Dear Valued Customer,

With effect from 1st January 2020, IMO global cap for sulphur content in fuel oil used on board ships will
be adjusted from 3.50% m/m to 0.50% m/m (mass by mass). This new regulation will significantly improve
the carbon footprint of Maritime Industry, leading to a greener environment, benefiting the global
community.

PIL is fully supportive of this initiative, with action plan in place to ensure full compliance by 1st January
2020. In addition to the usage of compliant fuel, PIL will also review the investment of scrubbers to be
fitted on the larger ships.

The additional cost involved in the usage of compliant fuel and alternatives will eventually be
included/incorporated into our bunker surcharge formula which are trade specific. Customers will be
notified of the new bunker surcharge quantum closer to the implementation date.