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Afghanistan Investment Support Agency

License No: _1_~1_1_3_0_5 _

Bilal Shahid Logistics P.V. T - L.T.D

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This license certifies that its holder has registered his Iher company in accordance with the Private
.Investment Law of Afghanistan, and operates in accordance with Laws of Afghanistan.

Date of Issue / ),..\.0 ~);

07.06.2010j 17.03.1389

Valid Date: 5.2.1389 - 4.2.1390

Grant of License: This License constitutes an agreement between an 01 .rL...1~ 6 L-.tl ~~ j o~)p..::...,..;.J 01.,.0...::.......1
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approved enterprise and AISA, pursuant to which, the approved )~ Jlo j ..})~ ~I} .l-L...j ~ )IZ <l.!lo
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enterprise may operate in the field specified, in accordance with the
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Investment Law and other commercial and financial legislation.

Obligation of License Holder: the holder of the license shall be obliged ~)~ c.J)~":;;1).)..0 j ~I} , I.S""L...I
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to comply with the Constitution, Law and Regulations of the Islamic
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Republic of Afghanistan. In case of any violation, AISA may terminate,
confiscate, suspend, amend, nullify, invalidate or redistribute the license. .~W Cj)j ;~J.,:...o 4 )l,....11os!,j.b4, C')l....,1 'I.-.,w'O)~~ ,jAll) )Iy.

Prohibitions and Restrictions: Investment shall be prohibited in the

field of nuclear energy, establishment of casinos, or similar ) ~\;o'-)W...,.."...,\J, ~y.-.Jo ~))I ~IA 4..i>y)~ ~)Z <l.!lor' :~~J~ y,:..~.,......
establishments, production of drugs (narcotics) or other intoxicants, or ~.r.IT- 0jl!)~ 6 JW1.l-L... J )JI ~ ~Iy.l-L... j),.J..,V ~Iy -4j J 01 "-!L.;.....:;;~
other acts deemed a crime by the Penal Code. Investment in the fields of ~Iy ) ..:;;l..t- ' ~I ,.f j} j J..,I j ~IA 4..i> Y )~~)Z <l.!lo
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production and sale of weapons, ammunition and explosive, non-
banking finance activities, insurance activities, natural resources and J~ ~ .1-) ) ~ t!l:.o , .s ~ ~IA c."lw , ..fJ'u..r.f Jlo ~IA c."lw , ....w.:..
Infrastructure, including telecommunication facilities, pipeline .~y J"i.>'- ~I} t!\J , .:r.~4 ~ ) 0~L... , ..}If.\,;..o ul-"...>\J
construction and erection shall be subject to special (relevant) laws.

Reporting: A license holder shall be obliged to notify AISA of any .r)~1 , <l.!lo
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change in its ownership, capital structure, or contribution of additional f. L-.tl ~~ t')\bl "-! I) 01 ~
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capital, address and structure of the company, commencement or delay
in activities of the company and the reasons therefore. In addition, s/he
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shall submit the companies' annual report within 90 days ofthe end of the (Ijy. <U f-I JI J- c.f. J)I jI ).·~w JL...) L-.tl ~~

fiscal year to AISA (from 21 st of March until 20 of June).

No Liability: AISA and its branches shall have no liability to any person,
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including a license holder, to compensate losses/damages which ~)~ U)l...>'- ,~)~ J:,W 4 oW) , ~~\A.oU)l...>'- Jol.!><'::"'!'~J~ 0)~ 6 ~I..u
includes without limitation, loss of profit, delay or suspension of ~~lo 04) 4 ..:.J~~ "-! .j~1..ai ul)l...>'- ) IA ..\.o~ , ))1 04) ~~I , U)~ ~.;t
employment, losses in formation of business, harmful reliance (sic),
consequential or incidental damage to a third person or any other
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material loss. In addition, nothing in this License shall be regarded as a .~~.f ~ ~ ).rP 01r.:- ..h~Jt.S:..;,14 J ~ 01p ~ ji>; ~ jly. d-)~ 0~
guarantee or any other form of compensation for damages/Losses.

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20,000US$':":'1~OOO;OOOAfs""""""'" :erJ ~ ~ J..I.t1y ~
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