What is your assessment of the general financial condition of Shearwater? EXHIBIT 1 Number of Shearwater Customers by Service and Geographic Area, 2017 Total Service Botswana Zimbabwe Zambia 146,908 Transport 27.263 100.524 19,121 8,635 Accommodations 8,635 Activities 21.013 149,240 7.253 120,974 30,612 Retail 30,612 183,003 Restaurants 183,003 48,276 518,398 26.374 Total 443,748 Source: Shearwater company reports. EXHIBIT 2 Shearwater Business Location Analysis (Dollar amounts in USD) Zimbabwe Zambia Botswana Number of Guests Average Revenue Operating costs per Guest 443,748 $59.12 $(50.80) 26.375 $64.59 $(47.98) 48,276 $46.86 $(32.74) Source: Shearwater company reports EXHIBIT 3 Shearwater Balance Sheet Zimbabwe Zambia Botswana Fixed Assets Current Assets Total Assets Total Equity Borrowings Current Liabilities Total Liabilities Total Equity & Liabilities $ 302.041 306,740 608.781 (301.122) $ 6.639.773 6,379,059 13.018,832 (5.270.905) (2.941.266) (4.806.926) (7.748.192) $(13.019,097) $ 353,657 796,923 1.150,580 (192,238) (607,368) (350,973) 1958.341) $(1,150,579) (307,660) (307,660) $ (608.782) Source: Shearwater company reports. EXHIBIT 4 Shearwater Business Sector Highlights, 2017 (Dollar amounts in USD) Transport Activities Accommodations Shops Cafes Number of Guests 146,909 149,240 8,634 30,611 183,002 Sales & Other Income $ 2,216,846 $ 14,182,462 $ 190,698 $1,171.944 $ 2.100,934 Average Revenue $21 $ 135 $31 $54 $16 Operating costs $(1.724,414) $(10,911,861) $(311,733) $ (957,558) $(1.940,915) Operating costs per Guest $16.72 $104.14 $51.41 $44.55 $15.11