Common use of Summarised Forecast Financial Statements Clause in Contracts

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2009/10 Budget $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 Operating Expenses 17,950,000 15,532,347 Net Surplus/Deficit 0 246,511 Balance Sheet As at 30 June 2010 Budget $ As at 30 June 2009 Forecast $ Assets 106,333,757 115,063,172 Liabilities 86,000,000 84,669,308 Net Worth 20,333,757 30,393,864 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 (1,060,476) Net cash flows from investing activities (4,119,689) (594,778) Net cash flows from financing activities (10,023,733) 3,976,716

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 Budget 2004/5 $ 2008/9 Estimated Actual 2003/4 $ Revenue 17,950,000 15,778,858 1,833,537 1,145,304 Operating Expenses 17,950,000 15,532,347 1,709,110 990,024 Net Surplus/Deficit 0 246,511 124,427 155,280 Balance Sheet As at 30 June 2010 Budget 2005 $ As at 30 June 2009 Forecast 2004 $ Assets 106,333,757 115,063,172 19,429,632 10,697,008 Liabilities 86,000,000 84,669,308 13,019,361 4,911,164 Net Worth 20,333,757 30,393,864 6,410,271 5,785,844 Statement of Cash Flows 2009/10 Budget 2004/5 $ 2008/9 Estimated Actual 2003/4 $ Net cash flows from operating activities 652,328 (1,060,476) 357,104 131,462 Net cash flows from investing activities (4,119,6897,759,203) (594,7783,014,059) Net cash flows from financing activities (10,023,733) 3,976,7168,604,343 2,907,597

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2007/8 Budget $ 2008/9 Estimated Actual 2006/7 Forecast $ Revenue 17,950,000 15,778,858 19,351,500 16,790,000 Operating Expenses 17,950,000 15,532,347 16,087,936 13,379,928 Extraordinary Item (1,000,000) Net Surplus/Deficit 0 246,511 2,263,564 3,410,072 Balance Sheet As at 30 June 2010 2008 Budget $ As at 30 June 2009 2007 Forecast $ Assets 106,333,757 115,063,172 100,432,484 100,087,752 Liabilities 86,000,000 84,669,308 74,014,864 75,118,832 Net Worth 20,333,757 30,393,864 26,417,620 24,968,920 Statement of Cash Flows 2009/10 2007/8 Budget $ 2008/9 Estimated Actual 2006/7 Forecast $ Net cash flows from operating activities 652,328 (1,060,476) 2,675,313 6,764,400 Net cash flows from investing activities (4,119,6891,623,700) (594,7781,342,152) Net cash flows from financing activities (10,023,7332418,832) 3,976,716(2,004,121)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2009/10 Budget Target $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 3,194,807 3,464,100 Operating Expenses 17,950,000 15,532,347 (3,164,691) (3,538,261) Net Surplus/Deficit 0 246,511 30,116 (74,161) Balance Sheet As at 30 June 2010 Budget $ As at 30 June 2009 Forecast $ Assets 106,333,757 115,063,172 36,292,588 37,298,339 Liabilities 86,000,000 84,669,308 30,547,325 31,583,193 Net Worth 20,333,757 30,393,864 5,745,263 5,715,147 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 453,854 (1,060,476158,356) Net cash flows from investing activities (4,119,6893,799,063) (594,7781,661,600) Net cash flows from financing activities (10,023,733573,472) 3,976,716(281,622)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 Budget 2008/9 Target $ 2008/9 Estimated Actual 2007/8 Forecast $ Revenue 17,950,000 15,778,858 17,750,000 19,200,000 Operating Expenses 17,950,000 15,532,347 17,730,910 15,626,492 Net Surplus/Deficit 0 246,511 Balance Sheet 19,090 3,573,508 As at 30 June 2010 Budget $ As at 30 June Balance Sheet 2009 Forecast 2008 $ $ Assets 106,333,757 115,063,172 117,536,673 112,293,918 Liabilities 86,000,000 84,669,308 89,490,000 84,266,335 Net Worth 20,333,757 30,393,864 28,046,673 28,027,583 Statement of Cash Flows 2009/10 Budget 2008/9 Target $ 2008/9 Estimated Actual 2007/8 Forecast $ Net cash flows from operating activities 652,328 (1,060,476) 19,090 9,596,002 Net cash flows from investing activities 293,990 (4,119,689) (594,7781,512,073) Net cash flows from financing activities (10,023,7331,066,335) 3,976,716(6,782,067)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2008/9 Budget $ 2008/9 Estimated Actual 2007/8 Forecast $ Revenue 17,950,000 15,778,858 4,179,944 4,068,446 Operating Expenses 17,950,000 15,532,347 3,829,883 4,072,635 Net Surplus/Deficit 0 246,511 350,061 (4,189) Balance Sheet As at 30 June 2010 Budget 2009 $ As at 30 June 2009 Forecast 2008 $ Assets 106,333,757 115,063,172 39,308,450 38,981,579 Liabilities 86,000,000 84,669,308 31,756,584 32,974,922 Net Worth 20,333,757 30,393,864 7,551,866 6,006,657 Statement of Cash Flows 2009/10 2008/9 Budget $ 2008/9 Estimated Actual 2007/8 Forecast $ Net cash flows from operating activities 652,328 93,325 (1,060,476506,586) Net cash flows from investing activities (4,119,6891,304,301) (594,7784,682) Net cash flows from financing activities 542,616 (10,023,733) 3,976,716370,550)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2011/12 Budget $ 2008/9 Estimated Actual 2010/11 Forecast $ Revenue 17,950,000 15,778,858 18,625,000 17,920,000 Operating Expenses 17,950,000 15,532,347 18,625,000 17,495,000 Net Surplus/Deficit 0 246,511 425,000 Balance Sheet As at 30 June 2010 Budget 2012 $ As at 30 June 2009 Forecast 2011 $ Assets 106,333,757 115,063,172 108,245,109 104,896,101 Liabilities 86,000,000 84,669,308 85,972,321 82,623,313 Net Worth 20,333,757 30,393,864 22,272,788 22,272,788 Statement of Cash Flows 2009/10 2011/12 Budget $ 2008/9 Estimated Actual 2010/11 Forecast $ Net cash flows from operating activities 652,328 517,494 1,499,102 Net cash flows used by investing activities (1,060,4761,496,450) (792,077) Net cash flows from investing activities (4,119,689) (594,778) Net cash flows from used by financing activities (10,023,733425,000) 3,976,716(45,244) 74 2011/12 Ownership Agreements

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2009/10 2012/13 Budget $ 2008/9 Estimated Actual 2011/12 Forecast $ Revenue 17,950,000 15,778,858 18,990,000 18,375,000 Operating Expenses 17,950,000 15,532,347 18,990,000 18,375,000 Net Surplus/Deficit Surplus 0 246,511 0 Balance Sheet As at 30 June 2010 Budget 2013 $ As at 30 June 2009 Forecast 2012 $ Assets 106,333,757 115,063,172 114,273,127 111,958,275 Liabilities 86,000,000 84,669,308 91,611,021 89,296,169 Net Worth 20,333,757 30,393,864 22,662,106 22,662,106 Statement of Cash Flows 2009/10 2012/13 Budget $ 2008/9 Estimated Actual 2010/12 Forecast $ Net cash flows from operating activities 652,328 842,011 (1,060,476774,158) Net cash flows from used by investing activities (4,119,6891,209,000) (594,778976,486) Net cash flows from used by financing activities (10,023,7330) 3,976,716(425,000)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority National Insurance Company Ltd. is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2010/11 Budget 2009/10 Budget Forecast $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 52,033,371 50,586,925 Operating Expenses 17,950,000 15,532,347 51,011,535 46,802,409 Net Surplus/Deficit 0 246,511 Balance Sheet 1,021,836 3,784,516 As at 30 June 2010 Budget $ As at 30 June 2009 Balance Sheet 2011 $ 2010 Forecast $ Assets 106,333,757 115,063,172 27,112,252 26,769,580 Liabilities 86,000,000 84,669,308 14,731,393 13,985,846 Net Worth 20,333,757 30,393,864 12,380,859 12,783,734 2010/11 2009/10 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated Actual Forecast $ Net cash flows from operating activities 652,328 (1,060,476) 779,915 3,050,712 Net cash flows from investing activities (4,119,68916,000) (594,77814,581) Net cash flows from financing activities (10,023,7331,424,712) 3,976,716-

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2011/12 Budget $ 2008/9 Estimated Actual 2010/11 Forecast $ Revenue 17,950,000 15,778,858 18,625,000 17,920,000 Operating Expenses 17,950,000 15,532,347 18,625,000 17,495,000 Net Surplus/Deficit 0 246,511 425,000 Balance Sheet As at 30 June 2010 Budget 2012 $ As at 30 June 2009 Forecast 2011 $ Assets 106,333,757 115,063,172 108,245,109 104,896,101 Liabilities 86,000,000 84,669,308 85,972,321 82,623,313 Net Worth 20,333,757 30,393,864 22,272,788 22,272,788 Statement of Cash Flows 2009/10 2011/12 Budget $ 2008/9 Estimated Actual 2010/11 Forecast $ Net cash flows from operating activities 652,328 517,494 1,499,102 Net cash flows used by investing activities (1,060,4761,496,450) (792,077) Net cash flows from investing activities (4,119,689) (594,778) Net cash flows from used by financing activities (10,023,733425,000) 3,976,716(45,244)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Airports Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2009/10 Budget $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 24,977,600 20,712,871 Operating Expenses 17,950,000 15,532,347 17,855,212 13,760,023 Net Surplus/Deficit 0 246,511 7,122,388 6,952,848 Balance Sheet As at 30 June 2010 Budget $ As at 30 June 2010 2009 Forecast $ $ Assets 106,333,757 115,063,172 100,586,052 62,298,664 Liabilities 86,000,000 84,669,308 50,715,625 10,675,625 Net Worth 20,333,757 30,393,864 49,870,427 51,623,039 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated $ Actual $ Net cash flows from operating activities 652,328 (1,060,476) 6,637,388 7,047,491 Net cash flows from investing activities (4,119,68944,593,756) (594,778) 103,540 Net cash flows from financing activities 32,000,000 (10,023,733) 3,976,71672,858)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2009/10 Budget Target $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 3,194,807 3,464,100 Operating Expenses 17,950,000 15,532,347 (3,164,691) (3,538,261) Net Surplus/Deficit 0 246,511 30,116 (74,161) Balance Sheet As at 30 June 2010 Budget $ As at 30 June 2009 Forecast $ $ Assets 106,333,757 115,063,172 36,292,588 37,298,339 Liabilities 86,000,000 84,669,308 30,547,325 31,583,193 Net Worth 20,333,757 30,393,864 5,745,263 5,715,147 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 453,854 (1,060,476158,356) Net cash flows from investing activities (4,119,6893,799,063) (594,7781,661,600) Net cash flows from financing activities (10,023,733573,472) 3,976,716(281,622)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority National Insurance Company Ltd. is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2008/9 Budget $ 2008/9 Estimated Actual 2007/8 Forecast $ Revenue 17,950,000 15,778,858 48,992,051 34,741,262 Operating Expenses 17,950,000 15,532,347 47,441,313 34,608,800 Net Surplus/Deficit 0 246,511 Balance Sheet 1,550,738 132,462 As at 30 June 2010 Budget $ As at 30 June Balance Sheet 2009 Forecast $ 2008 $ Assets 106,333,757 115,063,172 9,792,484 11,081,982 Liabilities 86,000,000 84,669,308 13,761,254 10,497,733 Net Worth 20,333,757 30,393,864 (3,968,769) 584,248 2008/9 2007/8 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated Actual Forecast $ Net cash flows from operating activities 652,328 (1,060,476) 4,143,274 801,673 Net cash flows from investing activities (4,119,68948,000) (594,77859,000) Net cash flows from financing activities (10,023,733) 3,976,7161,500,000 500,000

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2010/11 Budget 2009/10 Budget Forecast $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 18,600,000 16,834,099 Operating Expenses 17,950,000 15,532,347 18,600,000 16,459,099 Net Surplus/Deficit 0 246,511 375,000 Balance Sheet As at 30 June 2010 2011 Budget $ As at 30 June 2009 2010 Forecast $ Assets 106,333,757 115,063,172 108,583,757 107,005,750 Liabilities 86,000,000 84,669,308 86,500,000 84,875,000 Net Worth 20,333,757 30,393,864 22,083,757 22,130,750 Statement of Cash Flows 2010/11 Budget 2009/10 Budget Forecast $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 (1,060,476140,887) (268,822) Net cash flows from used by investing activities (4,119,689765,214) (594,7782,302,435) Net cash flows from used by financing activities 935,663 (10,023,733) 3,976,7161,359,246)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 Budget 2005/6 $ 2008/9 Estimated Actual 2004/5 $ Revenue 17,950,000 15,778,858 3,355,537 8,033,788 Operating Expenses 17,950,000 15,532,347 3,258,057 7,895,449 Net Surplus/Deficit 0 246,511 97,480 138,339 Balance Sheet As at 30 June 2010 Budget 2006 $ As at 30 June 2009 Forecast 2005 $ Assets 106,333,757 115,063,172 21,929,081 19,196,200 Liabilities 86,000,000 84,669,308 15,565,441 12,929,441 Net Worth 20,333,757 30,393,864 6,364,240 6,266,760 Statement of Cash Flows 2009/10 Budget 2005/6 $ 2008/9 Estimated Actual 2004/5 $ Net cash flows from operating activities 652,328 (1,060,476) 279,556 349,758 Net cash flows from investing activities (4,119,68910,472,363) (594,7784,327,664) Net cash flows from financing activities (10,023,733) 3,976,7162,636,000 11,352,590

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2007/8 Budget $ 2008/9 Estimated Actual 2006/7 Forecast $ Revenue 17,950,000 15,778,858 4,291,810 2,607,875 Operating Expenses 17,950,000 15,532,347 3,979,598 2,554,750 Net Surplus/Deficit 0 246,511 312,212 53,125 Balance Sheet As at 30 June 2010 Budget 2008 $ As at 30 June 2009 Forecast 2007 $ Assets 106,333,757 115,063,172 38,840,552 38,977,118 Liabilities 86,000,000 84,669,308 31,332,349 31,781,127 Net Worth 20,333,757 30,393,864 7,508,203 7,195,991 Statement of Cash Flows 2009/10 Budget 2007/8 $ 2008/9 Estimated Actual 2006/7 $ Net cash flows from operating activities 652,328 (1,060,4765,664,640) (265,578) Net cash flows from investing activities - (4,119,689) (594,77819,273,077) Net cash flows from financing activities (10,023,733347,799) 3,976,71619,957,763

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2008/9 Budget $ 2008/9 Estimated Actual 2007/8 Forecast $ Revenue 17,950,000 15,778,858 4,179,944 4,068,446 Operating Expenses 17,950,000 15,532,347 3,829,883 4,072,635 Net Surplus/Deficit 0 246,511 350,061 (4,189) Balance Sheet As at 30 June 2010 Budget $ 2009 As at 30 June 2009 Forecast 2008 $ $ Assets 106,333,757 115,063,172 39,308,450 38,981,579 Liabilities 86,000,000 84,669,308 31,756,584 32,974,922 Net Worth 20,333,757 30,393,864 7,551,866 6,006,657 2008/9 2007/8 Statement of Cash Flows 2009/10 Budget Forecast $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 93,325 (1,060,476506,586) Net cash flows from investing activities (4,119,6891,304,301) (594,7784,682) Net cash flows from financing activities 542,616 (10,023,733) 3,976,716370,550)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Airports Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2009/10 Budget $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 24,977,600 20,712,871 Operating Expenses 17,950,000 15,532,347 17,855,212 13,760,023 Net Surplus/Deficit 0 246,511 7,122,388 6,952,848 Balance Sheet As at 30 June 2010 Budget $ As at 30 June 2009 Forecast $ Assets 106,333,757 115,063,172 100,586,052 62,298,664 Liabilities 86,000,000 84,669,308 50,715,625 10,675,625 Net Worth 20,333,757 30,393,864 49,870,427 51,623,039 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 (1,060,476) 6,637,388 7,047,491 Net cash flows from investing activities (4,119,68944,593,756) (594,778) 103,540 Net cash flows from financing activities 32,000,000 (10,023,733) 3,976,71672,858)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2010/11 Target 2009/10 Budget Forecast $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 3,357,625 3,231,487 Operating Expenses 17,950,000 15,532,347 (3,004,624) (3,166,749) Net Surplus/Deficit 0 246,511 353,001 64,738 Balance Sheet As at 30 June 2010 Budget $ 2011 As at 30 June 2009 Forecast 2010 $ $ Assets 106,333,757 115,063,172 44,278,970 40,604,407 Liabilities 86,000,000 84,669,308 38,301,925 34,980,363 Net Worth 20,333,757 30,393,864 5,977,045 5,624,044 2010/11 2009/10 Statement of Cash Flows 2009/10 Budget Forecast $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 (1,060,4762,292,114) (8,536,501) Net cash flows from investing activities (4,119,6892,400,000) (594,778) 1,600,938 Net cash flows from financing activities (10,023,733) 3,976,7163,778,504 3,196,944

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating . Statement 2009/10 Budget of Comprehensive Income 2012/13 Target $ 2008/9 Estimated Actual 2011/12 Forecast (Restated) $ Revenue 17,950,000 15,778,858 3,106,274 3,193,217 Operating Expenses 17,950,000 15,532,347 (3,172,138) (3,252,750) Net Surplus/Deficit 0 246,511 Balance Sheet (65,864) (59,533) Statement of Financial Position As at 30 June 2010 Budget 2013 $ As at 30 June 2009 Forecast 2012 (Restated) $ Assets 106,333,757 115,063,172 44,559,935 43,170,583 Liabilities 86,000,000 84,669,308 39,360,549 38,905,332 Net Worth 20,333,757 30,393,864 5,199,386 4,265,251 Statement of Cash Flows 2009/10 Budget 2012/13 Target $ 2008/9 Estimated Actual 2011/12 Forecast (Restated) $ Net cash flows from operating activities 652,328 (1,060,476) 1,663,547 21,276 Net cash flows from investing activities (4,119,68976,237) (594,778) - Net cash flows from financing activities 656,468 (10,023,733) 3,976,716501,335)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 Budget 2008/9 Target $ 2008/9 Estimated Actual 2007/8 Forecast $ Revenue 17,950,000 15,778,858 17,750,000 19,200,000 Operating Expenses 17,950,000 15,532,347 17,730,910 15,626,492 Net Surplus/Deficit 0 246,511 19,090 3,573,508 Balance Sheet As at 30 June 2010 Budget 2009 $ As at 30 June 2009 Forecast 2008 $ Assets 106,333,757 115,063,172 117,536,673 112,293,918 Liabilities 86,000,000 84,669,308 89,490,000 84,266,335 Net Worth 20,333,757 30,393,864 28,046,673 28,027,583 Statement of Cash Flows 2009/10 Budget 2008/9 Target $ 2008/9 Estimated Actual 2007/8 Forecast $ Net cash flows from operating activities 652,328 (1,060,476) 19,090 9,596,002 Net cash flows from investing activities 293,990 (4,119,689) (594,7781,512,073) Net cash flows from financing activities (10,023,7331,066,335) 3,976,716(6,782,067)

Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority National Insurance Company Ltd. is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: . Operating Statement 2009/10 2008/9 Budget $ 2008/9 Estimated Actual 2007/8 Forecast $ Revenue 17,950,000 15,778,858 48,992,051 34,741,262 Operating Expenses 17,950,000 15,532,347 47,441,313 34,608,800 Net Surplus/Deficit 0 246,511 1,550,738 132,462 Balance Sheet As at 30 June 2010 Budget 2009 $ As at 30 June 2009 Forecast 2008 $ Assets 106,333,757 115,063,172 9,792,484 11,081,982 Liabilities 86,000,000 84,669,308 13,761,254 10,497,733 Net Worth 20,333,757 30,393,864 (3,968,769) 584,248 Statement of Cash Flows 2009/10 2008/9 Budget $ 2008/9 Estimated Actual 2007/8 Forecast $ Net cash flows from operating activities 652,328 (1,060,476) 4,143,274 801,673 Net cash flows from investing activities (4,119,68948,000) (594,77859,000) Net cash flows from financing activities (10,023,733) 3,976,7161,500,000 500,000