Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 77

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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 Addendum No. 3 to the Business Development and Structuring Consultancy Agreement dated June 27, 2024 and the Business Development
and Structuring Consultancy Agreement for the Development and Establishment of an International Financial Center in Vietnam dated July
5, 2024

On
April 29, 2025, in consideration of the Consultant’s continued commitment and efforts to assist the Company and provide the necessary
services as defined in the above mentioned (1) Business Development and Structuring Consultancy Agreement for establishing of a compartmentalized
regulated/unregulated Luxembourg Bank Fund (RAIF) and establishing of the Asian Diamond Exchange for rough and polished diamond trade
and the reconsolidating of the lab-grown diamond industry in Vietnam and/or elsewhere and (2) the Business Development and Structuring
Consultancy Agreement for the development and Establishment of an International Financial Center in Vietnam and/or elsewhere until these
projects are successfully completed, and in consideration of the additional damages and/or grief due to the unexpected delays and non-performances
of certain third-party financiers/investors of the Company, both parties agree that the Company shall pay the Consultant an additional
amount of Ten Million U.S. Dollars (USD 10,000,000) for the services mentioned in the above-mentioned Agreements. This amount is in addition
to the compensations previously agreed by both parties in the Business Development and Structuring Consultancy Agreement dated June 27,
2024, in the Business Development and Structuring Consultancy Agreement for the Development and Establishment of an International Financial
Center in Vietnam dated July 5, 2024, in the Combined Addendum No. 1 dated November 7, 2024, and in the Combined Addendum No. 2 dated
April 17, 2025. 

3.
US$ 120 MILLION ASSET MANAGEMENT AGREEMENT 

On
May 6, 2025, the Company signed an Asset Management Agreement with an ultra high net-worth investor to manage a total investment amount
of US$ 120,000,000 for a period of five years, renewable for an additional five years, unless terminated by either party. The Company
shall be entitled to thirty percent profit sharing from the investment portfolio under management and five percent annual management
fee.

F-17

ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Except
for the audited historical information contained herein, this report specifies forward