UKEF local counsel for Brazilian judicial reorganisation proceeding

This contract is for the appointment of Varella & Advogados Associados (the "VLAW") as UKEF's local counsel in Brazil in respect of a judicial reorganisation proceeding of TSL - Engenharia, Manutenção e Preservação Ambiental S.A. ("TSL") in Brazil. VLAW will receive the success fees of 15% of any amounts received by UKEF in connection with the repayment of the TSL's loan.