Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and Toll Holdings Limited

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Toll Holdings Limited
(“Toll”), an international freight forwarding and logistics company headquartered in Melbourne, Australia. Toll agreed to remit $6,131,855 to settle its
potential civil liability for 2,958 apparent violations of the Iranian Transactions and Sanctions Regulations, the North Korea Sanctions Regulations, the
Syrian Sanctions Regulations, the Weapons of Mass Destruction Proliferators Sanctions Regulations, and the Global Terrorism Sanctions Regulations.
The apparent violations occurred when Toll originated or received payments through the U.S. financial system involving sanctioned jurisdictions and persons.
These payments were in connection with sea, air, and rail shipments conducted by Toll, its affiliates, or suppliers to, from, or through the Democratic
People’s Republic of Korea, Iran, or Syria, or the property or interests in property of an entity on OFAC’s list of Specially Designated Nationals and
Blocked Persons. The settlement amount reflects OFAC’s determination that Toll’s apparent violations were non-egregious and voluntarily self-disclosed.

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