Arable Land Speci f ica t ions

The Gulf Pacific Agricultural Investment Company “GPAC” is a private equity investment company focused on developing agricultural production zones greater than 10,000 hectares with the ability to produce grains, oilseeds and protein crops. GPAC develops these production zones from greenfield or derelict brownfield sites upon which it can implement it’s proven agricultural development model.

© 2011 – 2012 Gulf Pacific Holdings Corporation, Jebel Ali Free Zone, Dubai, United Arab Emirates

G u l f P a c i f i c F o c u s

A g r i c u l t u r a l P r o d u c t i o n Z o n e

GPAC seeks to develop agricultural production zones with a minimum plantable area of 10,000 hectares. The land developed can be a mix of greenfield and brownfield land within close proximity.

L a n d A s s e s s m e n t C r i t e r i a

L a n d T y p e s D e f i n e d

Greenfield Land •  Virgin land •  No legal title or EIA •  No infrastructure •  Debushing required

Brownfield Land •  Former farmland •  Land titled •  Some infrastructure •  Pre-existing fields

Development Model

Storage & Distribution

Added Value Processing

Commercial Farms Agronomic Centre

Out-Grower Scheme

Community Development Demarcated Development Boundary

Estimated Area: 15,000 hectares

Prior to visiting a potential development site GPAC conducts a basic assessment and grades the opportunity based on the following criteria:

þ  Land Description •  Size of demarcated area •  Current land use •  Topography & vegetation

þ Water •  Distance from surface water •  Upstream & downstream uses •  Quantity & quality

þ  Title •  Status: titled or untitled •  Historic ownership •  Existing encroachment issues

þ Proposed Commercial Terms

þ Agronomic Capabilities •  Rainfall, temperature & humidity •  Productive seasons •  Soils & terrain •  Light intensity & duration

þ Geographical Location •  Distance from ports •  Distance from electricity •  Labour availability

þ Existing Infrastructure •  Roads & bridges •  Irrigation channels •  Buildings •  Previous land improvement

Deta i led Feas ib i l i ty Schedule

© 2011 – 2012 Gulf Pacific Holdings Corporation, Jebel Ali Free Zone, Dubai, United Arab Emirates

For development opportunities that GPAC decides to take forward, the company first completes a Pre-Feasibility Field Report (“PFF”) which includes a 10 day site visit. Assuming no fundamental issues are identified during the PFF stage, the company then mobilises it’s technical team to complete the master development and implementation plan. As part of this Master Development Plan, GPAC conducts a detailed feasibility study which includes, but not limited to, the following areas:

Mapping •  1:50,000 scale map with boundaries marked with a hatched red line & GPS readings •  GIS mapping of land areas, water, existing settlements, roads & other key features •  Analysis of satellite imagery to map biomass growth index, waterlogging & drought risk •  1:25,000 scale map with proposed land use zoning Water •  Maximum, minimum and peak rainfall tables for last 10 plus years •  Monthly water deficit estimates •  Assessment of sources of water for irrigation •  Assessment of existing water storage infrastructure & water storage requirements •  Review of water rights & water authorities •  Salinity readings •  Local & regional hydrology •  River flow patterns •  Abstraction & conveyance Soils •  1:12,500 scale soil mapping •  Geotech survey for general farm area & area selected for construction of infrastructure •  Soil characteristics: testing to analysis particle size distribution, soil density, bulk density, hydraulic

conductivity, pF curves, infiltration rates and soil compaction. •  Soil chemistry: testing to analysis pH, EC, CEC, Cations (Ca, Mg, Na, K), SAR, ESP values, Anions

(Cl, So4), Carbonate and bicarbonate; •  Calculation soil improvement requirements & sourcing of soil amendments available locally Climatic •  Monthly maximum / minimum temperatures, sunshine hours & insolation •  Wind, humidity, evaporation, evapotranspiration & effective rainfall •  Occurrence of freak weather events (dust storms, cyclones, drought) Land Formation •  Calculation of total plantable area & total irrigable area •  Land zoning: organisation of phased development blocks •  Topography surveying: looking specifically at slopes, wetness and shallowness •  Soil / Geo-tech survey with establishment of base stations across proposed farm •  Land clearing estimations & land levelling modelling estimates including cut/fill calculations •  Flood protection estimates, flood routing models & field drainage plans Irrigation and Drainage •  Monthly cropping requirements (Penman Monteith simulations) •  Assess irrigation methods suitable with specification, efficiency & cost estimates •  Irrigation design & engineering •  Calculate the month & annual bulk water demands from operations •  Assessment of energy requirements including remote off grid solutions •  Water distribution & night storage requirements •  Subsurface & surface drainage provisions (collector drains, arterial drains & peak discharges)

Design Considerat ions

© 2011 – 2012 Gulf Pacific Holdings Corporation, Jebel Ali Free Zone, Dubai, United Arab Emirates

Other key design elements that GPAC takes into consideration during the master development planning phase includes, but not limited to, the following:

Agronomic •  Field size, design & required soil improvement •  Cropping calendar: crop selection, rotation plans & proposed practices •  Availability & cost estimation of key inputs (including regulatory approvals where required) •  Assessment of salinity, disease, pests & invasive weed risk •  Assessment of potential impact from animals, rodents & birds •  Lead times on technology & equipment Plant Varieties •  List available varieties including early & late varieties for seasonal variation •  Review of existing trial data available within country •  Specification & identification of certified seed suppliers Infrastructure •  Buildings: Design, mapping and cost estimates for settlement program (office, management

housing, staff housing, guest houses, welfare facilities, training centre, workshop, machinery store, part store, chemical store, crop store, dryer building, processing building & product distribution centre).

•  Utilities: Specification, mapping & cost estimates for roads (main, link & farm track), water, electricity, sanitation, communication, fuel / lubricant storage, runway, dams & pump stations

Human Resources •  Management, supervisory & administration staffing requirements •  Recruitment, retention & training of labour force •  Available payment infrastructure Out-Grower Schemes •  Scheme design, development, implementation & management Environmental & Social Impact Assessment •  Screening of environmental & social risks •  Stakeholder engagement plan •  Resettlement action plan •  Community participation & identification of key needs Country Specific •  Political stability, internal conflicts, infrastructure, economic outlook & social trends •  Taxes, trade restrictions, currency & inflation Legal •  Legal system & regulatory environment •  Land titling system (ratified long term lease structures of 49 - 99 years renewable) •  Labour regulations •  Investment incentives & restrictions Markets •  Domestic supply & demand trends •  Pricing, packaging & consumer profiling •  Existing distribution channels & competition •  Import / export restrictions & taxes