MEDIA RELEASEBB Energy, Komgo and SGTraDex enter into MoU to collaborate on thedigitalisation of borrowing base financing.

Singapore, August 21, 2023 – A strategic partnership has been unveiled between
SGTraDex, BB Energy and Komgo, marking an advancement in digital trade financing.
The trio formalised their collaboration through the signing of a Memorandum ofUnderstanding (MoU) on 18th August 2023.
With an emphasis on elevating efficiency and innovation, this collaboration aims toenhance the conventional trade finance domain, providing unparalleled verifiability,fraud detection and risk mitigation capabilities.

Driving Efficiency Through Digital Integration
With a strong track record as Digital Agent for borrowing bases in Europe, the US andAsia, Komgo, together with SGTraDex’s data highway and BB Energy, seeks tocapitalise on digital innovation by integrating SGTraDex’s data highway, promisingenhanced interoperability, transparency, and operational ease.
"Our partnership with SGTraDex and BB Energy is a tribute to our objective togenerate value for both borrowers and lenders through tangible use cases. This robust
integration to a modern and trustworthy data source unlocks benefit for all andreinforces Komgo’s position as an aggregator of trade finance flows and technologies.”
stated Nicolas Djelalian, Managing Director of Komgo Pte Ltd

End-to-end Digitalisation of Borrowing Base Drawdown
BB Energy anticipates leveraging SGTraDex's data highway to exchange essential
documents through Komgo's platform, streamlining borrowing base drawdown with1

financing banks. A drawdown refers to the process of accessing funds or credit froma financing facility based on specific terms and conditions.
Anbu Ramasamy, Regional CFO, Asia Pacific: “BB Energy Asia is proud to be at theforefront of this initiative as the first commodity trader to take this step forward.
Embracing digitalisation is paramount when tackling governance and in providing
confidence to liquidity providers, enabling banks to extend financing more securely
and efficiently. With BB Energy’s domain expertise and SGTraDex and Komgo’s
robust digital infrastructures, this partnership will create a dynamic, differentiatedoffering that can pave the way for an industry-wide shift to efficient, more transparentstructured trade finance operations”.

A Dynamic Framework for Collaboration:
The MoU’s terms, designed for adaptability, ensure the alliance remains attuned to theindustry’s evolving demands. Both SGTraDex and Komgo are dedicated to support
BB Energy’s financing transactions with their financing banks, reflecting their role asindustry trailblazers.
This partnership effectively captures the spirit of innovation and collaboration
propelling SGTraDex and Komgo's efforts in reshaping the digital trade financing
landscape. With the imminent borrowing base drawdown and a unified commitment toindustry advancement, the partnership's potential to drive positive change remains
paramount.
Kelvin Ling, Head of Operations and Business Development, SGTraDex, summarised
the collaboration: "This strategic partnership is a testament to our commitment to drive
digital transformation for supply chain trade financing. The MOU signing marks thebeginning of a journey where SGTraDex, BB Energy, and Komgo collaborate to drive
operational efficiency and innovation in the industry. Our openness, neutrality, andemphasis on interoperability between systems will continue to shape this partnershipas we continue to foster relationships with industry solution providers."2Notes to Editor:Group photo

Seated from left: Mr Anbarasan Ramasamy, Director, B.B. Energy (Asia), Mr Kelvin
Ling, Head of Operations and Business Development, SGTraDex Services, Mr
Nicolas Djelalian, Managing Director, Komgo.
Standing: Mr Tan Chin Hwee, Chairman, SGTraDex Services3About BB Energy
BB Energy was founded by the Bassatne Family in the 1960s; with an operational
history of more than 50 years. Over the last decade, the Group has expanded its
trading operations from the Mediterranean and is now considered one of the leading
independently owned energy trading companies, globally. The Group is primarily
engaged in trading Crude, Refined Oil Products, LNG, LPG and is further diversifying
into the Renewable space. While the BB Energy remains a physical trader, it has
invested in midstream and downstream assets to create a platform for furtherinternational expansion.
Today, BB Energy is a dynamic independent energy trading company with key trading
hubs in London, Dubai, Houston, and Singapore; and has 500 employees, including
downstream, operating from 12 offices worldwide.
During 2022, BB Energy achieved traded volumes of 31 million tonnes of crude andpetroleum products and gas which resulted in a turnover of US$ 24 billion.

About Komgo
Komgo is the leading software development and technology services company
transforming the trade finance industry.
Our innovative solutions empower Treasury, Credit, and Trade Finance teams,streamlining communications and strengthening operational capacity for over 10,000
enterprise users worldwide.
From our Swiss roots we’ve expanded to key international locations including
Singapore, Paris, London, Toronto and Houston, where we’re trusted by a diverse
customer base which includes more than 200 multinational corporations and global
trade banks.
Together we’re building a trusted, transparent, and automated global trade execution
environment, where financing is quick and easily accessible. Approximately USD1bn
in transaction value flows through the Komgo Network each day.
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About SGTraDex
Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is adigital utility that facilitates the sharing of data between supply chain ecosystem
partners, streamlining information flows through a common data highway where data
can be shared in a trusted, secure and inclusive manner.
SGTraDex is a public-private partnership founded by IMDA, PSA, Trafigura, DBS,Jurong Port, OCBC, ONE, Advario, PIL, Standard Chartered and UOB. Their
proprietary technology aims to resolve pain points in supply chain ecosystems
including a heavy reliance on a paper-based system which lacks efficiency,transparency, and sustainability.
The move to digitise information will increase productivity and build supply chain
resilience. New efficiencies and opportunities will be unlocked when ecosystem
partners can collaborate to achieve a shared visibility of the end-to-end supply chain.
For more information, visit sgtradex.com
Media Contact
Alvin Teu
Marketing Manager, SGTraDex
alvin.teu@sgtradex.com

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