In consideration of a new build high speed ferry option

These options are based around the demand shortfall we see in the industry as the second hand market has low
choice currently as a result of reduced build activity in the last 10 years.
The designer has significant technical capacity to meet yard build deadlines important in mitigating delivery
risk and hence an additional cost passed on to the buyer.

Recent and current programs have demonstrated the impact of delayed delivery, so that when taken into account
with a lower initial contracted build cost, have significantly added (sometimes as much as 20%)
to the final cost to build. This risk is material if considered in the RFT stage when comparing
tendered options.

The options offered have the following general characteristics:
1. 150-200 passengers, cruise speeds 24/25, 28/30 knots, > 30 knots
2. 200-300 passengers, cruise speeds 24/25, 28/30 knots, > 30 knots
3. 300-400 passengers, cruise speeds 24/25, 28/30 knots, > 30 knots
Other proven designs are also available in low wash forms and offshore work vessels.

These specifications have been built by the yard and with the AUD$ low currently, an initial package
can be offered. Classed, HSC compliant or domestic standards are possible to meet the minimum acceptable
requirements of any flag state and we believe these options will show their value during realistic
purchase risk assessments at tender stage.
We can provide an indicative build schedule, specification, GA and initial price to build
(subject to final requirements) and assist refinement to a fixed priced contract.

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