Common use of Summarised Forecast Financial Statements Clause in Contracts

Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Airways Limited is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's REVENUE 72,513,978 68,688,749 OPERATING EXPENSES 72,496,231 74,740,237 NET SURPLUS/DEFICIT 17,746 -6,046,912 BALANCE SHEET AS AT JUNE 2014 $ 000's AS AT JUNE 2013 $ 000's ASSETS 22,089,210 21,043,145 LIABILITIES 75,632,858 79,704,539 NET WORTH -53,543,648 -58,661,394 STATEMENT OF CASH FLOW 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES 2,158,860 4,166,945 CASH FLOWS FROM INVESTING ACTIVIITES -3,766,140 -2,494,293 CASH FLOWS FROM FINANCING ACTIVIITES 1,262,988 5,825,480 Detailed below is information about specific financial transaction required to be included in the Ownership Agreement by the Public Management and Finance Law (2012 Revision). TRANSACTION AMOUNT FOR 2013/14 $ Equity Investments into Cayman Airways Limited 1,600,000 Capital Withdrawals from Cayman Airways Limited. 0 Dividend or Profit Distributions to be made by Cayman Airways Limited. 0 Government Loans to be made to Cayman Airways Limited. 0 Government Guarantees to be issued in relation to Cayman Airways Limited. Up to CI$19M for CIG approved borrowing to address informal debt (possible) Related Party Payments (Non Remuneration) made to Key Management Personnel 0 Remuneration payments made to key Management Personnel 728,000 Remuneration Payments made to Senior Management 1,280,000 NUMBER FOR 2013/14 Number of Key Management Personnel 9 Number of Senior Management 14

Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Airways Limited is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2013/14 2014/15 TARGET $ 000's 2012/13 2013/14 FORECAST $ 000's REVENUE 72,513,978 68,688,749 73,917,378 72,172,149 OPERATING EXPENSES 72,496,231 74,740,237 -73,906,814 -74,617,190 NET SURPLUS/DEFICIT 17,746 -6,046,912 10,564 -2,445,041 BALANCE SHEET AS AT JUNE 2015 $ 000's AS AT JUNE 2014 $ 000's AS AT JUNE 2013 $ 000's ASSETS 22,089,210 21,043,145 21,303,673 20,522,105 LIABILITIES 75,632,858 79,704,539 72,449,544 76,528,540 NET WORTH -53,543,648 -58,661,394 -51,145,871 -56,006,435 STATEMENT OF CASH FLOW 2013/14 2014/15 TARGET $ 000's 2012/13 2013/14 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES 2,158,860 4,166,945 2,773,876 3,580,438 CASH FLOWS FROM INVESTING ACTIVIITES -3,766,140 -2,494,293 -1,500,526 -372,055 CASH FLOWS FROM FINANCING ACTIVIITES 1,262,988 5,825,480 223,280 -2,038,709 Detailed below is information about specific financial transaction required to be included in the Ownership Agreement by the Public Management and Finance Law (2012 2013 Revision). TRANSACTION AMOUNT FOR 2013/14 2014/15 $ Equity Investments into Cayman Airways Limited 1,600,000 4,850,000 Capital Withdrawals from Cayman Airways Limited. 0 Dividend or Profit Distributions to be made by Cayman Airways Limited. 0 Government Loans to be made to Cayman Airways Limited. 0 Government Guarantees to be issued in relation to Cayman Airways Limited. Up to CI$19M for CIG approved borrowing to address informal debt (possible) Related Party Payments (Non Remuneration) made to Key Management Personnel 0 Remuneration payments made to key Management Personnel 728,000 0 Remuneration Payments made to Senior Management 1,280,000 NUMBER FOR 2013/14 2014/15 Number of Key Management Personnel 9 6 Number of Senior Management 14

Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Airways Limited Islands Development Bank is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2013/14 2014/15 TARGET $ 000's 2012/13 2013/14 FORECAST $ 000's REVENUE 72,513,978 68,688,749 3,015,058 3,205,731 OPERATING EXPENSES 72,496,231 74,740,237 3,025,946 3,315,751 NET SURPLUS/DEFICIT 17,746 -6,046,912 (10,888) (110,020) BALANCE SHEET AS AT JUNE 2015 $ 000's AS AT JUNE 2014 $ 000's AS AT JUNE 2013 $ 000's ASSETS 22,089,210 21,043,145 44,,500,627 43,288,800 LIABILITIES 75,632,858 79,704,539 37,850,673 38,127,958 NET WORTH -53,543,648 -58,661,394 6,649,954 5,160,842 STATEMENT OF CASH FLOW 2013/14 2014/15 TARGET $ 000's 2012/13 2013/14 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES 2,158,860 4,166,945 1,083,088 1,118,826 CASH FLOWS FROM INVESTING ACTIVIITES -3,766,140 -2,494,293 (15,546) (546) CASH FLOWS FROM FINANCING ACTIVIITES 1,262,988 5,825,480 1,188,434 1,110,541 Detailed below is information about specific financial transaction required to be included in the Ownership Agreement by the Public Management and Finance Law (2012 2013 Revision). TRANSACTION AMOUNT FOR 2013/14 2014/15 $ Equity Investments into the Cayman Airways Limited 1,600,000 Islands Development Bank 1,500,000 Capital Withdrawals from the Cayman Airways Limited. 0 Islands Development Bank - Dividend or Profit Distributions to be made by the Cayman Airways Limited. 0 Islands Development Bank - Government Loans to be made to the Cayman Airways LimitedIslands Development Bank. 0 - Government Guarantees to be issued in relation to the Cayman Airways LimitedIslands Development Bank. Up to CI$19M for CIG approved borrowing to address informal debt (possible) 34,727,440 Related Party Payments (Non Remuneration) made to Key Management Personnel 0 Remuneration payments Personnel3 - Remuneration4 Payments made to key Key Management Personnel 728,000 435,600 Remuneration Payments made to Senior Management 1,280,000 (MD) 372,000 DESCRIPTION NUMBERS FOR 2014/15 $ NUMBER FOR 2013/14 Number of OF KEY MANAGEMENT PERSONNEL (BOARD) 5 NUMBER OF KEY SENIOR MANAGEMENT (MD) 4 3 Key Management Personnel 9 Number of as defined by International Public Accounting Standards No 20, e.g. Minister, Board Member and Senior Management 14Team 4 Remuneration as defined by International Public Accounting Standards No 20 Par 34(a)

Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Airways Limited Islands Airports Authority is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's REVENUE 72,513,978 68,688,749 26,934,463 26,081,669 OPERATING EXPENSES 72,496,231 74,740,237 21,976413 21,036,027 NET SURPLUS/DEFICIT 17,746 -6,046,912 4,958,051 5,045,642 BALANCE SHEET AS AT JUNE 2014 $ 000's AS AT JUNE 2013 $ 000's ASSETS 22,089,210 21,043,145 76,165,580 73,993,935 LIABILITIES 75,632,858 79,704,539 11,511,947 10,152,724 NET WORTH -53,543,648 -58,661,394 64,653,633 63,841,211 STATEMENT OF CASH FLOW 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES 2,158,860 4,166,945 76,165,580 73,993,935 CASH FLOWS FROM INVESTING ACTIVIITES -3,766,140 -2,494,293 11,511,947 10,152,724 CASH FLOWS FROM FINANCING ACTIVIITES 1,262,988 5,825,480 64,653,633 63,841,211 Detailed below is information about specific financial transaction required to be included in the Ownership Agreement by the Public Management and Finance Law (2012 Revision). TRANSACTION AMOUNT FOR 2013/14 $ Equity Investments into Cayman Airways Limited 1,600,000 CIAA $0 Capital Withdrawals from Cayman Airways Limited. CIAA $0 Dividend or Profit Distributions to be made by Cayman Airways LimitedCIAA. $0 Government Loans to be made to Cayman Airways LimitedCIAA. $0 Government Guarantees to be issued in relation to Cayman Airways Limited. Up to CI$19M for CIG approved borrowing to address informal debt (possible) CIAA $0 Related Party Payments (Non Remuneration) made to Key Management Personnel Personnel1 $0 Remuneration payments Remuneration2 Payments made to key Key Management Personnel 728,000 $1,047,152 Remuneration Payments made to Senior Management 1,280,000 NUMBER $1,032,872 DESCRIPTION NUMBERS FOR 2013/14 Number of NUMBER OF KEY MANAGEMENT PERSONNEL 20 NUMBER OF KEY SENIOR MANAGEMENT 9 1 Key Management Personnel 9 Number of as defined by International Public Accounting Standards No 20, eg Minister, Board Member and Senior Management 14Team 2 Remuneration as defined by International Public Accounting Standards No 20 Par 34(a)

Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Airways Limited Islands Airport Authority is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's REVENUE 72,513,978 68,688,749 26,934,463 26,081,669 OPERATING EXPENSES 72,496,231 74,740,237 21,976413 21,036,027 NET SURPLUS/DEFICIT 17,746 -6,046,912 4,958,051 5,045,642 BALANCE SHEET AS AT JUNE 2014 $ 000's AS AT JUNE 2013 $ 000's ASSETS 22,089,210 21,043,145 76,165,580 73,993,935 LIABILITIES 75,632,858 79,704,539 11,511,947 10,152,724 NET WORTH -53,543,648 -58,661,394 64,653,633 63,841,211 STATEMENT OF CASH FLOW 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES 2,158,860 4,166,945 76,165,580 73,993,935 CASH FLOWS FROM INVESTING ACTIVIITES -3,766,140 -2,494,293 11,511,947 10,152,724 CASH FLOWS FROM FINANCING ACTIVIITES 1,262,988 5,825,480 64,653,633 63,841,211 Detailed below is information about specific financial transaction required to be included in the Ownership Agreement by the Public Management and Finance Law (2012 Revision). TRANSACTION AMOUNT FOR 2013/14 $ Equity Investments into Cayman Airways Limited 1,600,000 CIAA $0 Capital Withdrawals from Cayman Airways Limited. CIAA $0 Dividend or Profit Distributions to be made by Cayman Airways LimitedCIAA. $0 Government Loans to be made to Cayman Airways LimitedCIAA. $0 Government Guarantees to be issued in relation to Cayman Airways Limited. Up to CI$19M for CIG approved borrowing to address informal debt (possible) CIAA $0 Related Party Payments (Non Remuneration) made to Key Management Personnel Personnel1 $0 Remuneration payments Remuneration2 Payments made to key Key Management Personnel 728,000 $1,047,152 Remuneration Payments made to Senior Management 1,280,000 NUMBER $1,032,872 DESCRIPTION NUMBERS FOR 2013/14 Number of NUMBER OF KEY MANAGEMENT PERSONNEL 20 NUMBER OF KEY SENIOR MANAGEMENT 9 1 Key Management Personnel 9 Number of as defined by International Public Accounting Standards No 20, eg Minister, Board Member and Senior Management 14Team 2 Remuneration as defined by International Public Accounting Standards No 20 Par 34(a)