Subject: BoD resolutions on unprofitable assets
From: "Vadim Pozharskyi" <[email-masked]>
To: "Hunter Biden" <[email-masked]>, "Devon Archer" <[email-masked]>, "Sebastian Momtazi" <[email-masked]>
Date: Fri, 3 Oct 2014 17:46:49 +0300

Dear Hunter and Devon,

I would like to inform you that in the process of preparing IFRS 2013 for
BHL, it was revealed two BHL's assets, namely Kefard and Fiber Pipes
companies, were estimated as unprofitable. Kefard (UK) is the company with
zero profit. It was acquired for the project, but has never been used,
since the project failed. The Fiber Pipes (Ukraine) is  the company with
activity that goes out of group's frame and has a low profit.

Thus, the Management has takne a decision to withdraw both assets. In the
attachment you will find the correspondent SPAs and resolutions.

This decision is purely technical and do not affect our key operations.

Therefore i kindly ask you to  sign these resolutions and forward them back
to me.

Dear Sebastian,

Could you arrange the signature by both shareholders?

Best,

Vady