I SLAND

I SLAND G LOBAL ‘UMMINI YACHTING ATTACHMENT H AYH: Financial Projections Island Global Yachtin Ltd. • • Fort Lauderdale, FL 33301 Tel: • Fax: • vAvw.islecap.com EFTA01119818 Acquigiarli Emu 0LN erican Yacht Harb Acquisition Budget Due Diligence feu IGY Acquisition Fee Under Fee Subtotal lag Cosner Grcenburg Traung Deed • Filing Fee Title Insurance - Entionamins Subtotal Physical Studs; ATM Phase ATM - Testing Subtotal $21hG Appraisal Closing Proration Lender Due Diligence Survey Travel Valuation Luna Working Capital Credit to Seller Subtotal Conveyance Tar Total ICY Acquisition Expenses 1.00°4 255O00 1.00!4 90.000 345,000 250® 75.000 100,000 25,000 10000 35,000 20,000 !1875001 (167,500) 108271 428,771 Acquisition Terms AYH 525.500000 Total Purchase Prim 525,500,000 Debt Lender Financing $9,000,000 Less: Total Debt $9,000,000 Net Equity Purchase Price (100% ownership) $16,500,000 Add: IGY Acquisition Expaue 4go 771 Total Acquisition Cost 516.920.771 (11 Buyer and Seller agree to split 50% Based on 7.5°. of building value of 55.193,128 and land value of 5993,81 I. EFTA01119819 0441CVfteliffit 70:1969.414 60010 F il eld14 IAN T KO 1.94. Las =41)An 24 4 111 0971 MAW/ k a Wham Pas Pin (~01 Cm a an in 63% Cap Ilea) LS% ' Loft e Vat 3.9% Tare Ye Lan IRR 6s10 Den ~oft Ite Thu Aust Ifterd ~do Real 74.1.4m span 51( 47000 IA Rase SW antatakand RetLt and Lan Mine Sax Slat U « Ma Rae ta 14.4 Rom • ot toni Sold Tea Gas knew Mend Fad »Onn CAM Itrexamat -On Lam i s l ar ken« RE TratEDC berelkel Dams Coma Tend Aud am= Cas iMR Atar Feal klydrt UR 111511 133,$ »4.613 Mona NIA lap Pat 63% 6l% Ur Mel Fa but Van 1=0 War I Yew 2 1744 3 Var. Yes Yea Ye 7r7 Year II Yee 9 Ve 10 %0 2007 2116 A» »ID All 2011 AU 2014 2015 2016 TR in 21% 1.433,493 1,510417 1317,931 1.05.235 1,744,41.7 1,435322 1,9173 11 202411R 2.120309 3231374 42% 3,517,701 1.7% 903 2.144,341 2.91630 1.10,11.3 3.212.618 3,457,3M 3,6303» 3.111,691 1342.2/3 ii% 303,40 521446 530071 512332 611,9/4 642373 674,701 704,436 743351 711,051 • • 23% 1.440143 1,437 450 1116,964 1,707065 1.1105047 23101,331 2.112.751 2,220.010 7.3/061 2050.966 2% 101.010 »4112 107,2% 110.453 113766 117,115 120695 134,315 13000 131.116 1% 30271 37 WI Ale) 39035 40.104 AM» 43,310 41,6074 433411 47326 2% 46.9211 97136 102201 105.916 109= III.» 115,737 119.209 121.716 124.749 O% 17,914 ;11462 10016 193116 10174 AM 21,02 22.044 72,706 21317 4% 34,2 isiii:;:‘, vglii, .2 ypizav wzi.i ,...r, is:viz , 77;) 0703>in X, 16 7 7 7= ll.n 9.179.7» 46% 2302.»5 2741404 3302,747 3359.275 3.423.941 2633.950 3403271 3.942316 4311.756 4390911 %e4 MIRA 25% 322,711 3311.446 355,779 313375 »2357 411,119 4314463 454017 476,791 30176» 13% 164.517 160433 174,536 119.772 185,166 'gam 196.442 202.3» 171,405 314147 I% 49426 31.321 32400 54.446 34379 31%2 39495 61419 63311 0,011 10% 127411 111427 134.9311 139407 141.17? 147472 131.196 1%453 161,147 10.971 7% 10977 907/3 101.7•0 06.417 111,144 111,9111 124361 131,144 137= 144.411 .15% 11933451 (199454) 1205.41» (2126011 (217.749) (224.441) (231212) (2341510 / 315303) 1152.660 9% 119491 123.179 131374 1».6410 134601 114039 142.7911 4160 131.494 156.0» 3% 63.421 45324 673114 60302 71341 73.523 75.721 74= 110.340 .2.750 1% 14.022 16.502 16.997 17307 1=33 WM 10131 19,705 20.296 20.905 36% 469392 413371 49/372 31231 320192 314107 KAM 377,19.1 394Aft 612319 • • - 2% 28.919 79.714 34677 31391 32.343 33412 34427 35313 3600 37.7» 4% hag laRg LC= Ii 74 3.1% 39% 39% 311% 31% 1.771,36, 1.4= 36% lal 36% 1,751.501 66,202 35'. IA 5.096 64 0.1 35'. 04~. 1.1121: " C 324a 7,441.411 3.4001756 3WIJ 4"2.• 4,7"014 1,537025 4.77=5 Mate 42~0 2.1.17.141 Alai» 1.WF75 =7471 WPM 471, i 20 475.1.9 447.376 410714 499445 574,576 3.736,674 "41744 3,4141114 517 716 716 76% 11% 59% 94% 99% 103% 111% • 31.376141 cash Ph« lam DS 151,Ø 499.309 1134373 1,9692 1.1710744 0110.154 2.794,530 2.137495 &NUN 35413,164 =I an I III 571 1 01 577 1.11132Z 1111,524 I.,11119 1.11132 1.111324 1,111421 1.111414 1.111324 I44% I 5 '3 145% 173. i21.. 1934 216t 2214 2 424 11616 Cab 71•4411« 05 441114 51662 133,176 10.144 1.69.134 1.10.216 1/87412 1.431.50 1.514.342 341/1612 De Pm Don (5311,4111) 7441 Ca Flew 414,314 5420.2 713276 137,144 949 II 1,14/.224 1.1470112 1015367 1514343 18.70452 Ink lapin 676.449 121.126 ISO» 194410 49 072 to m1 - Mina lion 1,109.716 253300 2./9336 403,030 ho ala n loi - Saari la« 50306 1440 1 1,1351.94 ØØ 491. Net Cab 114. "920371) KW% 173,837 123446 3111472 891416 i349316 1317,902 0414,567 1,574342 2470,192 IRR la% littan• so Celly 41% 13% 07% 14% 53% Os% 7.4% A4% 93% abut Pen BPS 116.500:7301 been a De Der Om WI' ante Fee 0%41 Am Ent» KEY Morn ha 364411 373493 1113.120 425.669 447376 475.714 524,576 550.7a4 577744 011 Cash la (111016) 113,126 325.646 511372 471,416 1,147276 1.237.0/2 1.425,561 I374,542 21.773.132 Sti Cahn" 06,465.7711 214.347 M7.116 5/4744 1.471I72 1,139,1/2 0624041 1,714,047 1.959.144 2,11314 13439. $ ICY IRR AM 14.4.7 an Ray 24% 3.4% 3.2% IA% 44% 94% 107% 11.7% 121% 3 1 It, EFTA01119820 -riff! ! I II jif f i — i lifigiffiffiligillifiliffiliff01111/1111111ifiliff li tiThEfflEY i s lb il i I 1.1 11 1 lilllibilll IIIII I iii i t 'r ill I I III 1 I 1 I il l Hi if II I l in bit li ti iiiiili f II1 VII ILI l iii I i fli 111 PPP 41 I€i l I I i i , { rill ' j H. 1 " ; a J I I i i i i ii ; u 1 I li i i 11. I i ; l i lt I I 1 { i I I, I Ii i i iiii i i i i i !! riMil Al i i . IiitliPliiiilli h h r. 4 il i li 1 Iiii I 1 1 i i 1 i inl i hi UMW I I il 1! 0 i MI i IR iiii I l i I Hi I ill i§lii x § nil Ii i ii 1111 1 I i i i i EFTA01119821