1) Minutes SPECIAL ECONOMIC ZONE AUTHORITY – Monthly Meeting Wednesday January 27, 2016 10:00 a.m. BOARDROOM 2024 2nd Floor CAYMAN ISLANDS GOVERNMENT ADMINISTRATION BUILDING Present: Glen Daykin, Deputy Chairman Ryan Rajkumarsingh (DCI), Director Samantha Bennett, (Immigration) Designate Director Marcus Cumber, Director Haroon Pandohie, (Planning) Director Philip Scott, (Ministry of Education) Designate Director Heidi Whittaker, (DCI) Acting Assistant Secretary Apologies: Jon Hall (Lands & Survey) Designate Director Sophia Harris, Director Absent: Charles Clifford (Customs), Director/ Kevin Walton (Customs), Designate Director Guests: Charlie Kirkconnell - Present for CEC/EC update Meeting began at 10:15 a.m. 1. Minutes for December 2015 meeting were read and GD moved a motion to approve. MC seconded. 2. Licensing Committee Update: GD moved a motion for the Board to accept and ratify the Licensing Committee’s decision of approved Companies that have supplied Corporate Documents and whose Trade Certificates were issued. All members voted to accept with no objections as follows: I. ï‚· ï‚· ï‚· ï‚· 701 Top Rock Enterprises SEZC : 14 Jan 2016 Meeting 01/2016: Approved in Principle 12 Jan 2016: Corporate Documents Received Cayman Media Park Description: Company will provide advertising and strategic marketing services to an international network of clients. II. ï‚· ï‚· ï‚· ï‚· 702 Heavens Eye SEZC : 21 Jan 2016 Meeting 03/2016: Approved in Principle 15 Jan 2016: Corporate Documents Received Cayman Internet Park Description: Company will act as the parent company/ head of Flashbay. Flashbay specializes in the engineering design and manufacturing of special purpose components for the ITC sector. 1 

2) III. ï‚· ï‚· ï‚· ï‚· 703 Specter Services SEZC : 21 Jan 2016 Meeting 02/2016: Approved in Principle 19 Jan 2016: Corporate Documents Received Cayman Internet Park Description: Company will engage in computer consultancy, computer programing and related activities. 3. TC Renewal Process: The secretariat requested information on the Trade Certificate Renewal Process as there are some companies whose initial TC Grants will expire this year. The board decided that once the initial TC’s expire, the companies will have to re-apply for another grant. 4. AMP Distributors Update: The board has requested that the secretariat reach out to AMP Distributors for further information on Richard Purdom so that due diligence checks can be run. This is as per their email stating that they are hoping to bring Mr. Purdom on as their Registered Member. The board would also like to get a better understanding of what Mr. Purdom’s role in the business will be. 5. CEC/ EC Update Update began at 10:42 AM. I. CK’s update included the following: ï‚· 180 entities signed up, 166 operating in the zone ï‚· There has been slight attrition from the zone with five (5) or six (6) companies giving notice that they will be leaving the zone. II. CK noted the following regarding CEC’s marketing initiative: ï‚· IMA event is tentatively scheduled for April 6-7, 2016 at the Ritz Carlton. Awaiting confirmation. The keynote speaker will be Joe DeMike from Google. ï‚· CEC’s PR company is working on setting up interviews with several significant NYC publishing companies to line up interviews for potential stories on CEC. Jobs/ Job Portal Update: ï‚· The employment report was not provided, CK will forward to RR for circulation. ï‚· CEC has lost four (4) new employees and taken on six (6). CEC anticipates a good year as a lot of companies are expanding and the quality of prospective clients has been continuously improving. ï‚· Fabrilink has interviewed a Caymanian with a PHd in Fibre Optics and is considering making him an offer. III. CK provided a Summary of Estimated Economic Impact last meeting. GD has requested a copy of the report that was sent to the ministry. A copy of the executive summary will suffice. IV. The board has requested that CK provide his report(s) prior to the meeting so that the Board members have a chance to review the information before-hand. CK is to send to the secretariat and make a claim of confidentiality if necessary. V. CK’s update ended at 10:56AM. 6. The Board would like to compare the secretariat’s (DCI’s) expenditure on SEZA to what CEC pays directly to government in fees since its inception. 2 

3) 7. The next board meeting is tentatively scheduled for Friday February 19, 2016 at 9:30AM. 8. With no further matters arising, the meeting was adjourned at 11:10AM 3