Investor Presentaiton

☐ ☐ ☐ Liquified Natural Gas (LNG) Opportunities LNG Transshipment, Forward Inventory, and Redistribution Focus on reducing the cost of bringing LNG from the Mainland to Puerto Rico via tanker vessel. Create a LNG bunkering and/or transload site in the South of the Island. Install tankage at Ponce and/or Guayanilla, receive inbound LNG; repackage or transload and redistribute into the Caribbean, South America, and other points on the Island. A viable option for Puerto Rico to address clean energy needs and create a sustainable transshipment and redistribution economy (all while supporting the local Island economy) is to establish a site in the South of the Island that accommodates LNG bunkering and/or transloading. Gas demand in China and the Middle East is expected to grow, and demand in the US is expected to grow (although less than previous years). Forecasts in the EU is for growth, as well. Production to meet the growing demand is set to increase the most in the United States, which Puerto Rico can use to its advantage due to its association with the Jones Act. Reducing the cost of bringing LNG from the Mainland to Puerto Rico via tanker vessel becomes a compelling opportunity. Small scale LNG could be the most viable option for the island Small scale LNG is the process of delivering LNG in small quantities to areas otherwise note connected to the greater natural gas supply chain (often remains liquid) Main uses: Marine fuel, heavy road transport fuel, power generation in off-grid locations Leveraging Puerto Rico's Strengths Puerto Rico has plenty of unused capacity in its current port infrastructure to be able to accommodate an LNG bunkering facility, tanking facility, or receiving inbound gas Install tankage at Ponce and/or Guayanilla, receiving inbound LNG with the potential to repackage or transload and redistribute to the Caribbean market, South America, and other points on the Island Tote Maritime has built a facility for LNG bunkering in Jacksonville Tote is one of Puerto Rico's primary ocean service providers - Important Note: - There is already a waiver precedent set by congress for shipment ☐ ☐ Moving Ahead Requires... Dredging Guayanilla to 37', as committed, to allow larger ships to call Establish or expand existing FTZs to accommodate natural gas Receiving a waiver - The PR Shipping Association would support pursuing a waiver and help facilitate which would require evidence that there is no other option but to get that waiver. DR is already positioning for transshipment of LNG, so Puerto Rico will need to move quickly Explore the possibility of Small Scale LNG on Island: Speak to appropriate authorities to explore the possibility of building a small liquefaction facility Study the market size and production forecast to determine economic feasibility of LNG from the Mainland. According to Eduardo Pagan, the waiver was "relatively easy" to get, but was never used. SEABURY MARITIME 47

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