Common use of SEGMENT INFORMATION Clause in Contracts

SEGMENT INFORMATION. The Company’s Chief Executive Officer (chief operating decision maker) reviews the financial information in order to make decisions about resources to be allocated to the segment and to assess its performance. No operating segment identified by the Board of Directors has been aggregated in arriving at the reporting segments of the Company. For management’s purpose, the Company has only one reportable operating segment, which is the coal division. The division is principally engaged in coal mining, development and exploration in Mongolia, and logistics and trading of coal in Mongolia and China for the years ended December 31, 2021 and 2020. The Company’s resources are integrated and as a result, no discrete operating segment financial information is available. Since this is the only reportable and operating segment of the Company, no further analysis thereof is presented. All the revenue of the Company is generated from trading of coal for the years ended December 31, 2021 and 2020. During the years ended December 31, 2021 and 2020, the Coal Division had 22 and 14 active customers, respectively. 3 customers with respective revenues contributed over 10% of the total revenue during the year ended December 31, 2021 and 2020, with the largest customer accounting for 35% of revenues (2020: 26%), the second largest customer accounting for 17% of revenues (2020: 18%) and the third largest customer accounting for 10% of revenues (2020: 15%).

SEGMENT INFORMATION. The Company’s Chief Executive Officer (chief operating decision maker) reviews the financial information in order to make decisions about resources to be allocated to the segment and to assess its performance. No operating segment identified by the Board of Directors has been aggregated in arriving at the reporting segments of the Company. For management’s purpose, the Company has only one reportable operating segment, which is the coal division. The division is principally engaged in coal mining, development and exploration in Mongolia, and logistics and trading of coal in Mongolia and China for the years ended December 31, 2021 2020 and 20202019. The Company’s resources are integrated and as a result, no discrete operating segment financial information is available. Since this is the only reportable and operating segment of the Company, no further analysis thereof is presented. All the revenue of the Company is generated from trading of coal for the years ended December 31, 2021 2020 and 20202019. During the years ended December 31, 2021 2020 and 20202019, the Coal Division had 22 14 and 14 13 active customers, respectively. 3 4 customers with respective revenues contributed over 10% of the total revenue during the year ended December 31, 2021 2020 and 20202019, with the largest customer accounting for 3526% of revenues (20202019: 2642%), the second largest customer accounting for 1718% of revenues (20202019: 1836%) and ), the third largest customer accounting for 1015% of revenues (20202019: 159%) and the fourth largest customer accounting for 12% of revenues (2019: 6%).

SEGMENT INFORMATION. The Company’s Chief Executive Officer (chief operating decision maker) reviews the financial information in order to make decisions about resources to be allocated to the segment and to assess its performance. No operating segment identified by the Board of Directors has been aggregated in arriving at the reporting segments of the Company. For management’s purpose, the Company has only one reportable operating segment, which is the coal division. The division is principally engaged in coal mining, development and exploration in Mongolia, and logistics and trading of coal in Mongolia and China for the years ended December 31, 2021 and 2020. The Company’s resources are integrated and as a result, no discrete operating segment financial information is available. Since this is the only reportable and operating segment of the Company, no further analysis thereof is presented. All the revenue of the Company is generated from trading of coal for the years ended December 31, 2021 and 2020. During the years ended December 31, 2021 and 2020, the Coal Division had 22 and 14 active customers, respectively. 3 and 4 customers with respective revenues contributed over 10% of the total revenue during the year years ended December 31, 2021 and 2020, with the largest customer accounting for 35% of revenues (2020: 26%), the second largest customer accounting for 17% of revenues (2020: 18%) and the third largest customer accounting for 10% of revenues (2020: 15%).