Shareholdings

*Extracted from Offer Document

OWNERSHIP STRUCTURE

Our Shareholders and their respective shareholdings immediately before and after the Invitation are set out below:

Notes:

1. Tan Sri Dato' Hari N. Govindasamy is the spouse of Puan Sri Vimala d/o J. Govindasamy. He is therefore deemed interested in the 31,071,000 Shares she holds in the issued share capital of our Company.

2. Janice Crawford and Christine Munro are sisters and the daughters of Tom Cooper. Tom Cooper (deceased) was one of the original investors in IEV Australia. Janice Crawford and Christine Munro are the beneficial owners of Permbrook Pty Limited and Crogar Pty Limited, and are therefore deemed interested in the 7,524,000 Shares and 7,230,000 Shares that Permbrook Pty Limited and Crogar Pty Limited hold in the issued share capital of our Company respectively.

3. Christine Munro is the spouse of Verne Alexander Munro. Christine Munro and Verne Alexander Munro are the beneficial owners of Muwori Pty Limited and they are therefore deemed interested in the 7,230,000 Shares in the issued share capital of our Company held by Muwori Pty Limited.

4. Janice Crawford is the spouse of Douglas Crawford. Janice Crawford and Douglas Crawford are the beneficial owners of Muvusi Pty Limited and they are therefore deemed interested in the 7,230,000 Shares in the issued share capital of our Company held by Muvusi Pty Limited.

5. Khiem Trong Do is the brother of our President and CEO, Christopher Do.

6. Tran Thi Mai Thao is the spouse of our President and CEO, Christopher Do. Christopher Do is deemed interested in the 1,736,000 Shares in the issued share capital of our Company held by Tran Thi Mai Thao.

7. Morteza Houshmand, Cheng Chee Song and Chong Teck Eng were engaged by our Group to conduct feasibility studies and develop business plans for our Group's Mobile Natural Gas Sector in Indonesia and Vietnam. As consideration for their services, the then existing shareholders of IEV Group (Malaysia), namely, MGC Holdings Limited, Crogar Pty Limited, Muwori Pty Limited, Joanne Bruce, Christopher Do, Nigel Thomson, Permbrook Pty Limited, Muvusi Pty Limited, Juzer Nomanbhoy, Rozia Hanis Binti Tun Hussein, Puan Sri Vimala d/o J. Govindasamy and Khiem Trong Do, transferred an aggregate of approximately 2.4% of the issued share capital of IEV Group (Malaysia), to Morteza Houshmand and Cheng Chee Song in 2006. Morteza Houshmand then transferred part of his shareholding to Chong Teck Eng in 2008. Pursuant to the Restructuring Exercise, Morteza Houshmand, Cheng Chee Song and Chong Teck Eng became Shareholders of our Company.

8. On 23 August 2007, AmPrivate Equity entered into a subscription agreement ("Subscription Agreement") with IEV Energy and IEV Group (Malaysia), pursuant to which AmPrivate Equity agreed to subscribe for 10,025,000 RCPS for RM10,025,000. The proceeds were used for capital expenditure financing of our mobile natural gas business. On 1 October 2007, the parties to the Subscription Agreement also entered into a shareholders' agreement to regulate the relationship between AmPrivate Equity and IEV Group (Malaysia) and certain aspects of the affairs and their dealings with IEV Energy.

   Pursuant to the Subscription Agreement, AmPrivate Equity shall have the option of requiring IEV Energy to redeem the RCPS at any time upon the occurrence of an event of default, or if the listing of IEV Energy on a recognised stock exchange does not materialise within three years commencing from the date of the first payment of the whole or any part of the subscription price to IEV Energy. The redemption price would be the subscription price for each RCPS redeemed together with a redemption premium being the compounded rate of returns on the subscription price to AmPrivate Equity calculated at a sum equivalent to 10.0% per annum on a yearly rest basis for the period from the date AmPrivate Equity pays the subscription price until the date of redemption of the RCPS.

   On 28 April 2011, the parties to the Subscription Agreement entered into a supplemental agreement ("Supplemental Agreement") under which, inter alia, the time for redemption of the RCPS was extended to enable IEV Energy and IEV Group (Malaysia) to take the necessary steps to achieve the proposed listing of our Company on or before 30 September 2011. Pursuant to the Supplemental Agreement and a letter dated 5 August 2011, IEV Group (Malaysia) acquired the RCPS from AmPrivate Equity which in turn received as consideration 22,706,000 Shares.

   AmPrivate Equity is 80.0% ultimately owned by AMMB Holdings Berhad which wholly owns AmFraser Securities Pte. Ltd. (our Sub-Placement Agent) and AmBank (our Principal Banker).

9. Joanne Bruce, Vinh Quang Le, Ronald Menon and Kelvin Miranda's shares in IEV Group (Malaysia) were originally held on trust by our President and CEO, Christopher Do. The trust arrangements with Joanne Bruce, Ronald Menon and Kelvin Miranda were revoked on 2 August 2011. The trust arrangement with Vinh Quang Le was revoked on 10 August 2011. Pursuant to the Restructuring Exercise, Joanne Bruce, Vinh Quang Le, Ronald Menon and Kelvin Miranda became Shareholders of our Company.

10. Pursuant to the Management Agreement and as part payment of Collins Stewart's fees as the Sponsor and Placement Agent in respect of the Invitation, our Company issued and allotted 500,000 Placement Shares to Collins Stewart Europe Limited at the Issue Price for each Share, representing 0.3% of our Company's post-Invitation share capital.

11. Our Executive Officer, Juzer Nomanbhoy, intends to subscribe for 200,000 Placement Shares in the Invitation.