Refineria Di Aruba N.V.

Refineria di Aruba N.V. (RdA), was incorporated on October 1st, 2016, under the laws of Aruba to be the landlord of the properties that Land Aruba acquired from the transfer & master settlement agreement with Valero Aruba Holding. The Government of Aruba is the sole shareholder of RdA N.V. The properties of RdA consist of: • A 235,000 BPD Crude Oil Refinery of Medium Complexity • A Transshipment Terminal of 7.0 MMB Storage Capacity & Two Tugboats • Two Reef berths with capacity to handle Ultra Large Crude Carriers (ULCC) • Supply & Marketing Assets to market & distribute petroleum products • Approximately 3,750,000 square meters of long lease lands Simultaneously on October 1st,2016 the Government of Aruba and CITGO entered into a Definitive Participation Agreement (DPA), which set forth the terms and conditions pursuant to which CITGO will participate in and fund the rehabilitation of the Aruba Refinery to operate as an Extra Heavy Crude Upgrader facility, to continue the operation of the transshipment terminal and the marine operation. Pursuant to this DPA, RdA and CITGO Aruba Refinery (CAR) entered agreements to lease the refinery assets, the transshipment terminal assets & storage tanks, marine assets and part of the respective refinery lands. The lease will be for a period of 15 years with the option by CITGO to extend for another 10 years. Furthermore, CAR agrees to develop and implement additional capital projects to improve the environmental impacts from the refinery such as the needed infrastructure to operate the refinery utilizing natural gas supply via a pipeline from Venezuela as its primary energy source. The parties also agreed to conduct research and development to further reduce carbon emissions by jointly developing a micro-algae pilot plant project. RdA’s main activities encompass: • Compliance monitoring of the agreements signed with Citgo Aruba Ø The Refinery, Terminal and Marine Assets Lease Agreements Ø The Terminal Service Agreement Ø The Product Supply Agreement • Management of RdA’s owned Fuels Marketing & Supply Aruba N.V. • Environmental, Health & Safety standard development and monitoring • Development of the excluded areas not part of the leased lands with CITGO • Pursue Integration of special projects for innovation like the Algae Bio-Refinery • Training & Development and a Certification program in the energy sector Refineria di Aruba N.V. serves to enhance Aruba’s economy, contribute to the quality of life of present and future generations by becoming a social responsible corporate citizen. With its team of experts in their related fields, RdA also aims to become a key player in the Oil & Gas downstream industry sector in the region.