Financial Performance and Settlement Updates May 2015

In May 2015, the financial results showed a mixed performance with some entities surpassing budget expectations while others fell short. Additionally, there were updates on Treaty Claim Costs and Aquaculture Settlement Funds. The overall financial picture reflected a dynamic period with various challenges and opportunities.

• Financial performance
• May 2015
• Treaty claim
• Aquaculture settlement
• Budget variances

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1. 18 July 2015 Finance

2. Finance Reporting Period April June 2015 April 1 Chief Financial Officer appointed Acting CEO for 6 week period during April through to June

3. April 2015 Financial Results Consolidated Financial Performance Summary April 2015 Actual vs Budget MONTH YEAR TO DATE BUDGET ACTUAL BUDGET ACTUAL VARIANCE (137,473) (189,702) (137,473) (189,702) 52,229 Ngatiwai Management Limited, & Bland Bay Camp ground Ngatiwai Holdings Limited & 95,688 102,857 95,688 (7,169) 102,857 Ngatiwai Fishing Limited Oceans Resort Tutukaka Limited & (21,592) (31,611) (21,592) 10,020 (31,611) Ngatiwai Investment Holdings Limited (63,376) (118,456) Group Net Surplus / (Loss) (63,376) (118,456) 55,080

4. May 2015 Financial Results Consolidated Financial Performance Summary May 2015 Actual vs Budget MONTH YEAR TO DATE ACTUAL BUDGET ACTUAL BUDGET VARIANCE Ngatiwai Management Limited, (145,068) (123,035) (281,819) (312,737) 30,918 & Bland Bay Camp ground Ngatiwai Holdings Limited & Ngatiwai Fishing Limited 110,845 102,507 206,513 1,499 205,014 Oceans Resort Tutukaka Limited & (43,807) (15,283) (65,401) (56,978) (8,423) Ngatiwai Investment Holdings Limited (78,029) (35,811) Group Net Surplus / (Loss) (140,708) (116,146) (24,562)

5. Treaty Claim Costs to Date 2013 2014 2015 April 2015 May 2015 28,370 429,460 204,291 8,653 13,032 Total to Date $683,806 ================= OTS Funding received $185,000 =================

6. Aquaculture Settlement Costs to date $ 145,800 Approximate Settlement Funds due Northland Space Auckland Space $ 500,000 $3,000,000