The mobilization advance.

1. Parties. This Agreement is between (1) Modern Lao Sole Co., Ltd. trading as Modern Lao Homes ("MLH"), acting by its Managing Director; and (2) Mr. Cameron Stovold and Ms. Sunny Stovold (together, the "Client"), of the address shown in the Parties block above.

2. Recitals. (A) MLH has completed the 35-sheet Stovold Drawing Set (Option 2 Rev A) under the Design Agreement dated 08 May 2026, and the Client paid the Design Fee of USD 3,000.00 on 12 May 2026 in full. (B) The Client is beneficial owner of the Site (Lot D2 Linda Land, Ban Nongviengkham, Dongdok, Vientiane Capital). (C) The Parties intend to enter a full Construction Contract, the sum for which is being finalised by a certified engineer in the Bill of Quantities. (D) Both Parties wish to commence preparatory site works without delay in advance of that contract being executed.

3. A pre-construction advance. This Agreement is not the Construction Contract and does not constitute a construction contract, a letter of intent, or any commitment by either Party to the full construction works. Nothing here confers on either Party the right to demand or enforce performance of the Construction Contract on any terms not separately agreed in writing.

4. Purpose. This Agreement (a) authorises and records the Advance Mobilisation Payment and its application to the Mobilisation Works; (b) confirms that the Advance Mobilisation Payment forms part of, and is credited in full against, the first draw of the Construction Contract; (c) records that the construction draw schedule is set out in the Construction Contract; and (d) records the Client's investment in the Project to date, including the Design Fee paid and the Design Fee Credit to be applied.

5. Amount. The Client shall pay MLH the Advance Mobilisation Payment of USD 9,838.10 (Nine Thousand Eight Hundred and Thirty-Eight United States Dollars and Ten Cents), representing five percent (5%) of the construction contract sum. This is the ceiling for the pre-construction phase. MLH shall not request any additional amount under this Agreement or as a condition of commencing the Mobilisation Works.

6. Payment mechanics. Payment is made in United States Dollars by bank transfer to the account in Schedule A. No cash payments are accepted. Payment is due upon execution of this Agreement. The Client shall quote the payment reference MLH-CMA-2026-001 on all transfer instructions and send proof of transfer to clients@modernlaohomes.com on the day of transfer. Outward charges are borne by the Client; receiving bank charges within Lao PDR are borne by MLH.

7. Receipt. Within twenty-four (24) hours of clearance, MLH shall issue a written receipt confirming the amount received, the date, the payment reference, and that the funds are held to be applied to the Mobilisation Works and credited against the first draw of the Construction Contract.

8. Credited in full. The Advance Mobilisation Payment is credited in full against the first draw of the Construction Contract on execution of that contract. That draw is then recorded as paid and satisfied, no further sum is due from the Client in respect of it, and nothing in this Agreement or the Construction Contract requires the Client to pay twice for the advance.

9. Design Fee Credit. A Design Fee Credit of USD 1,200.00 from the design contract is applied toward the build, reducing the net cash payable. The Construction Contract states, on its face, how the credit is applied, preferably as a deduction from an early construction draw.

10. Funded scope. The advance funds only the Mobilisation Works described in Schedule B: site camp and compound; site clearing and grubbing; access track formation; drainage preparation; imported fill of 250 to 270 cubic metres; well drill at the back-left corner; EDL electricity connection; licensed surveyor setting-out; and building permit application fees and administration. The Mobilisation Works do not include any structural works, foundations, or works forming part of the main construction scope.

11. Scope restriction. MLH shall not commence or commit to any expenditure outside Schedule B scope without the Client's prior written approval. Any variation is recorded in writing signed by both Parties before expenditure is committed. Any saving within the Mobilisation Works scope is credited against the next construction draw.

12. MLH commitments on cleared funds. Within five (5) business days of receipt, MLH shall (a) confirm a commencement date in writing; (b) deploy a site supervisor to begin clearing and access track works; (c) commence the building licence application; (d) provide receipts or accepted quotations for each expenditure within seven (7) days of each commitment; and (e) provide written progress updates every two (2) weeks through to execution of the Construction Contract.

13. Building licence status. As at the Effective Date, the Site does not hold full (gold) land title (chanot). The building permit application cannot be lodged with MPWT until full title is in hand and the Drawings are completed to the required standard. The Mobilisation Works, items (a) to (h) in Clause 10, do not require a building licence under current Vientiane Capital MPWT practice and may proceed immediately on cleared funds. MLH makes no representation that the licence will be granted by any particular date. The Client acknowledges this and agrees it is not a basis for termination or refund unless the triggers in Clause 15 apply.

14. Spend records. MLH shall maintain complete records of all expenditure committed and incurred on the Mobilisation Works, including original supplier invoices, bank transfer records, cash receipts, and accepted quotations, so the Client can verify at any time the total spent and the unspent balance. MLH shall not retain any portion of the advance on the basis of lost profits, anticipated overhead, management time, or any head of claim that is not actual, receipted expenditure. This Agreement confers no right to treat any portion of the advance as a non-refundable deposit.

15. Refund triggers. Each of the following entitles the Client to require the return of all unspent advance funds within ninety (90) business days of written notice:

• Building Licence Denial. MPWT formally refuses to issue the building licence for the Residence on the Site, at any time.
• Building Licence Delay, 12-week trigger. The application has been lodged and the licence has not issued within twelve (12) weeks of lodgement. MLH's right to retain receipted expenditure incurred before the notice is preserved.
• MLH Failure to Commence, 90-day trigger. MLH has not commenced structural construction works within ninety (90) days of the agreed construction commencement date.
• Client Cancellation. The Client elects not to proceed before structural works commence; MLH retains receipted expenditure only and returns the balance within ninety (90) business days.
• MLH Inability to Proceed. If MLH is unable or unwilling to proceed for any reason attributable to MLH, the Client is entitled to a full refund of the entire advance, including all receipted expenditure, within ninety (90) business days of written notice.

If construction does not proceed, any unspent mobilisation funds are returned promptly. Where costs have already been committed on your behalf, permits lodged, materials ordered, surveyor booked, those receipted costs are deducted and the remainder refunded. No cash is retained without a receipt or bank reconciliation, and you will never be asked to absorb a cost that has not been incurred.

16. Drawings and IP. The Drawings remain MLH's intellectual property until the Construction Contract is executed and all amounts due under it are paid in full. The Client has a non-exclusive licence to use the Drawings solely to obtain the building licence and commence the Construction Contract with MLH, and shall not use them to obtain quotes from, or instruct, any third-party builder without MLH's prior written consent. On full payment of all amounts due under the Construction Contract, all proprietary rights in the Drawings as embodied in the completed Residence pass to the Client.

17. Insurance. From first site attendance, MLH shall maintain (a) public liability insurance of not less than USD 500,000 per occurrence, covering injury to persons and damage to property arising from the Mobilisation Works; and (b) workers' compensation insurance in accordance with Lao law for all workers on Site. Certificates are available on request.

18. Force majeure. Neither Party is liable for failure or delay caused by events beyond their reasonable control, including acts of God, flood, earthquake, fire, pandemic, war, civil disturbance, or government action. The affected Party shall give written notice as soon as practicable. Timeline obligations, including the 12-week and 90-day triggers, are extended by the duration of the event, provided notice is given within fourteen (14) days. If an event continues for more than ninety (90) days, either Party may terminate on fourteen (14) days' written notice, and the refund provisions in Clause 15 apply.

19. Governing law. This Agreement is governed by the laws of the Lao People's Democratic Republic, including the Civil Code 2020 (No. 55/NA) and the Contract and Tort Law 2008 (No. 01/NA).

20. Dispute resolution. The Parties shall first attempt to resolve any dispute amicably within thirty (30) days of written notice. Failing that, the dispute is referred to the Centre for Economic Dispute Resolution (CEDR) of the Lao National Chamber of Commerce and Industry for mediation, and if mediation is unsuccessful within sixty (60) days, to binding arbitration administered by CEDR under its rules. The seat is Vientiane, the language is English with Lao translation where required by law, and the decision is final and binding.

21. Entire agreement. This Agreement, with its Schedules, is the entire understanding between the Parties on the Advance Mobilisation Payment and the Mobilisation Works. It does not supersede the Design Agreement dated 08 May 2026, which remains in full force. No amendment is effective unless made in writing and signed by both Parties.