MEDIA RELEASEFirst successful drawdown of BB Energy Asia’s inaugural digital borrowing inAsia facilitated by SGTraDex between BB Energy, Saybolt and Natixis

Singapore, May 3, 2024 – BB Energy Asia, Saybolt and Natixis have concluded thefirst drawdown from BB Energy Asia’s first digital borrowing base in Asia overSGTraDex, underlining the ongoing momentum following the signing of a
Memorandum of Understanding (MoU) between BB Energy Asia, Komgo, andSGTraDex in August 2023.
This marks a significant milestone as the inaugural instance of direct involvement bya surveyor in a digital transaction, facilitated by Saybolt, which provided essential
documents like the Bill of Lading (BL), Certificates of Quality (CQ) andQuantity(COQ).

Expanding recognition of digital COQs and CQs
The rising adoption of digital Bills of Lading (BL), Certificates of Quality (CQ) andCertificates of Quantity (COQ) in trade finance represents the sector’s focus towards
safeguarding data integrity and fraud mitigation.
By digitalising essential trade documents and necessitating the exchange of thedocuments via a neutral data highway, organisations can streamline processes andprotect their trade data against manipulation and tampering.
Jeffri Tan, Business Development and Technical Manager, Saybolt Singapore Pte
Ltd stated, “As one of the largest testing inspection companies in this region, we are
happy to assist our client BB Energy (Asia) to embark on this digitalisation journey.
We welcome and support such initiative to promote the digitalization in our industry.”1Anbu Ramasamy, Regional CFO, Asia Pacific, BB Energy (Asia) Pte Ltd, stated:"This achievement represents a significant step forward in our journey towards
modernising traditional trade finance processes. The successful execution of our first
digital borrowing drawdown highlights the tangible benefits of digitalisation, including
enhanced data integrity and mitigation of fraud throughout the trade flow lifecycle."
The utilisation of digital Bill of Lading (BL), Certificates of Quality (CQ), andCertificates of Quantity (COQ) in this transaction signals the industry's readiness for
digital transformation. BB Energy Asia's collaboration with Saybolt and SGTraDex
marks as an industry pioneer and sets a precedent for future digital transactions,inspiring confidence and fostering momentum towards broader adoption of digitalsolutions in global trade finance.

Fostering the future of digitalised trade financeWithin the dynamic evolution of trade finance towards digitalisation, partnerships likethe one between Saybolt, BB Energy Asia, and SGTraDex represents a significant
milestone in collaboration.
The transaction not only indicates the industry's readiness for digital transformation
but also instils confidence across the entire trade finance sector.
By demonstrating successful implementations and tangible benefits, thesecollaborations will inspire momentum towards broader adoption and transformation
for a more digitally-driven future for global trade finance.
Kelvin Ling, Chief Business Development Officer, SGTraDex said: “SGTraDex iscommitted to foster transparency, accessibility and adoption of electronic trade
documents for the trade finance landscape. This enthusiasm for increasing
acceptance and exchange of electronic trade finance documents underscores thevision for a more efficient and resilient trade ecosystem.”

2Notes to Editor:

About BB Energy
BB Energy, founded by the Bassatne Family in the 1960s, is a dynamic independent
energy trading company with key trading hubs in London, Dubai, Houston, andSingapore. With over 50 years of operational history, BB Energy is considered one ofthe leading independently owned energy trading companies globally, engaged in
trading Crude, Refined Oil Products, LNG, LPG, and diversifying into the Renewable
space.
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 Saybolt
Saybolt Singapore was established in 1983 and has been one the major players inthe Inspection & Testing Industry in the Petroleum and Chemical Sectors. The
services provided include complete spectrum of inspection services pertaining tocustody transfer operations in the twin areas of “Quality and Quantity".
Saybolt Singapore operates a state-of-the-art laboratory for Petroleum,
Petrochemicals and Biofuels, round the clock — 365days/24hrs. The laboratory
operates and conforms to the highest international guidelines and constantly keeps
in step with the latest developments and amendments on the test procedures andtechniques.

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.
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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
Head of Marketing & Communications
alvin.teu@sgtradex.com

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