1 Table of Contents 1 Table of Contents 1 1.1 List of Tables 2 1.2 List of Figures 2 2 Regime Overview 3 3 State Take Assessment 5 4 Key Fiscal Terms 6 4.1 Upfront Payments 6 4.1.1 Signature Bonus 6 4.1.2 Royalty 6 4.2 Cost Recovery 6 4.2.1 Limit on Recovery 6 4.2.2 Recoverable Costs 6 4.3 Profit-Sharing 6 4.4 Direct Taxation 7 4.4.1 Corporate Income Tax 7 4.4.2 Deductions and Depreciation 7 4.4.3 Withholding Tax 7 4.5 Indirect Taxation 7 4.5.1 VAT 7 4.5.2 Import Duties 7 4.6 State Participating Interest 7 5 Regulation and Licensing 8 5.1 Legal Framework 8 5.1.1 Governing Law 8 5.1.2 Contract Type 8 5.1.3 Title to Hydrocarbons 8 5.2 Institutional Framework 9 5.2.1 Licensing Authority 9 5.2.2 Regulatory Agency 9 5.2.3 National Oil Company 9 5.3 Licensing Process 9 5.3.1 Open Door Policy 9 5.3.2 Licensing Rounds 10 5.3.3 Qualifications 10 5.3.4 Bidding 10 5.4 License Terms 10 5.4.1 Duration 10 5.4.2 Obligations 11 5.4.3 Relinquishment 11 6 Outlook 12 7 Contact Information 13

1.1 List of Tables Table 1: Summary 3 Table 2: Suriname, Profit Sharing for Block 59 and 60, 2015 6 Table 3: Suriname, Profit Sharing for Block 45, 2015 7 Table 4: Suriname, Minimum Work Program for Block 59 and 60, 2015 10 Table 5: Suriname, Work Obligation Costs for Block 45, 2015 11 Table 6: Suriname, Relinquishments for Block 58, 59 and 60, 2015 11 1.2 List of Figures Figure 1: Regime Flow Chart 4 Figure 2: Suriname, Indicative NPV10/boe, IRR and State Take Comparison - Regional, 2016 5 Figure 3: Suriname, Legal Framework 8 Figure 4: Suriname, Institutional Framework 9