Plaquemines Port, Harbor & Terminal District Louisiana .

Private & ConfidentialPlaquemines Port, Harbor & Terminal DistrictLouisiana Gulf Gateway Intermodal ComplexDevelopment Summary

2Global Trade Demand and OpportunityPrivate & Confidential

Sponsor Summary38Plaquemines Port Harbor and Terminal District (“PPHTD”) is a State of Louisiana governmental entitycharged with oversite and expansion of the Port’s resources and facilities. Located at the mouth of theMississippi River, our port provides water access to 33 states – allowing businesses to benefit from barge,rail and interstate highway access across much of the United States. Plaquemines Port is perfectlypositioned to serve the expanding global markets for oil & gas, grain, coal, chemicals and more. Inaddition, the port offers 14 majoranchorages and thousands of acres of properties available for development of container ports, bulk & break bulk operations, docks and muchmore. PPHTD is currently in development on several major expansion projects including a container port, liquid natural gas complex as well as acrude oil transport and storage terminal. PPHTD utilizes the Australian PPP model to facilitate development through its partnership withLouisiana 23 Development Company, LLC.Louisiana 23 Development Company (“LA23”) is a privately held development firm based in Belle Chasse, Louisianaand the sole strategic developer for PPHTD. Our focus is on Class A development in the industrial, transportation andlogistics markets between the Gulf Coast and the Midwest. We are currently active in 7 states including: Louisiana,Texas, Arkansas, Missouri, Tennessee, Iowa, and Illinois. Our firm is accelerating to become one of the most activeindustrial development firms in the country, with a goal of developing over 60,000,000 square feet of Class A industrialproduct in the next 6 years.LA23 differentiates ourselves from our competition through a strong engineering and technical focus. We were founded by engineers withextensive experience in civil, environmental, geotech, construction and industrial process engineering as well as team members with deepexpertise in logistics, labor and incentives. We also have a deep bench of strategic partners who provide LA23 with full service engineeringsPr ivuaptpeo&rtwCohnichfidiseantfiuarlthersource of competitive advantage. Our team’s broad experience enables us to create long term value for ourclients.

Growing Trade Demand and Opportunity*Dra wings Not to Scale-

Growing Trade Demand and OpportunityRecent Shifts in Trade Patterns Ocean Carrier Alliances Fewer / Larger Vessels The Main Three 2M Alliance: MSC, Maersk, Hamburg Sud, Hyundai Ocean Alliance: CMA-CGM, APL, COSCO, China Shipping, OOCL,Evergreen The Alliance: NYK Group, “K” Line, MOL, Yang Ming, Hapag-Lloyd,UASC 53 vessels 20,000 TEU maximum capacity operational 42 vessels 20,000 TEU on order for delivery 2019-2022 Existing Gulf Coast Ports Have Inherent Inefficiencies: Originally built for smaller vessels New Orleans 9,500 TEU Houston 9,000 TEU 1x/week Tamp 9,500 TEU Have limited expansion capability Growing dwell times and intermodal delays

7Mid-West Market OverviewPrivate & Confidential

Mid-West Market Summary5th largest GDP in the worldPrivate & Confidential8

Mid-West Market Summary1.2312.3.Pre-expansion only 46% of the US was services by ports east ofline. Maximum 4,800 TEU through canal.Post-expansion increased to 64% of the US was serviced byports east of line. Maximum 14,600 TEU through canal.PPHTD project increases to 75% of the US serviced by ports eastof the line. Maximum 20,000 TEU into GOM with 3rd expansionof canal.321Dashed line represents preliminary feasibility study areaof impact by PPHTD port project with connectivity by railand the APH vessel on the Mississippi River andtributary system.

10Plaquemines Port, Harbor & Terminal DistrictOverviewPrivate & Confidential

Plaquemines Port, Harbor & Terminal DistrictOverviewPPHTD-First 100 miles of the River Nearest port to the Midwest, saving 50 miles of river transit tonext nearest port8,000 acres for development on West Bank of riverSouthernmost deep draft port on Mississippi River (55 ft.)Largest part of river averaging no less than 2,500 feetNo air draft restrictionsFull intermodal connectivityRural setting with positive public supportJobs and taxesSites suitable for: Gas processing andrefiningManufacturingBulk commodities, including agricultural productsTank farmsContainerterminals with on dock rail andlogistics parkSouthern terminus for all water rivertransportationDistributions centersLNG export terminalPrivate & Confidential11

Plaquemines Port, Harbor & Terminal District Overview-VerticalsContainer TerminalNeed exists for a strategic newmaritime container terminal inthe lower Mississippi River thatcan handle the largest vesselsmoving goods from Asia. TheLAGG container terminalprovides a competitivealternative to the containertraffic needs of Dallas/ Ft. Worthamong other metropolitanregionsFully constructed, the terminalwill comprise of: 900 acres on more thantwo miles of MississippiRiver frontage Three mega shipberths Two inland vessel berths Eight unit trains of ondock capacity 1.2 BillionShortlineRailroadLNGTwo liquified natural gas (LNG)facilities are currently indevelopment with PPHTDjurisdiction. Venture Global isfinalizing a FERC review and isexpected to break ground in 4Q19and deliver 44 million metric tonsper annum (MMTPA) within fiveyears. Pointe LNG, has completedpre-FERC filings. The developmentgroup is assisting Pointe LNG withcommercial offtake agreementsand financing options. Common carrier pipelinesdeliver gas feedstock fromoffshore production as well asthe Marcellus and Haynesvilleplays 18.5 BillionExpansion of the Gulf Coast shortline railroad in a joint venturewith the current regionaloperator and industry leader The railroad currently servesover 20 switching andindustrial customers and isthe only railroad on the westbank of the Mississippi RiverPredominant shipmentsinclude a variety of foodproducts, oils, grainspetroleum products,chemicals and steelThe US Navy has agreed toallowfor dual use of the current NASBelle Chasse facility. This allowsthe development of a previousnon-encroachment zone withcommercial entities. We havealso entered into agreementswith existing land ownersadjacenttothe Naval Air Station to develop anair cargo terminal that is connectedto both rail and major highways inthe New Orleansregion. 2.5 BillionAgricultural BulkTerminalAir CargoTerminalThe Naval Air Stationmakesavailable both a 6,000 ft and10,000 ft runwayInteresttopartneralready exists from majorair cargo operators 1.5 BillionLouisiana Agricultural Terminalswill build out additional grainelevators and ocean goingterminalling capacity to serviceglobal food processing andcommodities trading corporationsand cooperatives to transportagricultural commodities, such assoybeans, oilseeds, corn, wheat,sugar, milo, oats, rice, and barleythroughout the world. Port of South Louisiana is atcapacity 1.0 Billion18Pri va te & Confidential

Plaquemines Port, Harbor & Terminal District Overview-VerticalsWarehousingThe current Master Plan calls forthe development of threecampuses. The construction willbe primarilydriven by thecommercial viability, with limitedspec builds. Additionally, weexpect the need for 30%-40%refrigeratedspace. Northern campus willservice the air cargoterminal, rail corridor, andhighway access with 12mm sq. ft.Central campus will servicethesecondaryhandingfacility with rail at 14 mm sqft.Southern campus will servicethe container terminalwithrail at 7 mm sq.ft. 2.5 BillionMethanolSpecialty ChemicalThe site setting and access tovarious modes of transportationand feedstocks allows for thedevelopment of a variety ofspecialty chemical plants. As oneof the primary export products,the region currently supports thisindustry and there is a need foradditional facilities. Plastic resins andpelletsUrea, ammoniaandother fertilizerproductsCurrently there are two separatefacilities that are in developmentwithin the PPHTDjurisdiction.Additional facilities with respectto methanol production areunder consideration due to thelocation and access tofeedstocks. 1.5 BillionIGP Methanol isproposeddirectly north of thesouthern campus.Central campus will servicethesecondaryhandingfacility with rail at 14 mm sq.ft.Southern campus will servicethe container terminalwithrail at 7 mm sq.ft. 1.5 BillionAutomotiveAutomotive imports are currentlymanaged within the east and westcoast port facilities such asBaltimore and Jacksonville. Thecurrent operations are limited onland space and access to ultradeep draft vessels. The southerncampus has dock capacity, rail anddry access, along nearly 1,000acres of land which is available fortemporary storage andmanagement. 0.5 BillionRecyclingAccess to deep draft vesselswithin 100 miles of the Gulf ofMexico waters opens the shipand vessel recycling market.Sufficient land area, limitedpopulation and nearby terminaloperations make for thedevelopment of a large-scalerecycling facility a likely target.Additionally, the ability to loadthe recycled material intocontainers,or in large billets fortransportation to Asia areadvantageous. 0.75 Billion19Pri va te & Confidential

Plaquemines Port, Harbor & Terminal DistrictOverviewMultimodal ConnectionThe Louisiana Gulf Gateway facilitieshaveaccess to all modes of transportation: Deepwater Marine – Direct access to Gulf of Mexicowith similar aperture to Panama CanalInland Marine – Exclusive arrangement with APHinnovative Container on Vessel for Mississippi Riverand tributariesRail – Class 1 access to: BNSF, CN, CSX, NS, UP,and KCSHighway – LA Hwy 23 direct ties into US I-49 at NewOrleansAir – Commercial air cargo at NAS Belle Chasse – JRBNew OrleansPipeline – Comprehensive pipeline network for bothraw and refined productsPrivate & Confidential14

15Plaquemines Port, Harbor & Terminal District DevelopmentPlanPrivate & Confidential

Plaquemines Port, Harbor & Terminal District DevelopmentPlan 3 primary campus (North, Central, and South) along west bankIntermodal connectors Improved rail capacity – up to 15 unit trains per day in andout 4-lane highway with direct access to US interstate highwaysystemNorthern campus Air cargo terminal with access to existing 6,000 ft and10,000 ft runways 10M square feet of warehouse spaceCentral campus Plaquemines Liquids Terminal Secondary handling facility - 15M square feet ofwarehouse spaceSouthern campus 1,000 acre container terminal Adjacent 7M square foot logistics park Expandable terminal footprint Venture Global LNG facility Dry bulk handing facilitiesPrivate & Confidential16

Plaquemines Port, Harbor & Terminal District DevelopmentPlanNorthern Campus - Commercial Air Cargo Terminal 10 million square feetofwarehousing Distribution centers Intermodal transfer facility Rail connectivity to southerncampus NAS-JRB New Orleans 10,000 ftrunway 6,000 ftrunwayPrivate & Confidential17

Plaquemines Port, Harbor & Terminal District DevelopmentPlanCentral Campus – Secondary Handling Facility 15 million square feetofwarehousing Distribution centers Intermodal transfer facility Rail connectivity to southerncampus and Avondalefacility Direct access to Highway 23Private & Confidential18

Plaquemines Port, Harbor & Terminal District DevelopmentPlanCentral Campus - Plaquemines Liquids Terminal 20-million barrelcapacity Suez class dock atfacility Connectivity through SeahorseandPelican pipelines Direct connect to SPM for VLCC Estimated 30 million barrelpermonth throughputcapacityPrivate & Confidential19