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Page 1: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 2: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 3: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 4: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 5: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 6: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 7: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 8: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 9: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 10: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 11: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 12: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 13: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 14: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 15: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 16: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 17: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 18: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 19: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 20: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 21: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 22: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 23: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 24: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 25: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 26: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 27: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 28: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 29: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 30: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 31: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 32: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 33: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 34: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 35: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 36: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 37: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 38: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 39: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 40: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 41: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 42: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 43: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

Page 44: Royal Securities Exchange of Bhutanto the securities offered by this prospectus as required by the Companies Act of Bhutan 2016 and the regulations there under. Prospective investors

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