93      255.14   238.91   244.65   269.95   234.45          236.30
Malas                                  270.07       245.26   246.63    263.53   239.92   256.88   246.86      265.23   268.64   256.48   273.01   276.03          260.29
Pencil Cedar                           298.17       288.92   256.24    300.22   289.03   293.32   307.38      322.61   309.94   319.47   335.77   315.12          300.48
PNG Mersawa                            170.94       288.27   253.05    248.53   307.52   228.92   217.39      269.15   340.52   294.60   348.70   266.62          278.67
PNG Walnut                             248.01       228.26   229.26    231.23   242.87   246.31   256.89      258.41   252.92   256.44   276.91   263.55          247.53
Red Canarium                           251.15       225.86   233.86    240.45   227.94   240.23   240.29      254.29   248.57   260.51   256.72   265.10          246.37
Red Planchonella                       233.19       244.20   232.27    193.76   248.37   234.11   258.71      263.63   256.24   241.71   277.33   264.23          249.36
Taun                                   307.64       294.25   294.38    311.63   310.78   313.39   302.66      322.87   323.21   339.42   334.21   343.15          315.70
Teak (a) little small (plntn)          890.60                883.39                                                    869.57            866.55   865.05          876.93
Teak (b) tiny small (plntn)            890.51                883.39                                                    869.57            866.55   865.05          875.43
Terminalia                             251.75       226.12   240.98    266.37   241.55   240.59   246.54      259.62   254.04   262.40   266.27   260.78          249.34
White Planchonella                     256.63       230.90   253.30    238.33   237.40   222.53   254.29      265.61   267.03   251.83   274.02   272.79          253.57

All Group 1 Species                     468.54      307.24   385.53    354.37   318.66   429.90   312.56      398.81   302.13   368.56   362.02   328.07          360.70
All Group 2 Species                     259.79      233.04   222.59    305.36   255.54   224.41   240.04      231.59   233.86   233.04   242.04   246.02          242.90
All Group 3 Species                     208.69      197.33   198.94    207.70   215.13   214.48   217.94      221.93   218.76   222.70   234.46   217.61          214.86
All Group 4 Species                     197.47      181.65   186.96    194.14   192.24   207.21   205.00      208.03   206.17   206.42   215.03   204.15          200.19


Average Price (K)                     400.59 276.17 334.38 335.02 278.80 370.77 277.25 341.23 271.99 314.60 319.99 296.24                                    315.30




Notes: All prices are Kina FOB per cubic metre; dates of prices from Bills of Lading

Report Number 5:                Page 4 of 4 pages      Date Printed:             29/01/2021 1:21:05 pm                                                     5- 4

Page 32 screenshot
           Monthly Average Actual Export Prices (USD) by Log
                      Grades and Species/Groups

Log Grade :                   Saw/Veneer
                                                                                     Month
Species / Group                 12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20     3/20     2/20     1/20       Average

Burckella                       77.91        76.02    79.23     83.64    75.42    81.42    81.51    81.01    82.95    84.00    84.07    84.12           81.35
Calophyllum                    104.36        99.68   101.64    103.15    99.01   100.16   108.35   100.99   101.30   105.19   108.29   109.88          103.78
Dillenia                        83.92        74.69    78.27     77.29    74.42    80.09    77.90    78.72    76.56    73.90    84.17    83.34           79.07
Erima                           78.50        70.45    75.10     76.83    82.15    78.65    80.87    81.67    82.07    81.29    85.97    81.77           79.73
Grey Canarium                   76.60        70.77    74.94     72.93    78.61    75.18    80.23    79.48    81.94    80.47    83.27    81.58           78.09
Hekakoro                        81.12        70.94    85.00              75.00    88.00    85.00    85.00    82.72    84.85             85.00           84.68
Kwila                          219.17       213.72   215.26    228.01   240.27   249.24   251.80   258.98   249.12   259.20   258.10   258.10          235.12
Lophopetallum/Perupok           72.94        72.10    79.01     70.90    75.35    73.04    78.18    79.71    76.89    79.74    83.82    81.22           77.16
Malas                           83.92        75.32    80.76     79.23    75.50    79.58    82.26    81.67    83.56    80.20    83.99    83.28           81.25
Pencil Cedar                    95.69        91.51    93.84     97.79    96.91    97.69    99.97   101.80    98.44   100.87   103.14   102.44           98.06
PNG Mersawa                                  99.46    97.28     95.00   104.41    87.37    98.00   107.78   110.91   110.00   107.31   110.76          104.93
PNG Walnut                      75.95        71.25    74.59     74.42    74.99    79.99    80.45    78.30    80.57    81.86    83.81    81.55           77.89
Red Canarium                    77.10        72.59    75.97     77.34    75.48    78.80    80.84    78.10    80.03    82.13    83.54    82.49           78.99
Red Planchonella                76.77        73.48    74.13     80.00    79.07    79.78    81.25    79.40    81.18    81.35    83.48    81.56           78.69
Taun                           102.63        98.18   100.45    103.53   102.05   106.46   103.04   104.96   108.54   107.51   110.44   109.95          104.82
Terminalia                      75.09        71.71    77.81     81.91    75.74    77.44    82.96    78.86    79.98    82.03    83.61    80.93           78.69
White Planchonella              77.28        71.33    79.02     79.77    75.43    75.49    81.79    81.50    83.33    84.10    83.05    84.30           79.86

All Group 1 Species             147.62      100.28   128.46    115.31   105.14   142.65   106.80   129.19    97.74   117.72   114.24   103.71           117.44
All Group 2 Species              65.21       62.52    67.48     65.84    68.39    69.22    66.84    72.62    73.99    70.80    73.47    71.95            69.39
All Group 3 Species              63.33       60.28    62.87     66.15    65.51    67.49    67.78    68.01    67.96    69.20    71.55    68.43            66.69
All Group 4 Species              58.55       54.91    57.56     58.95    58.02    64.12    63.83    63.38    63.44    63.58    65.64    63.81            61.37

Ave. Price (USD)              125.52        88.56 111.13 108.41         88.42 122.87      91.61 109.24      86.98    99.75 100.03      94.00           101.61


Log Grade :                   Plantation diam 60+ cm: regular
                                                                                     Month
Species / Group                 12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20     3/20     2/20     1/20       Average

Erima                                                                                                                          95.00                    95.00
Group 2 Species                134.50                 99.69    111.55   107.52             85.31             95.00    95.00            106.41          106.07

All Group 1 Species                                                                                                            95.00                     95.00
All Group 2 Species             134.50                99.69    111.55   107.52             85.31             95.00    95.00            106.41           106.07

Ave. Price (USD)              134.50                 99.69 111.55 107.52                  85.31             95.00    95.00    95.00 106.41             106.04




Notes: All prices are USD FOB per cubic metre; dates of prices from Bills of Lading

Report Number 6:        Page 1 of 4 pages      Date Printed:             29/01/2021 1:21:57 pm                                                  6- 1

Page 33 screenshot
Report - Monthly Average Actual Export Prices (USD) by Log Grades and Species/Groups           continued




Log Grade :                         Plantation diam 50 - 59 cm: small
                                                                                         Month
Species / Group                       12/20       11/20    10/20      9/20     8/20    7/20     6/20       5/20    4/20     3/20     2/20     1/20       Average

Erima                                                                                                                                 90.00                    90.00
Group 2 Species                      115.00       102.00    91.67    124.86   105.51            83.01               85.00   85.00    102.00   111.31          103.80

All Group 1 Species                                                                                                                   90.00                     90.00
All Group 2 Species                   115.00      102.00    91.67    124.86   105.51            83.01               85.00   85.00    102.00   111.31           103.80

Ave. Price (USD)                    115.00 102.00          91.67 124.86 105.51                 83.01               85.00    85.00    93.73 111.31             103.77


Log Grade :                         Plantation diam 40 - 49 cm: super small low grade
                                                                                         Month
Species / Group                       12/20       11/20    10/20      9/20     8/20    7/20     6/20       5/20    4/20     3/20     2/20     1/20       Average

Group 2 Species                                                                                100.00                                                         100.00

All Group 2 Species                                                                            100.00                                                          100.00

Ave. Price (USD)                                                                              100.00                                                          100.00


Log Grade :                         Plantation diam 40 - 49 cm: super small
                                                                                         Month
Species / Group                       12/20       11/20    10/20      9/20     8/20    7/20     6/20       5/20    4/20     3/20     2/20     1/20       Average

Terminalia                                                           103.50                                                                                   103.50
Group 2 Species                      102.50       100.00    79.08    116.79   100.11            86.22               75.00            100.00   106.77           97.84

All Group 1 Species                                                  103.50                                                                                    103.50
All Group 2 Species                   102.50      100.00    79.08    116.79   100.11            86.22               75.00            100.00   106.77            97.84

Ave. Price (USD)                    102.50 100.00          79.08 116.78 100.11                 86.22               75.00            100.00 106.77              97.84


Log Grade :                         Plantation diam 30 - 39 cm: baby small
                                                                                         Month
Species / Group                       12/20       11/20    10/20      9/20     8/20    7/20     6/20       5/20    4/20     3/20     2/20     1/20       Average

Group 2 Species                       81.00        92.00              96.50    86.43            76.28               65.00             92.00    86.50           84.13

All Group 2 Species                    81.00       92.00              96.50    86.43            76.28               65.00             92.00    86.50            84.13

Ave. Price (USD)                     81.00        92.00              96.50    86.43            76.28               65.00             92.00    86.50            84.13


Log Grade :                         Plantation diam 20 - 29 cm: tiny small
                                                                                         Month
Species / Group                       12/20       11/20    10/20      9/20     8/20    7/20     6/20       5/20    4/20     3/20     2/20     1/20       Average

Teak (b) tiny small (plntn)          250.00                250.00                                                  250.00            250.00   250.00          250.00
Group 2 Species                       44.00        82.00              60.00    51.74            46.31                                 82.00    49.00           56.00

All Group 1 Species                   250.00               250.00                                                  250.00            250.00   250.00           250.00
All Group 2 Species                    44.00       82.00              60.00    51.74            46.31                                 82.00    49.00            56.00

Ave. Price (USD)                    134.11        82.00 250.00       60.00    51.74            46.31              250.00            125.92 103.30              98.83



Notes: All prices are USD FOB per cubic metre; dates of prices from Bills of Lading

Report Number 6:              Page 2 of 4 pages      Date Printed:             29/01/2021 1:22:09 pm                                                   6- 2

Page 34 screenshot
Report - Monthly Average Actual Export Prices (USD) by Log Grades and Species/Groups           continued




Log Grade :                           Plantation diam 00 - 19 cm: little small
                                                                                          Month
Species / Group                         12/20       11/20     10/20     9/20    8/20    7/20    6/20        5/20    4/20     3/20     2/20     1/20       Average

Teak (a) little small (plntn)          250.00                 250.00                                                250.00            250.00   250.00          250.00
Group 2 Species                                                                                 77.00                                  82.00                    81.78

All Group 1 Species                     250.00                250.00                                                250.00            250.00   250.00           250.00
All Group 2 Species                                                                             77.00                                  82.00                     81.78

Ave. Price (USD)                      250.00                 250.00                            77.00               250.00            219.52 250.00             241.67


Log Grade :                           Low grade
                                                                                          Month
Species / Group                         12/20       11/20     10/20     9/20    8/20    7/20    6/20        5/20    4/20     3/20     2/20     1/20       Average

Burckella                               44.06       44.60      45.28   47.81   44.23   51.64    48.20      48.04     49.11   49.95     44.85    48.44           47.81
Calophyllum                             45.13       46.99      47.44   46.61   44.14   43.46    47.95      43.99     47.88   45.02     48.83    43.84           46.31
Dillenia                                42.41       45.96      47.29   49.27   48.65   51.72    48.87      46.55     47.78   54.06     47.22    52.57           47.19
Erima                                   49.74       47.49      47.70   45.57   45.00   53.80    51.44      50.76     48.42   52.65     50.00    47.52           50.07
Grey Canarium                           47.04       47.84      47.90   43.19   42.54   46.92    48.10      40.54     45.78   45.27     50.00    42.63           46.14
Hekakoro                                            45.00      50.00                                                 45.00   50.00              50.00           49.91
Kwila                                  180.00       44.12      40.00   50.00           40.68    55.31      40.00             50.00              40.00          139.30
Lophopetallum/Perupok                   42.05       43.87      43.62   40.00   40.64   44.91    45.79      41.93     45.88   43.91     50.00    43.34           43.90
Malas                                   49.81       45.24      48.09   47.27   48.41   47.89    47.91      46.77     49.54   49.64     41.71    53.64           47.91
Pencil Cedar                            47.82       46.31      48.18   48.73   46.20   50.37    48.00      45.52     47.56   50.09     45.69    49.78           47.97
PNG Mersawa                             50.00       49.99      45.20   45.02   49.15   50.19    48.66      50.00     48.28   50.01     50.00    49.80           48.81
PNG Walnut                              49.41       45.99      46.00   46.57   47.34   52.10    52.11      48.93     49.26   53.11     50.00    48.39           48.95
Red Canarium                            46.01       45.72      44.21   46.64   45.36   49.02    48.13      46.77     48.03   50.01     49.08    45.12           47.05
Red Planchonella                        48.75       47.15      44.15   50.00   45.74   52.76    48.72      42.33     50.00   53.49              49.07           49.02
Taun                                    48.89       46.78      47.56   47.75   45.89   49.21    48.45      46.67     48.13   48.24     49.25    46.71           47.86
Terminalia                              45.74       46.67      45.01   48.92   47.06   51.34    50.46      48.90     47.62   51.15     47.75    46.49           48.06
White Planchonella                      41.60       40.70      41.29   48.06   40.93   51.30    45.31      43.69     46.34   51.84     50.00    42.65           46.59

All Group 1 Species                      54.02       46.77     47.15   47.36   46.06   49.33    48.65      47.26     48.23   49.45     48.32    47.89            48.14
All Group 2 Species                      46.22       46.47     46.63   45.68   48.60   49.97    48.66      49.36     49.29   48.50     48.12    46.33            47.97
All Group 3 Species                      46.04       45.62     47.03   45.99   43.66   49.90    47.59      48.33     48.38   50.56     48.33    47.92            47.57
All Group 4 Species                      46.84       46.35     45.39   47.36   45.59   52.03    47.96      50.32     49.26   51.92     47.89    49.38            48.45

Ave. Price (USD)                       52.49        46.60     46.89    47.20   46.18   49.89   48.48       47.91    48.52    50.04    48.28    48.00            48.11




Notes: All prices are USD FOB per cubic metre; dates of prices from Bills of Lading

Report Number 6:                Page 3 of 4 pages      Date Printed:            29/01/2021 1:22:15 pm                                                   6- 3

Page 35 screenshot
Report - Monthly Average Actual Export Prices (USD) by Log Grades and Species/Groups              continued



Log Grade :                           All Logs
                                                                                             Month
Species / Group                                                                                                                                             Average
                                        12/20       11/20    10/20      9/20     8/20     7/20     6/20        5/20    4/20     3/20     2/20     1/20

Burckella                               74.70        71.38    73.14     77.02    66.42    75.37    72.57       73.98    76.18    73.89    82.64    81.97           75.36
Calophyllum                             99.41        89.31    90.29     92.04    84.97    91.37    95.21       88.66    89.77    99.45   102.36   105.41           93.92
Dillenia                                67.36        67.99    71.28     75.57    66.24    79.42    73.36       75.06    74.46    73.52    80.67    81.85           74.53
Erima                                   75.64        65.61    69.45     70.85    78.77    63.22    71.64       80.05    79.26    77.87    85.30    81.04           75.42
Grey Canarium                           70.41        67.08    73.30     70.08    74.43    69.14    78.80       76.59    77.37    76.13    81.18    79.21           74.97
Hekakoro                                81.12        67.88    67.96              75.00    88.00    85.00       85.00    80.21    81.20             84.85           80.85
Kwila                                  218.59       213.50   215.25    227.33   240.27   248.89   249.81      258.62   249.12   258.45   258.10   257.87          234.70
Lophopetallum/Perupok                   67.59        65.80    74.80     65.68    69.50    61.25    69.11       76.00    71.23    73.41    81.26    70.57           70.16
Malas                                   78.99        71.63    72.39     77.61    70.77    75.91    73.22       78.99    80.21    76.98    82.18    83.09           77.38
Pencil Cedar                            87.21        84.62    75.21     88.41    85.25    86.67    91.05       96.02    92.48    95.90   101.07    94.85           89.09
PNG Mersawa                             50.00        84.43    74.27     69.88    90.79    67.75    64.53       80.19   101.78    88.31   104.96    80.25           82.79
PNG Walnut                              72.54        66.91    67.29     68.10    71.61    72.84    76.22       76.89    75.50    76.97    83.35    79.33           73.42
Red Canarium                            73.46        66.20    68.64     70.81    67.12    71.01    71.26       75.64    74.17    78.18    77.27    79.80           73.17
Red Planchonella                        68.21        71.45    68.17     57.06    73.36    69.22    76.71       78.45    76.49    72.55    83.48    79.53           73.93
Taun                                    89.99        86.26    86.40     91.78    91.68    92.63    89.76       96.10    96.48   101.86   100.60   103.29           93.65
Teak (a) little small (plntn)          250.00                250.00                                                    250.00            250.00   250.00          250.00
Teak (b) tiny small (plntn)            250.00                250.00                                                    250.00            250.00   250.00          250.00
Terminalia                              73.64        66.27    70.73     78.44    71.27    71.15    73.12       77.24    75.81    78.75    80.15    78.50           73.97
White Planchonella                      75.06        67.67    74.34     70.19    70.05    65.81    75.43       79.06    79.72    75.61    82.48    82.11           75.36

All Group 1 Species                     137.06       90.04   113.13    104.22    94.02   127.05    92.68      118.68    90.10   110.60   108.93    98.71          106.88
All Group 2 Species                      74.35       68.25    65.33     87.45    75.42    66.34    71.20       68.98    69.54    69.92    72.85    74.05           71.86
All Group 3 Species                      61.04       57.79    58.39     61.17    63.50    63.40    64.65       66.02    65.27    66.84    70.57    65.50           63.79
All Group 4 Species                      57.76       53.22    54.87     57.17    56.75    61.25    60.82       61.85    61.54    61.96    64.72    61.45           59.41


Ave. Price (USD)                      117.06        80.93    98.12     98.32    82.27 109.58      82.22 101.54         81.10    94.41    96.29    89.14           93.44




Notes: All prices are USD FOB per cubic metre; dates of prices from Bills of Lading

Report Number 6:                Page 4 of 4 pages      Date Printed:             29/01/2021 1:22:40 pm                                                     6- 4

Page 36 screenshot
    Mean Monthly Endorsed Prices (USD) by Log Grades
                  and Species/Groups

Log Grade : Saw/Veneer
                                                                                     Month
Species / Group                                                                                                                                  12-month
                                12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20     3/20     2/20      1/20      average

Burckella                       76.10        79.36    78.43     75.56    80.29    79.74    80.82    83.35    80.54    83.04    84.12     84.21         80.93
Calophyllum                     97.10       107.01   101.57     94.67   104.61   100.52   101.32   105.83   105.53    97.78   108.14    109.78        102.81
Dillenia                        74.78        85.22    77.69     73.64    78.81    79.77    78.24    81.19    77.73    75.49    82.46     83.55         78.58
Erima                           78.90        79.47    71.59     74.08    75.65    81.67    81.40    83.73    80.68    79.88    82.88     82.36         78.97
Grey Canarium                   79.43        73.43    72.19     75.85    70.65    78.26    78.07    80.26    81.54    79.45    81.43     83.69         77.62
Hekakoro                        77.70        84.55    72.45     82.76    80.00    78.23    85.50    83.44    85.00    83.95    84.68     81.67         84.05
Kwila                          214.63       220.65   218.88    214.55   247.12   242.46   247.37   249.44   250.25   253.15   258.48    256.56        231.07
Lophopetallum/Perupok           74.48        76.99    75.11     71.61    70.41    78.79    76.73    79.76    83.07    77.81    84.17     83.13         78.48
Malas                           76.53        83.02    78.28     75.06    77.97    79.76    80.93    84.20    79.22    82.98    81.20     83.94         80.93
Pencil Cedar                    92.30        94.46    90.31     93.89    93.88    97.30    99.84    98.30   101.81    96.36   102.61    102.59         97.02
PNG Mersawa                    100.29       104.49    96.40     96.35            104.04    94.17   103.49   102.99   111.04   109.94    114.07        105.05
PNG Walnut                      74.60        74.91    73.58     72.65    74.52    76.07    78.95    81.33    79.51    80.11    82.94     83.09         77.74
Red Canarium                    74.79        76.68    74.02     71.27    76.05    78.07    78.93    81.38    79.22    80.53    83.50     82.42         78.51
Red Planchonella                76.75        75.40    74.81     72.92    73.93    79.27    81.41    81.71    82.15    79.80    82.79     83.39         78.74
Taun                            97.88        99.56   101.97     95.45   102.11   102.00   107.15   102.31   106.09   105.33   111.44    109.10        103.72
Terminalia                      74.76        75.29    74.40     71.43    77.38    78.42    78.06    81.12    82.00    78.95    84.32     82.90         78.09
White Planchonella              74.41        75.98    74.05     73.09    75.29    75.04    78.78    82.54    83.51    82.15    84.13     83.30         79.48

All Group 1 Species            110.52       126.90   114.79    137.76    95.11   106.84   137.59    95.47   143.79    94.19   111.95    109.86        117.53
All Group 2 Species             65.53        67.10    63.92     63.58    66.94    69.11    66.18    69.01    72.36    73.41    71.11     73.29         69.43
All Group 3 Species             62.46        62.85    60.58     60.97    62.19    65.86    67.78    69.16    68.01    68.16    71.17     69.89         66.06
All Group 4 Species             57.89        58.34    55.31     55.27    56.98    59.66    63.41    64.68    62.99    62.81    65.11     63.87         60.70

Mean Grade Price               94.53 104.72 100.73 118.86               87.17    91.05 117.77      85.27 123.23      85.06    94.89     96.81     101.19



Log Grade : Plantation diam 60+ cm: regular
                                                                                     Month
Species / Group                                                                                                                                  12-month
                                12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20     3/20     2/20      1/20      average

Group 2 Species                115.42       128.39    95.00    109.99   148.50   108.13    61.00   102.00    95.00    98.51             106.32        105.92

All Group 2 Species            115.42       128.39    95.00    109.99   148.50   108.13    61.00   102.00    95.00    98.51             106.32        105.92

Mean Grade Price              115.42 128.39          95.00 109.99 148.50 108.13           61.00 102.00      95.00    98.51             106.32     105.92




Notes: All prices are USD per cubic metre; dates of prices from PNGFA Permit Notices


Report Number 7:        Page 1 of 4 pages      Date Printed:             29/01/2021 1:23:11 pm                                                 7- 1

Page 37 screenshot
Report - Mean Monthly Endorsed Prices (USD) by Log Grades and Species/Groups               continued



Log Grade : Plantation diam 50 - 59 cm: small
                                                                                           Month
Species / Group                                                                                                                                      12-month
                                      12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20    3/20    2/20      1/20      average

Group 2 Species                      112.49       113.30    85.00    118.53   132.00   108.86    75.29   100.68   94.04   95.61             111.22        104.07

All Group 2 Species                  112.49       113.30    85.00    118.53   132.00   108.86    75.29   100.68   94.04   95.61             111.22        104.07

Mean Grade Price                    112.49 113.30          85.00 118.53 132.00 108.86           75.29 100.68      94.04   95.61            111.22     104.07



Log Grade : Plantation diam 40 - 49 cm: super small
                                                                                           Month
Species / Group                                                                                                                                      12-month
                                      12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20    3/20    2/20      1/20      average

Terminalia                                                           103.50                                                                               103.50
Group 2 Species                      102.22       102.32    75.00    104.53   118.00   101.45    80.06    98.68   98.50   95.00             106.77         98.42

All Group 1 Species                                                  103.50                                                                               103.50
All Group 2 Species                  102.22       102.32    75.00    104.53   118.00   101.45    80.06    98.68   98.50   95.00             106.77         98.42

Mean Grade Price                    102.22 102.32          75.00 104.53 118.00 101.45           80.06    98.68    98.50   95.00            106.77         98.42



Log Grade : Plantation diam 30 - 39 cm: baby small
                                                                                           Month
Species / Group                                                                                                                                      12-month
                                      12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20    3/20    2/20      1/20      average

Group 2 Species                       81.00        82.06              92.92    96.50    88.47    63.91    90.16   91.90   87.00              86.50         85.05

All Group 2 Species                   81.00        82.06              92.92    96.50    88.47    63.91    90.16   91.90   87.00              86.50         85.05

Mean Grade Price                     81.00        82.06              92.92    96.50    88.47    63.91    90.16    91.90   87.00             86.50         85.05



Log Grade : Plantation diam 20 - 29 cm: tiny small
                                                                                           Month
Species / Group                                                                                                                                      12-month
                                      12/20       11/20    10/20      9/20     8/20     7/20     6/20     5/20    4/20    3/20    2/20      1/20      average

Teak (b) tiny small (plntn)                       250.00   250.00                      250.00                             25.00   250.00                  193.75
Group 2 Species                                    48.75              68.52    60.00    70.14    37.16    77.52   82.00   77.00              49.00         64.54

All Group 1 Species                               250.00   250.00                      250.00                             25.00   250.00                  193.75
All Group 2 Species                                48.75              68.52    60.00    70.14    37.16    77.52   82.00   77.00              49.00         64.54

Mean Grade Price                                  80.53 250.00       68.52    60.00    79.85    37.16    77.52    82.00   67.59 250.00      49.00         72.16




Notes: All prices are USD per cubic metre; dates of prices from PNGFA Permit Notices


Report Number 7:              Page 2 of 4 pages      Date Printed:             29/01/2021 1:23:16 pm                                               7- 2

Page 38 screenshot
Report - Mean Monthly Endorsed Prices (USD) by Log Grades and Species/Groups                continued



Log Grade : Plantation diam 00 - 19 cm: little small
                                                                                            Month
Species / Group                                                                                                                                       12-month
                                        12/20       11/20    10/20      9/20    8/20     7/20     6/20     5/20   4/20     3/20     2/20     1/20      average

Teak (a) little small (plntn)                       250.00   250.00                     250.00                             250.00   250.00                 250.00

All Group 1 Species                                 250.00   250.00                     250.00                             250.00   250.00                 250.00

Mean Grade Price                                250.00 250.00                          250.00                             250.00 250.00                250.00



Log Grade : Low grade
                                                                                            Month
Species / Group                                                                                                                                       12-month
                                        12/20       11/20    10/20      9/20    8/20     7/20     6/20     5/20   4/20     3/20     2/20     1/20      average

Kwila                                                        180.00                                                                                        180.00
PNG Mersawa                                                                                                       50.00     45.00    50.00                  49.74

All Group 1 Species                                          180.00                                               50.00     45.00    50.00                  68.27
All Group 4 Species                                                    50.00                                                50.00                           50.00
Mixed Group Species                     47.03        45.75    46.87    45.96   46.61     46.30    49.01   49.49   45.83     48.73    49.88   46.84          47.43

Mean Grade Price                       47.03        45.75    49.06     46.14   46.61    46.30    49.01    49.49   46.76    48.79    49.88    46.84         47.74




Notes: All prices are USD per cubic metre; dates of prices from PNGFA Permit Notices


Report Number 7:                Page 3 of 4 pages      Date Printed:            29/01/2021 1:23:18 pm                                               7- 3

Page 39 screenshot
Report - Mean Monthly Endorsed Prices (USD) by Log Grades and Species/Groups                      continued


Log Grade : All Logs
                                                                                             Month
Species / Group                                                                                                                                              12-month
                                        12/20       11/20    10/20      9/20     8/20     7/20       6/20      5/20    4/20     3/20     2/20     1/20        average

Burckella                               76.10        79.36    78.43     75.56    80.29    79.74     80.82      83.35    80.54    83.04    84.12    84.21           80.93
Calophyllum                             97.10       107.01   101.57     94.67   104.61   100.52    101.32     105.83   105.53    97.78   108.14   109.78          102.81
Dillenia                                74.78        85.22    77.69     73.64    78.81    79.77     78.24      81.19    77.73    75.49    82.46    83.55           78.58
Erima                                   78.90        79.47    71.59     74.08    75.65    81.67     81.40      83.73    80.68    79.88    82.88    82.36           78.97
Grey Canarium                           79.43        73.43    72.19     75.85    70.65    78.26     78.07      80.26    81.54    79.45    81.43    83.69           77.62
Hekakoro                                77.70        84.55    72.45     82.76    80.00    78.23     85.50      83.44    85.00    83.95    84.68    81.67           84.05
Kwila                                  214.63       220.65   217.94    214.55   247.12   242.46    247.37     249.44   250.25   253.15   258.48   256.56          230.92
Lophopetallum/Perupok                   74.48        76.99    75.11     71.61    70.41    78.79     76.73      79.76    83.07    77.81    84.17    83.13           78.48
Malas                                   76.53        83.02    78.28     75.06    77.97    79.76     80.93      84.20    79.22    82.98    81.20    83.94           80.93
Pencil Cedar                            92.30        94.46    90.31     93.89    93.88    97.30     99.84      98.30   101.81    96.36   102.61   102.59           97.02
PNG Mersawa                            100.29       104.49    96.40     96.35            104.04     94.17     103.49    84.22   109.05   107.33   114.07          100.30
PNG Walnut                              74.60        74.91    73.58     72.65    74.52    76.07     78.95      81.33    79.51    80.11    82.94    83.09           77.74
Red Canarium                            74.79        76.68    74.02     71.27    76.05    78.07     78.93      81.38    79.22    80.53    83.50    82.42           78.51
Red Planchonella                        76.75        75.40    74.81     72.92    73.93    79.27     81.41      81.71    82.15    79.80    82.79    83.39           78.74
Taun                                    97.88        99.56   101.97     95.45   102.11   102.00    107.15     102.31   106.09   105.33   111.44   109.10          103.72
Teak (a) little small (plntn)                       250.00   250.00                      250.00                                 250.00   250.00                   250.00
Teak (b) tiny small (plntn)                         250.00   250.00                      250.00                                  25.00   250.00                   193.75
Terminalia                              74.76        75.29    74.40     71.44    77.38    78.42     78.06      81.12    82.00    78.95    84.32    82.90           78.09
White Planchonella                      74.41        75.98    74.05     73.09    75.29    75.04     78.78      82.54    83.51    82.15    84.13    83.30           79.48

All Group 1 Species                    110.52       127.37   115.45    137.76   95.11    107.59    137.59      95.47   141.26    94.42   112.05   109.86          117.52
All Group 2 Species                     72.22        70.27    64.74     83.48   79.49     79.22     66.27      74.77    77.17    75.94    71.11    75.95           74.78
All Group 3 Species                     62.46        62.85    60.58     60.97   62.19     65.86     67.78      69.16    68.01    68.16    71.17    69.89           66.06
All Group 4 Species                     57.89        58.34    55.31     54.78   56.98     59.66     63.41      64.68    62.99    61.60    65.11    63.87           60.50
Mixed Group Species                     47.03        45.75    46.87     45.96   46.61     46.30     49.01      49.49    45.83    48.73    49.88    46.84           47.43

Overall Mean Price                     88.03        94.58    91.91 104.42       81.14    84.51 104.70         76.59 116.35      79.49    89.37    92.91           92.87




Notes: All prices are USD per cubic metre; dates of prices from PNGFA Permit Notices


Report Number 7:                Page 4 of 4 pages      Date Printed:             29/01/2021 1:23:33 pm                                                     7- 4

Page 40 screenshot
             Monthly Endorsed Volumes (m3) by Log Grades and
                             Species/Groups

Log Grade :                   Saw/Veneer
                                                                                        Month
Species / Group                12/20        11/20    10/20       9/20      8/20      7/20      6/20      5/20      4/20      3/20     2/20      1/20            Total


Burckella                       2,662     2,897       3,819      2,857       838     2,387     2,764     2,497     3,173     5,350     4,029     5,197       38,471
Calophyllum                    14,861    17,803      21,981     17,710    11,246    14,501    10,783    17,981     8,936    10,348     8,256    20,112      174,519
Dillenia                        5,848     4,785       6,654     12,221     6,705     8,575     7,868     7,667    11,904    15,053     4,866    13,157      105,303
Erima                           2,886     2,586       6,745      3,585       402     2,137     1,559     2,733     3,533     5,311     5,252     3,951       40,682
Grey Canarium                   1,011     3,371       4,100      1,034     2,102     1,346     1,160     2,988     1,741     1,426     3,383     3,219       26,883
Hekakoro                           43       335          33        100        10         7         6       160       615        76       622        75        2,083
Kwila                          22,219    34,862      35,553     83,339     1,824    11,493    36,558     1,575    53,253     1,867    10,763    15,490      308,796
Lophopetallum/Perupok             333       536       1,045        524       415     1,572       601       757       663     1,056       816     1,129        9,447
Malas                           9,758     7,708      13,922     10,509     9,433    13,992     7,706    15,615    10,218    22,553    12,593    28,762      162,769
Pencil Cedar                    4,730     6,812       9,937      7,478     4,331     5,675     4,831     6,100     7,424     6,930     6,875     9,152       80,276
PNG Mersawa                     5,602     2,398       5,784      5,595               2,298       787       876     8,340     8,944    10,101     5,892       56,617
PNG Walnut                      2,318     3,202       5,092      3,943     1,919     1,440     2,084     3,317     4,148     3,625     2,998     3,773       37,860
Red Canarium                    4,050     4,773       3,982      5,199     2,248     3,014     3,247     4,400     6,311     7,183     5,274     6,857       56,540
Red Planchonella                  478       438       1,039        331       294       240       327       528       716       347       383       625        5,745
Taun                           41,225    26,659      54,631     38,253    26,569    36,040    46,571    31,495    35,122    48,578    38,280    54,842      478,265
Terminalia                     11,423     8,166      12,790     12,398     6,872     9,277     6,326     9,113     8,605    10,745     8,411    14,440      118,566
White Planchonella                790       822         649        919        70       580       443     1,109       787     1,083       829     1,597        9,678
Group 1 Species Total       130,236 128,154 187,757 205,994              75,279 114,573 133,623 108,912 165,492 150,476 123,731 188,271                    1,712,499
Group 2 Species Total        13,456     12,818      15,031     11,338     3,461    22,103    12,952    14,298    19,930    21,701    20,606    29,880        197,575
Group 3 Species Total        19,397     23,053      22,329     24,747     5,952    22,424    19,889    19,869    18,853    28,270    23,822    27,510        256,115
Group 4 Species Total        29,179     30,052      26,193     28,828    12,543    24,210    18,141    27,111    22,373    28,891    35,434    30,797        313,752

Total Volume (m3)           192,268 194,078 251,309 270,906              97,235 183,310 184,605 170,190 226,648 229,339 203,593 276,458                    2,479,941



Log Grade :                   Plantation diam 60+ cm: regular
                                                                                        Month
Species / Group                12/20        11/20    10/20       9/20      8/20      7/20      6/20      5/20      4/20      3/20     2/20      1/20            Total


Group 2 Species                   498         45       309       1,408        5      1,878       80        32       473       548                1,157          6,433
Group 2 Species Total            498          45      309       1,408         5     1,878        80        32      473       548                1,157           6,433

Total Volume (m3)                498          45      309       1,408         5     1,878        80        32      473       548                1,157           6,433



Log Grade :                   Plantation diam 50 - 59 cm: small
                                                                                        Month
Species / Group                12/20        11/20    10/20       9/20      8/20      7/20      6/20      5/20      4/20      3/20     2/20      1/20            Total


Group 2 Species                   562        230        90       1,092       80      1,273      840       272       376       311                 316           5,442
Group 2 Species Total            562         230        90      1,092        80     1,273      840       272       376       311                 316            5,442

Total Volume (m3)                562         230        90      1,092        80     1,273      840       272       376       311                 316            5,442




Report Number 8:        Page 1 of 3 pages      Date Printed:                29/01/2021 1:24:05 pm                                                        8- 1

Page 41 screenshot
Report - Monthly Endorsed Volumes (m3) by Log Grades and Species/Groups                    continued




Log Grade :                           Plantation diam 40 - 49 cm: super small
                                                                                                 Month
Species / Group                        12/20        11/20    10/20       9/20      8/20       7/20       6/20      5/20      4/20      3/20     2/20     1/20              Total


Terminalia                                                                   1                                                                                                1
Group 2 Species                         1,248        845       117       4,876      550       4,494      3,710      950      2,181      905               1,344          21,220
Group 1 Species Total                                                       1                                                                                                  1
Group 2 Species Total                  1,248         845      117       4,876      550      4,494       3,710      950      2,181      905               1,344            21,220

Total Volume (m3)                      1,248         845      117       4,877      550      4,494       3,710      950      2,181      905               1,344            21,221



Log Grade :                           Plantation diam 30 - 39 cm: baby small
                                                                                                 Month
Species / Group                        12/20        11/20    10/20       9/20      8/20       7/20       6/20      5/20      4/20      3/20     2/20     1/20              Total


Group 2 Species                           950       1,550                5,525     1,935      6,851      5,560     2,848     2,158     1,640              2,960          31,977
Group 2 Species Total                    950     1,550                  5,525     1,935     6,851       5,560     2,848     2,158     1,640              2,960            31,977

Total Volume (m3)                        950     1,550                  5,525     1,935     6,851       5,560     2,848     2,158     1,640              2,960            31,977



Log Grade :                           Plantation diam 20 - 29 cm: tiny small
                                                                                                 Month
Species / Group                        12/20        11/20    10/20       9/20      8/20       7/20       6/20      5/20      4/20      3/20     2/20     1/20              Total


Teak (b) tiny small (plntn)                          150       150                              200                                     200       100                       800
Group 2 Species                                      800                  310       780       3,504      1,510     2,898      600       905               1,460          12,767
Group 1 Species Total                                150      150                             200                                      200       100                         800
Group 2 Species Total                                800                 310       780      3,504       1,510     2,898      600       905               1,460            12,767

Total Volume (m3)                                    950      150        310       780      3,704       1,510     2,898      600      1,105      100     1,460            13,567



Log Grade :                           Plantation diam 00 - 19 cm: little small
                                                                                                 Month
Species / Group                        12/20        11/20    10/20       9/20      8/20       7/20       6/20      5/20      4/20      3/20     2/20     1/20              Total


Teak (a) little small (plntn)                        350       350                             400                                      400       200                      1,700
Group 1 Species Total                                350      350                             400                                      400       200                       1,700

Total Volume (m3)                                    350      350                             400                                      400       200                       1,700



Log Grade :                           Low grade
                                                                                                 Month
Species / Group                        12/20        11/20    10/20       9/20      8/20       7/20       6/20      5/20      4/20      3/20     2/20     1/20              Total


Kwila                                                          881                                                                                                           881
PNG Mersawa                                                                                                                  4,576      279       459                      5,314
Group 1 Species Total                                         881                                                           4,576      279       459                       6,195
Group 4 Species Total                                                   3,000                                                         3,000                                6,000
Mixed Grp Spp. Total                 31,439     41,028      52,695     63,254    18,072    37,305      35,257    57,114    15,939    41,489    29,212   22,432           445,236

Total Volume (m3)                    31,439     41,028      53,577     66,254    18,072    37,305      35,257    57,114    20,515    44,768    29,671   22,432           457,431




Report Number 8:                Page 2 of 3 pages      Date Printed:                29/01/2021 1:24:11 pm                                                         8- 2

Page 42 screenshot
Report - Monthly Endorsed Volumes (m3) by Log Grades and Species/Groups                    continued


Log Grade :                           All Logs
                                                                                                 Month
Species / Group                                                                                                                                                           Total
                                       12/20        11/20    10/20       9/20      8/20       7/20       6/20      5/20      4/20      3/20     2/20      1/20

Burckella                               2,662       2,897     3,819      2,857      838       2,387      2,764     2,497     3,173     5,350     4,029     5,197      38,471
Calophyllum                            14,861    17,803      21,981     17,710    11,246    14,501      10,783    17,981     8,936    10,348     8,256    20,112     174,519
Dillenia                                5,848       4,785     6,654     12,221     6,705      8,575      7,868     7,667    11,904    15,053     4,866    13,157     105,303
Erima                                   2,886       2,586     6,745      3,585      402       2,137      1,559     2,733     3,533     5,311     5,252     3,951      40,682
Grey Canarium                           1,011       3,371     4,100      1,034     2,102      1,346      1,160     2,988     1,741     1,426     3,383     3,219      26,883
Hekakoro                                   43        335        33        100        10          7          6       160       615        76       622        75           2,083
Kwila                                  22,219    34,862      36,434     83,339     1,824    11,493      36,558     1,575    53,253     1,867    10,763    15,490     309,677
Lophopetallum/Perupok                     333        536      1,045       524       415       1,572       601       757       663      1,056      816      1,129          9,447
Malas                                   9,758       7,708    13,922     10,509     9,433    13,992       7,706    15,615    10,218    22,553    12,593    28,762     162,769
Pencil Cedar                            4,730       6,812     9,937      7,478     4,331      5,675      4,831     6,100     7,424     6,930     6,875     9,152      80,276
PNG Mersawa                             5,602       2,398     5,784      5,595                2,298       787       876     12,916     9,223    10,560     5,892      61,930
PNG Walnut                              2,318       3,202     5,092      3,943     1,919      1,440      2,084     3,317     4,148     3,625     2,998     3,773      37,860
Red Canarium                            4,050       4,773     3,982      5,199     2,248      3,014      3,247     4,400     6,311     7,183     5,274     6,857      56,540
Red Planchonella                          478        438      1,039       331       294        240        327       528       716       347       383       625           5,745
Taun                                   41,225    26,659      54,631     38,253    26,569    36,040      46,571    31,495    35,122    48,578    38,280    54,842     478,265
Teak (a) little small (plntn)                        350       350                             400                                      400       200                     1,700
Teak (b) tiny small (plntn)                          150       150                             200                                      200       100                       800
Terminalia                             11,423       8,166    12,790     12,399     6,872      9,277      6,326     9,113     8,605    10,745     8,411    14,440     118,567
White Planchonella                        790        822       649        919        70        580        443      1,109      787      1,083      829      1,597          9,678

Group 1 Species Total               130,236 128,654 189,138 205,995              75,279 115,173 133,623 108,912 170,067 151,355 124,490 188,271                    1,721,195
Group 2 Species Total                16,714     16,288      15,547     24,549     6,811    40,103      24,652    21,298    25,718    26,010    20,606    37,117      275,414
Group 3 Species Total                19,397     23,053      22,329     24,747     5,952    22,424      19,889    19,869    18,853    28,270    23,822    27,510      256,115
Group 4 Species Total                29,179     30,052      26,193     31,828    12,543    24,210      18,141    27,111    22,373    31,891    35,434    30,797      319,752
Mixed Grp Spp Total                  31,439     41,028      52,695     63,254    18,072    37,305      35,257    57,114    15,939    41,489    29,212    22,432      445,236

Total Volume (m3)                   226,965 239,076 305,902 350,372 118,657 239,214 231,563 234,304 252,951 279,016 233,564 306,127                                 3,017,712




Report Number 8:                Page 3 of 3 pages      Date Printed:                29/01/2021 9:27:09 am                                                          8- 3

Page 43 screenshot
Monthly Actual Shipped Volumes (m3) by Log Grade and
                     Destination

Log Grade: Saw/Veneer
                                                                           Month                                                            12-month       % of
Destination         12/20     11/20     10/20     9/20       8/20      7/20      6/20      5/20      4/20      3/20      2/20      1/20        total       total
China               155,040   220,227   176,444   94,639     101,619   130,702   171,275   170,544   157,790   188,159   190,349   195,499 1,952,287      81.8%
India                26,384    13,340                          8,183    28,460                                   9,158     9,085     6,070   100,680       4.2%
Japan                                     5,937    2,425                 4,700     3,994     3,487     5,315     4,930     7,613     2,943    41,344       1.7%
Korea                                     6,006    2,016       2,519                         3,785     1,890     6,642               8,086    30,945       1.3%
Malaysia                        8,526    27,768               13,069              15,192                                                      64,555       2.7%
South Korea                               2,802    5,079                           1,245     1,373     3,498      793                         14,791       0.6%
Taiwan                          3,806       946                5,409                 915     4,486     3,414               3,142     8,295    30,413       1.3%
Vietnam                        17,472    25,457    5,100      22,894     8,664    18,213    20,213     4,123    13,649    10,220     6,551   152,556       6.4%

Total (m3)         181,424 263,372 245,359 109,260 153,693 172,526 210,834 203,889 176,030 223,331 220,408 227,444                          2,387,570      100%



Log Grade: Plantation diam 60+ cm: regular
                                                                           Month                                                            12-month       % of
Destination         12/20     11/20     10/20     9/20       8/20      7/20      6/20      5/20      4/20      3/20      2/20      1/20        total       total
China                                                           161                 191                                      18                   370      6.2%
Japan                                      253                                                                                                    253      4.2%
Korea                                      287       56        1,630                                    503       155               1,112       3,742     62.5%
South Korea                                         885                                                           118                           1,002     16.8%
Vietnam                236                          167         167                                                                    48         617     10.3%

Total (m3)            236                  540    1,107      1,957                 191                 503       273         18    1,160       5,985       100%



Log Grade: Plantation diam 50 - 59 cm: small
                                                                           Month                                                            12-month       % of
Destination         12/20     11/20     10/20     9/20       8/20      7/20      6/20      5/20      4/20      3/20      2/20      1/20        total       total
China                            199                            683                1,254                                     15                 2,151     38.5%
Japan                                      170                                                                                                    170      3.1%
Korea                                       85       14         251                                     169         9                 112         640     11.5%
South Korea                                         171                                                            28                             198      3.5%
Vietnam                706                          774         735                                                                   210       2,425     43.4%

Total (m3)            706       199        255      959      1,668               1,254                 169         37        15      322       5,584       100%



Log Grade: Plantation diam 40 - 49 cm: super small low grade
                                                                           Month                                                            12-month       % of
Destination         12/20     11/20     10/20     9/20       8/20      7/20      6/20      5/20      4/20      3/20      2/20      1/20        total       total
China                                                                              2,276                                                        2,276    100.0%

Total (m3)                                                                       2,276                                                         2,276       100%




Report Number 9:       Page 1 of 3 pages     Date Printed:                29/01/2021 1:38:02 pm                                                         9- 1

Page 44 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Log Grades and Destination           continued


Log Grade: Plantation diam 40 - 49 cm: super small
                                                                           Month                                                                12-month      % of
Destination        12/20     11/20     10/20      9/20       8/20      7/20      6/20       5/20       4/20       3/20      2/20      1/20         total      total
China                          3,239                           1,820               5,852                                        56                10,968     59.3%
Japan                                       77                                                                                                        77      0.4%
Korea                                      112          5       134                                       119                             14         384      2.1%
South Korea                                            67                                                                                             67      0.4%
Vietnam              2,015                          1,895      1,774                                                                    1,327      7,011     37.9%

Total (m3)          2,015     3,239       188      1,968      3,729               5,852                  119                    56     1,341      18,508      100%



Log Grade: Plantation diam 30 - 39 cm: baby small
                                                                           Month                                                                12-month      % of
Destination        12/20     11/20     10/20      9/20       8/20      7/20      6/20       5/20       4/20       3/20      2/20      1/20         total      total
China                          3,764                           1,892              10,512                                       719                16,886     61.1%
Korea                                                              7                                          3                                       10      0.0%
Vietnam              2,353                          3,061      2,383                                                                    2,960     10,758     38.9%

Total (m3)          2,353     3,764                3,061      4,282              10,512                     3                 719      2,960      27,654      100%



Log Grade: Plantation diam 20 - 29 cm: tiny small
                                                                           Month                                                                12-month      % of
Destination        12/20     11/20     10/20      9/20       8/20      7/20      6/20       5/20       4/20       3/20      2/20      1/20         total      total
China                           128                             141                1,959                                      1,348                3,576     36.4%
India                  543                 381                                                            227                   477       544      2,172     22.1%
Vietnam                698                           972        951                                                                     1,469      4,089     41.6%

Total (m3)          1,240      128        381       972       1,091               1,959                  227                 1,826     2,013       9,837      100%



Log Grade: Plantation diam 00 - 19 cm: little small
                                                                           Month                                                                12-month      % of
Destination        12/20     11/20     10/20      9/20       8/20      7/20      6/20       5/20       4/20       3/20      2/20      1/20         total      total
China                                                                                   2                                       35                   36       4.9%
India                  165                 190                                                             71                  156       112        694      95.1%

Total (m3)            165                 190                                         2                    71                 191       112         731       100%



Log Grade: Low grade
                                                                           Month                                                                12-month      % of
Destination        12/20     11/20     10/20      9/20       8/20      7/20      6/20       5/20       4/20       3/20      2/20      1/20         total      total
China               22,702    59,242    45,365     19,486     19,785    35,522    47,667     19,431     29,908     26,871    16,885    23,329    366,192     84.6%
Japan                                    1,495      2,351                1,951       475      4,546        286                  430               11,534      2.7%
Korea                                    1,542                                                                                                     1,542      0.4%
Malaysia                                 7,663                 5,160                                                                              12,823      3.0%
South Korea                                          369                                         633      620                                      1,622      0.4%
Taiwan                                      356                                    5,457                                                3,149      8,962      2.1%
Vietnam                        2,457      7,445                5,110      923      3,088      4,644      2,704                1,400     2,544     30,314      7.0%

Total (m3)         22,702    61,699    63,867     22,205     30,055    38,396    56,687     29,254     33,518     26,871    18,715    29,022     432,991      100%




Report Number 9:      Page 2 of 3 pages      Date Printed:                15/02/2021 1:42:23 pm                                                            9- 2

Page 45 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Log Grade and Destination              continued


Log Grade: All Logs
                                                                             Month                                                           12-month % of
Destination        12/20     11/20     10/20       9/20     8/20         7/20      6/20      5/20      4/20      3/20      2/20      1/20       total total
China           177,742     286,799   221,809    114,125   126,101      166,223   240,987   189,975   187,698   215,030   209,425   218,828 2,354,743    81.4%
India              27,092    13,340      571                    8,183    28,460                          299      9,158     9,718    6,726    103,546     3.6%
Japan                                   7,933      4,776                  6,650     4,469     8,033     5,601     4,930     8,043    2,943     53,379     1.8%
Korea                                   8,031      2,092        4,540                         3,785     2,684     6,806              9,324     37,264     1.3%
Malaysia                      8,526    35,431               18,229                 15,192                                                      77,378     2.7%
South Korea                             2,802      6,571                            1,245     2,006     4,118      939                         17,680     0.6%
Taiwan                        3,806     1,302                   5,409               6,372     4,486     3,414               3,142   11,444     39,376     1.4%
Vietnam             6,007    19,929    32,902     11,970    34,013        9,588    21,301    24,857     6,827    13,649    11,620   15,109    207,770     7.2%

Grand Total 210,841 332,400 310,781 139,533 196,475 210,922 289,566 233,143 210,640 250,512 241,947 264,374                                  2,891,135   100%




Report Number 9:        Page 3 of 3 pages       Date Printed:                 29/01/2021 1:53:08 pm                                                      9- 3

Page 46 screenshot
        Monthly Average Actual Export Prices (USD) by Log
                     Grade and Destination

Log Grade : Saw/Veneer
                                                                                  Month
Destination                   12/20       11/20    10/20     9/20     8/20     7/20      6/20     5/20     4/20     3/20     2/20     1/20     Average
China                         109.44       83.86   124.74    113.51    82.24   100.23     96.18   113.71    86.64    95.43    93.49    89.83        98.60
India                         220.00      210.00                      240.00   248.47                               260.00   260.00   260.00       238.01
Japan                                               83.99     95.00             88.20     77.91   105.00   113.73    88.43   110.00    96.26        96.31
Korea                                               75.53     70.00    85.74                       94.09    70.00    73.79             81.71        79.17
Malaysia                                   63.03    69.09              74.92              70.91                                                     69.90
South Korea                                         63.51     77.26                       76.90    86.99    72.58    73.46                          74.22
Taiwan                                     82.18   114.70              90.81              80.49    73.26    80.00             90.24    92.24        86.69
Vietnam                                    68.98    82.44     66.30    69.11    70.59     70.45    84.52    91.45    70.01    75.06    80.87        75.10

Ave. Price (USD)            125.52        88.56 111.13 108.41         88.42 122.87       91.61 109.24      86.98    99.75 100.03      94.00       101.61


Log Grade : Plantation diam 60+ cm: regular
                                                                                  Month
Destination                   12/20       11/20    10/20     9/20     8/20     7/20      6/20     5/20     4/20     3/20     2/20     1/20     Average
China                                                                 102.00              85.31                               95.00                 93.03
Japan                                              105.00                                                                                          105.00
Korea                                               95.00    105.00   105.00                                95.00    95.00            105.00       102.48
South Korea                                                  105.00                                                  95.00                         103.83
Vietnam                       134.50                         148.50   137.50                                                          139.00       139.44

Ave. Price (USD)            134.50                 99.69 111.55 107.52                   85.31             95.00    95.00    95.00 106.41         106.04


Log Grade : Plantation diam 50 - 59 cm: small
                                                                                  Month
Destination                   12/20       11/20    10/20     9/20     8/20     7/20      6/20     5/20     4/20     3/20     2/20     1/20     Average
China                                     102.00                       97.00              83.01                               93.73                 89.28
Japan                                               95.00                                                                                           95.00
Korea                                               85.00     95.00    95.00                                85.00    85.00             95.00        90.89
South Korea                                                   95.00                                                  85.00                          93.60
Vietnam                       115.00                         132.00   117.00                                                          120.00       121.47

Ave. Price (USD)            115.00 102.00          91.67 124.86 105.51                   83.01             85.00    85.00    93.73 111.31         103.77


Log Grade : Plantation diam 40 - 49 cm: super small low grade
                                                                                  Month
Destination                   12/20       11/20    10/20     9/20     8/20     7/20      6/20     5/20     4/20     3/20     2/20     1/20     Average
China                                                                                    100.00                                                    100.00

Ave. Price (USD)                                                                        100.00                                                    100.00



Notes: All prices are USD FOB per cubic metre; dates of prices from Bills of Lading
Report Number 10:     Page 1 of 3 pages      Date Printed:            30/01/2021 10:40:03 am                                              10- 1

Page 47 screenshot
Report - Monthly Average Actual Export Prices (USD) by Log Grade and Destination           continued




Log Grade : Plantation diam 40 - 49 cm: super small
                                                                                      Month
Destination                    12/20       11/20     10/20    9/20     8/20        7/20        6/20    5/20     4/20     3/20     2/20     1/20     Average
China                                      100.00                       95.00                  86.22                              100.00                 91.82
Japan                                                 85.00                                                                                              85.00
Korea                                                 75.00    85.00    85.00                                    75.00                      85.00        78.99
South Korea                                                    85.00                                                                                     85.00
Vietnam                        102.50                         118.00   106.50                                                              107.00       108.55

Ave. Price (USD)             102.50 100.00           79.08 116.78 100.11                      86.22             75.00            100.00 106.77          97.84


Log Grade : Plantation diam 30 - 39 cm: baby small
                                                                                      Month
Destination                    12/20       11/20     10/20    9/20     8/20        7/20        6/20    5/20     4/20     3/20     2/20     1/20     Average
China                                       92.00                       87.00                  76.28                               92.00                 81.65
Korea                                                                   75.56                                    65.00                                   72.09
Vietnam                         81.00                          96.50    86.00                                                               86.50        88.03

Ave. Price (USD)               81.00       92.00              96.50    86.43                  76.28             65.00             92.00    86.50        84.13


Log Grade : Plantation diam 20 - 29 cm: tiny small
                                                                                      Month
Destination                    12/20       11/20     10/20    9/20     8/20        7/20        6/20    5/20     4/20     3/20     2/20     1/20     Average
China                                       82.00                       77.00                  46.31                               82.00                 62.26
India                          250.00                250.00                                                     250.00            250.00   250.00       250.00
Vietnam                         44.00                          60.00    48.00                                                               49.00        50.53

Ave. Price (USD)             134.11        82.00 250.00       60.00    51.74                  46.31            250.00            125.92 103.30          98.83


Log Grade : Plantation diam 00 - 19 cm: little small
                                                                                      Month
Destination                    1/21        12/20     11/20    10/20    9/20        8/20        7/20    6/20     5/20     4/20     3/20     2/20     Average
China                                                                                          77.00                               82.00                 81.78
India                          250.00                250.00                                                     250.00            250.00   250.00       250.00

Ave. Price (USD)             250.00                 250.00                                    77.00            250.00            219.52 250.00         241.67


Log Grade : Low grade
                                                                                      Month
Destination                    12/20       11/20     10/20    9/20     8/20        7/20        6/20    5/20     4/20     3/20     2/20     1/20     Average
China                           52.49       46.46     46.46    47.51    44.20      50.01       48.15   47.51     48.49   50.04     48.09    47.35        47.95
Japan                                                 45.00    45.00               50.00       50.00   50.00     45.00             50.00                 48.21
Korea                                                 45.00                                                                                              45.00
Malaysia                                              50.00             50.00                                                                            50.00
South Korea                                                    45.00                                   45.00     45.00                                   45.00
Taiwan                                                40.00                                    50.41                                        51.20        50.28
Vietnam                                     50.00     47.43             50.00      45.00       50.00   47.90     50.00             50.00    50.00        48.90

Ave. Price (USD)               52.49       46.60     46.89    47.20    46.18       49.89      48.48    47.91    48.52    50.04    48.28    48.00        48.11




Notes: All prices are USD FOB per cubic metre; dates of prices from Bills of Lading
Report Number 10:      Page 2 of 3 pages      Date Printed:            30/01/2021 10:42:01 am                                                  10- 2

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Report - Monthly Average Actual Export Prices (USD) by Log Grade and Destination           continued

Log Grade : All Logs
                                                                                     Month
Destination                    12/20       11/20    10/20     9/20     8/20        7/20        6/20    5/20     4/20     3/20     2/20     1/20     Average

China                         102.17        76.43   108.73    102.24    76.63      89.50       85.12   106.94    80.56    89.75    89.75    85.30        90.51

India                         220.78       210.00   250.00             240.00   248.47                          250.00   260.00   259.35   259.02       238.34

Japan                                                77.56     70.39               77.00       74.94    73.87   110.22    88.43   106.79    96.26        85.94

Korea                                                70.45     71.14    93.13                           94.09    75.84    74.29             84.65        80.30

Malaysia                                    63.03    64.96              67.87                  70.91                                                     66.60

South Korea                                          63.51     79.72                           76.90    73.75    68.43    76.50                          73.47

Taiwan                                      82.18    94.26              90.81                  54.73    73.26    80.00             90.24    80.95        78.40

Vietnam                        90.01        66.64    74.52     87.09    70.15      68.12       67.49    77.68    75.03    70.01    72.04    76.70        73.32


Ave. Price (USD)             117.06        80.93    98.12     98.32    82.27 109.58           82.22 101.54      81.10    94.41    96.29    89.14        93.44




Notes: All prices are USD FOB per cubic metre; dates of prices from Bills of Lading

Report Number 10:      Page 3 of 3 pages      Date Printed:            30/01/2021 10:21:03 am                                                   10- 3

Page 49 screenshot
    Monthly Actual Shipped Volumes (m3) by Export Company and Project
Report printed 29/01/2021 9:09:34 am



                                                                                                                                          Month
Co. Grouping Exporter                               Site Code                                                                                                                                         12-month
                                                                                            12/20    11/20   10/20      9/20    8/20    7/20  6/20      5/20     4/20     3/20    2/20        1/20        total

Agri Bisnis Ltd
                  Agri Bisnis Ltd                  Autuvo Extension (21407)                                                                                              3,027   10,838                    13,866
                  Total for Exporter: Agri Bisnis Ltd                                                                                                                    3,027 10,838                     13,866
                  Per Cent of Grand Total                                                                                                                                 1.2%     4.5%                     0.5%
Total for Agri Bisnis Ltd                                                                                                                                                3,027 10,838                     13,866
Per Cent of Grand Total                                                                                                                                                   1.2%     4.5%                     0.5%
Amanab 56 Timber Investments Ltd
                  Amanab 56 Timber Investments Amanab Blocks 5 & 6 FMA 110-4 (61            27,876           10,665   10,973   8,183   7,564                            15,083                6,070        86,414
                  Total for Exporter: Amanab 56 Timber Investments Ltd                      27,876           10,665   10,973   8,183   7,564                            15,083               6,070        86,414
                  Per Cent of Grand Total                                                    13.2%             3.4%     7.9%    4.2%    3.6%                              6.0%                 2.3%         3.0%
Total for Amanab 56 Timber Investments Ltd                                                  27,876           10,665   10,973   8,183   7,564                            15,083               6,070        86,414
Per Cent of Grand Total                                                                      13.2%             3.4%     7.9%    4.2%    3.6%                              6.0%                 2.3%         3.0%
Aset Meriah (PNG) Ltd
                  Aset Meriah (PNG) Ltd             Alimbit Andru (TP 11408)                15,158           10,918                    5,182           2,008   13,155             4,163                    50,584
                                                    Pasismanua Ext (TP 11414)                                 1,381                    4,166           2,151             5,299                             12,996
                                                    Umboi Island (11327)                                                                                        2,178             6,381                     8,559
                  Total for Exporter: Aset Meriah (PNG) Ltd                                 15,158           12,299                    9,348           4,158   15,333    5,299 10,544                     72,138
                  Per Cent of Grand Total                                                     7.2%             4.0%                     4.4%            1.8%     7.3%     2.1%     4.4%                     2.5%
                  Milton Limited                    Mosaleim TRP (TP 11457)                          8,450    9,263            7,189   3,293   7,091   6,629                      6,599                    48,515
                                                    Pakalua Agri. Forestry Intr (FCA 7140                     1,479                                                                                         1,479
                  Total for Exporter: Milton Limited                                                 8,450   10,742            7,189   3,293   7,091   6,629                     6,599                    49,994
                  Per Cent of Grand Total                                                             2.5%     3.5%             3.7%    1.6%    2.4%    2.8%                       2.7%                     1.7%
Total for Aset Meriah (PNG) Ltd                                                             15,158   8,450   23,041            7,189 12,642    7,091 10,788    15,333    5,299 17,143                   122,132
Per Cent of Grand Total                                                                       7.2%    2.5%     7.4%             3.7%    6.0%    2.4%    4.6%     7.3%     2.1%     7.1%                    4.2%




         11- 1                                                                                                                                                     Report Number 11:      Page 1 of 11 pages

Page 50 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project    continued




                                                                                                                                          Month                                                         12-month
Co. Grouping Exporter                            SiteCode
                                                                                          12/20    11/20    10/20    9/20     8/20     7/20  6/20       5/20     4/20     3/20     2/20       1/20          total

Bismarck Industries Ltd
              Bismarck Industries Ltd        Kapuluk Timber Project (11450)                                                    6,963                                                8,247       9,296        24,506
              Total for Exporter: Bismarck Industries Ltd                                                                      6,963                                               8,247       9,296        24,506
              Per Cent of Grand Total                                                                                           3.5%                                                 3.4%        3.5%         0.8%
Total for Bismarck Industries Ltd                                                                                              6,963                                               8,247       9,296        24,506
Per Cent of Grand Total                                                                                                         3.5%                                                 3.4%        3.5%         0.8%
Border International Timber Co. Ltd
              Border International Timber Co. Numbung Agri Blk (TA10-117)                                             2,982                                                                                      2,982
                                                 Wepa Agri Blk (TA 10-118)                                            1,402                                                                                      1,402
              Total for Exporter: Border International Timber Co. Ltd                                                 4,383                                                                                  4,383
              Per Cent of Grand Total                                                                                  3.1%                                                                                   0.2%
Total for Border International Timber Co. Ltd                                                                         4,383                                                                                  4,383
Per Cent of Grand Total                                                                                                3.1%                                                                                   0.2%
Brilliant Investment Ltd
              DD Investment Ltd              Bewani LFA (21001)                                              1,433                     1,067                                        2,763                        5,263
              Total for Exporter: DD Investment Ltd                                                          1,433                     1,067                                       2,763                     5,263
              Per Cent of Grand Total                                                                         0.5%                      0.5%                                         1.1%                     0.2%
Total for Brilliant Investment Ltd                                                                           1,433                     1,067                                       2,763                     5,263
Per Cent of Grand Total                                                                                       0.5%                      0.5%                                         1.1%                     0.2%
Cakara Alam (PNG) Ltd
              Cakara Alam (PNG) Ltd              East Arawe (11455)                        6,552             9,520                     3,045    9,787    6,848             9,571   15,400                    60,723
                                                 Pulie Anu LFA (21404)                              7,667             7,880    3,337           10,953            19,220   12,652    1,673                    63,383
                                                 Rottock Bay Consolidated (61402)                  17,337             3,547   17,904           15,084    2,006    6,857             7,891      15,284        85,912
              Total for Exporter: Cakara Alam (PNG) Ltd                                    6,552   25,004    9,520   11,428   21,242   3,045   35,824   8,854    26,077   22,223 24,964 15,284             210,018
              Per Cent of Grand Total                                                       3.1%     7.5%     3.1%     8.2%    10.8%    1.4%    12.4%    3.8%     12.4%     8.9%   10.3%         5.8%         7.3%
              Tzen Niugini Ltd                   Cape Offord (TP 11548)                                      5,451                              5,986             3,500                                      14,937
                                                 Illi Wawas/Masarau (FCA 71502)                              9,729                              4,045             6,836                                      20,609
              Total for Exporter: Tzen Niugini Ltd                                                          15,180                             10,031            10,336                                     35,546
              Per Cent of Grand Total                                                                         4.9%                               3.5%              4.9%                                       1.2%
              Tzen Pacific Ltd                 Aria Vanu Blk 3 (21413)                                                                                                              1,235                        1,235
              Total for Exporter: Tzen Pacific Ltd                                                                                                                                 1,235                     1,235
              Per Cent of Grand Total                                                                                                                                                0.5%                     0.0%
Total for Cakara Alam (PNG) Ltd                                                            6,552   25,004   24,700   11,428   21,242   3,045   45,855   8,854    36,413   22,223 26,200       15,284      246,800
Per Cent of Grand Total                                                                     3.1%     7.5%     7.9%     8.2%    10.8%    1.4%    15.8%    3.8%     17.3%     8.9%   10.8%         5.8%        8.5%



      11- 2                                                                                                                                                          Report Number 11:      Page 2 of 11 pages

Page 51 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project     continued




                                                                                                                                           Month                                                         12-month
Co. Grouping Exporter                            SiteCode
                                                                                           12/20    11/20    10/20    9/20     8/20     7/20  6/20       5/20     4/20     3/20     2/20       1/20          total

Canopus No. 16 Ltd
              Canopus No. 16 Ltd             Wipim Tapila FMA (60110)                       9,906            11,214            13,945                     3,073    4,505   11,092                             53,734
              Total for Exporter: Canopus No. 16 Ltd                                        9,906            11,214            13,945                    3,073    4,505    11,092                            53,734
              Per Cent of Grand Total                                                        4.7%              3.6%              7.1%                     1.3%     2.1%      4.4%                              1.9%
Total for Canopus No. 16 Ltd                                                                9,906            11,214            13,945                    3,073    4,505    11,092                            53,734
Per Cent of Grand Total                                                                      4.7%              3.6%              7.1%                     1.3%     2.1%      4.4%                              1.9%
Continental Alliance Ltd
              Continental Alliance Ltd        Meander May Valley int.Agri. (FCA 7                    2,342    4,780      544            5,101      147     840              3,662                1,776        19,191
              Total for Exporter: Continental Alliance Ltd                                           2,342    4,780     544             5,101     147      840              3,662               1,776        19,191
              Per Cent of Grand Total                                                                 0.7%     1.5%     0.4%             2.4%     0.1%    0.4%               1.5%                 0.7%         0.7%
Total for Continental Alliance Ltd                                                                   2,342    4,780     544             5,101     147      840              3,662               1,776        19,191
Per Cent of Grand Total                                                                               0.7%     1.5%     0.4%             2.4%     0.1%    0.4%               1.5%                 0.7%         0.7%
CS Boss International Ltd
              Stettin Bay Lumber Co. Ltd         Ania Kapiura Consolidated (11452)          7,490    8,011   25,351   15,910            4,631   10,160             3,906             8,580       5,246        89,284
                                                 Ania Kapuira Forest Pltn (TP 11403)                                                                                                 2,191                     2,191
              Total for Exporter: Stettin Bay Lumber Co. Ltd                                7,490    8,011   25,351   15,910            4,631   10,160            3,906             10,771      5,246        91,475
              Per Cent of Grand Total                                                        3.6%     2.4%     8.2%    11.4%             2.2%     3.5%             1.9%               4.5%        2.0%         3.2%
Total for CS Boss International Ltd                                                         7,490    8,011   25,351   15,910            4,631   10,160            3,906             10,771      5,246        91,475
Per Cent of Grand Total                                                                      3.6%     2.4%     8.2%    11.4%             2.2%     3.5%             1.9%               4.5%        2.0%         3.2%
DD Investment Ltd
              DD Investment Ltd              Bewani LFA (21001)                                                                         4,519    3,300                               4,224                    12,043
              Total for Exporter: DD Investment Ltd                                                                                     4,519    3,300                               4,224                   12,043
              Per Cent of Grand Total                                                                                                    2.1%     1.1%                                1.7%                     0.4%
Total for DD Investment Ltd                                                                                                             4,519    3,300                               4,224                   12,043
Per Cent of Grand Total                                                                                                                  2.1%     1.1%                                1.7%                     0.4%
East Papua Timber Resources Ltd
              East Papua Timber Resources L Brown River/Kuriva (10337)                        707               571                                                 299                633         656            2,866
              Total for Exporter: East Papua Timber Resources Ltd                            707               571                                                  299               633         656         2,866
              Per Cent of Grand Total                                                        0.3%              0.2%                                                0.1%               0.3%        0.2%         0.1%
Total for East Papua Timber Resources Ltd                                                    707               571                                                  299               633         656         2,866
Per Cent of Grand Total                                                                      0.3%              0.2%                                                0.1%               0.3%        0.2%         0.1%




      11- 3                                                                                                                                                          Report Number 11:       Page 3 of 11 pages

Page 52 screenshot
Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project    continued




                                                                                                                                         Month                                                        12-month
Co. Grouping Exporter                            SiteCode
                                                                                          12/20   11/20    10/20    9/20     8/20     7/20  6/20      5/20     4/20     3/20     2/20       1/20          total

Everwin Enterprises Ltd
              Everwin Enterprises Ltd            Kui - Buso Consolidated TRP (TP 113                 753             1,657                    1,645    3,274             2,231    1,887       2,264        13,711
                                                 Miama B TRP (TP 11337)                            5,124             3,119            1,092   1,685    3,366             2,827    1,824       1,210        20,247
                                                 Morobe Coast TRP (TP 11335) Mopi                  6,614    3,255                     1,063   2,254    5,896             4,771    4,332       1,648        29,831
              Total for Exporter: Everwin Enterprises Ltd                                         12,490    3,255   4,776             2,154   5,584   12,536            9,829    8,043       5,121        63,789
              Per Cent of Grand Total                                                               3.8%     1.0%    3.4%              1.0%    1.9%     5.4%             3.9%     3.3%         1.9%         2.2%
Total for Everwin Enterprises Ltd                                                                 12,490    3,255   4,776             2,154   5,584 12,536              9,829    8,043       5,121        63,789
Per Cent of Grand Total                                                                             3.8%     1.0%    3.4%              1.0%    1.9%     5.4%             3.9%     3.3%         1.9%         2.2%
Galeo South Pacific Ltd
              Galeo South Pacific Ltd         East Ferguson TRP (TP 10404)                                                                                      4,118                                          4,118
              Total for Exporter: Galeo South Pacific Ltd                                                                                                      4,118                                       4,118
              Per Cent of Grand Total                                                                                                                           2.0%                                        0.1%
Total for Galeo South Pacific Ltd                                                                                                                              4,118                                       4,118
Per Cent of Grand Total                                                                                                                                         2.0%                                        0.1%
GL Niugini Pty Ltd
              GL Niugini Pty Ltd              East Awin (TP 10101)                                 7,104    6,227             5,409                    8,480             1,733                             28,953
              Total for Exporter: GL Niugini Pty Ltd                                               7,104    6,227            5,409                     8,480            1,733                             28,953
              Per Cent of Grand Total                                                               2.1%     2.0%             2.8%                      3.6%             0.7%                               1.0%
Total for GL Niugini Pty Ltd                                                                       7,104    6,227            5,409                     8,480            1,733                             28,953
Per Cent of Grand Total                                                                             2.1%     2.0%             2.8%                      3.6%             0.7%                               1.0%
Global Elite Ltd
              Global Elite Ltd                 Wammy Rural Development Pro. (FCA                   3,516    8,380    2,603            4,347   1,220    5,932             3,084                6,375        35,459
              Total for Exporter: Global Elite Ltd                                                 3,516    8,380   2,603             4,347   1,220    5,932            3,084                6,375        35,459
              Per Cent of Grand Total                                                               1.1%     2.7%    1.9%              2.1%    0.4%     2.5%             1.2%                  2.4%         1.2%
Total for Global Elite Ltd                                                                         3,516    8,380   2,603             4,347   1,220    5,932            3,084                6,375        35,459
Per Cent of Grand Total                                                                             1.1%     2.7%    1.9%              2.1%    0.4%     2.5%             1.2%                  2.4%         1.2%
Golden Rise Investment Ltd
              Golden Rise Investment Ltd         Raicoast (11218)                                                                       403                                                                      403
                                                 Yagomi Bonga Gali (TA 12-201)                                                        7,801                                                                    7,801
              Total for Exporter: Golden Rise Investment Ltd                                                                          8,204                                                                8,204
              Per Cent of Grand Total                                                                                                  3.9%                                                                 0.3%
Total for Golden Rise Investment Ltd                                                                                                  8,204                                                                8,204
Per Cent of Grand Total                                                                                                                3.9%                                                                 0.3%




      11- 4                                                                                                                                                       Report Number 11:       Page 4 of 11 pages

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Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project    continued




                                                                                                                                          Month                                                          12-month
Co. Grouping Exporter                            SiteCode
                                                                                          12/20    11/20    10/20    9/20     8/20     7/20  6/20        5/20     4/20     3/20     2/20       1/20          total

IFL Investment Ltd
              IFL Investment Ltd             West Gadaisu TRP (10329)                                        4,950                      6,049                     13,324                                      24,323
              Total for Exporter: IFL Investment Ltd                                                         4,950                     6,049                      13,324                                     24,323
              Per Cent of Grand Total                                                                         1.6%                      2.9%                        6.3%                                       0.8%
Total for IFL Investment Ltd                                                                                 4,950                     6,049                      13,324                                     24,323
Per Cent of Grand Total                                                                                       1.6%                      2.9%                        6.3%                                       0.8%
Joinland Management (PNG) Limited
              Joinland Management (PNG) Li Lak TRP Project (TP 11643)                      3,473    4,009                                                                                                         7,482
              Total for Exporter: Joinland Management (PNG) Limited                        3,473    4,009                                                                                                     7,482
              Per Cent of Grand Total                                                       1.6%     1.2%                                                                                                      0.3%
Total for Joinland Management (PNG) Limited                                                3,473    4,009                                                                                                     7,482
Per Cent of Grand Total                                                                     1.6%     1.2%                                                                                                      0.3%
Kinmas Investment Ltd
              Kinmas Investment Ltd          Lako Imila (PNGFAL - 682/10)-20302           18,007                               8,210    5,282   10,864            16,950    6,693                             66,004
              Total for Exporter: Kinmas Investment Ltd                                   18,007                               8,210   5,282    10,864            16,950    6,693                            66,004
              Per Cent of Grand Total                                                       8.5%                                4.2%    2.5%      3.8%              8.0%     2.7%                              2.3%
Total for Kinmas Investment Ltd                                                           18,007                               8,210   5,282    10,864            16,950    6,693                            66,004
Per Cent of Grand Total                                                                     8.5%                                4.2%    2.5%      3.8%              8.0%     2.7%                              2.3%
KK Connections Ltd
              Chain Reaction Ltd              Inland Pomio TRP (TP 11549)                                                                                                             119                          119
              Total for Exporter: Chain Reaction Ltd                                                                                                                                  119                          119
              Per Cent of Grand Total                                                                                                                                                 0.0%                        0.0%
              KK Connections Ltd                 Seraji EXN TRP PROJ. (TP 11558)           3,558    7,225             7,778   13,927    9,565    3,614    8,052    4,921   13,556    9,760      22,746      104,701
                                                 Taraiwara(Ext) Agro Reforest.(FCA 71      6,247   13,735    3,555   11,409   12,047   10,365    5,019   15,093    3,752   12,701    6,924      19,760      120,606
              Total for Exporter: KK Connections Ltd                                       9,805   20,959    3,555   19,187   25,973 19,930      8,633   23,145    8,673   26,258 16,684 42,506             225,307
              Per Cent of Grand Total                                                       4.7%     6.3%     1.1%    13.8%    13.2%    9.4%      3.0%     9.9%     4.1%    10.5%     6.9%       16.1%         7.8%
              KL Connections Ltd                 Dengnenge 'B' Agro Forestry (FCA 715      8,164   23,951   11,842    2,178    1,072    4,538                                                                 51,746
                                                 Makolkol Intergrated Agri. (FCA 7150      3,733    3,780    3,831      394    2,016    7,797    9,346   11,101      723    6,405    1,712       3,645        54,486
              Total for Exporter: KL Connections Ltd                                      11,898   27,731   15,673    2,573    3,088 12,336      9,346   11,101     723     6,405   1,712       3,645       106,231
              Per Cent of Grand Total                                                       5.6%     8.3%     5.0%     1.8%     1.6%    5.8%      3.2%     4.8%     0.3%     2.6%     0.7%        1.4%         3.7%
              Laloani No.8 Ltd                   Dengnenge "A"Int, Agri Proj (FCA 715                        2,479      197                                          287                                       2,963
                                                 Dengnenge "A"Intergrated Agri (FCA7       2,637   19,276      513    2,335   11,800    5,360    5,444    1,397    6,647   12,440     887        3,796        72,533
              Total for Exporter: Laloani No.8 Ltd                                         2,637   19,276    2,992    2,533   11,800   5,360     5,444    1,397    6,935   12,440     887       3,796        75,496
              Per Cent of Grand Total                                                       1.3%     5.8%     1.0%     1.8%     6.0%    2.5%      1.9%     0.6%     3.3%     5.0%     0.4%        1.4%         2.6%



      11- 5                                                                                                                                                           Report Number 11:      Page 5 of 11 pages

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Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project   continued




                                                                                                                                         Month                                                         12-month
Co. Grouping Exporter                            SiteCode
                                                                                         12/20    11/20    10/20    9/20     8/20     7/20  6/20       5/20     4/20     3/20     2/20       1/20          total

              Super Green Ltd                Ormand Lako TRP Project (TP 10330)                    8,014                      6,892           12,492             5,348    6,956    4,637       4,958        49,297
              Total for Exporter: Super Green Ltd                                                  8,014                      6,892           12,492             5,348    6,956    4,637      4,958        49,297
              Per Cent of Grand Total                                                               2.4%                       3.5%             4.3%              2.5%     2.8%     1.9%        1.9%         1.7%
Total for KK Connections Ltd                                                             24,340   75,980   22,220   24,292   47,753 37,626    35,915 35,643     21,678   52,059 24,039       54,905      456,450
Per Cent of Grand Total                                                                   11.5%    22.9%     7.1%    17.4%    24.3%   17.8%    12.4%   15.3%     10.3%    20.8%     9.9%       20.8%       15.8%
Low Impact Logging Ltd
              Low Impact Logging Ltd         Buhem Mongi Busiga (11338)                                     4,667                                       7,924                      9,813                    22,404
              Total for Exporter: Low Impact Logging Ltd                                                    4,667                                      7,924                       9,813                   22,404
              Per Cent of Grand Total                                                                        1.5%                                       3.4%                        4.1%                     0.8%
Total for Low Impact Logging Ltd                                                                            4,667                                      7,924                       9,813                   22,404
Per Cent of Grand Total                                                                                      1.5%                                       3.4%                        4.1%                     0.8%
Lucky 99 (PNG) Ltd
              Lucky 99 (PNG) Ltd             Apong Agric - (FCA 71301)                             2,197                                       2,803                      2,438                                 7,439
              Total for Exporter: Lucky 99 (PNG) Ltd                                               2,197                                       2,803                      2,438                             7,439
              Per Cent of Grand Total                                                               0.7%                                        1.0%                       1.0%                              0.3%
              Lucky Logging Limited          Semon (FCA 71302)                                     8,257                              8,966                                        4,080                    21,302
              Total for Exporter: Lucky Logging Limited                                            8,257                              8,966                                        4,080                   21,302
              Per Cent of Grand Total                                                               2.5%                               4.3%                                         1.7%                     0.7%
Total for Lucky 99 (PNG) Ltd                                                                      10,454                              8,966    2,803                      2,438    4,080                   28,741
Per Cent of Grand Total                                                                             3.1%                               4.3%     1.0%                       1.0%     1.7%                     1.0%
Mekar (PNG) Limited
              Mekar (PNG) Limited           Aliai-Sisimi-Hargy Consolidated TP 11         5,385    4,251             5,169            6,163                      5,782                                      26,750
              Total for Exporter: Mekar (PNG) Limited                                     5,385    4,251             5,169            6,163                      5,782                                     26,750
              Per Cent of Grand Total                                                      2.6%     1.3%              3.7%             2.9%                       2.7%                                       0.9%
Total for Mekar (PNG) Limited                                                             5,385    4,251             5,169            6,163                      5,782                                     26,750
Per Cent of Grand Total                                                                    2.6%     1.3%              3.7%             2.9%                       2.7%                                       0.9%
Millennium Corporation Ltd
              Millennium Corporation Ltd         Nakmai LFA (TP 11601)                             3,785                                       7,121                               6,431       4,396        21,734
                                                 Tewelas: Konos-Pue TRP (TP11632)                           3,908                              7,811                                           6,562        18,281
                                                 Ugana LFA (TP16-2)                                6,935    6,209                              4,405                               4,756                    22,304
              Total for Exporter: Millennium Corporation Ltd                                      10,720   10,117                             19,337                              11,187 10,958            62,319
              Per Cent of Grand Total                                                               3.2%     3.3%                               6.7%                                4.6%        4.1%         2.2%
Total for Millennium Corporation Ltd                                                              10,720   10,117                             19,337                              11,187     10,958        62,319
Per Cent of Grand Total                                                                             3.2%     3.3%                               6.7%                                4.6%        4.1%         2.2%



      11- 6                                                                                                                                                         Report Number 11:      Page 6 of 11 pages

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Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project   continued




                                                                                                                                         Month                                                 12-month
Co. Grouping Exporter                            SiteCode
                                                                                         12/20    11/20    10/20    9/20     8/20     7/20  6/20     5/20   4/20     3/20   2/20     1/20          total

Musa Century Limited
              Musa Century Limited          Lower Musa Agro, (FCA 70505)                           5,299                                                                                                5,299
              Total for Exporter: Musa Century Limited                                             5,299                                                                                            5,299
              Per Cent of Grand Total                                                               1.6%                                                                                             0.2%
Total for Musa Century Limited                                                                     5,299                                                                                            5,299
Per Cent of Grand Total                                                                             1.6%                                                                                             0.2%
Northern Forest Products Ltd
              Northern Forest Products Ltd Wanigela Tree Plantation (FCA 70506)                    5,422                                                                                                5,422
              Total for Exporter: Northern Forest Products Ltd                                     5,422                                                                                            5,422
              Per Cent of Grand Total                                                               1.6%                                                                                             0.2%
Total for Northern Forest Products Ltd                                                             5,422                                                                                            5,422
Per Cent of Grand Total                                                                             1.6%                                                                                             0.2%
Open Bay Timber Ltd
              Open Bay Timber Ltd            Open Bay Consolidated [Pltn] (11501)         6,007                      6,869    6,009          5,757                                     6,014        30,657
              Total for Exporter: Open Bay Timber Ltd                                     6,007                     6,869    6,009           5,757                                    6,014        30,657
              Per Cent of Grand Total                                                      2.8%                      4.9%     3.1%            2.0%                                      2.3%         1.1%
Total for Open Bay Timber Ltd                                                             6,007                     6,869    6,009           5,757                                    6,014        30,657
Per Cent of Grand Total                                                                    2.8%                      4.9%     3.1%            2.0%                                      2.3%         1.1%
Oro Wood Industry Ltd
              Oro Wood Industry Ltd          Ifane Agro-Forest Project - (FCA 7050                          9,044                           10,602           1,536                    11,809        32,992
              Total for Exporter: Oro Wood Industry Ltd                                                     9,044                           10,602          1,536                    11,809        32,992
              Per Cent of Grand Total                                                                        2.9%                             3.7%           0.7%                       4.5%         1.1%
Total for Oro Wood Industry Ltd                                                                             9,044                           10,602          1,536                    11,809        32,992
Per Cent of Grand Total                                                                                      2.9%                             3.7%           0.7%                       4.5%         1.1%
PJ Plantation Limited
              PJ Plantation Limited           Idam-Saiwi Inter Agri Proj (FCA 10-09       7,791                                              6,820                                                  14,611
              Total for Exporter: PJ Plantation Limited                                   7,791                                              6,820                                                 14,611
              Per Cent of Grand Total                                                      3.7%                                               2.4%                                                   0.5%
Total for PJ Plantation Limited                                                           7,791                                              6,820                                                 14,611
Per Cent of Grand Total                                                                    3.7%                                               2.4%                                                   0.5%
Reko (PNG) Ltd
              Reko (PNG) Ltd                 East Kikori (Urama Gopera) (10215)                                                                                                        3,411            3,411
              Total for Exporter: Reko (PNG) Ltd                                                                                                                                      3,411         3,411
              Per Cent of Grand Total                                                                                                                                                   1.3%         0.1%


      11- 7                                                                                                                                                    Report Number 11:   Page 7 of 11 pages

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                                                                                                                                           Month                                                         12-month
Co. Grouping Exporter                            SiteCode
                                                                                           12/20    11/20    10/20    9/20     8/20     7/20  6/20       5/20     4/20     3/20     2/20       1/20          total

Total for Reko (PNG) Ltd                                                                                                                                                                        3,411         3,411
Per Cent of Grand Total                                                                                                                                                                           1.3%         0.1%
Rimbunan Hijau (PNG) Ltd
              Island Forest Resources Ltd      Anu Alimbit LFA (21405)                                                                                             5,110                         9,980        15,090
              Total for Exporter: Island Forest Resources Ltd                                                                                                      5,110                        9,980        15,090
              Per Cent of Grand Total                                                                                                                               2.4%                          3.8%         0.5%
              Niugini International Corporatio Turama (10212)                                                                                            11,353            13,886                8,235        33,474
                                                 Vailala Block 1 (10214)                                                                                  5,697             4,604    3,773       5,499        19,573
              Total for Exporter: Niugini International Corporation Ltd                                                                                  17,050            18,490    3,773 13,734            53,047
              Per Cent of Grand Total                                                                                                                      7.3%              7.4%     1.6%        5.2%         1.8%
              Niugini Lumber Merchants Ltd Andru Johana (LFA 21410)                                                    9,312              977   10,187            11,615                         7,444        39,535
                                                 Awio Amgen (21409)                                                                                                8,792                        17,641        26,433
              Total for Exporter: Niugini Lumber Merchants Ltd                                                        9,312              977    10,187            20,407                       25,086        65,968
              Per Cent of Grand Total                                                                                  6.7%              0.5%     3.5%              9.7%                          9.5%         2.3%
              Saban Enterprises Ltd              Huhu Forest Plantation (TA 34088)                   7,330                                      12,932                                                        20,262
                                                 Sagarai Gadaisu (TP 10403)                                                                                        2,704    4,460                              7,163
              Total for Exporter: Saban Enterprises Ltd                                              7,330                                      12,932             2,704    4,460                            27,426
              Per Cent of Grand Total                                                                 2.2%                                        4.5%              1.3%     1.8%                              0.9%
              Sinaran Papua Ltd              Turama Extension - Faia (10212a)                                                                                               2,336                2,501            4,837
              Total for Exporter: Sinaran Papua Ltd                                                                                                                         2,336               2,501         4,837
              Per Cent of Grand Total                                                                                                                                        0.9%                 0.9%         0.2%
              Wawoi Guavi Timber Co Ltd          Wawoi Guavi (10107)                        5,800             6,521                              3,464    5,060   15,881             8,806                    45,533
              Total for Exporter: Wawoi Guavi Timber Co Ltd                                 5,800             6,521                              3,464    5,060   15,881             8,806                   45,533
              Per Cent of Grand Total                                                        2.8%              2.1%                               1.2%     2.2%     7.5%              3.6%                     1.6%
Total for Rimbunan Hijau (PNG) Ltd                                                          5,800    7,330    6,521   9,312              977    26,583 22,110     44,102   25,285 12,580       51,301      211,901
Per Cent of Grand Total                                                                      2.8%     2.2%     2.1%    6.7%              0.5%     9.2%     9.5%    20.9%    10.1%     5.2%       19.4%        7.3%
Samas Ltd
              Samas Ltd                     Aitape Lumi Consolidated FMA (6100                       8,526   33,958            24,133           21,596   26,287                     10,149                  124,651
              Total for Exporter: Samas Ltd                                                          8,526   33,958            24,133           21,596   26,287                     10,149                  124,651
              Per Cent of Grand Total                                                                 2.6%    10.9%             12.3%             7.5%    11.3%                       4.2%                     4.3%
Total for Samas Ltd                                                                                  8,526   33,958            24,133           21,596 26,287                       10,149                 124,651
Per Cent of Grand Total                                                                               2.6%    10.9%             12.3%             7.5%    11.3%                       4.2%                    4.3%




      11- 8                                                                                                                                                           Report Number 11:      Page 8 of 11 pages

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Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project     continued




                                                                                                                                         Month                                                         12-month
Co. Grouping Exporter                            SiteCode
                                                                                           12/20    11/20    10/20    9/20     8/20   7/20  6/20       5/20     4/20     3/20     2/20       1/20          total

Summit Agriculture Ltd
              Summit Agriculture Ltd             Gwenif Wagasu Agro-Forestry (FCA 7                  3,236    9,393      986           3,434              438             2,582                2,471        22,540
                                                 Lower Sepik (LFA 21101)                             2,266    2,453                    6,879              551             8,076                  642        20,867
                                                 Wewak/Turubu (FCA 71103)                            1,802    5,415      987           7,087            2,350             8,523                  714        26,877
              Total for Exporter: Summit Agriculture Ltd                                             7,303   17,261    1,973          17,401            3,339            19,181               3,827        70,285
              Per Cent of Grand Total                                                                 2.2%     5.6%     1.4%            8.2%             1.4%              7.7%                 1.4%         2.4%
Total for Summit Agriculture Ltd                                                                     7,303   17,261    1,973          17,401            3,339            19,181               3,827        70,285
Per Cent of Grand Total                                                                               2.2%     5.6%     1.4%            8.2%             1.4%              7.7%                 1.4%         2.4%
Sunland Limited
              Sunland Limited                Idam-saiwi Inter Agri Proj (FCA 10-09                            9,273                                                                                             9,273
              Total for Exporter: Sunland Limited                                                             9,273                                                                                         9,273
              Per Cent of Grand Total                                                                          3.0%                                                                                          0.3%
Total for Sunland Limited                                                                                     9,273                                                                                         9,273
Per Cent of Grand Total                                                                                        3.0%                                                                                          0.3%
Tangoy Vivafounder Holdings Limited
              Tangoy Vivafounder Holdings Li Idam-Saiwi Inter Agri Proj (FCA 7100                                                                                         3,225                                 3,225
              Total for Exporter: Tangoy Vivafounder Holdings Limited                                                                                                     3,225                             3,225
              Per Cent of Grand Total                                                                                                                                      1.3%                              0.1%
Total for Tangoy Vivafounder Holdings Limited                                                                                                                             3,225                             3,225
Per Cent of Grand Total                                                                                                                                                    1.3%                              0.1%
Tutuman Development Ltd
              Maxland (PNG) Ltd              Pohowa Agro_Forestry (FCA 71801)               6,524                                              1,665                               8,248                    16,436
              Total for Exporter: Maxland (PNG) Ltd                                         6,524                                              1,665                               8,248                   16,436
              Per Cent of Grand Total                                                        3.1%                                               0.6%                                3.4%                     0.6%
              Millionplus Corporation Ltd        Konoagil Inter.Agri.Proj. (FCA 71603)      7,001    5,009   15,529   26,898          24,848           10,451    9,651   13,749   10,508      15,005      138,647
              Total for Exporter: Millionplus Corporation Ltd                               7,001    5,009   15,529   26,898          24,848           10,451   9,651    13,749 10,508 15,005             138,647
              Per Cent of Grand Total                                                        3.3%     1.5%     5.0%    19.3%           11.8%             4.5%    4.6%      5.5%     4.3%        5.7%         4.8%
Total for Tutuman Development Ltd                                                          13,525    5,009   15,529   26,898          24,848   1,665 10,451     9,651    13,749 18,755       15,005      155,083
Per Cent of Grand Total                                                                      6.4%     1.5%     5.0%    19.3%           11.8%    0.6%     4.5%    4.6%      5.5%     7.8%        5.7%        5.4%
Uni Rise Ltd
              Lawrence Wood Ltd                  Lolo Blk 2 Ext. (21412)                                                                       2,263                                                         2,263
                                                 Lolo Block 1 (21402)                                                                          1,188                               6,761                     7,949
                                                 Lolo Block 2 (21403)                                                                                                             13,531                    13,531
              Total for Exporter: Lawrence Wood Ltd                                                                                            3,452                              20,292                   23,744
              Per Cent of Grand Total                                                                                                           1.2%                                8.4%                     0.8%

      11- 9                                                                                                                                                        Report Number 11:       Page 9 of 11 pages

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Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project   continued




                                                                                                                                         Month                                                         12-month
Co. Grouping Exporter                            SiteCode
                                                                                         12/20    11/20    10/20    9/20     8/20     7/20  6/20        5/20     4/20     3/20     2/20       1/20         total

Total for Uni Rise Ltd                                                                                                                          3,452                              20,292                  23,744
Per Cent of Grand Total                                                                                                                          1.2%                                8.4%                    0.8%
Vanimo Jaya Ltd
             Border International Timber Co. Bewani LFA (21001)                                                      2,122                                                          3,528                       5,650
                                                 Numbung Agriculture (TA 31095)                                                                                                     4,485                       4,485
             Total for Exporter: Border International Timber Co. Ltd                                                 2,122                                                          8,013                  10,135
             Per Cent of Grand Total                                                                                  1.5%                                                           3.3%                    0.4%
             Sentawan (PNG) Ltd             DANFU Block 12,13,14,15&18 (1164                                9,255            15,236    8,084                     19,448                                     52,023
             Total for Exporter: Sentawan (PNG) Ltd                                                         9,255            15,236    8,084                     19,448                                    52,023
             Per Cent of Grand Total                                                                         3.0%              7.8%     3.8%                       9.2%                                      1.8%
             Vanimo Jaya Ltd                Makapa Timber Area (10109)                   10,525   13,068                      1,637                     16,924    9,249   24,434              16,536        92,373
             Total for Exporter: Vanimo Jaya Ltd                                         10,525   13,068                      1,637                     16,924    9,249   24,434             16,536        92,373
             Per Cent of Grand Total                                                       5.0%     3.9%                       0.8%                       7.3%     4.4%     9.8%                6.3%         3.2%
             VJ Holdings Limited             Ulamona consolidated TRP (TP 11443                    2,306             2,210             6,117                                                                10,633
             Total for Exporter: VJ Holdings Limited                                               2,306             2,210             6,117                                                               10,633
             Per Cent of Grand Total                                                                0.7%              1.6%              2.9%                                                                 0.4%
Total for Vanimo Jaya Ltd                                                                10,525   15,374    9,255    4,332   16,873 14,201              16,924   28,697   24,434    8,013    16,536      165,164
Per Cent of Grand Total                                                                    5.0%     4.6%     3.0%     3.1%     8.6%     6.7%              7.3%    13.6%     9.8%     3.3%       6.3%        5.7%
Viva Success Ltd
             Viva Success Ltd                Central New Ireland (11642)                          20,498   12,970   10,071             4,496   14,807   10,706                                22,065        95,612
             Total for Exporter: Viva Success Ltd                                                 20,498   12,970   10,071             4,496   14,807   10,706                               22,065        95,612
             Per Cent of Grand Total                                                                6.2%     4.2%     7.2%              2.1%     5.1%     4.6%                                  8.3%         3.3%
Total for Viva Success Ltd                                                                        20,498   12,970   10,071             4,496   14,807 10,706                                 22,065        95,612
Per Cent of Grand Total                                                                             6.2%     4.2%     7.2%              2.1%     5.1%     4.6%                                  8.3%         3.3%
Wood Man Timber Ltd
             Wood Man Timber Ltd           Tikana ( Kaut) Forest Pltn (TA 31669)                                              8,113             5,557                                                       13,670
             Total for Exporter: Wood Man Timber Ltd                                                                          8,113             5,557                                                      13,670
             Per Cent of Grand Total                                                                                           4.1%              1.9%                                                        0.5%
Total for Wood Man Timber Ltd                                                                                                 8,113             5,557                                                      13,670
Per Cent of Grand Total                                                                                                        4.1%              1.9%                                                        0.5%
WTK Realty Ltd
             Amanab Forest Products Ltd    Amanab Blocks 1-4 FMA (61001)                 22,040   13,340   17,031                     28,460            27,319                      9,085                 117,274
             Total for Exporter: Amanab Forest Products Ltd                              22,040   13,340   17,031                     28,460            27,319                      9,085                 117,274
             Per Cent of Grand Total                                                      10.5%     4.0%     5.5%                      13.5%             11.7%                       3.8%                    4.1%



      11- 10                                                                                                                                                         Report Number 11:    Page 10 of 11 pages

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Report - Monthly Actual Shipped Volumes (m3) by Export Company and Project   continued




                                                                                                                                       Month                                                        12-month
Co. Grouping Exporter                            SiteCode
                                                                                         12/20    11/20    10/20    9/20   8/20     7/20  6/20       5/20     4/20     3/20     2/20       1/20         total

             Logohu Limited                 Mussau TRP Project (TP 11641)                         18,912    7,882                           18,009                                         15,927        60,731
             Total for Exporter: Logohu Limited                                                   18,912    7,882                           18,009                                        15,927        60,731
             Per Cent of Grand Total                                                                5.7%     2.5%                             6.2%                                           6.0%         2.1%
             Pacific Region Development Ltd Far North Coast TRP (TP 11212)                                 10,487                           10,777                               4,812      2,791        28,866
                                                 Gar Consolidated TRP (TP 11544)          6,765   16,445                   11,208                     7,785             4,353                            46,556
                                                 Senbam Cons. TRP (TP11552)              10,349   36,611                    3,681            3,942   14,153            17,463                            86,198
                                                 Waterfall bay Extn CONS.TRP(TP 11        9,145                             7,564   3,177                      4,347    6,598    9,289                   40,120
             Total for Exporter: Pacific Region Development Ltd                          26,259   53,056   10,487          22,453   3,177   14,719   21,938   4,347    28,414 14,100       2,791       201,741
             Per Cent of Grand Total                                                      12.5%    16.0%     3.4%           11.4%    1.5%     5.1%     9.4%    2.1%     11.3%     5.8%       1.1%         7.0%
             Reach Niugini Construction     Gara Modewa TRP (TP 10406)                                                                      17,725                              10,994                   28,719
             Total for Exporter: Reach Niugini Construction                                                                                 17,725                              10,994                  28,719
             Per Cent of Grand Total                                                                                                          6.1%                                4.5%                    1.0%
Total for WTK Realty Ltd                                                                 48,299   85,308   35,400          22,453 31,638    50,453 49,257     4,347    28,414 34,179      18,718      408,465
Per Cent of Grand Total                                                                   22.9%    25.7%    11.4%           11.4%   15.0%    17.4%    21.1%    2.1%     11.3%    14.1%       7.1%       14.1%

Grand Total:                                                                         210,841 332,400 310,781 139,533 196,475 210,922 289,566 233,143 210,640 250,512 241,947 264,374                2,891,135




      11- 11                                                                                                                                                     Report Number 11:     Page 11 of 11 pages

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Log Exports by Project Site (Volume and Value) for December - 2020, and Year to Date
Date printed: 29/01/2021 9:10:07 am
                                                                                     --------------------------- December / 2020 -------------------------       --------------------------- Year to Date ------------------------------
Co. Grouping             Exporter            Site Code                               No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                                Value, K

Agri Bisnis Ltd
                         Agri Bisnis Ltd
                                             Autuvo Extension (21407)                                                                                                      2                 13,865.504                3,398,140.88
                         Total for Exporter: Agri Bisnis Ltd                                                                                                             2                  13,865.504               3,398,140.88
                         Per Cent of Grand Total                                                                                                                      0.3%                       0.5%                       0.4%
Total for Agri Bisnis Ltd                                                                                                                                               2                 13,865.504               3,398,140.88
Per Cent of Grand Total                                                                                                                                              0.3%                      0.5%                       0.4%
Amanab 56 Timber Investments Ltd
                         Amanab 56 Timber Investments Ltd
                                             Amanab Blocks 5 & 6 FMA 110-4 (61002)           4                   27,876.082            20,936,222.02                      17                 86,414.325              68,483,813.48
                         Total for Exporter: Amanab 56 Timber Investments Ltd             4                    27,876.082            20,936,222.02                      17                  86,414.325             68,483,813.48
                         Per Cent of Grand Total                                      10.3%                        13.2%                    24.8%                     2.3%                       3.0%                      7.5%
Total for Amanab 56 Timber Investments Ltd                                                4                   27,876.082           20,936,222.02                        17                86,414.325             68,483,813.48
Per Cent of Grand Total                                                              10.3%                        13.2%                   24.8%                      2.3%                      3.0%                      7.5%
Aset Meriah (PNG) Ltd
                         Aset Meriah (PNG) Ltd
                                             Alimbit Andru (TP 11408)                        1                   15,157.690             4,446,932.31                       7                 50,583.517              13,675,850.03
                                             Pasismanua Ext (TP 11414)                                                                                                     4                 12,995.990               3,345,570.66
                                             Umboi Island (11327)                                                                                                          2                  8,558.810               1,939,837.35
                         Total for Exporter: Aset Meriah (PNG) Ltd                         1                   15,157.690              4,446,932.31                     13                  72,138.317             18,961,258.04
                         Per Cent of Grand Total                                        2.6%                        7.2%                      5.3%                    1.8%                       2.5%                      2.1%
                         Milton Limited
                                             Mosaleim TRP (TP 11457)                                                                                                      12                 48,514.963              11,663,291.94

 12- 1                                                                                                                                                       Report Number 12:       Page 1 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

                                          Pakalua Agri. Forestry Intr (FCA 71402)                                                                                           1                   1,478.623                 358,111.81
                     Total for Exporter: Milton Limited                                                                                                                  13                  49,993.586             12,021,403.74
                     Per Cent of Grand Total                                                                                                                           1.8%                       1.7%                      1.3%
Total for Aset Meriah (PNG) Ltd                                                            1                   15,157.690             4,446,932.31                       26              122,131.903              30,982,661.78
Per Cent of Grand Total                                                                2.6%                         7.2%                     5.3%                     3.6%                     4.2%                       3.4%
Bismarck Industries Ltd
                     Bismarck Industries Ltd
                                          Kapuluk Timber Project (11450)                                                                                                    5                 24,506.418                6,851,518.37
                     Total for Exporter: Bismarck Industries Ltd                                                                                                          5                  24,506.418               6,851,518.37
                     Per Cent of Grand Total                                                                                                                           0.7%                       0.8%                       0.8%
Total for Bismarck Industries Ltd                                                                                                                                        5                 24,506.418               6,851,518.37
Per Cent of Grand Total                                                                                                                                               0.7%                      0.8%                       0.8%
Border International Timber Co. Ltd
                     Border International Timber Co. Ltd
                                          Numbung Agri Blk (TA10-117)                                                                                                       1                   2,981.577               1,472,552.85
                                          Wepa Agri Blk (TA 10-118)                                                                                                         1                   1,401.792                 563,309.37
                     Total for Exporter: Border International Timber Co. Ltd                                                                                              2                   4,383.369               2,035,862.22
                     Per Cent of Grand Total                                                                                                                           0.3%                       0.2%                       0.2%
Total for Border International Timber Co. Ltd                                                                                                                            2                   4,383.369              2,035,862.22
Per Cent of Grand Total                                                                                                                                               0.3%                       0.2%                      0.2%
Brilliant Investment Ltd
                     DD Investment Ltd
                                          Bewani LFA (21001)                                                                                                                3                   5,263.171               3,186,770.00
                     Total for Exporter: DD Investment Ltd                                                                                                                3                   5,263.171               3,186,770.00
                     Per Cent of Grand Total                                                                                                                           0.4%                       0.2%                       0.3%
Total for Brilliant Investment Ltd                                                                                                                                       3                   5,263.171              3,186,770.00
Per Cent of Grand Total                                                                                                                                               0.4%                       0.2%                      0.3%



 12- 2                                                                                                                                                        Report Number 12:       Page 2 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

Cakara Alam (PNG) Ltd
                     Cakara Alam (PNG) Ltd
                                          East Arawe (11455)                                  2                    6,551.545             1,736,904.92                      14                 60,723.395              16,766,818.95
                                          Pulie Anu LFA (21404)                                                                                                            19                 63,382.799              18,515,762.15
                                          Rottock Bay Consolidated (61402)                                                                                                 25                 85,911.746              23,703,470.88
                     Total for Exporter: Cakara Alam (PNG) Ltd                              2                     6,551.545             1,736,904.92                     58                210,017.940              58,986,051.98
                     Per Cent of Grand Total                                             5.1%                         3.1%                     2.1%                    8.0%                      7.3%                       6.5%
                     Tzen Niugini Ltd
                                          Cape Offord (TP 11548)                                                                                                            5                 14,937.135                3,630,601.10
                                          Illi Wawas/Masarau (FCA 71502)                                                                                                   10                 20,609.233                4,898,505.68
                     Total for Exporter: Tzen Niugini Ltd                                                                                                                15                  35,546.368               8,529,106.78
                     Per Cent of Grand Total                                                                                                                           2.1%                       1.2%                       0.9%
                     Tzen Pacific Ltd
                                          Aria Vanu Blk 3 (21413)                                                                                                           1                   1,235.269                 380,447.48
                     Total for Exporter: Tzen Pacific Ltd                                                                                                                 1                   1,235.269                 380,447.48
                     Per Cent of Grand Total                                                                                                                           0.1%                       0.0%                       0.0%
Total for Cakara Alam (PNG) Ltd                                                            2                     6,551.545            1,736,904.92                      74               246,799.577              67,895,606.24
Per Cent of Grand Total                                                                5.1%                          3.1%                    2.1%                   10.2%                      8.5%                       7.4%
Canopus No. 16 Ltd
                     Canopus No. 16 Ltd
                                          Wipim Tapila FMA (60110)                            2                    9,906.221             2,095,977.54                      11                 53,734.164              11,351,045.37
                     Total for Exporter: Canopus No. 16 Ltd                                 2                     9,906.221             2,095,977.54                     11                  53,734.164             11,351,045.37
                     Per Cent of Grand Total                                             5.1%                         4.7%                     2.5%                    1.5%                       1.9%                      1.2%
Total for Canopus No. 16 Ltd                                                               2                     9,906.221            2,095,977.54                       11                53,734.164             11,351,045.37
Per Cent of Grand Total                                                                5.1%                          4.7%                    2.5%                     1.5%                      1.9%                      1.2%
Continental Alliance Ltd
                     Continental Alliance Ltd
                                          Meander May Valley int.Agri. (FCA 71105)                                                                                         14                 19,191.277                4,751,731.19
                     Total for Exporter: Continental Alliance Ltd                                                                                                        14                  19,191.277               4,751,731.19
                     Per Cent of Grand Total                                                                                                                           1.9%                       0.7%                       0.5%

 12- 3                                                                                                                                                        Report Number 12:       Page 3 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

Total for Continental Alliance Ltd                                                                                                                                       14                19,191.277               4,751,731.19
Per Cent of Grand Total                                                                                                                                               1.9%                      0.7%                       0.5%
CS Boss International Ltd
                     Stettin Bay Lumber Co. Ltd
                                          Ania Kapiura Consolidated (11452)                   2                    7,489.966             2,238,220.48                      30                 89,284.076              27,034,514.62
                                          Ania Kapuira Forest Pltn (TP 11403)                                                                                               1                  2,191.111                 625,527.01
                     Total for Exporter: Stettin Bay Lumber Co. Ltd                         2                     7,489.966             2,238,220.48                     31                  91,475.187             27,660,041.63
                     Per Cent of Grand Total                                             5.1%                         3.6%                     2.7%                    4.3%                       3.2%                      3.0%
Total for CS Boss International Ltd                                                        2                     7,489.966            2,238,220.48                       31                91,475.187             27,660,041.63
Per Cent of Grand Total                                                                5.1%                          3.6%                    2.7%                     4.3%                      3.2%                      3.0%
DD Investment Ltd
                     DD Investment Ltd
                                          Bewani LFA (21001)                                                                                                                4                 12,042.928                6,593,940.07
                     Total for Exporter: DD Investment Ltd                                                                                                                4                  12,042.928               6,593,940.07
                     Per Cent of Grand Total                                                                                                                           0.5%                       0.4%                       0.7%
Total for DD Investment Ltd                                                                                                                                              4                 12,042.928               6,593,940.07
Per Cent of Grand Total                                                                                                                                               0.5%                      0.4%                       0.7%
East Papua Timber Resources Ltd
                     East Papua Timber Resources Ltd
                                          Brown River/Kuriva (10337)                          2                       707.441               629,995.71                      6                   2,866.287               2,510,276.77
                     Total for Exporter: East Papua Timber Resources Ltd                    2                       707.441               629,995.71                      6                   2,866.287               2,510,276.77
                     Per Cent of Grand Total                                             5.1%                         0.3%                     0.7%                    0.8%                       0.1%                       0.3%
Total for East Papua Timber Resources Ltd                                                  2                       707.441               629,995.71                      6                   2,866.287              2,510,276.77
Per Cent of Grand Total                                                                5.1%                          0.3%                     0.7%                    0.8%                       0.1%                      0.3%
Everwin Enterprises Ltd
                     Everwin Enterprises Ltd
                                          Kui - Buso Consolidated TRP (TP 11332)                                                                                           10                 13,710.583                3,329,750.47
                                          Miama B TRP (TP 11337)                                                                                                           19                 20,246.943                4,841,212.53
                                          Morobe Coast TRP (TP 11335) Mopi Camp                                                                                            10                 29,831.285                7,303,003.69

 12- 4                                                                                                                                                        Report Number 12:       Page 4 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

                     Total for Exporter: Everwin Enterprises Ltd                                                                                                         39                  63,788.811             15,473,966.68
                     Per Cent of Grand Total                                                                                                                           5.3%                       2.2%                      1.7%
Total for Everwin Enterprises Ltd                                                                                                                                        39                63,788.811             15,473,966.68
Per Cent of Grand Total                                                                                                                                               5.3%                      2.2%                      1.7%
Galeo South Pacific Ltd
                     Galeo South Pacific Ltd
                                          East Ferguson TRP (TP 10404)                                                                                                      2                   4,118.416                 985,335.65
                     Total for Exporter: Galeo South Pacific Ltd                                                                                                          2                   4,118.416                 985,335.65
                     Per Cent of Grand Total                                                                                                                           0.3%                       0.1%                       0.1%
Total for Galeo South Pacific Ltd                                                                                                                                        2                   4,118.416                 985,335.65
Per Cent of Grand Total                                                                                                                                               0.3%                       0.1%                       0.1%
GL Niugini Pty Ltd
                     GL Niugini Pty Ltd
                                          East Awin (TP 10101)                                                                                                              7                 28,953.282                8,608,329.27
                     Total for Exporter: GL Niugini Pty Ltd                                                                                                               7                  28,953.282               8,608,329.27
                     Per Cent of Grand Total                                                                                                                           1.0%                       1.0%                       0.9%
Total for GL Niugini Pty Ltd                                                                                                                                             7                 28,953.282               8,608,329.27
Per Cent of Grand Total                                                                                                                                               1.0%                      1.0%                       0.9%
Global Elite Ltd
                     Global Elite Ltd
                                          Wammy Rural Development Pro. (FCA71007)                                                                                          13                 35,458.534              10,968,341.28
                     Total for Exporter: Global Elite Ltd                                                                                                                13                  35,458.534             10,968,341.28
                     Per Cent of Grand Total                                                                                                                           1.8%                       1.2%                      1.2%
Total for Global Elite Ltd                                                                                                                                               13                35,458.534             10,968,341.28
Per Cent of Grand Total                                                                                                                                               1.8%                      1.2%                      1.2%
Golden Rise Investment Ltd
                     Golden Rise Investment Ltd
                                          Raicoast (11218)                                                                                                                  1                     402.606                  68,354.16
                                          Yagomi Bonga Gali (TA 12-201)                                                                                                     1                   7,801.141               1,730,248.54
 12- 5                                                                                                                                                        Report Number 12:       Page 5 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

                     Total for Exporter: Golden Rise Investment Ltd                                                                                                       2                   8,203.747               1,798,602.70
                     Per Cent of Grand Total                                                                                                                           0.3%                       0.3%                       0.2%
Total for Golden Rise Investment Ltd                                                                                                                                     2                   8,203.747              1,798,602.70
Per Cent of Grand Total                                                                                                                                               0.3%                       0.3%                      0.2%
IFL Investment Ltd
                     IFL Investment Ltd
                                          West Gadaisu TRP (10329)                                                                                                          4                 24,323.102                5,903,692.88
                     Total for Exporter: IFL Investment Ltd                                                                                                               4                  24,323.102               5,903,692.88
                     Per Cent of Grand Total                                                                                                                           0.5%                       0.8%                       0.6%
Total for IFL Investment Ltd                                                                                                                                             4                 24,323.102               5,903,692.88
Per Cent of Grand Total                                                                                                                                               0.5%                      0.8%                       0.6%
Joinland Management (PNG) Limited
                     Joinland Management (PNG) Limited
                                          Lak TRP Project (TP 11643)                          1                    3,473.215             1,197,610.74                       2                   7,482.046               2,589,659.37
                     Total for Exporter: Joinland Management (PNG) Limited                  1                     3,473.215             1,197,610.74                      2                   7,482.046               2,589,659.37
                     Per Cent of Grand Total                                             2.6%                         1.6%                     1.4%                    0.3%                       0.3%                       0.3%
Total for Joinland Management (PNG) Limited                                                1                     3,473.215            1,197,610.74                       2                   7,482.046              2,589,659.37
Per Cent of Grand Total                                                                2.6%                          1.6%                    1.4%                     0.3%                       0.3%                      0.3%
Kinmas Investment Ltd
                     Kinmas Investment Ltd
                                          Lako Imila (PNGFAL - 682/10)-20302                  2                   18,006.570             4,040,627.98                       9                 66,004.344              15,624,501.49
                     Total for Exporter: Kinmas Investment Ltd                              2                   18,006.570              4,040,627.98                      9                  66,004.344             15,624,501.49
                     Per Cent of Grand Total                                             5.1%                        8.5%                      4.8%                    1.2%                       2.3%                      1.7%
Total for Kinmas Investment Ltd                                                            2                   18,006.570             4,040,627.98                       9                 66,004.344             15,624,501.49
Per Cent of Grand Total                                                                5.1%                         8.5%                     4.8%                     1.2%                      2.3%                      1.7%
KK Connections Ltd
                     Chain Reaction Ltd
                                          Inland Pomio TRP (TP 11549)                                                                                                       1                     118.656                   27,594.42


 12- 6                                                                                                                                                        Report Number 12:       Page 6 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

                     Total for Exporter: Chain Reaction Ltd                                                                                                               1                      118.656                  27,594.42
                     Per Cent of Grand Total                                                                                                                           0.1%                        0.0%                       0.0%
                     KK Connections Ltd
                                          Seraji EXN TRP PROJ. (TP 11558)                     1                    3,558.007               810,166.03                      27                104,701.170              26,045,642.16
                                          Taraiwara(Ext) Agro Reforest.(FCA 71514)            1                    6,246.919             1,423,154.75                      31                120,605.892              29,467,704.58
                     Total for Exporter: KK Connections Ltd                                 2                     9,804.926             2,233,320.79                     58                225,307.062              55,513,346.74
                     Per Cent of Grand Total                                             5.1%                         4.7%                     2.6%                    8.0%                      7.8%                       6.1%
                     KL Connections Ltd
                                          Dengnenge 'B' Agro Forestry (FCA 71516)             1                    8,164.366             1,886,661.01                      17                 51,745.558              13,079,025.74
                                          Makolkol Intergrated Agri. (FCA 71509)              1                    3,733.469             1,076,251.85                      24                 54,485.792              15,168,642.43
                     Total for Exporter: KL Connections Ltd                                 2                   11,897.835              2,962,912.85                     41                106,231.350              28,247,668.17
                     Per Cent of Grand Total                                             5.1%                        5.6%                      3.5%                    5.6%                      3.7%                       3.1%
                     Laloani No.8 Ltd
                                          Dengnenge "A"Int, Agri Proj (FCA 71510)                                                                                           4                  2,963.476                 790,304.19
                                          Dengnenge "A"Intergrated Agri (FCA71515)            1                    2,636.854                611,099.91                     31                 72,532.633              18,149,303.24
                     Total for Exporter: Laloani No.8 Ltd                                   1                     2,636.854               611,099.91                     35                  75,496.109             18,939,607.43
                     Per Cent of Grand Total                                             2.6%                         1.3%                     0.7%                    4.8%                       2.6%                      2.1%
                     Super Green Ltd
                                          Ormand Lako TRP Project (TP 10330)                                                                                               14                 49,296.618              11,015,933.66
                     Total for Exporter: Super Green Ltd                                                                                                                 14                  49,296.618             11,015,933.66
                     Per Cent of Grand Total                                                                                                                           1.9%                       1.7%                      1.2%
Total for KK Connections Ltd                                                               5                   24,339.615             5,807,333.56                    149                456,449.795 ##############
Per Cent of Grand Total                                                               12.8%                        11.5%                     6.9%                   20.4%                     15.8%          12.5%
Low Impact Logging Ltd
                     Low Impact Logging Ltd
                                          Buhem Mongi Busiga (11338)                                                                                                        6                 22,403.817                6,550,909.71
                     Total for Exporter: Low Impact Logging Ltd                                                                                                           6                  22,403.817               6,550,909.71
                     Per Cent of Grand Total                                                                                                                           0.8%                       0.8%                       0.7%
Total for Low Impact Logging Ltd                                                                                                                                         6                 22,403.817               6,550,909.71
Per Cent of Grand Total                                                                                                                                               0.8%                      0.8%                       0.7%

 12- 7                                                                                                                                                        Report Number 12:       Page 7 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

Lucky 99 (PNG) Ltd
                     Lucky 99 (PNG) Ltd
                                          Apong Agric - (FCA 71301)                                                                                                         3                   7,438.779               1,620,873.29
                     Total for Exporter: Lucky 99 (PNG) Ltd                                                                                                               3                   7,438.779               1,620,873.29
                     Per Cent of Grand Total                                                                                                                           0.4%                       0.3%                       0.2%
                     Lucky Logging Limited
                                          Semon (FCA 71302)                                                                                                                 4                 21,302.162                4,642,827.70
                     Total for Exporter: Lucky Logging Limited                                                                                                            4                  21,302.162               4,642,827.70
                     Per Cent of Grand Total                                                                                                                           0.5%                       0.7%                       0.5%
Total for Lucky 99 (PNG) Ltd                                                                                                                                             7                 28,740.941               6,263,700.99
Per Cent of Grand Total                                                                                                                                               1.0%                      1.0%                       0.7%
Mekar (PNG) Limited
                     Mekar (PNG) Limited
                                          Aliai-Sisimi-Hargy Consolidated TP 11438            1                    5,385.035             1,414,844.22                       6                 26,750.427                6,918,254.35
                     Total for Exporter: Mekar (PNG) Limited                                1                     5,385.035             1,414,844.22                      6                  26,750.427               6,918,254.35
                     Per Cent of Grand Total                                             2.6%                         2.6%                     1.7%                    0.8%                       0.9%                       0.8%
Total for Mekar (PNG) Limited                                                              1                     5,385.035            1,414,844.22                       6                 26,750.427               6,918,254.35
Per Cent of Grand Total                                                                2.6%                          2.6%                    1.7%                     0.8%                      0.9%                       0.8%
Millennium Corporation Ltd
                     Millennium Corporation Ltd
                                          Nakmai LFA (TP 11601)                                                                                                             4                 21,733.976                5,094,702.59
                                          Tewelas: Konos-Pue TRP (TP11632)                                                                                                  3                 18,281.021                4,490,665.75
                                          Ugana LFA (TP16-2)                                                                                                                4                 22,304.446                5,076,769.54
                     Total for Exporter: Millennium Corporation Ltd                                                                                                      11                  62,319.443             14,662,137.89
                     Per Cent of Grand Total                                                                                                                           1.5%                       2.2%                      1.6%
Total for Millennium Corporation Ltd                                                                                                                                     11                62,319.443             14,662,137.89
Per Cent of Grand Total                                                                                                                                               1.5%                      2.2%                      1.6%




 12- 8                                                                                                                                                        Report Number 12:       Page 8 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

Musa Century Limited
                     Musa Century Limited
                                          Lower Musa Agro, (FCA 70505)                                                                                                      1                   5,299.194               1,603,239.70
                     Total for Exporter: Musa Century Limited                                                                                                             1                   5,299.194               1,603,239.70
                     Per Cent of Grand Total                                                                                                                           0.1%                       0.2%                       0.2%
Total for Musa Century Limited                                                                                                                                           1                   5,299.194              1,603,239.70
Per Cent of Grand Total                                                                                                                                               0.1%                       0.2%                      0.2%
Northern Forest Products Ltd
                     Northern Forest Products Ltd
                                          Wanigela Tree Plantation (FCA 70506)                                                                                              1                   5,421.833               1,304,431.67
                     Total for Exporter: Northern Forest Products Ltd                                                                                                     1                   5,421.833               1,304,431.67
                     Per Cent of Grand Total                                                                                                                           0.1%                       0.2%                       0.1%
Total for Northern Forest Products Ltd                                                                                                                                   1                   5,421.833              1,304,431.67
Per Cent of Grand Total                                                                                                                                               0.1%                       0.2%                      0.1%
Open Bay Timber Ltd
                     Open Bay Timber Ltd
                                          Open Bay Consolidated [Pltn] (11501)                4                    6,007.338             1,931,102.63                      14                 30,656.621                8,664,396.28
                     Total for Exporter: Open Bay Timber Ltd                               4                      6,007.338             1,931,102.63                     14                  30,656.621               8,664,396.28
                     Per Cent of Grand Total                                           10.3%                          2.8%                     2.3%                    1.9%                       1.1%                       1.0%
Total for Open Bay Timber Ltd                                                              4                     6,007.338            1,931,102.63                       14                30,656.621               8,664,396.28
Per Cent of Grand Total                                                               10.3%                          2.8%                    2.3%                     1.9%                      1.1%                       1.0%
Oro Wood Industry Ltd
                     Oro Wood Industry Ltd
                                          Ifane Agro-Forest Project - (FCA 70503)                                                                                           7                 32,991.791                7,511,611.06
                     Total for Exporter: Oro Wood Industry Ltd                                                                                                            7                  32,991.791               7,511,611.06
                     Per Cent of Grand Total                                                                                                                           1.0%                       1.1%                       0.8%
Total for Oro Wood Industry Ltd                                                                                                                                          7                 32,991.791               7,511,611.06
Per Cent of Grand Total                                                                                                                                               1.0%                      1.1%                       0.8%


 12- 9                                                                                                                                                        Report Number 12:       Page 9 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

PJ Plantation Limited
                     PJ Plantation Limited
                                          Idam-Saiwi Inter Agri Proj (FCA 10-09)              2                    7,791.166             5,505,199.79                       4                 14,610.835              11,255,342.29
                     Total for Exporter: PJ Plantation Limited                              2                     7,791.166             5,505,199.79                      4                  14,610.835             11,255,342.29
                     Per Cent of Grand Total                                             5.1%                         3.7%                     6.5%                    0.5%                       0.5%                      1.2%
Total for PJ Plantation Limited                                                            2                     7,791.166            5,505,199.79                       4                 14,610.835             11,255,342.29
Per Cent of Grand Total                                                                5.1%                          3.7%                    6.5%                     0.5%                      0.5%                      1.2%
Reko (PNG) Ltd
                     Reko (PNG) Ltd
                                          East Kikori (Urama Gopera) (10215)                                                                                                1                   3,410.730                 509,909.80
                     Total for Exporter: Reko (PNG) Ltd                                                                                                                   1                   3,410.730                 509,909.80
                     Per Cent of Grand Total                                                                                                                           0.1%                       0.1%                       0.1%
Total for Reko (PNG) Ltd                                                                                                                                                 1                   3,410.730                 509,909.80
Per Cent of Grand Total                                                                                                                                               0.1%                       0.1%                       0.1%
Rimbunan Hijau (PNG) Ltd
                     Island Forest Resources Ltd
                                          Anu Alimbit LFA (21405)                                                                                                           6                 15,090.276                4,254,471.70
                     Total for Exporter: Island Forest Resources Ltd                                                                                                      6                  15,090.276               4,254,471.70
                     Per Cent of Grand Total                                                                                                                           0.8%                       0.5%                       0.5%
                     Niugini International Corporation Ltd
                                          Turama (10212)                                                                                                                   10                 33,474.219                9,203,684.59
                                          Vailala Block 1 (10214)                                                                                                           8                 19,573.090                4,790,208.06
                     Total for Exporter: Niugini International Corporation Ltd                                                                                           18                  53,047.309             13,993,892.65
                     Per Cent of Grand Total                                                                                                                           2.5%                       1.8%                      1.5%
                     Niugini Lumber Merchants Ltd
                                          Andru Johana (LFA 21410)                                                                                                         13                 39,534.721              12,342,317.13
                                          Awio Amgen (21409)                                                                                                                8                 26,432.934               7,151,073.33
                     Total for Exporter: Niugini Lumber Merchants Ltd                                                                                                    21                  65,967.655             19,493,390.46
                     Per Cent of Grand Total                                                                                                                           2.9%                       2.3%                      2.1%


 12- 10                                                                                                                                                       Report Number 12:      Page 10 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

                     Saban Enterprises Ltd
                                          Huhu Forest Plantation (TA 34088)                                                                                                 4                 20,262.270                6,548,593.06
                                          Sagarai Gadaisu (TP 10403)                                                                                                        3                  7,163.450                1,610,288.11
                     Total for Exporter: Saban Enterprises Ltd                                                                                                            7                  27,425.720               8,158,881.18
                     Per Cent of Grand Total                                                                                                                           1.0%                       0.9%                       0.9%
                     Sinaran Papua Ltd
                                          Turama Extension - Faia (10212a)                                                                                                  3                   4,837.448               1,302,617.53
                     Total for Exporter: Sinaran Papua Ltd                                                                                                                3                   4,837.448               1,302,617.53
                     Per Cent of Grand Total                                                                                                                           0.4%                       0.2%                       0.1%
                     Wawoi Guavi Timber Co Ltd
                                          Wawoi Guavi (10107)                                 2                    5,800.281             1,226,727.13                      12                 45,532.785              11,285,836.33
                     Total for Exporter: Wawoi Guavi Timber Co Ltd                          2                     5,800.281             1,226,727.13                     12                  45,532.785             11,285,836.33
                     Per Cent of Grand Total                                             5.1%                         2.8%                     1.5%                    1.6%                       1.6%                      1.2%
Total for Rimbunan Hijau (PNG) Ltd                                                         2                     5,800.281            1,226,727.13                       67              211,901.193              58,489,089.85
Per Cent of Grand Total                                                                5.1%                          2.8%                    1.5%                     9.2%                     7.3%                       6.4%
Samas Ltd
                     Samas Ltd
                                          Aitape Lumi Consolidated FMA (61003)                                                                                             15                124,650.612              34,322,272.43
                     Total for Exporter: Samas Ltd                                                                                                                       15                124,650.612              34,322,272.43
                     Per Cent of Grand Total                                                                                                                           2.1%                      4.3%                       3.8%
Total for Samas Ltd                                                                                                                                                      15              124,650.612              34,322,272.43
Per Cent of Grand Total                                                                                                                                               2.1%                     4.3%                       3.8%
Summit Agriculture Ltd
                     Summit Agriculture Ltd
                                          Gwenif Wagasu Agro-Forestry (FCA 71010)                                                                                          10                 22,540.058                6,672,553.34
                                          Lower Sepik (LFA 21101)                                                                                                           8                 20,867.438                4,733,131.32
                                          Wewak/Turubu (FCA 71103)                                                                                                         14                 26,877.190                6,114,947.71
                     Total for Exporter: Summit Agriculture Ltd                                                                                                          32                  70,284.686             17,520,632.38
                     Per Cent of Grand Total                                                                                                                           4.4%                       2.4%                      1.9%


 12- 11                                                                                                                                                       Report Number 12:      Page 11 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

Total for Summit Agriculture Ltd                                                                                                                                         32                70,284.686             17,520,632.38
Per Cent of Grand Total                                                                                                                                               4.4%                      2.4%                      1.9%
Sunland Limited
                     Sunland Limited
                                          Idam-saiwi Inter Agri Proj (FCA 10-09)                                                                                            2                   9,272.557               6,634,538.23
                     Total for Exporter: Sunland Limited                                                                                                                  2                   9,272.557               6,634,538.23
                     Per Cent of Grand Total                                                                                                                           0.3%                       0.3%                       0.7%
Total for Sunland Limited                                                                                                                                                2                   9,272.557              6,634,538.23
Per Cent of Grand Total                                                                                                                                               0.3%                       0.3%                      0.7%
Tangoy Vivafounder Holdings Limited
                     Tangoy Vivafounder Holdings Limited
                                          Idam-Saiwi Inter Agri Proj (FCA 71009)                                                                                            1                   3,225.470               2,795,407.33
                     Total for Exporter: Tangoy Vivafounder Holdings Limited                                                                                              1                   3,225.470               2,795,407.33
                     Per Cent of Grand Total                                                                                                                           0.1%                       0.1%                       0.3%
Total for Tangoy Vivafounder Holdings Limited                                                                                                                            1                   3,225.470              2,795,407.33
Per Cent of Grand Total                                                                                                                                               0.1%                       0.1%                      0.3%
Tutuman Development Ltd
                     Maxland (PNG) Ltd
                                          Pohowa Agro_Forestry (FCA 71801)                    1                    6,523.904             2,634,530.87                       4                 16,436.046                5,735,774.34
                     Total for Exporter: Maxland (PNG) Ltd                                  1                     6,523.904             2,634,530.87                      4                  16,436.046               5,735,774.34
                     Per Cent of Grand Total                                             2.6%                         3.1%                     3.1%                    0.5%                       0.6%                       0.6%
                     Millionplus Corporation Ltd
                                          Konoagil Inter.Agri.Proj. (FCA 71603)               1                    7,000.799             2,042,050.34                      20                138,647.403              47,947,230.37
                     Total for Exporter: Millionplus Corporation Ltd                        1                     7,000.799             2,042,050.34                     20                138,647.403              47,947,230.37
                     Per Cent of Grand Total                                             2.6%                         3.3%                     2.4%                    2.7%                      4.8%                       5.3%
Total for Tutuman Development Ltd                                                          2                   13,524.703             4,676,581.21                       24              155,083.449              53,683,004.71
Per Cent of Grand Total                                                                5.1%                         6.4%                     5.5%                     3.3%                     5.4%                       5.9%



 12- 12                                                                                                                                                       Report Number 12:      Page 12 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

Uni Rise Ltd
                     Lawrence Wood Ltd
                                          Lolo Blk 2 Ext. (21412)                                                                                                           1                  2,263.488                  381,701.18
                                          Lolo Block 1 (21402)                                                                                                              2                  7,949.429                2,108,754.03
                                          Lolo Block 2 (21403)                                                                                                              1                 13,530.846                3,990,587.94
                     Total for Exporter: Lawrence Wood Ltd                                                                                                                4                  23,743.763               6,481,043.15
                     Per Cent of Grand Total                                                                                                                           0.5%                       0.8%                       0.7%
Total for Uni Rise Ltd                                                                                                                                                   4                 23,743.763               6,481,043.15
Per Cent of Grand Total                                                                                                                                               0.5%                      0.8%                       0.7%
Vanimo Jaya Ltd
                     Border International Timber Co. Ltd
                                          Bewani LFA (21001)                                                                                                                2                   5,650.062               1,782,151.72
                                          Numbung Agriculture (TA 31095)                                                                                                    2                   4,484.891               1,908,583.72
                     Total for Exporter: Border International Timber Co. Ltd                                                                                              4                  10,134.953               3,690,735.44
                     Per Cent of Grand Total                                                                                                                           0.5%                       0.4%                       0.4%
                     Sentawan (PNG) Ltd
                                          DANFU Block 12,13,14,15&18 (11640)                                                                                                7                 52,022.732              15,784,774.13
                     Total for Exporter: Sentawan (PNG) Ltd                                                                                                               7                  52,022.732             15,784,774.13
                     Per Cent of Grand Total                                                                                                                           1.0%                       1.8%                      1.7%
                     Vanimo Jaya Ltd
                                          Makapa Timber Area (10109)                          1                   10,524.819             2,687,007.23                      15                 92,373.384              23,431,029.10
                     Total for Exporter: Vanimo Jaya Ltd                                    1                   10,524.819              2,687,007.23                     15                  92,373.384             23,431,029.10
                     Per Cent of Grand Total                                             2.6%                        5.0%                      3.2%                    2.1%                       3.2%                      2.6%
                     VJ Holdings Limited
                                          Ulamona consolidated TRP (TP 11443)                                                                                               3                 10,632.812                2,246,663.55
                     Total for Exporter: VJ Holdings Limited                                                                                                              3                  10,632.812               2,246,663.55
                     Per Cent of Grand Total                                                                                                                           0.4%                       0.4%                       0.2%
Total for Vanimo Jaya Ltd                                                                  1                   10,524.819             2,687,007.23                       29              165,163.881              45,153,202.23
Per Cent of Grand Total                                                                2.6%                         5.0%                     3.2%                     4.0%                     5.7%                       5.0%


 12- 13                                                                                                                                                       Report Number 12:      Page 13 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

Viva Success Ltd
                     Viva Success Ltd
                                          Central New Ireland (11642)                                                                                                      16                 95,612.310              26,661,257.51
                     Total for Exporter: Viva Success Ltd                                                                                                                16                  95,612.310             26,661,257.51
                     Per Cent of Grand Total                                                                                                                           2.2%                       3.3%                      2.9%
Total for Viva Success Ltd                                                                                                                                               16                95,612.310             26,661,257.51
Per Cent of Grand Total                                                                                                                                               2.2%                      3.3%                      2.9%
Wood Man Timber Ltd
                     Wood Man Timber Ltd
                                          Tikana ( Kaut) Forest Pltn (TA 31669)                                                                                             5                 13,669.782                3,594,781.84
                     Total for Exporter: Wood Man Timber Ltd                                                                                                              5                  13,669.782               3,594,781.84
                     Per Cent of Grand Total                                                                                                                           0.7%                       0.5%                       0.4%
Total for Wood Man Timber Ltd                                                                                                                                            5                 13,669.782               3,594,781.84
Per Cent of Grand Total                                                                                                                                               0.7%                      0.5%                       0.4%
WTK Realty Ltd
                     Amanab Forest Products Ltd
                                          Amanab Blocks 1-4 FMA (61001)                       3                   22,040.336            16,501,420.22                      13                117,274.380              93,596,028.52
                     Total for Exporter: Amanab Forest Products Ltd                         3                   22,040.336            16,501,420.22                      13                117,274.380              93,596,028.52
                     Per Cent of Grand Total                                             7.7%                       10.5%                    19.5%                     1.8%                      4.1%                      10.3%
                     Logohu Limited
                                          Mussau TRP Project (TP 11641)                                                                                                     8                 60,730.801              19,729,564.91
                     Total for Exporter: Logohu Limited                                                                                                                   8                  60,730.801             19,729,564.91
                     Per Cent of Grand Total                                                                                                                           1.1%                       2.1%                      2.2%
                     Pacific Region Development Ltd
                                          Far North Coast TRP (TP 11212)                                                                                                    5                 28,866.296               8,308,597.05
                                          Gar Consolidated TRP (TP 11544)                     1                    6,765.210             1,765,286.58                       9                 46,556.434              12,701,103.45
                                          Senbam Cons. TRP (TP11552)                          1                   10,348.582             3,052,750.10                      10                 86,198.384              25,356,596.09
                                          Waterfall bay Extn CONS.TRP(TP 11555)               1                    9,145.292             2,569,684.56                       6                 40,120.248              12,737,956.48
                     Total for Exporter: Pacific Region Development Ltd                     3                   26,259.084              7,387,721.25                     30                201,741.362              59,104,253.07
                     Per Cent of Grand Total                                             7.7%                       12.5%                      8.7%                    4.1%                      7.0%                       6.5%

 12- 14                                                                                                                                                       Report Number 12:      Page 14 of 15 pages

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Field163:
REPORT - Log Exports by Project Site (Volume and Value) for December - 2020, and Cumulative Year to Date (to 31-December-2020)                Continued
                                                                                      --------------------------- December / 2020 -------------------------       --------------------------- Year to Date -----------------------------
Co. Grouping         Exporter             SiteCode                                    No. Shipments Volume (m3)                             Value, K              No. Shipments Volume (m3)                               Value, K

                     Reach Niugini Construction
                                          Gara Modewa TRP (TP 10406)                                                                                                        3                 28,718.914                7,179,332.20
                     Total for Exporter: Reach Niugini Construction                                                                                                       3                  28,718.914               7,179,332.20
                     Per Cent of Grand Total                                                                                                                           0.4%                       1.0%                       0.8%
Total for WTK Realty Ltd                                                                   6                   48,299.420           23,889,141.47                        54              408,465.457 ##############
Per Cent of Grand Total                                                               15.4%                        22.9%                   28.3%                      7.4%                    14.1%          19.7%

Grand Total:                                                                               39              210,841.107 84,460,428.94                                   729          2,891,134.979 911,586,329.85




 12- 15                                                                                                                                                       Report Number 12:      Page 15 of 15 pages

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Log Exports (Volume and Kina Value) by Province for December/2020 and
Previous Periods
Report printed: 29/01/2021 9:10:58 am


                                          -------------------------- Volume, m3 -------------------------------     ---------------------------- Value (Kina) ----------------------------
Province                                December/20                 Yr to Date                         2019       December/20                  Yr to Date                         2019
Central                                       18,714                    142,490                     236,152          4,670,624                 35,054,405                  64,343,352
East New Britain                              56,606                    646,231                     474,644         15,126,157                170,717,376                 132,238,930
East Sepik                                                              124,934                     200,854                                    33,240,705                  52,384,298
Gulf                                                                     61,295                     169,361                                    15,806,420                  48,587,287
Madang                                                                   37,070                     154,279                                    10,107,200                  56,782,931
Manus                                          6,524                     16,436                      35,109          2,634,531                  5,735,774                  11,715,603
Milne Bay                                                                60,263                     111,959                                    16,323,549                  31,450,455
Morobe                                                                  123,492                     261,318                                    30,228,415                  76,131,195
New Ireland                                   10,474                    430,485                     504,108          3,239,661                130,969,406                 160,362,193
Oro                                                                      43,713                      54,712                                    10,419,282                  13,018,368
West New Britain                              34,584                    596,858                     802,186          9,836,902                165,712,848                 239,794,268
West Sepik                                    57,708                    387,273                     490,314         42,942,842                232,594,710                 280,406,692
Western                                       26,231                    220,594                     298,775          6,009,712                 54,676,240                  78,717,954

Total                                      210,841                  2,891,135                  3,793,770          84,460,429               911,586,330                1,245,933,528
Monthly mean                                210,841                     240,928                     316,148         84,460,429                 75,965,527                 103,827,794




 13- 1                                                                                                                                            Report Number 13:     Page 1 of 1 pages

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Log Export Volumes and Prices by Destination, Grade
and Group, for December/2020
Report printed: 16/02/2021 9:11:20 am



                                                                             Volume          FOB        Per Cent   Ave FOB
Destination                                   Log Grade          Group           m3           US$      by Volume    US$/m3

China
                                              Saw/Veneer
                                                                     1        108,745     14,143,246       61.2%           130
                                                                     2          7,999        521,603        4.5%            65
                                                                     3         12,777        809,088        7.2%            63
                                                                     4         25,520      1,494,294       14.4%            59
        Total/Mean for Saw/Veneer                                             155,040     16,968,231       87.2%           109
        Per Cent of Grand Total                                                 73.5%         68.7%
                                              Low grade
                                                                     1         18,153        980,579       10.2%            54
                                                                     2            744         34,393        0.4%            46
                                                                     3          1,946         89,587        1.1%            46
                                                                     4          1,859         87,081        1.0%            47
        Total/Mean for Low grade                                               22,702      1,191,640       12.8%            52
        Per Cent of Grand Total                                                 10.8%          4.8%

Total/Mean for China                                                         177,742     18,159,871      100.0%            102
Per Cent of Grand Total                                                        84.3%         73.6%

India
                                              Saw/Veneer
                                                                     1         26,384      5,804,576       97.4%           220
        Total/Mean for Saw/Veneer                                              26,384      5,804,576       97.4%           220
        Per Cent of Grand Total                                                 12.5%         23.5%
                                   Plantation diam 20 - 29 cm: tiny small
                                                         1            543                   135,626         2.0%           250
        Total/Mean for Plantation diam 20 - 29 cm: tiny               543                   135,626         2.0%           250
        small
        Per Cent of Grand Total                                                  0.3%          0.5%
                                              Plantation diam 00 - 19 cm: little small
                                                                    1              165       41,234         0.6%           250



Report Number 14:         Page 1 of 2 pages                                                                        14- 1

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Field163:
REPORT - Log Export Volumes and Prices by Destination, Grade and Group, for December/2020   Continued


                                                                  Volume           FOB        Per Cent     Ave FOB
Destination                             Log Grade     Group           m3            US$      by Volume      US$/m3

      Total/Mean for Plantation diam 00 - 19 cm: little                165          41,234          0.6%           250
      small
      Per Cent of Grand Total                                         0.1%            0.2%

Total/Mean for India                                               27,092      5,981,436        100.0%             221
Per Cent of Grand Total                                            12.8%           24.2%

Vietnam
                                 Plantation diam 60+ cm: regular
                                                      2                236          31,712          3.9%           135
      Total/Mean for Plantation diam 60+ cm: regular                   236          31,712          3.9%           135
      Per Cent of Grand Total                                         0.1%            0.1%
                                 Plantation diam 50 - 59 cm: small
                                                       2           706              81,155         11.7%           115
      Total/Mean for Plantation diam 50 - 59 cm: small             706              81,155         11.7%           115
      Per Cent of Grand Total                                         0.3%            0.3%
                                 Plantation diam 40 - 49 cm: super small
                                                       2          2,015           206,540          33.5%           103
      Total/Mean for Plantation diam 40 - 49 cm: super            2,015           206,540          33.5%           103
      small
      Per Cent of Grand Total                                         1.0%            0.8%
                                 Plantation diam 30 - 39 cm: baby small
                                                       2          2,353           190,602          39.2%            81
      Total/Mean for Plantation diam 30 - 39 cm: baby             2,353           190,602          39.2%            81
      small
      Per Cent of Grand Total                                         1.1%            0.8%
                                 Plantation diam 20 - 29 cm: tiny small
                                                       2            698             30,701         11.6%            44
      Total/Mean for Plantation diam 20 - 29 cm: tiny               698             30,701         11.6%            44
      small
      Per Cent of Grand Total                                         0.3%            0.1%

Total/Mean for Vietnam                                              6,007        540,709        100.0%              90
Per Cent of Grand Total                                              2.8%            2.2%

             Grand Total:                                         210,841     24,682,016                           117




Report Number 14:   Page 2 of 2 pages                                                                      14- 2

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Log Export Volumes and Prices by Destination and
Grade for Group 1 Species, for December/2020
Report printed: 29/01/2021 9:11:49 am



                                                                      Volume       FOB        Per Cent    Ave FOB
Destination                 Log Grade         Species                     m3        US$      by Volume     US$/m3

China
                           Saw/Veneer
                                          Dillenia                      2,798      234,802        2.2%            84
                                          Calophyllum                  12,096    1,262,359        9.5%           104
                                          Erima                         1,665      130,734        1.3%            78
                                          Grey Canarium                   730       55,902        0.6%            77
                                          Hekakoro                         45        3,682        0.0%            81
                                          Kwila                        31,624    6,908,914       24.9%           218
                                          Lophopetallum/Perupok           385       28,076        0.3%            73
                                          Malas                         6,631      556,461        5.2%            84
                                          Pencil Cedar                  3,599      344,405        2.8%            96
                                          Red Canarium                  3,622      279,235        2.9%            77
                                          Red Planchonella                127        9,785        0.1%            77
                                          Taun                         33,038    3,390,783       26.0%           103
                                          Terminalia                    7,708      578,844        6.1%            75
                                          White Planchonella              685       52,971        0.5%            77
                                          Burckella                     1,649      128,467        1.3%            78
                                          PNG Walnut                    2,341      177,828        1.8%            76
                           Total/Mean for Saw/Veneer                  108,745   14,143,246       85.7%           130
                           Per Cent of Grand Total                     70.6%        67.0%
                           Low grade
                                              Dillenia                  1,857      78,760         1.5%            42
                                              Malas                     1,118      55,699         0.9%            50
                                              Lophopetallum/Perupok        81       3,392         0.1%            42
                                              Kwila                       862     155,244         0.7%           180
                                              Pencil Cedar                774      37,022         0.6%            48
                                              Erima                       184       9,148         0.1%            50
                                              Taun                     10,168     497,132         8.0%            49
                                              Calophyllum               1,102      49,744         0.9%            45
                                              Grey Canarium               193       9,082         0.2%            47
                                              PNG Mersawa                 311      15,534         0.2%            50
                                              PNG Walnut                  345      17,036         0.3%            49
                                              Red Planchonella             56       2,733         0.0%            49

Report Number 15:         Page 1 of 2 pages                                                              15- 1

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Field163:
REPORT - Log Export Volumes and Prices by Destination and Grade for Group 1 Species, for December/2020      Continued


                                                                   Volume           FOB        Per Cent        Ave FOB
Destination          Log Grade          Species                        m3            US$      by Volume         US$/m3

                                    Terminalia                         403          18,429          0.3%                 46
                                    White Planchonella                  45           1,888          0.0%                 42
                                    Burckella                          173           7,625          0.1%                 44
                                    Red Canarium                       481          22,112          0.4%                 46
                     Total/Mean for Low grade                       18,153         980,579         14.3%                 54
                     Per Cent of Grand Total                         11.8%             4.6%

Total/Mean for China                                               126,898     15,123,826        100.0%                 119
Per Cent of Grand Total                                             82.4%           71.7%

India
                     Saw/Veneer
                                    Kwila                           26,384       5,804,576         97.4%                220
                     Total/Mean for Saw/Veneer                      26,384       5,804,576         97.4%                220
                     Per Cent of Grand Total                         17.1%           27.5%
                     Plantation diam 20 - 29 cm: tiny small
                                     Teak (b) tiny small (plntn)       543         135,626           2.0%               250
                     Total/Mean for Plantation diam 20 -               543         135,626           2.0%               250
                     29 cm: tiny small
                     Per Cent of Grand Total                           0.4%            0.6%
                     Plantation diam 00 - 19 cm: little small
                                      Teak (a) little small            165          41,234           0.6%               250
                                      (plntn)
                     Total/Mean for Plantation diam 00 -               165          41,234           0.6%               250
                     19 cm: little small
                     Per Cent of Grand Total                           0.1%            0.2%

Total/Mean for India                                                27,092      5,981,436        100.0%                 221
Per Cent of Grand Total                                             17.6%           28.3%

             Grand Total:                                          153,990     21,105,262                               137




Report Number 15:   Page 2 of 2 pages                                                                        15- 2

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 Field2:
   Monthly Discrepancy Report for Shipments Exported
                 during December / 2020
Date printed: 29/01/2021 9:12:54 am



The following is a list of discrepancies found as a result of detection of 'undeclared' logs in the export stacks
and also logs with mis-identified species, for each shipment of logs exported during the month. Each
discrepancy is evaluated for its economic impact in terms of revenue which would have been effectively lost to
Papua New Guinea had the discrepancy not been detected.

A) Discrepancies by Shipment
 SGS Reference Number :                    25417                            PNGFA Permit Number :          20201095
 Ship Name :                               Universe Reliance                Shipped Volume :               8622.287
 Exporting Company :                       Amanab 56 Timber Investments Ltd Export Date :                  01/12/2020
 Project :                                 Amanab Blocks 5 & 6 FMA 110-4 (6 Inspection Report Date :       05/01/2021

Discrepancy Type                                        ---- Discrepant---- Avg Price ----------- Value to PNG (K) ------------
                                                        Volume Pieces (USD FOB) Duty              Levy      Forex    Co. Tax
Undeclared Logs noted at preshipment                           39       8    220.00   15,995        314    29,500       8,850
Shipment Total                                                 39       8    220.00   15,995        314    29,500       8,850


 SGS Reference Number :                    25418                            PNGFA Permit Number :          20201094
 Ship Name :                               Universe Reliance                Shipped Volume :               7389.592
 Exporting Company :                       Amanab 56 Timber Investments Ltd Export Date :                  01/12/2020
 Project :                                 Amanab Blocks 5 & 6 FMA 110-4 (6 Inspection Report Date :       05/01/2021

Discrepancy Type                                        ---- Discrepant---- Avg Price ----------- Value to PNG (K) ------------
                                                        Volume Pieces (USD FOB) Duty              Levy      Forex    Co. Tax
Undeclared Logs noted at Loading                               41       4    220.00   16,914        332    31,196       9,359
Shipment Total                                                 41       4    220.00   16,914        332    31,196       9,359


 SGS Reference Number :                    25449                              PNGFA Permit Number :        2011013
 Ship Name :                               Equator                            Shipped Volume :             7331.542
 Exporting Company :                       Amanab Forest Products Ltd         Export Date :                03/12/2020
 Project :                                 Amanab Blocks 1-4 FMA (61001)      Inspection Report Date :     09/12/2020

Discrepancy Type                                        ---- Discrepant---- Avg Price ----------- Value to PNG (K) ------------
                                                        Volume Pieces (USD FOB) Duty              Levy      Forex    Co. Tax
Undeclared Logs noted at preshipment                           32       7    220.00   13,100        257    24,162       7,249
Shipment Total                                                 32       7    220.00   13,100        257    24,162       7,249




Report Number 16:      Page 1 of 3 pages                                                                             16- 1

Page 81 screenshot
 SGS Reference Number :                 25450                               PNGFA Permit Number :        2011014
 Ship Name :                            Equator                             Shipped Volume :             7188.691
 Exporting Company :                    Amanab Forest Products Ltd          Export Date :                03/12/2020
 Project :                              Amanab Blocks 1-4 FMA (61001)       Inspection Report Date :     10/12/2020

Discrepancy Type                                     ---- Discrepant---- Avg Price    ----------- Value to PNG (K) ------------
                                                     Volume Pieces (USD FOB)          Duty        Levy      Forex    Co. Tax
Undeclared Logs noted at preshipment                        16       3    220.00      6,517         128    12,021       3,606
Shipment Total                                              16       3    220.00      6,517         128    12,021       3,606


 SGS Reference Number :                 25452                               PNGFA Permit Number :        2011033
 Ship Name :                            Yamtai                              Shipped Volume :             6580.681
 Exporting Company :                    Canopus No. 16 Ltd                  Export Date :                03/12/2020
 Project :                              Wipim Tapila FMA (60110)            Inspection Report Date :     05/01/2021

Discrepancy Type                                     ---- Discrepant---- Avg Price    ----------- Value to PNG (K) ------------
                                                     Volume Pieces (USD FOB)          Duty        Levy      Forex    Co. Tax
Undeclared Logs noted at Loading                             4        2    54.89         241         33       764         229
Shipment Total                                               4       2     54.89         241         33       764         229


 SGS Reference Number :                 25462                               PNGFA Permit Number :        2011040
 Ship Name :                            Peace Glory                         Shipped Volume :             6367.149
 Exporting Company :                    Stettin Bay Lumber Co. Ltd          Export Date :                05/12/2020
 Project :                              Ania Kapiura Consolidated (11452)   Inspection Report Date :     10/12/2021

Discrepancy Type                                     ---- Discrepant---- Avg Price    ----------- Value to PNG (K) ------------
                                                     Volume Pieces (USD FOB)          Duty        Levy      Forex    Co. Tax
Misdeclaration of Species / Specie                           2        1    92.00
Misidentified
Shipment Total                                               2       1      92.00


 SGS Reference Number :                 25490                               PNGFA Permit Number :        2011069
 Ship Name :                            Carpenter Sirius                    Shipped Volume :             188.77
 Exporting Company :                    East Papua Timber Resources Ltd     Export Date :                19/12/2020
 Project :                              Brown River/Kuriva (10337)          Inspection Report Date :     09/02/2021

Discrepancy Type                                     ---- Discrepant---- Avg Price    ----------- Value to PNG (K) ------------
                                                     Volume Pieces (USD FOB)          Duty        Levy      Forex    Co. Tax
Undeclared Logs noted at Loading                             1        5   250.00         408          7       740         222
Shipment Total                                               1       5    250.00         408          7       740         222


 SGS Reference Number :                 25505                            PNGFA Permit Number :           2012014
 Ship Name :                            Bao Yu                           Shipped Volume :                3473.215
 Exporting Company :                    Joinland Management (PNG) Limite Export Date :                   29/12/2020
 Project :                              Lak TRP Project (TP 11643)       Inspection Report Date :        18/01/2021

Discrepancy Type                                     ---- Discrepant---- Avg Price    ----------- Value to PNG (K) ------------
                                                     Volume Pieces (USD FOB)          Duty        Levy      Forex    Co. Tax
Undeclared Logs noted at preshipment                        27       5     90.71      3,708         220      8,526      2,558


Report Number 16:   Page 2 of 3 pages                                                                               16- 2

Page 82 screenshot
Shipment Total                                             27            5      90.71     3,708          220        8,526        2,558


 SGS Reference Number :                 25509                                  PNGFA Permit Number :            2012013
 Ship Name :                            Refined                                Shipped Volume :                 9145.292
 Exporting Company :                    Pacific Region Development Ltd         Export Date :                    30/12/2020
 Project :                              Waterfall bay Extn CONS.TRP(TP         Inspection Report Date :         08/02/2021

Discrepancy Type                                     ---- Discrepant---- Avg Price        ----------- Value to PNG (K) ------------
                                                     Volume Pieces (USD FOB)              Duty        Levy      Forex    Co. Tax
Undeclared Logs noted at Loading                             6        2    81.50             710         49      1,713        514
Shipment Total                                               6       2     81.50             710         49      1,713        514


 SGS Reference Number :                 25522                             PNGFA Permit Number :                 2012042
 Ship Name :                            Yong Feng                         Shipped Volume :                      7008.831
 Exporting Company :                    Kinmas Investment Ltd             Export Date :                         28/12/2020
 Project :                              Lako Imila (PNGFAL - 682/10)-2030 Inspection Report Date :              06/01/2021

Discrepancy Type                                     ---- Discrepant---- Avg Price -----------         Value to PNG (K) ------------
                                                     Volume Pieces (USD FOB) Duty                      Levy      Forex    Co. Tax
Undeclared Logs noted at preshipment                       139      56     73.90   13,843               1,115   35,201     10,560
Shipment Total                                             139      56     73.90   13,843              1,115    35,201     10,560


Total Number of Discrepancies =                                     36
Total Number of Shipments with Discrepancies =                      10



B) Summary by Discrepancy Type

Discrepancy Type                                        -- Discrepant --      Avg Price     -------- Value to PNG (K'000) --------
                                                        Volume Pieces (USD) FOB             Duty         Levy       Forex      Co. Tax
Misdeclaration of Species / Specie                              2        1      92.00
Misidentified
Undeclared Logs noted at Loading                            53           13    191.46           18                      34           10
Undeclared Logs noted at preshipment                       254           79    125.92           53             2       109           33

Month Total                                                 308          93    136.92             71            2      144           43




Report Number 16:   Page 3 of 3 pages                                                                                        16- 3

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                                      Shipment Duty Calculation Comparison Summary for December / 2020
Date printed: 29/01/2021 9:13:23 am

Co. Grouping /                        SGS Ref PNGFA         Date    Volume Exported (m3)          FOB Value (Kina)                 FOB Value (USD)                     Levy (Kina)            Duty Payable (K)                     Difference
                                                                                                                                                                                                                 Duty
Exporter
                                      Number    Permit     Exported Invoice SGS Diff.        Invoice    SGS     Difference     Invoice  SGS     Difference     SGS         Paid    Diff.       Invoice    SGS Paid (K)             SGS-Paid


 Co. Grouping:            Amanab 56 Timber Investments Ltd
Amanab 56 Timber Investments          25278 200900       01/12/2020 7,531     7,531          5,644,729 5,644,729         1,656,728       1,656,728            60,245       60,245             2,961,840 2,901,596 2,961,840         (60,244)
Ltd
                                      25279 200900       01/12/2020 4,334     4,334          3,248,370 3,248,370             953,397      953,397             34,669       34,669             1,669,780 1,669,780 1,669,780
                                      25417 202010       01/12/2020 8,622     8,622          6,485,139 6,485,139         1,896,903       1,896,903            68,978       68,978             3,333,597 3,333,597 3,333,597
                                      25418 202010       01/12/2020 7,390     7,390          5,557,984 5,557,984         1,625,710       1,625,710            59,117       59,117             2,857,006 2,857,006 2,857,006

                                Totals for 4 Shipments              27,876   27,876        20,936,222   20,936,222           6,132,738    6,132,738          223,009      223,009             10,822,223 10,761,979 10,822,223        (60,244)


Totals for Amanab 56 Timber Investments Ltd, 4 Shipments            27,876   27,876        20,936,222   20,936,222           6,132,738    6,132,738          223,009       223,009            10,822,223 10,761,979 10,822,223        (60,244)


 Co. Grouping:            Aset Meriah (PNG) Ltd
Aset Meriah (PNG) Ltd                 25489 201200       16/12/2020 15,158   15,158          4,446,932 4,446,932         1,300,728       1,300,728           121,262      121,262             1,999,761 1,999,761 1,999,761

                                Totals for 1 Shipments              15,158   15,158         4,446,932    4,446,932           1,300,728    1,300,728          121,262      121,262              1,999,761   1,999,761   1,999,761


Totals for Aset Meriah (PNG) Ltd, 1 Shipments                       15,158   15,158         4,446,932    4,446,932           1,300,728    1,300,728          121,262       121,262             1,999,761   1,999,761   1,999,761


 Co. Grouping:            Cakara Alam (PNG) Ltd
Cakara Alam (PNG) Ltd                 25448 201102       09/12/2020 5,456     5,456          1,568,410 1,568,410             458,760      458,760             43,651         6,572   37,079    673,342     672,410     673,342          (932)
                                      25469 201105       09/12/2020 1,095     1,095            168,495     168,495            49,285       49,285              8,762         8,762              42,124      42,124      42,124

                                Totals for 2 Shipments               6,552    6,552         1,736,905    1,736,905            508,045       508,045           52,412       15,334    37,079      715,465    714,534     715,465          (932)


Totals for Cakara Alam (PNG) Ltd, 2 Shipments                        6,552    6,552         1,736,905    1,736,905            508,045       508,045           52,412        15,334   37,079      715,465    714,534     715,465          (932)



 17- 1                                                                                                                                                                                 Report Number 17:       Page 1 of 5 pages

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Report: Shipment Duty Calculation Comparison Summary for December / 2020                           Continued

Co. Grouping /                        SGS Ref PNGFA         Date       Volume Exported (m3)         FOB Value (Kina)               FOB Value (USD)              Levy (Kina)        Duty Payable (K)                       Difference
                                                                                                                                                                                                          Duty
Exporter
                                      Number    Permit    Exported Invoice      SGS Diff.      Invoice    SGS     Difference    Invoice SGS    Difference    SGS      Paid Diff.    Invoice        SGS Paid (K)           SGS-Paid


 Co. Grouping:            Canopus No. 16 Ltd
Canopus No. 16 Ltd                    25452 201103        03/12/2020 6,581      6,581         1,349,437 1,349,437              394,710    394,710           52,645   52,645         422,552       422,551     422,552             (1)
                                      25492 201200        21/12/2020 3,326      3,326           746,540     746,540            218,363    218,363           26,604   26,604         268,621       268,621     268,621

                                Totals for 2 Shipments                  9,906    9,906        2,095,978   2,095,978             613,073    613,073          79,250   79,249           691,173      691,172     691,173            (1)


Totals for Canopus No. 16 Ltd, 2 Shipments                              9,906    9,906        2,095,978   2,095,978             613,073    613,073          79,250   79,249           691,173      691,172     691,173            (1)


 Co. Grouping:            CS Boss International Ltd
Stettin Bay Lumber Co. Ltd            25462 201104        05/12/2020 6,367      6,367         2,046,286 2,046,286              598,539    598,539           50,937   50,937         957,480       957,480     957,480
                                      25481 201106        05/12/2020 1,123      1,123           191,935     191,935             56,141     56,141            8,983    8,983           47,987       47,984      47,987             (3)

                                Totals for 2 Shipments                  7,490    7,490        2,238,220   2,238,220             654,679    654,679          59,920   59,920         1,005,467     1,005,463   1,005,467           (3)


Totals for CS Boss International Ltd, 2 Shipments                       7,490    7,490        2,238,220   2,238,220             654,679    654,679          59,920   59,920         1,005,467     1,005,463   1,005,467           (3)


 Co. Grouping:            East Papua Timber Resources Ltd
East Papua Timber Resources           25367 202010        19/12/2020     519      519           461,451     461,451            129,668    129,668                0       0                 0             0           0
Ltd
                                      25490 201106        19/12/2020     189      189           168,545     168,545             47,193     47,193                0       0                 0             0           0

                                Totals for 2 Shipments                   707      707          629,996     629,996              176,860    176,860              0        0                 0             0           0


Totals for East Papua Timber Resources Ltd, 2 Shipments                  707      707          629,996     629,996              176,860    176,860               0        0                0             0            0


 Co. Grouping:            Joinland Management (PNG) Limited
Joinland Management (PNG)             25505 201201        29/12/2020 3,473      3,473         1,197,611 1,197,611              350,301    350,301           27,786   27,786         599,650       599,650     599,650
Limited

                                Totals for 1 Shipments                  3,473    3,473        1,197,611   1,197,611             350,301    350,301          27,786   27,786           599,650      599,650     599,650


Totals for Joinland Management (PNG) Limited, 1 Shipments               3,473    3,473        1,197,611   1,197,611             350,301    350,301          27,786   27,786           599,650      599,650     599,650




 17- 2                                                                                                                                                                        Report Number 17:       Page 2 of 5 pages

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Report: Shipment Duty Calculation Comparison Summary for December / 2020                          Continued

Co. Grouping /                       SGS Ref PNGFA         Date       Volume Exported (m3)         FOB Value (Kina)                FOB Value (USD)               Levy (Kina)         Duty Payable (K)                       Difference
                                                                                                                                                                                                            Duty
Exporter
                                     Number     Permit   Exported Invoice       SGS Diff.     Invoice    SGS     Difference     Invoice SGS    Difference     SGS      Paid Diff.     Invoice        SGS Paid (K)           SGS-Paid


 Co. Grouping:            Kinmas Investment Ltd
Kinmas Investment Ltd                25441 202010        28/12/2020 10,998     10,998        2,318,649 2,318,649              678,205     678,205            87,982    87,982         710,417       686,254     710,417      (24,163)
                                     25522 201204        28/12/2020 7,009       7,009        1,721,979 1,721,979              503,679     503,679            56,071    56,071         775,478       775,478     775,478

                               Totals for 2 Shipments                 18,007   18,007        4,040,628    4,040,628           1,181,884   1,181,884         144,053   144,053         1,485,895     1,461,732   1,485,895      (24,163)


Totals for Kinmas Investment Ltd, 2 Shipments                         18,007   18,007        4,040,628    4,040,628           1,181,884   1,181,884         144,053   144,053         1,485,895     1,461,732   1,485,895      (24,163)


 Co. Grouping:            KK Connections Ltd
KK Connections Ltd                   25473 201107        23/12/2020 3,558       3,558          810,166      810,166           236,974     236,974            28,464    28,464         295,661       295,661     295,661
                                     25474 201107        22/12/2020 6,247       6,247        1,423,155 1,423,155              416,273     416,273            49,975    49,975         555,179       555,179     555,179

                               Totals for 2 Shipments                  9,805    9,805        2,233,321    2,233,321            653,246     653,246           78,439    78,439           850,840      850,840     850,840


KL Connections Ltd                   25470 201107        22/12/2020 8,164       8,164        1,886,661 1,886,661              551,848     551,848            65,315    65,315         696,955       696,954     696,955
                                     25472 201107        22/12/2020 3,733       3,733        1,076,252 1,076,252              314,804     314,804            29,868    29,868         462,427       462,427     462,427

                               Totals for 2 Shipments                 11,898   11,898        2,962,913    2,962,913            866,652     866,652           95,183    95,183         1,159,382     1,159,382   1,159,382


Laloani No.8 Ltd                     25471 201107        22/12/2020 2,637       2,637          611,100      611,100           178,747     178,747            21,095    21,095         230,091       230,091     230,091

                               Totals for 1 Shipments                  2,637    2,637         611,100      611,100             178,747     178,747           21,095    21,095           230,091      230,091     230,091


Totals for KK Connections Ltd, 5 Shipments                            24,340   24,340        5,807,334    5,807,334           1,698,645   1,698,645         194,717   194,717         2,240,313     2,240,313   2,240,313


 Co. Grouping:            Mekar (PNG) Limited
Mekar (PNG) Limited                  25494 201200        22/12/2020 5,385       5,385        1,414,844 1,414,844              413,842     413,842            43,080    43,080         559,691       559,691     559,691

                               Totals for 1 Shipments                  5,385    5,385        1,414,844    1,414,844            413,842     413,842           43,080    43,080           559,691      559,691     559,691


Totals for Mekar (PNG) Limited, 1 Shipments                            5,385    5,385        1,414,844    1,414,844            413,842     413,842           43,080    43,080           559,691      559,691     559,691


 Co. Grouping:            Open Bay Timber Ltd
Open Bay Timber Ltd                  25465 201105        12/12/2020     580      580             91,153       91,153           25,523      25,523                 0        0                 0             0           0

 17- 3                                                                                                                                                                          Report Number 17:       Page 3 of 5 pages

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Report: Shipment Duty Calculation Comparison Summary for December / 2020                          Continued

Co. Grouping /                        SGS Ref PNGFA        Date       Volume Exported (m3)         FOB Value (Kina)                FOB Value (USD)               Levy (Kina)         Duty Payable (K)                       Difference
                                                                                                                                                                                                            Duty
Exporter
                                      Number    Permit   Exported Invoice      SGS Diff.      Invoice    SGS     Difference     Invoice SGS    Difference     SGS      Paid Diff.     Invoice        SGS Paid (K)           SGS-Paid

Open Bay Timber Ltd                   25466 201105       12/12/2020 2,884      2,884         1,028,184 1,028,184              287,892      287,892                0        0                 0             0           0
                                      25467 201104       12/12/2020 2,425      2,425           793,274      793,274           222,117      222,117                0        0                 0             0           0
                                      25468 201104       12/12/2020     118      118             18,491       18,491            5,178         5,178               0        0                 0             0           0

                                Totals for 4 Shipments                 6,007    6,007        1,931,103    1,931,103            540,709       540,709             0         0                 0             0           0


Totals for Open Bay Timber Ltd, 4 Shipments                            6,007    6,007        1,931,103    1,931,103            540,709       540,709             0          0                0             0            0


 Co. Grouping:            PJ Plantation Limited
PJ Plantation Limited                 25405 202010       11/12/2020     862      862           530,747      530,747           155,244      155,244            6,900     6,900         270,911       270,911     270,911
                                      25406 202010       11/12/2020 6,929      6,929         4,974,453 4,974,453          1,455,027       1,455,027          55,430   55,430         2,539,434 2,539,434 2,539,434

                                Totals for 2 Shipments                 7,791    7,791        5,505,200    5,505,200           1,610,271    1,610,271        62,329    62,329          2,810,345     2,810,345   2,810,345


Totals for PJ Plantation Limited, 2 Shipments                          7,791    7,791        5,505,200    5,505,200           1,610,271    1,610,271         62,329    62,329         2,810,345     2,810,345   2,810,345


 Co. Grouping:            Rimbunan Hijau (PNG) Ltd
Wawoi Guavi Timber Co Ltd             25460 201104       22/12/2020 3,607      3,607           616,602      616,602           180,356      180,356           28,857   28,857          154,150       154,150     154,150
                                      25464 201105       22/12/2020 2,193      2,193           610,125      610,125           178,462      178,462           17,545   17,545          282,496       282,496     282,496

                                Totals for 2 Shipments                 5,800    5,800        1,226,727    1,226,727            358,818       358,818        46,402    46,402            436,647      436,647     436,647


Totals for Rimbunan Hijau (PNG) Ltd, 2 Shipments                       5,800    5,800        1,226,727    1,226,727            358,818       358,818         46,402    46,402           436,647      436,647     436,647


 Co. Grouping:            Tutuman Development Ltd
Maxland (PNG) Ltd                     25487 201106       13/12/2020 6,524      6,524         2,634,531 2,634,531              770,600      770,600           52,191   52,191         1,342,272 1,342,272 1,342,272

                                Totals for 1 Shipments                 6,524    6,524        2,634,531    2,634,531            770,600       770,600        52,191    52,191          1,342,272     1,342,272   1,342,272


Millionplus Corporation Ltd           25491 201109       22/12/2020 7,001      7,001         2,042,050 2,042,050              597,300      597,300           56,006   56,006          935,688       935,688     935,688

                                Totals for 1 Shipments                 7,001    7,001        2,042,050    2,042,050            597,300       597,300        56,006    56,006            935,688      935,688     935,688


Totals for Tutuman Development Ltd, 2 Shipments                       13,525   13,525        4,676,581    4,676,581           1,367,900    1,367,900        108,198   108,198         2,277,960     2,277,960   2,277,960


 17- 4                                                                                                                                                                          Report Number 17:       Page 4 of 5 pages

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Report: Shipment Duty Calculation Comparison Summary for December / 2020                       Continued

Co. Grouping /                       SGS Ref PNGFA        Date    Volume Exported (m3)          FOB Value (Kina)                FOB Value (USD)                 Levy (Kina)               Duty Payable (K)                     Difference
                                                                                                                                                                                                               Duty
Exporter
                                     Number    Permit   Exported Invoice     SGS Diff.     Invoice    SGS     Difference     Invoice SGS    Difference       SGS      Paid Diff.           Invoice      SGS Paid (K)           SGS-Paid


 Co. Grouping:            Vanimo Jaya Ltd
Vanimo Jaya Ltd                      25478 201107       16/12/2020 10,525   10,525         2,687,007 2,687,007             785,950      785,950             84,199     84,199             1,186,656 1,083,103 1,186,656 (103,553)

                               Totals for 1 Shipments              10,525    10,525       2,687,007    2,687,007            785,950       785,950          84,199      84,199              1,186,656   1,083,103   1,186,656     (103,553)


Totals for Vanimo Jaya Ltd, 1 Shipments                            10,525    10,525       2,687,007    2,687,007            785,950       785,950          84,199      84,199              1,186,656   1,083,103   1,186,656     (103,553)


 Co. Grouping:            WTK Realty Ltd
Amanab Forest Products Ltd           25449 201101       03/12/2020 7,332     7,332         5,514,322 5,514,322         1,612,939       1,612,939            58,652     58,652             2,834,562 2,834,562 2,834,562
                                     25450 201101       03/12/2020 7,189     7,189         5,406,879 5,406,879         1,581,512       1,581,512            57,510     57,510             2,779,332 2,779,332 2,779,332
                                     25495 201103       20/12/2020 7,520     7,520         5,580,219 5,580,219         1,632,214       1,632,214            60,161     60,161             2,861,753 2,861,753 2,861,753

                               Totals for 3 Shipments              22,040    22,040      16,501,420   16,501,420           4,826,665    4,826,665         176,323     176,323              8,475,648   8,475,648   8,475,648


Pacific Region Development Ltd       25475 201106       12/12/2020 10,349   10,349         3,052,750 3,052,750             892,929      892,929             82,789     82,789             1,376,577 1,376,577 1,376,577
                                     25496 201201       19/12/2020 6,765     6,765         1,765,287 1,765,287             516,346      516,346             54,122     54,122              740,711     740,711     740,711
                                     25509 201201       30/12/2020 9,145     9,145         2,569,685 2,569,685             751,633      751,633             73,162     73,162             1,131,357 1,131,357 1,131,357

                               Totals for 3 Shipments              26,259    26,259       7,387,721    7,387,721           2,160,908    2,160,908         210,073     210,073              3,248,644   3,248,644   3,248,644


Totals for WTK Realty Ltd, 6 Shipments                             48,299    48,299      23,889,141   23,889,141           6,987,574    6,987,574         386,395     386,395             11,724,292 11,724,292 11,724,292


Totals for December / 2020, 39 Shipments                          210,841   210,841      84,460,429   84,460,429       24,682,016      24,682,016        1,633,011   1,595,931   37,079   38,555,537 38,366,642 38,555,537       (188,895)




 17- 5                                                                                                                                                                            Report Number 17:        Page 5 of 5 pages

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      Revenue, Banking, Document and Shipment Details for Log Exports
             by Exporting Company, Project Site and Shipment
                            for December/2020
  Report Printed: Friday, 29 January 2021


Exporter and IPA Code Number
    Site Code
                  Export     PNGFA Bank                   LC Number/         Bill of          Invoice               SGS       Invoice        SGS          Invoice Exch.
                  Date       Permit                       T/T Remittance     Lading No.       Number               Vol m3      Vol m3      FOB USD       FOB USD Rate

Amanab 56 Timber Investments Ltd ; IPA Code Number:
    Amanab Blocks 5 & 6 FMA 110-4 (61002)
                 01/12/2020 2009003                       Not Yet Received   AM56-2020-008C   AMNB-2020-008B      4,333.621    4,333.621      953,397       953,397   .2935
                 01/12/2020 20201094                      Not Yet Received   AM56-2020-009A   AM56-2020-009A      7,389.592    7,389.592    1,625,710     1,625,710   .2925
                 01/12/2020 20201095                      Not Yet Received   AM56-2020-009B   AM56-2020-009B      8,622.287    8,622.287    1,896,903     1,896,903   .2925
                 01/12/2020 2009002                       Not Yet Received   AM56-2020-008C   AMNB-2020-008A      7,530.582    7,530.582    1,656,728     1,656,728   .2935
    Totals for 'Site Code' = Amanab Blocks 5 & 6 FMA 110-4 (61002)                                              27,876.082 27,876.082      6,132,738     6,132,738
Totals for 'Exporter' = Amanab 56 Timber Investments Ltd; IPA Code:                                             27,876.082 27,876.082      6,132,738     6,132,738


Amanab Forest Products Ltd ; IPA Code Number:
    Amanab Blocks 1-4 FMA (61001)
                 03/12/2020 2011013                       Not Yet Received   AFP 09A/20       AFP/ER/09A/2020     7,331.542    7,331.542    1,612,939     1,612,939   .2925
                 03/12/2020 2011014                       Not Yet Received   AFP 09/20        AFP/ERL/09/2020     7,188.691    7,188.691    1,581,512     1,581,512   .2925

 18- 1                                                                                                                               Report Number 18:   Page 1 of 7 pages

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Report - Log Export Revenues and Volumes and Document Details by Shipment, for December/2020   Continued

Exporter and IPA Code Number
     Site Code
                     Export      PNGFA Bank                          LC Number/                Bill of          Invoice               SGS       Invoice        SGS          Invoice Exch.
                     Date        Permit                              T/T Remittance            Lading No.       Number               Vol m3      Vol m3      FOB USD       FOB USD Rate
                    20/12/2020 2011039                               Not Yet Received          AFP 10/20        AFP/ERL/10/2020     7,520.103    7,520.103    1,632,214     1,632,214   .2925
     Totals for 'Site Code' = Amanab Blocks 1-4 FMA (61001)                                                                       22,040.336 22,040.336      4,826,665     4,826,665
Totals for 'Exporter' = Amanab Forest Products Ltd; IPA Code:                                                                     22,040.336 22,040.336      4,826,665     4,826,665


Aset Meriah (PNG) Ltd ; IPA Code Number:
     Alimbit Andru (TP 11408)
                    16/12/2020 2012002                               Not Yet Received          06AA20           2012002            15,157.690   15,157.690    1,300,728     1,300,728   .2925
     Totals for 'Site Code' = Alimbit Andru (TP 11408)                                                                            15,157.690 15,157.690      1,300,728     1,300,728
Totals for 'Exporter' = Aset Meriah (PNG) Ltd; IPA Code:                                                                          15,157.690 15,157.690      1,300,728     1,300,728


Cakara Alam (PNG) Ltd ; IPA Code Number: 1-14078
     East Arawe (11455)
                    09/12/2020 2011025                               Not Yet Received          EA/08/20         2011052             5,456.329    5,456.329      458,760       458,760   .2925
                    09/12/2020 2011052                               Not Yet Received          EA/08/20         2011052             1,095.216    1,095.216       49,285        49,285   .2925
     Totals for 'Site Code' = East Arawe (11455)                                                                                   6,551.545    6,551.545     508,045       508,045
Totals for 'Exporter' = Cakara Alam (PNG) Ltd; IPA Code: 1-14078                                                                   6,551.545    6,551.545     508,045       508,045


Canopus No. 16 Ltd ; IPA Code Number:
     Wipim Tapila FMA (60110)
                    03/12/2020 2011033                               Not Yet Received          CNP/B/2007-A     CNP/I/2007-A        6,580.681    6,580.681      394,710       394,710   .2925
                    21/12/2020 2012007                               Not Yet Received          CNP/B/2007-B     CNO/I/2007-B        3,325.540    3,325.540      218,363       218,363   .2925
     Totals for 'Site Code' = Wipim Tapila FMA (60110)                                                                             9,906.221    9,906.221     613,073       613,073
Totals for 'Exporter' = Canopus No. 16 Ltd; IPA Code:                                                                              9,906.221    9,906.221     613,073       613,073


East Papua Timber Resources Ltd ; IPA Code Number:
     Brown River/Kuriva (10337)
                    19/12/2020 2011069                               Not Yet Received          2033NMTKMUN005   EPTRL-05/20          188.770      188.770        47,193        47,193   .2800

 18- 2                                                                                                                                                 Report Number 18:   Page 2 of 7 pages

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Report - Log Export Revenues and Volumes and Document Details by Shipment, for December/2020   Continued

Exporter and IPA Code Number
     Site Code
                     Export      PNGFA Bank                          LC Number/                Bill of          Invoice              SGS       Invoice        SGS          Invoice Exch.
                     Date        Permit                              T/T Remittance            Lading No.       Number              Vol m3      Vol m3      FOB USD       FOB USD Rate
                    19/12/2020 20201009                              Not Yet Received          2033NMTKMUN005   EPTRL-04/20         518.671      518.671       129,668       129,668   .2810
     Totals for 'Site Code' = Brown River/Kuriva (10337)                                                                           707.441      707.441      176,860       176,860
Totals for 'Exporter' = East Papua Timber Resources Ltd; IPA Code:                                                                 707.441      707.441      176,860       176,860


Joinland Management (PNG) Limited ; IPA Code Number:
     Lak TRP Project (TP 11643)
                    29/12/2020 2012014                               Not Yet Received          JM002            JM002              3,473.215    3,473.215      350,301       350,301   .2925
     Totals for 'Site Code' = Lak TRP Project (TP 11643)                                                                          3,473.215    3,473.215     350,301       350,301
Totals for 'Exporter' = Joinland Management (PNG) Limited; IPA Code:                                                              3,473.215    3,473.215     350,301       350,301


Kinmas Investment Ltd ; IPA Code Number:
     Lako Imila (PNGFAL - 682/10)-20302
                    28/12/2020 2012042                               Not Yet Received          KIL/20/12/02     KIL/20/C12/001     7,008.831    7,008.831      503,679       503,679   .2925
                    28/12/2020 202010106                             Not Yet Received          KIL/20/12/01     KIL/20/C12/001    10,997.739   10,997.739      678,205       678,205   .2925
     Totals for 'Site Code' = Lako Imila (PNGFAL - 682/10)-20302                                                                 18,006.570 18,006.570      1,181,884     1,181,884
Totals for 'Exporter' = Kinmas Investment Ltd; IPA Code:                                                                         18,006.570 18,006.570      1,181,884     1,181,884


KK Connections Ltd ; IPA Code Number:
     Seraji EXN TRP PROJ. (TP 11558)
                    23/12/2020 2011078                               Not Yet Received          KS20/12/01       KS20/12/01         3,558.007    3,558.007      236,974       236,974   .2925
     Totals for 'Site Code' = Seraji EXN TRP PROJ. (TP 11558)                                                                     3,558.007    3,558.007     236,974       236,974

     Taraiwara(Ext) Agro Reforest.(FCA 71514)
                    22/12/2020 2011079                               Not Yet Received          KP20/12/01       KP20/12/01         6,246.919    6,246.919      416,273       416,273   .2925
     Totals for 'Site Code' = Taraiwara(Ext) Agro Reforest.(FCA 7151                                                              6,246.919    6,246.919     416,273       416,273
Totals for 'Exporter' = KK Connections Ltd; IPA Code:                                                                             9,804.926    9,804.926     653,246       653,246




 18- 3                                                                                                                                                Report Number 18:   Page 3 of 7 pages

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Report - Log Export Revenues and Volumes and Document Details by Shipment, for December/2020   Continued

Exporter and IPA Code Number
     Site Code
                     Export      PNGFA Bank                          LC Number/                Bill of      Invoice          SGS       Invoice        SGS          Invoice Exch.
                     Date        Permit                              T/T Remittance            Lading No.   Number          Vol m3      Vol m3      FOB USD       FOB USD Rate

KL Connections Ltd ; IPA Code Number:
     Dengnenge 'B' Agro Forestry (FCA 71516)
                    22/12/2020 2011076                               Not Yet Received          KD20/12/01   KD20/12/01     8,164.366    8,164.366      551,848      551,848    .2925
     Totals for 'Site Code' = Dengnenge 'B' Agro Forestry (FCA 71516                                                      8,164.366    8,164.366     551,848       551,848

     Makolkol Intergrated Agri. (FCA 71509)
                    22/12/2020 2011077                               Not Yet Received          KL20/12/01   KL20/12/01     3,733.469    3,733.469      314,804      314,804    .2925
     Totals for 'Site Code' = Makolkol Intergrated Agri. (FCA 71509)                                                      3,733.469    3,733.469     314,804       314,804
Totals for 'Exporter' = KL Connections Ltd; IPA Code:                                                                    11,897.835 11,897.835       866,652       866,652


Laloani No.8 Ltd ; IPA Code Number:
     Dengnenge "A"Intergrated Agri (FCA7151
                    22/12/2020 2011075                               Not Yet Received          LN20/12/01   LN20/12/01     2,636.854    2,636.854      178,747      178,747    .2925
     Totals for 'Site Code' = Dengnenge "A"Intergrated Agri (FCA715                                                       2,636.854    2,636.854     178,747       178,747
Totals for 'Exporter' = Laloani No.8 Ltd; IPA Code:                                                                       2,636.854    2,636.854     178,747       178,747


Maxland (PNG) Ltd ; IPA Code Number:
     Pohowa Agro_Forestry (FCA 71801)
                    13/12/2020 2011064                               Not Yet Received          MX010        MX010          6,523.904    6,523.904      770,600      770,600    .2925
     Totals for 'Site Code' = Pohowa Agro_Forestry (FCA 71801)                                                            6,523.904    6,523.904     770,600       770,600
Totals for 'Exporter' = Maxland (PNG) Ltd; IPA Code:                                                                      6,523.904    6,523.904     770,600       770,600


Mekar (PNG) Limited ; IPA Code Number:
     Aliai-Sisimi-Hargy Consolidated TP 11438
                    22/12/2020 2012008                               Not Yet Received          HRY/006      MKB 06/20      5,385.035    5,385.035      413,842      413,842    .2925
     Totals for 'Site Code' = Aliai-Sisimi-Hargy Consolidated TP 1143                                                     5,385.035    5,385.035     413,842       413,842



 18- 4                                                                                                                                        Report Number 18:   Page 4 of 7 pages

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Report - Log Export Revenues and Volumes and Document Details by Shipment, for December/2020   Continued

Exporter and IPA Code Number
     Site Code
                     Export      PNGFA Bank                          LC Number/                Bill of          Invoice              SGS       Invoice        SGS          Invoice Exch.
                     Date        Permit                              T/T Remittance            Lading No.       Number              Vol m3      Vol m3      FOB USD       FOB USD Rate
Totals for 'Exporter' = Mekar (PNG) Limited; IPA Code:                                                                            5,385.035    5,385.035     413,842       413,842


Millionplus Corporation Ltd ; IPA Code Number:
     Konoagil Inter.Agri.Proj. (FCA 71603)
                    22/12/2020 2011090                               Not Yet Received          MM-35            MM-35              7,000.799    7,000.799      597,300      597,300    .2925
     Totals for 'Site Code' = Konoagil Inter.Agri.Proj. (FCA 71603)                                                               7,000.799    7,000.799     597,300       597,300
Totals for 'Exporter' = Millionplus Corporation Ltd; IPA Code:                                                                    7,000.799    7,000.799     597,300       597,300


Open Bay Timber Ltd ; IPA Code Number:
     Open Bay Consolidated [Pltn] (11501)
                    12/12/2020 2011051                               Not Yet Received          OBT-2020-05      OBT-2020-05        2,884.472    2,884.472      287,892      287,892    .2800
                    12/12/2020 2011048                               Not Yet Received          OBT-2020-05      OBT-2020-05         117.672      117.672         5,178        5,178    .2800
                    12/12/2020 2011049                               Not Yet Received          OBT-2020-05      OBT-2020-05        2,425.127    2,425.127      222,117      222,117    .2800
                    12/12/2020 2011050                               Not Yet Received          OBT-2020-05      OBT-2020-05         580.067      580.067        25,523       25,523    .2800
     Totals for 'Site Code' = Open Bay Consolidated [Pltn] (11501)                                                                6,007.338    6,007.338     540,709       540,709
Totals for 'Exporter' = Open Bay Timber Ltd; IPA Code:                                                                            6,007.338    6,007.338     540,709       540,709


Pacific Region Development Ltd ; IPA Code Number:
     Gar Consolidated TRP (TP 11544)
                    19/12/2020 2012012                               Not Yet Received          PRDL® 11A/2020   PRDL® 11A/2020     6,765.210    6,765.210      516,346      516,346    .2925
     Totals for 'Site Code' = Gar Consolidated TRP (TP 11544)                                                                     6,765.210    6,765.210     516,346       516,346

     Senbam Cons. TRP (TP11552)
                    12/12/2020 2011063                               Not Yet Received          PRDL®11/2020     PRDL®11/2020      10,348.582   10,348.582      892,929      892,929    .2925
     Totals for 'Site Code' = Senbam Cons. TRP (TP11552)                                                                         10,348.582 10,348.582       892,929       892,929

     Waterfall bay Extn CONS.TRP(TP 11555)
                    30/12/2020 2012013                               Not Yet Received          PRDL(D)12/2020   PRDL®12/2020       9,145.292    9,145.292      751,633      751,633    .2925


 18- 5                                                                                                                                                Report Number 18:   Page 5 of 7 pages

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Report - Log Export Revenues and Volumes and Document Details by Shipment, for December/2020   Continued

Exporter and IPA Code Number
     Site Code
                     Export      PNGFA Bank                          LC Number/                Bill of        Invoice            SGS       Invoice        SGS          Invoice Exch.
                     Date        Permit                              T/T Remittance            Lading No.     Number            Vol m3      Vol m3      FOB USD       FOB USD Rate
     Totals for 'Site Code' = Waterfall bay Extn CONS.TRP(TP 11555)                                                           9,145.292    9,145.292     751,633       751,633
Totals for 'Exporter' = Pacific Region Development Ltd; IPA Code:                                                            26,259.084 26,259.084      2,160,908     2,160,908


PJ Plantation Limited ; IPA Code Number:
     Idam-Saiwi Inter Agri Proj (FCA 10-09)
                    11/12/2020 20201056                              Not Yet Received          GV-20-05       PJ-004-2020      6,928.702    6,928.702    1,455,027     1,455,027   .2925
                    11/12/2020 20201057                              Not Yet Received          GV-20-04       PJ-005-2020       862.464      862.464       155,244       155,244   .2925
     Totals for 'Site Code' = Idam-Saiwi Inter Agri Proj (FCA 10-09)                                                          7,791.166    7,791.166    1,610,271     1,610,271
Totals for 'Exporter' = PJ Plantation Limited; IPA Code:                                                                      7,791.166    7,791.166    1,610,271     1,610,271


Stettin Bay Lumber Co. Ltd ; IPA Code Number: 1-898
     Ania Kapiura Consolidated (11452)
                    05/12/2020 2011040                               Not Yet Received          YO-910-A       YO-910-A         6,367.149    6,367.149      598,539       598,539   .2925
                    05/12/2020 2011068                               Not Yet Received          YO-910-B       YO-910-B         1,122.817    1,122.817       56,141        56,141   .2925
     Totals for 'Site Code' = Ania Kapiura Consolidated (11452)                                                               7,489.966    7,489.966     654,679       654,679
Totals for 'Exporter' = Stettin Bay Lumber Co. Ltd; IPA Code: 1-898                                                           7,489.966    7,489.966     654,679       654,679


Vanimo Jaya Ltd ; IPA Code Number:
     Makapa Timber Area (10109)
                    16/12/2020 2011073                               Not Yet Received          MKP/013/2020   MKP/013/2020    10,524.819   10,524.819      785,950       785,950   .2925
     Totals for 'Site Code' = Makapa Timber Area (10109)                                                                     10,524.819 10,524.819       785,950       785,950
Totals for 'Exporter' = Vanimo Jaya Ltd; IPA Code:                                                                           10,524.819 10,524.819       785,950       785,950


Wawoi Guavi Timber Co Ltd ; IPA Code Number: 1-8150
     Wawoi Guavi (10107)
                    22/12/2020 2011057                               Not Yet Received          WGRL01C1220    CO               2,193.160    2,193.160      178,462       178,462   .2925
                    22/12/2020 2011047                               Not Yet Received          WGRL01B1220    CO               3,607.121    3,607.121      180,356       180,356   .2925

 18- 6                                                                                                                                            Report Number 18:   Page 6 of 7 pages

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Report - Log Export Revenues and Volumes and Document Details by Shipment, for December/2020   Continued

Exporter and IPA Code Number
     Site Code
                     Export      PNGFA Bank                          LC Number/                Bill of      Invoice      SGS      Invoice        SGS           Invoice Exch.
                     Date        Permit                              T/T Remittance            Lading No.   Number      Vol m3     Vol m3      FOB USD        FOB USD Rate
     Totals for 'Site Code' = Wawoi Guavi (10107)                                                                     5,800.281   5,800.281     358,818        358,818
Totals for 'Exporter' = Wawoi Guavi Timber Co Ltd; IPA Code: 1-8150                                                   5,800.281   5,800.281     358,818        358,818



Grand Totals
      Tota                                                                                                             210,841     210,841    24,682,016     24,682,016




 18- 7                                                                                                                                   Report Number 18:    Page 7 of 7 pages

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Substantial Log Export Permit Discrepancies in Log Volumes Loaded for Export for
December/2020 (discrepancies exceeding 40%, or exceeding 10% and 40 m3)
Report printed: 29/01/2021 9:14:07 am


                                                                                                                   SGS Date       Permit                        Species/           Permit Shipped Discrep-
Co. Grouping                            Exporter                         Site                                    Ref No. Exported Number Grade                  Group             Vol. (m3) Vol. (m3) ancy (%)

Canopus No. 16 Ltd                      Canopus No. 16 Ltd               Wipim Tapila FMA (60110)                 25492   21/12/2020   2012007   Saw/Veneer     Terminalia           87.238 862.502              888.7
Kinmas Investment Ltd                   Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302       25522   28/12/2020   2012042   Saw/Veneer     Canarium                 30 139.421              364.7
KK Connections Ltd                      Laloani No.8 Ltd                 Dengnenge "A"Intergrated Agri (FCA7151   25471   22/12/2020   2011075   Saw/Veneer     Planchonella              2     8.07             303.5
WTK Realty Ltd                          Pacific Region Development Ltd   Senbam Cons. TRP (TP11552)               25475   12/12/2020   2011063   Saw/Veneer     Group 2                 350 1267.879             262.3
KK Connections Ltd                      Laloani No.8 Ltd                 Dengnenge "A"Intergrated Agri (FCA7151   25471   22/12/2020   2011075   Saw/Veneer     Group 2                   4   12.966             224.2
Aset Meriah (PNG) Ltd                   Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                 25489   16/12/2020   2012002   Saw/Veneer     Lophopetallum             3    9.134             204.5
                                                                                                                                                                /Perupok
WTK Realty Ltd                          Pacific Region Development Ltd Gar Consolidated TRP (TP 11544)            25496   19/12/2020 2012012 Saw/Veneer         Erima                     10       30.094        200.9
Aset Meriah (PNG) Ltd                   Aset Meriah (PNG) Ltd          Alimbit Andru (TP 11408)                   25489   16/12/2020 2012002 Saw/Veneer         PNG Walnut               125      372.845        198.3
East Papua Timber                       East Papua Timber Resources Brown River/Kuriva (10337)                    25367   19/12/202020201009 Plantation diam    Teak (b) tiny            150      401.504        167.7
Resources Ltd                           Ltd                                                                                                  20 - 29 cm: tiny   small (plntn)
                                                                                                                                             small
Rimbunan Hijau (PNG) Ltd                Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                      25464   22/12/2020 2011057 Saw/Veneer         Dillenia                  50 122.015             144.0
Tutuman Development Ltd                 Millionplus Corporation Ltd      Konoagil Inter.Agri.Proj. (FCA 71603)    25491   22/12/2020 2011090 Saw/Veneer         Group 3                   33   80.453            143.8
Kinmas Investment Ltd                   Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302       25522   28/12/2020 2012042 Saw/Veneer         Group 4                 2000 4633.348            131.7
Rimbunan Hijau (PNG) Ltd                Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                      25464   22/12/2020 2011057 Saw/Veneer         Group 4                  200 449.647             124.8
Rimbunan Hijau (PNG) Ltd                Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                      25464   22/12/2020 2011057 Saw/Veneer         Calophyllum               50 111.508             123.0
Aset Meriah (PNG) Ltd                   Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                 25489   16/12/2020 2012002 Saw/Veneer         Canarium                 190 409.418             115.5
Canopus No. 16 Ltd                      Canopus No. 16 Ltd               Wipim Tapila FMA (60110)                 25452   03/12/2020 2011033 Saw/Veneer         Kwila                  7.477   15.428            106.3
Aset Meriah (PNG) Ltd                   Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                 25489   16/12/2020 2012002 Saw/Veneer         Burckella                237 464.917              96.2
Aset Meriah (PNG) Ltd                   Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                 25489   16/12/2020 2012002 Saw/Veneer         Erima                    120 230.894              92.4
Rimbunan Hijau (PNG) Ltd                Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                      25464   22/12/2020 2011057 Saw/Veneer         Group 3                  300 572.075              90.7
Kinmas Investment Ltd                   Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302       25441            202010106 Saw/Veneer
                                                                                                                          28/12/2020                            Group 4                 3000 5520.411             84.0
CS Boss International Ltd               Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)        25462   05/12/2020 2011040 Saw/Veneer         Malas                   1000   1809.2             80.9


 19- 1                                                                                                                                                                        Report Number 19:     Page 1 of 5 pages

Page 96 screenshot
Field163:
REPORT - Substantial Log Export Permit Discrepancies in Volumes Exported for December/2020                Continued

                                                                                                       SGS Date       Permit                        Species/         Permit Shipped Discrep-
Co. Grouping                Exporter                         Site                                    Ref No. Exported Number Grade                  Group           Vol. (m3) Vol. (m3) ancy (%)

Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)                   25452   03/12/2020   2011033   Saw/Veneer   Group 2          327.485       590.961         80.5
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)                   25492   21/12/2020   2012007   Saw/Veneer   Group 3          302.858       543.101         79.3
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)                 25478   16/12/2020   2011073   Saw/Veneer   Erima                260       459.854         76.9
Tutuman Development Ltd     Maxland (PNG) Ltd                Pohowa Agro_Forestry (FCA 71801)           25487   13/12/2020   2011064   Saw/Veneer   Group 3              517       896.464         73.4
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)                   25492   21/12/2020   2012007   Saw/Veneer   Kwila             20.945        36.283         73.2
Tutuman Development Ltd     Millionplus Corporation Ltd      Konoagil Inter.Agri.Proj. (FCA 71603)      25491   22/12/2020   2011090   Saw/Veneer   Canarium              95       163.803         72.4
Tutuman Development Ltd     Maxland (PNG) Ltd                Pohowa Agro_Forestry (FCA 71801)           25487   13/12/2020   2011064   Saw/Veneer   Dillenia              65       108.908         67.6
Tutuman Development Ltd     Millionplus Corporation Ltd      Konoagil Inter.Agri.Proj. (FCA 71603)      25491   22/12/2020   2011090   Saw/Veneer   Group 2                7        11.584         65.5
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                   25489   16/12/2020   2012002   Saw/Veneer   Planchonella         165       268.857         62.9
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)                   25452   03/12/2020   2011033   Saw/Veneer   Terminalia       219.117        356.79         62.8
WTK Realty Ltd              Pacific Region Development Ltd   Gar Consolidated TRP (TP 11544)            25496   19/12/2020   2012012   Saw/Veneer   Lophopetallum         10        16.004         60.0
                                                                                                                                                    /Perupok
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                   25489   16/12/2020   2012002   Saw/Veneer   Malas               1640   2587.884            57.8
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)                   25452   03/12/2020   2011033   Saw/Veneer   Group 3          767.127   1155.469            50.6
Mekar (PNG) Limited         Mekar (PNG) Limited              Aliai-Sisimi-Hargy Consolidated TP 11438   25494   22/12/2020   2012008   Saw/Veneer   Group 2               17     24.041            41.4
Rimbunan Hijau (PNG) Ltd    Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                        25464   22/12/2020   2011057   Saw/Veneer   Taun                 200    281.642            40.8
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                   25489   16/12/2020   2012002   Saw/Veneer   Taun                2300   3237.164            40.7
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                   25489   16/12/2020   2012002   Saw/Veneer   Terminalia           600    836.711            39.5
KK Connections Ltd          KK Connections Ltd               Seraji EXN TRP PROJ. (TP 11558)            25473   23/12/2020   2011078   Saw/Veneer   Terminalia           200    272.929            36.5
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)                 25478   16/12/2020   2011073   Saw/Veneer   Terminalia           290     392.57            35.4
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)          25462   05/12/2020   2011040   Saw/Veneer   Group 2              300    396.586            32.2
WTK Realty Ltd              Pacific Region Development Ltd   Senbam Cons. TRP (TP11552)                 25475   12/12/2020   2011063   Saw/Veneer   Kwila                250     330.26            32.1
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                   25489   16/12/2020   2012002   Saw/Veneer   Kwila                330    432.233            31.0
Mekar (PNG) Limited         Mekar (PNG) Limited              Aliai-Sisimi-Hargy Consolidated TP 11438   25494   22/12/2020   2012008   Saw/Veneer   Group 4              412    536.262            30.2
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)                   25489   16/12/2020   2012002   Saw/Veneer   Pencil Cedar         350    453.759            29.6
Cakara Alam (PNG) Ltd       Cakara Alam (PNG) Ltd            East Arawe (11455)                         25448   09/12/2020   2011025   Saw/Veneer   Taun                1417   1785.385            26.0
KK Connections Ltd          KK Connections Ltd               Seraji EXN TRP PROJ. (TP 11558)            25473   23/12/2020   2011078   Saw/Veneer   Group 3              200    250.907            25.5
Cakara Alam (PNG) Ltd       Cakara Alam (PNG) Ltd            East Arawe (11455)                         25448   09/12/2020   2011025   Saw/Veneer   Group 2              521    639.828            22.8
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)                 25478   16/12/2020   2011073   Saw/Veneer   Group 4             2300   2805.071            22.0
Mekar (PNG) Limited         Mekar (PNG) Limited              Aliai-Sisimi-Hargy Consolidated TP 11438   25494   22/12/2020   2012008   Saw/Veneer   Malas                562    671.116            19.4
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)          25462   05/12/2020   2011040   Saw/Veneer   Dillenia            1240   1431.634            15.5
KK Connections Ltd          Laloani No.8 Ltd                 Dengnenge "A"Intergrated Agri (FCA7151     25471   22/12/2020   2011075   Saw/Veneer   Group 3              330    377.018            14.2
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)                 25478   16/12/2020   2011073   Saw/Veneer   Canarium            1100   1242.546            13.0
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)                 25478   16/12/2020   2011073   Saw/Veneer   Group 3             2000   2253.667            12.7

 19- 2                                                                                                                                                         Report Number 19:     Page 2 of 5 pages

Page 97 screenshot
Field163:
REPORT - Substantial Log Export Permit Discrepancies in Volumes Exported for December/2020           Continued

                                                                                                 SGS Date       Permit                       Species/        Permit Shipped Discrep-
Co. Grouping                Exporter                         Site                              Ref No. Exported Number Grade                 Group          Vol. (m3) Vol. (m3) ancy (%)

WTK Realty Ltd              Pacific Region Development Ltd   Senbam Cons. TRP (TP11552)            25475   12/12/2020 2011063   Saw/Veneer   Group 4              650    729.526          12.2
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)            25478   16/12/2020 2011073   Saw/Veneer   Pencil Cedar         600    665.752          11.0
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)              25489   16/12/2020 2012002   Saw/Veneer   Calophyllum          420    465.485          10.8
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)            25478   16/12/2020 2011073   Saw/Veneer   Calophyllum          500    550.503          10.1
Tutuman Development Ltd     Maxland (PNG) Ltd                Pohowa Agro_Forestry (FCA 71801)      25487   13/12/2020 2011064   Saw/Veneer   Taun                1081    966.262         -10.6
WTK Realty Ltd              Pacific Region Development Ltd   Gar Consolidated TRP (TP 11544)       25496   19/12/2020 2012012   Saw/Veneer   Group 4              400    352.859         -11.8
WTK Realty Ltd              Pacific Region Development Ltd   Senbam Cons. TRP (TP11552)            25475   12/12/2020 2011063   Saw/Veneer   Taun                4500   3904.045         -13.2
Cakara Alam (PNG) Ltd       Cakara Alam (PNG) Ltd            East Arawe (11455)                    25448   09/12/2020 2011025   Saw/Veneer   Malas                519    446.356         -14.0
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013   Saw/Veneer   Group 4             1500   1289.666         -14.0
Cakara Alam (PNG) Ltd       Cakara Alam (PNG) Ltd            East Arawe (11455)                    25448   09/12/2020 2011025   Saw/Veneer   Group 4              957    821.471         -14.2
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013   Saw/Veneer   Taun                3500   2941.158         -16.0
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)     25462   05/12/2020 2011040   Saw/Veneer   Calophyllum          950    796.666         -16.1
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)     25462   05/12/2020 2011040   Saw/Veneer   Group 3              350     289.23         -17.4
WTK Realty Ltd              Pacific Region Development Ltd   Gar Consolidated TRP (TP 11544)       25496   19/12/2020 2012012   Saw/Veneer   Malas                600     494.59         -17.6
Kinmas Investment Ltd       Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302    25441            202010106
                                                                                                           28/12/2020           Saw/Veneer   Taun                1500   1235.593         -17.6
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)            25478   16/12/2020 2011073   Saw/Veneer   Taun                1000    823.149         -17.7
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)     25462   05/12/2020 2011040   Saw/Veneer   Taun                 700     564.64         -19.3
WTK Realty Ltd              Pacific Region Development Ltd   Senbam Cons. TRP (TP11552)            25475   12/12/2020 2011063   Saw/Veneer   Group 3              550        443         -19.5
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)     25462   05/12/2020 2011040   Saw/Veneer   Group 4              450    349.757         -22.3
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)     25462   05/12/2020 2011040   Saw/Veneer   Terminalia           350    266.153         -24.0
Rimbunan Hijau (PNG) Ltd    Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                   25464   22/12/2020 2011057   Saw/Veneer   Group 2              250    187.752         -24.9
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)            25478   16/12/2020 2011073   Saw/Veneer   Malas                150    108.609         -27.6
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013   Saw/Veneer   Group 3             1500   1081.025         -27.9
WTK Realty Ltd              Pacific Region Development Ltd   Gar Consolidated TRP (TP 11544)       25496   19/12/2020 2012012   Saw/Veneer   Pencil Cedar         200    142.519         -28.7
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)     25481   05/12/2020 2011068   Low grade    All Species         1600   1122.817         -29.8
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25492   21/12/2020 2012007   Saw/Veneer   Group 2          414.563    290.111         -30.0
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013   Saw/Veneer   Malas                450    307.875         -31.6
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013   Saw/Veneer   Group 2              200    136.019         -32.0
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013   Saw/Veneer   Canarium             220    145.416         -33.9
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013   Saw/Veneer   Burckella            250    162.947         -34.8
Cakara Alam (PNG) Ltd       Cakara Alam (PNG) Ltd            East Arawe (11455)                    25448   09/12/2020 2011025   Saw/Veneer   Burckella            291    188.863         -35.1
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25452   03/12/2020 2011033   Saw/Veneer   Taun             131.207     80.897         -38.3
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)              25489   16/12/2020 2012002   Saw/Veneer   Group 4             1630    971.003         -40.4



 19- 3                                                                                                                                                  Report Number 19:   Page 3 of 5 pages

Page 98 screenshot
Field163:
REPORT - Substantial Log Export Permit Discrepancies in Volumes Exported for December/2020           Continued

                                                                                                   SGS Date       Permit                               Species/           Permit Shipped Discrep-
Co. Grouping                Exporter                         Site                                Ref No. Exported Number Grade                         Group             Vol. (m3) Vol. (m3) ancy (%)

Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)            25478   16/12/2020 2011073     Saw/Veneer           Dillenia                50       29.495        -41.0
Kinmas Investment Ltd       Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302    25522   28/12/2020 2012042     Saw/Veneer           Taun                  1500      878.465        -41.4
Tutuman Development Ltd     Maxland (PNG) Ltd                Pohowa Agro_Forestry (FCA 71801)      25487   13/12/2020 2011064     Saw/Veneer           Burckella               25       14.628        -41.5
Kinmas Investment Ltd       Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302    25522   28/12/2020 2012042     Saw/Veneer           Group 3               1500      875.354        -41.6
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25492   21/12/2020 2012007     Saw/Veneer           Taun                85.996       48.891        -43.1
Kinmas Investment Ltd       Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302    25441            202010106
                                                                                                           28/12/2020             Saw/Veneer           Terminalia             300      167.503        -44.2
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd            Alimbit Andru (TP 11408)              25489   16/12/2020 2012002     Saw/Veneer           Group 3               1585      872.499        -45.0
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013     Saw/Veneer           PNG Walnut              50       27.374        -45.3
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013     Saw/Veneer           Planchonella           240      130.044        -45.8
WTK Realty Ltd              Pacific Region Development Ltd   Gar Consolidated TRP (TP 11544)       25496   19/12/2020 2012012     Saw/Veneer           Planchonella            30       16.101        -46.3
Cakara Alam (PNG) Ltd       Cakara Alam (PNG) Ltd            East Arawe (11455)                    25448   09/12/2020 2011025     Saw/Veneer           Lophopetallum           38       19.881        -47.7
                                                                                                                                                       /Perupok
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25492   21/12/2020 2012007     Saw/Veneer           PNG Walnut          84.564       43.224        -48.9
Tutuman Development Ltd     Millionplus Corporation Ltd      Konoagil Inter.Agri.Proj. (FCA 71603) 25491   22/12/2020 2011090     Saw/Veneer           Group 4                 35       17.297        -50.6
WTK Realty Ltd              Pacific Region Development Ltd   Waterfall bay Extn CONS.TRP(TP 11555) 25509   30/12/2020 2012013     Saw/Veneer           Dillenia               350      166.528        -52.4
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25492   21/12/2020 2012007     Saw/Veneer           Hekakoro            33.399       15.648        -53.1
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25452   03/12/2020 2011033     Saw/Veneer           PNG Walnut         109.798       51.105        -53.5
Vanimo Jaya Ltd             Vanimo Jaya Ltd                  Makapa Timber Area (10109)            25478   16/12/2020 2011073     Saw/Veneer           Group 2               1500      691.756        -53.9
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25452   03/12/2020 2011033     Saw/Veneer           Burckella          148.425       67.321        -54.6
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25492   21/12/2020 2012007     Saw/Veneer           Group 4           2732.383      1218.97        -55.4
Rimbunan Hijau (PNG) Ltd    Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                   25464   22/12/2020 2011057     Saw/Veneer           Hekakoro                60       23.224        -61.3
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)     25462   05/12/2020 2011040     Saw/Veneer           Burckella              200       74.918        -62.5
Kinmas Investment Ltd       Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302    25522   28/12/2020 2012042     Saw/Veneer           PNG Walnut             150       53.118        -64.6
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)              25452   03/12/2020 2011033     Saw/Veneer           Planchonella        45.705       16.133        -64.7
Kinmas Investment Ltd       Kinmas Investment Ltd            Lako Imila (PNGFAL - 682/10)-20302    25522   28/12/2020 2012042     Saw/Veneer           Group 2               1100      384.388        -65.1
East Papua Timber           East Papua Timber Resources      Brown River/Kuriva (10337)            25367   19/12/202020201009     Plantation diam      Teak (a) little        350      117.167        -66.5
Resources Ltd               Ltd                                                                                                   00 - 19 cm: little   small (plntn)
                                                                                                                                  small
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)             25452    03/12/2020   2011033   Saw/Veneer           Canarium           116.808       37.746        -67.7
WTK Realty Ltd              Pacific Region Development Ltd   Senbam Cons. TRP (TP11552)           25475    12/12/2020   2011063   Saw/Veneer           Dillenia                50        16.06        -67.9
Rimbunan Hijau (PNG) Ltd    Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                  25464    22/12/2020   2011057   Saw/Veneer           Erima                  150        47.24        -68.5
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)             25492    21/12/2020   2012007   Saw/Veneer           Planchonella        48.071       14.968        -68.9
Canopus No. 16 Ltd          Canopus No. 16 Ltd               Wipim Tapila FMA (60110)             25492    21/12/2020   2012007   Saw/Veneer           Canarium            74.883       23.271        -68.9
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd       Ania Kapiura Consolidated (11452)    25462    05/12/2020   2011040   Saw/Veneer           PNG Walnut              40       12.095        -69.8


 19- 4                                                                                                                                                             Report Number 19:     Page 4 of 5 pages

Page 99 screenshot
Field163:
REPORT - Substantial Log Export Permit Discrepancies in Volumes Exported for December/2020            Continued

                                                                                                    SGS Date       Permit                            Species/           Permit Shipped Discrep-
Co. Grouping                Exporter                      Site                                    Ref No. Exported Number Grade                      Group             Vol. (m3) Vol. (m3) ancy (%)

CS Boss International Ltd Stettin Bay Lumber Co. Ltd      Ania Kapiura Consolidated (11452)        25462   05/12/2020 2011040 Saw/Veneer             Canarium               150      35.032        -76.6
Rimbunan Hijau (PNG) Ltd Wawoi Guavi Timber Co Ltd        Wawoi Guavi (10107)                      25464   22/12/2020 2011057 Saw/Veneer             Lophopetallum           20       4.544        -77.3
                                                                                                                                                     /Perupok
Kinmas Investment Ltd       Kinmas Investment Ltd         Lako Imila (PNGFAL - 682/10)-20302       25522   28/12/2020 2012042   Saw/Veneer           Terminalia             200      44.737        -77.6
Rimbunan Hijau (PNG) Ltd    Wawoi Guavi Timber Co Ltd     Wawoi Guavi (10107)                      25464   22/12/2020 2011057   Saw/Veneer           Burckella              100      21.351        -78.6
Rimbunan Hijau (PNG) Ltd    Wawoi Guavi Timber Co Ltd     Wawoi Guavi (10107)                      25464   22/12/2020 2011057   Saw/Veneer           Kwila                   50       9.983        -80.0
CS Boss International Ltd   Stettin Bay Lumber Co. Ltd    Ania Kapiura Consolidated (11452)        25462   05/12/2020 2011040   Saw/Veneer           Kwila                  100      19.603        -80.4
Aset Meriah (PNG) Ltd       Aset Meriah (PNG) Ltd         Alimbit Andru (TP 11408)                 25489   16/12/2020 2012002   Saw/Veneer           Group 2               1300      240.48        -81.5
Kinmas Investment Ltd       Kinmas Investment Ltd         Lako Imila (PNGFAL - 682/10)-20302       25441            202010106
                                                                                                           28/12/2020           Saw/Veneer           Canarium               100      15.403        -84.6
Tutuman Development Ltd     Millionplus Corporation Ltd   Konoagil Inter.Agri.Proj. (FCA 71603)    25491   22/12/2020 2011090   Saw/Veneer           Dillenia                85      12.026        -85.9
East Papua Timber           East Papua Timber Resources   Brown River/Kuriva (10337)               25490   19/12/2020 2011069   Plantation diam      Teak (a) little        350      47.769        -86.4
Resources Ltd               Ltd                                                                                                 00 - 19 cm: little   small (plntn)
                                                                                                                                small
Tutuman Development Ltd     Maxland (PNG) Ltd             Pohowa Agro_Forestry (FCA 71801)         25487   13/12/2020 2011064   Saw/Veneer           Group 2                 10       1.281        -87.2
Rimbunan Hijau (PNG) Ltd    Wawoi Guavi Timber Co Ltd     Wawoi Guavi (10107)                      25464   22/12/2020 2011057   Saw/Veneer           Planchonella            40       4.913        -87.7
Canopus No. 16 Ltd          Canopus No. 16 Ltd            Wipim Tapila FMA (60110)                 25492   21/12/2020 2012007   Saw/Veneer           Erima                71.16       7.864        -88.9
Kinmas Investment Ltd       Kinmas Investment Ltd         Lako Imila (PNGFAL - 682/10)-20302       25441            202010106
                                                                                                           28/12/2020           Saw/Veneer           Group 2                500      43.286        -91.3
Canopus No. 16 Ltd          Canopus No. 16 Ltd            Wipim Tapila FMA (60110)                 25452   03/12/2020 2011033   Saw/Veneer           Erima              175.314       6.836        -96.1


Total Volume Exported Where Shipped Volumes have Major Discrepancies From Endorsed Volumes:                                                                                   73,380.254




 19- 5                                                                                                                                                           Report Number 19:    Page 5 of 5 pages

Page 100 screenshot
Field70:
Report - Monthly Document Delays for December / 2020
Date printed: 29/01/2021 9:14:25 am

Co. Grouping                 Exporting Company                SGS Ref    Date LIR    Date Documents   Document Delay
                                                              Number     Recieved        Recieved      (No of days)

Aset Meriah (PNG) Ltd
                             Aset Meriah (PNG) Ltd
                                                               24620    20/12/2020   31 / 01 / 20         -324
                                                               24621    20/12/2020   31 / 01 / 20         -324
                                                               25489    21/12/2020   29 / 01 / 21           39

                             Number of Shipments / Av Delay      3                                       -203.0

                             Milton Limited
                                                               25461    03/12/2020   30 / 12 / 20           27

                             Number of Shipments / Av Delay      1                                         27.0

Number of Shipments / Av Delay                                   4                                       -145.5

Cakara Alam (PNG) Ltd
                             Cakara Alam (PNG) Ltd
                                                               25448    18/12/2020   28 / 01 / 21           41
                                                               25469    18/12/2020   29 / 01 / 21           42

                             Number of Shipments / Av Delay      2                                         41.5

Number of Shipments / Av Delay                                   2                                         41.5

CS Boss International Ltd
                             Stettin Bay Lumber Co. Ltd
                                                               24701    16/12/2020   30 / 01 / 20         -321

                             Number of Shipments / Av Delay      1                                       -321.0

Number of Shipments / Av Delay                                   1                                       -321.0

Joinland Management (PNG) Limited
                       Joinland Management (PNG) Limited
                                                               25427    14/12/2020   03 / 12 / 20          -11

                             Number of Shipments / Av Delay      1                                        -11.0

Number of Shipments / Av Delay                                   1                                        -11.0

KK Connections Ltd
                             KK Connections Ltd
                                                               25341    04/12/2020   13 / 11 / 20          -21

                             Number of Shipments / Av Delay      1                                        -21.0

                             KL Connections Ltd
                                                               25423    04/12/2020   03 / 12 / 20           -1
                                                               25415    04/12/2020   16 / 11 / 20          -18
                                                               25445    04/12/2020   07 / 12 / 20            3
                                                               25337    04/12/2020   30 / 10 / 20          -35
                                                               25414    04/12/2020   16 / 11 / 20          -18
                                                               25434    04/12/2020   03 / 12 / 20           -1


Report Number 20:       Page 1 of 3 pages                                                                20- 1

Page 101 screenshot
Field70:
Report - Monthly Document Delays for December / 2020
Date printed: 29/01/2021 9:14:25 am

Co. Grouping                 Exporting Company                SGS Ref    Date LIR    Date Documents   Document Delay
                                                              Number     Recieved        Recieved      (No of days)

                                                               25342    04/12/2020   03 / 12 / 20           -1
                                                               25315    04/12/2020   13 / 11 / 20          -21
                                                               25435    04/12/2020   07 / 12 / 20            3
                                                               25413    04/12/2020   08 / 12 / 20            4
                                                               25412    03/12/2020   08 / 12 / 20            5
                                                               25338    03/12/2020   30 / 10 / 20          -34
                                                               25301    03/12/2020   12 / 11 / 20          -21
                                                               25336    04/12/2020   30 / 10 / 20          -35

                             Number of Shipments / Av Delay     14                                        -12.1

                             Laloani No.8 Ltd
                                                               25340    04/12/2020   12 / 11 / 20          -22
                                                               25411    04/12/2020   08 / 12 / 20            4
                                                               25339    03/12/2020   13 / 11 / 20          -20
                                                               25436    04/12/2020   07 / 12 / 20            3
                                                               25444    04/12/2020   03 / 12 / 20           -1
                                                               25410    04/12/2020   08 / 12 / 20            4
                                                               25326    03/12/2020   03 / 12 / 20            0

                             Number of Shipments / Av Delay      7                                         -4.6

Number of Shipments / Av Delay                                  22                                        -10.1

Open Bay Timber Ltd
                             Open Bay Timber Ltd
                                                               25468    22/12/2020   14 / 01 / 21           23
                                                               25467    22/12/2020   14 / 01 / 21           23
                                                               25466    22/12/2020   14 / 01 / 21           23
                                                               25465    22/12/2020   14 / 01 / 21           23

                             Number of Shipments / Av Delay      4                                         23.0

Number of Shipments / Av Delay                                   4                                         23.0

Rimbunan Hijau (PNG) Ltd
                             Wawoi Guavi Timber Co Ltd
                                                               25464    23/12/2020   15 / 01 / 21           23
                                                               25451    22/12/2020   15 / 01 / 21           24
                                                               25460    22/12/2020   15 / 01 / 21           24

                             Number of Shipments / Av Delay      3                                         23.7

Number of Shipments / Av Delay                                   3                                         23.7

Tutuman Development Ltd
                             Millionplus Corporation Ltd
                                                               25432    14/12/2020   03 / 12 / 20          -11
                                                               25372    14/12/2020   08 / 12 / 20           -6
                                                               25371    14/12/2020   15 / 12 / 20            1



Report Number 20:       Page 2 of 3 pages                                                                20- 2

Page 102 screenshot
Field70:
Report - Monthly Document Delays for December / 2020
Date printed: 29/01/2021 9:14:25 am

Co. Grouping                 Exporting Company                SGS Ref    Date LIR    Date Documents   Document Delay
                                                              Number     Recieved        Recieved      (No of days)

                             Number of Shipments / Av Delay      3                                         -5.3

Number of Shipments / Av Delay                                   3                                         -5.3

Vanimo Jaya Ltd
                             Vanimo Jaya Ltd
                                                               25478    11/12/2020   12 / 01 / 21           32

                             Number of Shipments / Av Delay      1                                         32.0

Number of Shipments / Av Delay                                   1                                         32.0

WTK Realty Ltd
                             Amanab Forest Products Ltd
                                                               25450    10/12/2020   07 / 12 / 20           -3
                                                               25449    09/12/2020   07 / 12 / 20           -2

                             Number of Shipments / Av Delay      2                                         -2.5

                             Logohu Limited
                                                               25368    08/12/2020   03 / 12 / 20           -5
                                                               25424    08/12/2020   03 / 12 / 20           -5

                             Number of Shipments / Av Delay      2                                         -5.0

                             Pacific Region Development Ltd
                                                               25496    24/12/2020   12 / 01 / 21           19
                                                               25475    24/12/2020   12 / 01 / 21           19

                             Number of Shipments / Av Delay      2                                         19.0

Number of Shipments / Av Delay                                   6                                          3.8



Monthly Number of Shipments / Average Delay                     47                                        -18.1




Report Number 20:       Page 3 of 3 pages                                                                20- 3

Page 103 screenshot
  Log Export Average Prices by Log Grades, Groups and
   Species and by Log Exporter Parent Companies, for
                    December - 2020
Date printed: 29/01/2021 9:14:56 am



Grade / Species Group / Species                      Company/Group             Ave FOB USD/m3 Volume, m3

 Saw/Veneer Group 1 Burckella
  Mean Company FOB Price:               77.91 USD/m3; Range:   70.00 - 92.00   USD/m3

                                                      CS Boss International Ltd          92.00     74.918
                                                      Tutuman Development Ltd            90.00     14.628
                                                      Aset Meriah (PNG) Ltd              85.00    464.917
                                                      Rimbunan Hijau (PNG) Ltd           85.00     21.351
                                                      Cakara Alam (PNG) Ltd              80.00    188.863
                                                      Joinland Management (PNG)          80.00     15.292
                                                      Limited
                                                      Vanimo Jaya Ltd                    80.00    132.419
                                                      Canopus No. 16 Ltd                 75.00     88.932
                                                      KK Connections Ltd                 70.00    255.083
                                                      WTK Realty Ltd                     70.00    392.475


 Saw/Veneer Group 1 Calophyllum
  Mean Company FOB Price: 104.36 USD/m3; Range:                90.00 - 119.28 USD/m3
                                                      Tutuman Development Ltd           119.28   4,235.767
                                                      CS Boss International Ltd         110.00     796.666
                                                      Aset Meriah (PNG) Ltd             105.00     465.485
                                                      Joinland Management (PNG)         105.00     101.986
                                                      Limited
                                                      Rimbunan Hijau (PNG) Ltd          105.00     111.508
                                                      Cakara Alam (PNG) Ltd             100.00     224.362
                                                      Mekar (PNG) Limited               100.00     255.421
                                                      Vanimo Jaya Ltd                   100.00     550.503
                                                      KK Connections Ltd                 95.00   2,316.093
                                                      Canopus No. 16 Ltd                 95.00     338.293
                                                      WTK Realty Ltd                     90.00   2,700.017




Report Number 21:        Page 1 of 8 pages                                                          21- 1

Page 104 screenshot
Grade / Species Group / Species                 Company/Group             Ave FOB USD/m3 Volume, m3

Saw/Veneer Group 1 Dillenia
 Mean Company FOB Price:           83.92 USD/m3; Range:   70.00 - 92.00   USD/m3

                                                 CS Boss International Ltd          92.00   1,431.634
                                                 Tutuman Development Ltd            89.01     120.934
                                                 Aset Meriah (PNG) Ltd              85.00       5.294
                                                 Rimbunan Hijau (PNG) Ltd           85.00     122.015
                                                 Cakara Alam (PNG) Ltd              80.00       5.576
                                                 Joinland Management (PNG)          80.00     281.691
                                                 Limited
                                                 Mekar (PNG) Limited                80.00      8.659
                                                 Vanimo Jaya Ltd                    80.00     29.495
                                                 WTK Realty Ltd                     70.00    792.476


Saw/Veneer Group 1 Erima
 Mean Company FOB Price:           78.50 USD/m3; Range:   70.00 - 92.00   USD/m3

                                                 CS Boss International Ltd          92.00    181.038
                                                 Aset Meriah (PNG) Ltd              85.00    230.894
                                                 Rimbunan Hijau (PNG) Ltd           85.00     47.240
                                                 Cakara Alam (PNG) Ltd              80.00     80.591
                                                 Mekar (PNG) Limited                80.00     52.091
                                                 Vanimo Jaya Ltd                    80.00    459.854
                                                 Canopus No. 16 Ltd                 75.00     14.700
                                                 WTK Realty Ltd                     70.00    599.025


Saw/Veneer Group 1 Grey Canarium
 Mean Company FOB Price:           76.60 USD/m3; Range:   70.00 - 85.00   USD/m3

                                                 Aset Meriah (PNG) Ltd              85.00    108.151
                                                 Rimbunan Hijau (PNG) Ltd           85.00     15.285
                                                 Cakara Alam (PNG) Ltd              80.00     95.163
                                                 Mekar (PNG) Limited                80.00     24.033
                                                 Vanimo Jaya Ltd                    80.00    160.098
                                                 Canopus No. 16 Ltd                 75.00     34.087
                                                 KK Connections Ltd                 70.00    170.334
                                                 WTK Realty Ltd                     70.00    122.658


Saw/Veneer Group 1 Hekakoro
 Mean Company FOB Price:           81.12 USD/m3; Range:   70.00 - 85.00   USD/m3

                                                 Rimbunan Hijau (PNG) Ltd           85.00     23.224
                                                 Canopus No. 16 Ltd                 80.00     15.648
                                                 WTK Realty Ltd                     70.00      6.516




Report Number 21:   Page 2 of 8 pages                                                          21- 2

Page 105 screenshot
Grade / Species Group / Species                 Company/Group             Ave FOB USD/m3 Volume, m3

Saw/Veneer Group 1 Kwila
 Mean Company FOB Price: 219.17 USD/m3; Range: 210.00 - 250.00 USD/m3

                                                 Tutuman Development Ltd           250.00     273.655
                                                 Cakara Alam (PNG) Ltd             250.00      42.039
                                                 Mekar (PNG) Limited               250.00      13.692
                                                 CS Boss International Ltd         250.00      19.603
                                                 Aset Meriah (PNG) Ltd             245.00     432.233
                                                 Rimbunan Hijau (PNG) Ltd          245.00       9.983
                                                 Joinland Management (PNG)         220.00      40.180
                                                 Limited
                                                 WTK Realty Ltd                    220.00   22,320.161
                                                 Amanab 56 Timber Investments      220.00   27,876.082
                                                 Ltd
                                                 Canopus No. 16 Ltd                210.00       51.711
                                                 PJ Plantation Limited             210.00    6,928.702


Saw/Veneer Group 1 Lophopetallum/Perupok
 Mean Company FOB Price:           72.94 USD/m3; Range:   70.00 - 85.00   USD/m3

                                                 Aset Meriah (PNG) Ltd              85.00       9.134
                                                 Rimbunan Hijau (PNG) Ltd           85.00       4.544
                                                 Cakara Alam (PNG) Ltd              80.00      19.881
                                                 Vanimo Jaya Ltd                    80.00      72.794
                                                 KK Connections Ltd                 70.00     140.507
                                                 WTK Realty Ltd                     70.00     138.050


Saw/Veneer Group 1 Malas
 Mean Company FOB Price:           83.92 USD/m3; Range:   70.00 - 92.00   USD/m3

                                                 CS Boss International Ltd          92.00    1,809.200
                                                 Aset Meriah (PNG) Ltd              85.00    2,587.884
                                                 Rimbunan Hijau (PNG) Ltd           85.00       37.666
                                                 Mekar (PNG) Limited                80.00      671.116
                                                 Vanimo Jaya Ltd                    80.00      108.609
                                                 Cakara Alam (PNG) Ltd              80.00      446.356
                                                 Canopus No. 16 Ltd                 75.00      167.779
                                                 WTK Realty Ltd                     70.00      802.465




Report Number 21:   Page 3 of 8 pages                                                           21- 3

Page 106 screenshot
Grade / Species Group / Species                 Company/Group             Ave FOB USD/m3 Volume, m3

Saw/Veneer Group 1 Pencil Cedar
 Mean Company FOB Price:           95.69 USD/m3; Range:   80.00 - 110.00 USD/m3
                                                 CS Boss International Ltd         110.00    140.597
                                                 Aset Meriah (PNG) Ltd             105.00    453.759
                                                 Rimbunan Hijau (PNG) Ltd          105.00    101.717
                                                 Joinland Management (PNG)         100.00    127.155
                                                 Limited
                                                 Mekar (PNG) Limited               100.00     70.227
                                                 Tutuman Development Ltd           100.00    100.567
                                                 Vanimo Jaya Ltd                   100.00    665.752
                                                 Canopus No. 16 Ltd                 95.00    134.341
                                                 KK Connections Ltd                 90.00    744.975
                                                 WTK Realty Ltd                     90.00    961.537
                                                 Cakara Alam (PNG) Ltd              80.00     98.692


Saw/Veneer Group 1 PNG Walnut
 Mean Company FOB Price:           75.95 USD/m3; Range:   70.00 - 92.00   USD/m3

                                                 CS Boss International Ltd          92.00     12.095
                                                 Aset Meriah (PNG) Ltd              85.00    372.845
                                                 Rimbunan Hijau (PNG) Ltd           85.00     59.791
                                                 Kinmas Investment Ltd              81.21    219.161
                                                 Cakara Alam (PNG) Ltd              80.00     98.174
                                                 Joinland Management (PNG)          80.00     27.501
                                                 Limited
                                                 Tutuman Development Ltd            80.00     68.221
                                                 Vanimo Jaya Ltd                    80.00    230.644
                                                 Canopus No. 16 Ltd                 75.00     94.329
                                                 KK Connections Ltd                 70.00    253.779
                                                 WTK Realty Ltd                     70.00    904.861


Saw/Veneer Group 1 Red Canarium
 Mean Company FOB Price:           77.10 USD/m3; Range:   70.00 - 92.00   USD/m3

                                                 CS Boss International Ltd          92.00     35.032
                                                 Aset Meriah (PNG) Ltd              85.00    301.267
                                                 Rimbunan Hijau (PNG) Ltd           85.00    111.932
                                                 Kinmas Investment Ltd              84.50    154.824
                                                 Cakara Alam (PNG) Ltd              80.00    131.781
                                                 Joinland Management (PNG)          80.00    138.887
                                                 Limited
                                                 Mekar (PNG) Limited                80.00     120.861
                                                 Tutuman Development Ltd            80.00     163.803
                                                 Vanimo Jaya Ltd                    80.00   1,082.448
                                                 Canopus No. 16 Ltd                 75.00      26.930
                                                 KK Connections Ltd                 70.00     741.243
                                                 WTK Realty Ltd                     70.00     612.544




Report Number 21:   Page 4 of 8 pages                                                          21- 4

Page 107 screenshot
Grade / Species Group / Species                 Company/Group             Ave FOB USD/m3 Volume, m3

Saw/Veneer Group 1 Red Planchonella
 Mean Company FOB Price:           76.77 USD/m3; Range:   70.00 - 85.00   USD/m3

                                                 Rimbunan Hijau (PNG) Ltd           85.00      4.913
                                                 Vanimo Jaya Ltd                    80.00     65.990
                                                 Canopus No. 16 Ltd                 75.00     25.740
                                                 KK Connections Ltd                 70.00     23.351
                                                 WTK Realty Ltd                     70.00      7.467


Saw/Veneer Group 1 Taun
 Mean Company FOB Price: 102.63 USD/m3; Range:            95.00 - 110.00 USD/m3
                                                 CS Boss International Ltd         110.00     564.640
                                                 Tutuman Development Ltd           107.99   4,845.305
                                                 Aset Meriah (PNG) Ltd             105.00   3,237.164
                                                 Joinland Management (PNG)         105.00   2,535.367
                                                 Limited
                                                 Rimbunan Hijau (PNG) Ltd          105.00     281.642
                                                 WTK Realty Ltd                    105.00   8,309.645
                                                 Kinmas Investment Ltd             102.08   2,114.058
                                                 Cakara Alam (PNG) Ltd             100.00   1,785.385
                                                 Mekar (PNG) Limited               100.00   1,814.039
                                                 Vanimo Jaya Ltd                   100.00     823.149
                                                 Canopus No. 16 Ltd                 95.00     129.788
                                                 KK Connections Ltd                 95.00   6,598.264


Saw/Veneer Group 1 Terminalia
 Mean Company FOB Price:           75.09 USD/m3; Range:   70.00 - 92.00   USD/m3

                                                 CS Boss International Ltd          92.00    266.153
                                                 Aset Meriah (PNG) Ltd              85.00    836.711
                                                 Rimbunan Hijau (PNG) Ltd           85.00     30.875
                                                 Tutuman Development Ltd            83.44    416.386
                                                 Kinmas Investment Ltd              81.05    212.240
                                                 Cakara Alam (PNG) Ltd              80.00    139.200
                                                 Joinland Management (PNG)          80.00     53.770
                                                 Limited
                                                 Mekar (PNG) Limited                80.00      50.834
                                                 Vanimo Jaya Ltd                    80.00     392.570
                                                 Canopus No. 16 Ltd                 75.00   1,219.292
                                                 KK Connections Ltd                 70.00   1,824.713
                                                 WTK Realty Ltd                     70.00   2,265.461




Report Number 21:   Page 5 of 8 pages                                                          21- 5

Page 108 screenshot
Grade / Species Group / Species                 Company/Group             Ave FOB USD/m3 Volume, m3

Saw/Veneer Group 1 White Planchonella
 Mean Company FOB Price:           77.28 USD/m3; Range:   70.00 - 85.00   USD/m3

                                                 Aset Meriah (PNG) Ltd              85.00    268.857
                                                 Cakara Alam (PNG) Ltd              80.00     93.031
                                                 Canopus No. 16 Ltd                 75.00      5.361
                                                 WTK Realty Ltd                     70.00    215.852
                                                 KK Connections Ltd                 70.00    102.347


Saw/Veneer Group 2
 Mean Company FOB Price:           65.21 USD/m3; Range:   60.00 - 80.00   USD/m3

                                                 Aset Meriah (PNG) Ltd              80.00    240.480
                                                 CS Boss International Ltd          80.00    396.586
                                                 Tutuman Development Ltd            76.00     12.865
                                                 Cakara Alam (PNG) Ltd              75.00    639.828
                                                 Joinland Management (PNG)          75.00     21.373
                                                 Limited
                                                 Rimbunan Hijau (PNG) Ltd           75.00     187.752
                                                 Kinmas Investment Ltd              74.49     427.674
                                                 Mekar (PNG) Limited                70.00      24.041
                                                 Vanimo Jaya Ltd                    70.00     691.756
                                                 Canopus No. 16 Ltd                 63.00     881.072
                                                 KK Connections Ltd                 60.00   1,754.247
                                                 WTK Realty Ltd                     60.00   2,721.016


Saw/Veneer Group 3
 Mean Company FOB Price:           63.33 USD/m3; Range:   55.00 - 79.18   USD/m3

                                                 Tutuman Development Ltd            79.18    976.917
                                                 Aset Meriah (PNG) Ltd              75.00    872.499
                                                 CS Boss International Ltd          75.00    289.230
                                                 Joinland Management (PNG)          70.00     79.775
                                                 Limited
                                                 Rimbunan Hijau (PNG) Ltd           70.00     572.075
                                                 Cakara Alam (PNG) Ltd              70.00     545.936
                                                 Kinmas Investment Ltd              70.00     875.354
                                                 Vanimo Jaya Ltd                    65.00   2,253.667
                                                 Mekar (PNG) Limited                65.00      79.745
                                                 Canopus No. 16 Ltd                 58.00   1,698.570
                                                 WTK Realty Ltd                     55.00   1,920.546
                                                 KK Connections Ltd                 55.00   2,612.200




Report Number 21:   Page 6 of 8 pages                                                          21- 6

Page 109 screenshot
Grade / Species Group / Species                 Company/Group             Ave FOB USD/m3 Volume, m3

Saw/Veneer Group 4
 Mean Company FOB Price:           58.55 USD/m3; Range:   50.00 - 73.35   USD/m3

                                                 Tutuman Development Ltd            73.35     104.894
                                                 CS Boss International Ltd          70.00     349.757
                                                 Aset Meriah (PNG) Ltd              70.00     971.003
                                                 Rimbunan Hijau (PNG) Ltd           65.00     449.647
                                                 Joinland Management (PNG)          65.00      50.238
                                                 Limited
                                                 Kinmas Investment Ltd              62.28   10,153.759
                                                 Cakara Alam (PNG) Ltd              60.00      821.471
                                                 Mekar (PNG) Limited                60.00      536.262
                                                 Vanimo Jaya Ltd                    60.00    2,805.071
                                                 Canopus No. 16 Ltd                 53.00    4,979.648
                                                 WTK Realty Ltd                     50.27    2,506.648
                                                 KK Connections Ltd                 50.00    1,791.343


Plantation diam 60+ cm: regular Kamarere (e) regular (plntn)
 Mean Company FOB Price: 134.50 USD/m3; Range: 134.50 - 134.50 USD/m3

                                                 Open Bay Timber Ltd               134.50     235.779


Plantation diam 50 - 59 cm: small Kamarere (d) small (plntn)
 Mean Company FOB Price: 115.00 USD/m3; Range: 115.00 - 115.00 USD/m3

                                                 Open Bay Timber Ltd               115.00     705.694


Plantation diam 40 - 49 cm: super small Kamarere (c) super small
(plntn)
 Mean Company FOB Price: 102.50 USD/m3; Range: 102.50 - 102.50 USD/m3

                                                 Open Bay Timber Ltd               102.50    2,015.020


Plantation diam 30 - 39 cm: baby small Kamarere (b) baby small
(plntn)
 Mean Company FOB Price:           81.00 USD/m3; Range:   81.00 - 81.00   USD/m3

                                                 Open Bay Timber Ltd                81.00    2,353.106


Plantation diam 20 - 29 cm: tiny small Teak (b) tiny small (plntn)
 Mean Company FOB Price: 250.00 USD/m3; Range: 250.00 - 250.00 USD/m3

                                                 East Papua Timber Resources Ltd   250.00     542.505




Report Number 21:   Page 7 of 8 pages                                                           21- 7

Page 110 screenshot
Grade / Species Group / Species                 Company/Group             Ave FOB USD/m3 Volume, m3

Plantation diam 20 - 29 cm: tiny small Kamarere (a) tiny small
(plntn)
 Mean Company FOB Price:           44.00 USD/m3; Range:   44.00 - 44.00   USD/m3

                                                 Open Bay Timber Ltd                44.00    697.739


Plantation diam 00 - 19 cm: little small Teak (a) little small (plntn)
 Mean Company FOB Price: 250.00 USD/m3; Range: 250.00 - 250.00 USD/m3

                                                 East Papua Timber Resources Ltd   250.00    164.936


Low Grade
 Mean Company FOB Price:           52.49 USD/m3; Range:   40.00 - 180.00 USD/m3
                                                 PJ Plantation Limited             180.00     862.464
                                                 Rimbunan Hijau (PNG) Ltd           50.00   3,607.121
                                                 Kinmas Investment Ltd              50.00   3,849.500
                                                 Aset Meriah (PNG) Ltd              50.00   3,299.113
                                                 CS Boss International Ltd          50.00   1,122.817
                                                 Tutuman Development Ltd            50.00   2,190.761
                                                 Mekar (PNG) Limited                50.00   1,664.014
                                                 Cakara Alam (PNG) Ltd              45.00   1,095.216
                                                 KK Connections Ltd                 40.00   5,011.136




Report Number 21:   Page 8 of 8 pages                                                          21- 8

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          Annual Export Quotas and Log Export
         Volumes during the Current Quota Period

Site                                  Quota Start Date Quota End Date Quota (m3) Exported (m3)* % of Quota Exported
Ifane Agro-Forest Project - (FCA 70503)                                                21,183        Quota Data
                                                                                                     Unavailable
Aitape Lumi Consolidated FMA (61003)                                                  124,651        Quota Data
                                                                                                     Unavailable
East Awin (TP 10101)                                                                   28,953        Quota Data
                                                                                                     Unavailable
East Ferguson TRP (TP 10404)                                                            4,118        Quota Data
                                                                                                     Unavailable
Far North Coast TRP (TP 11212)                                                         26,075        Quota Data
                                                                                                     Unavailable
Gar Consolidated TRP (TP 11544)                                                        46,556        Quota Data
                                                                                                     Unavailable
Gara Modewa TRP (TP 10406)                                                             28,719        Quota Data
                                                                                                     Unavailable
Gwenif Wagasu Agro-Forestry (FCA 71                                                    20,069        Quota Data
                                                                                                     Unavailable
Huhu Forest Plantation (TA 34088)                                                      20,262        Quota Data
                                                                                                     Unavailable
Dengnenge 'B' Agro Forestry (FCA 7151                                                  51,746        Quota Data
                                                                                                     Unavailable
Idam-Saiwi Inter Agri Proj (FCA 71009)                                                  3,225        Quota Data
                                                                                                     Unavailable
Dengnenge "A"Intergrated Agri (FCA71                                                   68,737        Quota Data
                                                                                                     Unavailable
Illi Wawas/Masarau (FCA 71502)                                                         20,609        Quota Data
                                                                                                     Unavailable
Inland Pomio TRP (TP 11549)                                                               119        Quota Data
                                                                                                     Unavailable
Kapuluk Timber Project (11450)                                                         24,506        Quota Data
                                                                                                     Unavailable
Konoagil Inter.Agri.Proj. (FCA 71603)                                                 123,643        Quota Data
                                                                                                     Unavailable



*during quota period
Report Number 22: Page 1 of 5 pages               Printed: Friday, 29 January 2021                           22- 1

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Site                                  Quota Start Date Quota End Date Quota (m3) Exported (m3)* % of Quota Exported
Kui - Buso Consolidated TRP (TP 11332                                                  11,447        Quota Data
                                                                                                     Unavailable
Lak TRP Project (TP 11643)                                                              7,482        Quota Data
                                                                                                     Unavailable
Lako Imila (PNGFAL - 682/10)-20302                                                     66,004        Quota Data
                                                                                                     Unavailable
Lolo Blk 2 Ext. (21412)                                                                 2,263        Quota Data
                                                                                                     Unavailable
Idam-Saiwi Inter Agri Proj (FCA 10-09)                                                 23,883        Quota Data
                                                                                                     Unavailable
Autuvo Extension (21407)                                                               13,866        Quota Data
                                                                                                     Unavailable
Aliai-Sisimi-Hargy Consolidated TP 114                                                 26,750        Quota Data
                                                                                                     Unavailable
Alimbit Andru (TP 11408)                                                               50,584        Quota Data
                                                                                                     Unavailable
Amanab Blocks 1-4 FMA (61001)                                                         117,274        Quota Data
                                                                                                     Unavailable
Amanab Blocks 5 & 6 FMA 110-4 (6100                                                    80,344        Quota Data
                                                                                                     Unavailable
Andru Johana (LFA 21410)                                                               32,090        Quota Data
                                                                                                     Unavailable
Ania Kapiura Consolidated (11452)                                                      84,039        Quota Data
                                                                                                     Unavailable
Ania Kapuira Forest Pltn (TP 11403)                                                     2,191        Quota Data
                                                                                                     Unavailable
Anu Alimbit LFA (21405)                                                                 5,110        Quota Data
                                                                                                     Unavailable
East Arawe (11455)                                                                     60,723        Quota Data
                                                                                                     Unavailable
Aria Vanu Blk 3 (21413)                                                                 1,235        Quota Data
                                                                                                     Unavailable
Lower Musa Agro, (FCA 70505)                                                            5,299        Quota Data
                                                                                                     Unavailable
Awio Amgen (21409)                                                                     12,991        Quota Data
                                                                                                     Unavailable
Bewani LFA (21001)                                                                     22,956        Quota Data
                                                                                                     Unavailable
Brown River/Kuriva (10337)                                                              2,210        Quota Data
                                                                                                     Unavailable
Buhem Mongi Busiga (11338)                                                             22,404        Quota Data
                                                                                                     Unavailable
Cape Offord (TP 11548)                                                                 14,937        Quota Data
                                                                                                     Unavailable



*during quota period
Report Number 22: Page 2 of 5 pages               Printed: Friday, 29 January 2021                           22- 2

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Site                                  Quota Start Date Quota End Date Quota (m3) Exported (m3)* % of Quota Exported
Central New Ireland (11642)                                                            73,548        Quota Data
                                                                                                     Unavailable
DANFU Block 12,13,14,15&18 (11640)                                                     52,023        Quota Data
                                                                                                     Unavailable
Dengnenge "A"Int, Agri Proj (FCA 7151                                                   2,963        Quota Data
                                                                                                     Unavailable
Apong Agric - (FCA 71301)                                                               7,439        Quota Data
                                                                                                     Unavailable
Vailala Block 1 (10214)                                                                14,075        Quota Data
                                                                                                     Unavailable
Senbam Cons. TRP (TP11552)                                                             86,198        Quota Data
                                                                                                     Unavailable
Seraji EXN TRP PROJ. (TP 11558)                                                        81,956        Quota Data
                                                                                                     Unavailable
Taraiwara(Ext) Agro Reforest.(FCA 715                                                 100,846        Quota Data
                                                                                                     Unavailable
Tewelas: Konos-Pue TRP (TP11632)                                                       11,719        Quota Data
                                                                                                     Unavailable
Tikana ( Kaut) Forest Pltn (TA 31669)                                                  13,670        Quota Data
                                                                                                     Unavailable
Turama (10212)                                                                         25,239        Quota Data
                                                                                                     Unavailable
Turama Extension - Faia (10212a)                                                        2,336        Quota Data
                                                                                                     Unavailable
Ugana LFA (TP16-2)                                                                     22,304        Quota Data
                                                                                                     Unavailable
Lolo Block 1 (21402)                                                                    7,949        Quota Data
                                                                                                     Unavailable
Umboi Island (11327)                                                                    8,559        Quota Data
                                                                                                     Unavailable
Rottock Bay Consolidated (61402)                                                       70,627        Quota Data
                                                                                                     Unavailable
Wammy Rural Development Pro. (FCA7                                                     29,083        Quota Data
                                                                                                     Unavailable
Wanigela Tree Plantation (FCA 70506)                                                    5,422        Quota Data
                                                                                                     Unavailable
Waterfall bay Extn CONS.TRP(TP 1155                                                    40,120        Quota Data
                                                                                                     Unavailable
Wawoi Guavi (10107)                                                                    45,533        Quota Data
                                                                                                     Unavailable
Wepa Agri Blk (TA 10-118)                                                               1,402        Quota Data
                                                                                                     Unavailable
West Gadaisu TRP (10329)                                                               24,323        Quota Data
                                                                                                     Unavailable



*during quota period
Report Number 22: Page 3 of 5 pages               Printed: Friday, 29 January 2021                           22- 3

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Site                                  Quota Start Date Quota End Date Quota (m3) Exported (m3)* % of Quota Exported
Wewak/Turubu (FCA 71103)                                                               26,164        Quota Data
                                                                                                     Unavailable
Wipim Tapila FMA (60110)                                                               53,734        Quota Data
                                                                                                     Unavailable
Ulamona consolidated TRP (TP 11443)                                                    10,633        Quota Data
                                                                                                     Unavailable
Numbung Agri Blk (TA10-117)                                                             2,982        Quota Data
                                                                                                     Unavailable
Yagomi Bonga Gali (TA 12-201)                                                           7,801        Quota Data
                                                                                                     Unavailable
Lower Sepik (LFA 21101)                                                                20,225        Quota Data
                                                                                                     Unavailable
Makapa Timber Area (10109)                                                             75,837        Quota Data
                                                                                                     Unavailable
Makolkol Intergrated Agri. (FCA 71509)                                                 50,840        Quota Data
                                                                                                     Unavailable
Meander May Valley int.Agri. (FCA 7110                                                 17,415        Quota Data
                                                                                                     Unavailable
Miama B TRP (TP 11337)                                                                 19,037        Quota Data
                                                                                                     Unavailable
Morobe Coast TRP (TP 11335) Mopi Ca                                                    28,184        Quota Data
                                                                                                     Unavailable
Mosaleim TRP (TP 11457)                                                                48,515        Quota Data
                                                                                                     Unavailable
Semon (FCA 71302)                                                                      21,302        Quota Data
                                                                                                     Unavailable
Nakmai LFA (TP 11601)                                                                  17,337        Quota Data
                                                                                                     Unavailable
Sagarai Gadaisu (TP 10403)                                                              7,163        Quota Data
                                                                                                     Unavailable
Numbung Agriculture (TA 31095)                                                          4,485        Quota Data
                                                                                                     Unavailable
Open Bay Consolidated [Pltn] (11501)                                                   24,643        Quota Data
                                                                                                     Unavailable
Ormand Lako TRP Project (TP 10330)                                                     44,339        Quota Data
                                                                                                     Unavailable
Pakalua Agri. Forestry Intr (FCA 71402)                                                 1,479        Quota Data
                                                                                                     Unavailable
Pasismanua Ext (TP 11414)                                                              12,996        Quota Data
                                                                                                     Unavailable
Pohowa Agro_Forestry (FCA 71801)                                                       16,436        Quota Data
                                                                                                     Unavailable
Pulie Anu LFA (21404)                                                                  63,383        Quota Data
                                                                                                     Unavailable



*during quota period
Report Number 22: Page 4 of 5 pages               Printed: Friday, 29 January 2021                           22- 4

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Site                                  Quota Start Date Quota End Date Quota (m3) Exported (m3)* % of Quota Exported
Raicoast (11218)                                                                          403        Quota Data
                                                                                                     Unavailable
Lolo Block 2 (21403)                                                                   13,531        Quota Data
                                                                                                     Unavailable
Mussau TRP Project (TP 11641)                                                          44,804        Quota Data
                                                                                                     Unavailable




*during quota period
Report Number 22: Page 5 of 5 pages               Printed: Friday, 29 January 2021                           22- 5

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