1. Kalaallit Airports A/S
General Presentation
June 2017

2. TOPICS
About Kalaallit Airports A/S
Management and Organization
Project Strategy
Area requirements
Activities and status
Project Financing
Economics
Uncertainties
Commercial matters

3. ABOUT KALAALLIT AIRPORTS
Kalaallit Airports A / S was founded on July 1, 2016 and is owned 100% by the Government of Greenland
The Company's purpose is to construct, own and operate airports in Nuuk, Ilulissat and Qaqortoq.
Prior to the founding of the company, the Ministry of Infrastructure initiated the necessary feasibility studies and started the development of construction programs.
Naalakkersuisut has as of subscribed for share capital in the company by 200 million DKK.
On 30 December 2016, the Government of Greenland invested an additional 94.3 million DKK as subordinated loan to the company.

4. MANAGEMENT AND organization
Johannus Egholm Hansen, Chairman of Board
- Professional Board Member, Business Consultant and Lawyer
- Many years of International management, trade, project, M & A, and legal experience
- Experience with infrastructure investments
- Deputy Chairman of the Board during Airport Development in the Faroe Islands
Presidency
Finance Committee
Committee of Construction
Peter Christiansen, Deputy Chariman
Executive MBA; Cand.merc. Strategy, Organization and Leadership at Copenhagen Business School
- Chief Financial Officer
Presidency
Committee of Construction
Anna-Berit Koertz, Board member
- Bachl. of Commerce, Accounting internal/external, IT, Corporate Finance, Leadership and Org.
E-MBA Shipping & Logistics, Strategy, Organization, Operations Management,
International Economics, Finance, Shipping and Supply Chain Management
- Many years of experience with financing, including Project financing and board work
Finance Committee
Jàkup Sverri Kass, Board member
- Cand.ling.merc.
- Airport Director and Professional Board Member
- Many years of management, sales and marketing experience
Operating Committee
Aviâja Lyberth Lennert, Board Member
- Diploma of Arts; Bachelor of Science in Sociologi
- Board work, project management and management.
Operating Committee
Steffen Ulrich-Lynge, CEO
- Engineer
- Great management experince
- Responsible for the construction of regional airports in Greenland
Operating Committee
Committee of Construcion
Peter Wistoft, CFO
- Former equity partner at Deloitte (Former state-authorized public accountant)
- Expert in accounting & budgeting
- Management experience

5. Management and organization
Steffen Ulrich-Lynge, CEO
Peter Wistoft, CFO
Others
Aviaaja Knudsen, Project Director
Jesper Nordskilde, Project Manager
Annie Lennert, Administrative Manager

6. Project Strategy Overall planning Project planning
Separation of runway projects and service and terminal projects, both in the project planning and execution phase
Creation of Greenlandic jobs, competence-development and knowledge sharing will be among the criteria for selection of project advisors and contractors
Project planning
Project programs are based on the following runway lengths, as decided by Inatsisartut and Naalakkersuisut;
Qaqortoq: meters
Ilulissat: meters
Nuuk: meters
Runways designed with 2-4 months shifted intervals
Planning of airport buildings are expected to start medio 2017
The Board considers own supply of technical
equipment and machinery

7. Project strategy Execution
Commencement of tender process for construction contracts requires a new decision by Naalakkersuisut
Initiation of runway projects with 2-4 months intervals
Initiation of terminal- and service buildings with 2-4 months intervals
The Board considers the possibility of offering alternative timetables during project management, due to constraints on entrepreneurial capacity and the risk of higher prices

8. Area requirements - qaqortoq

9. Area requirements - nuuk

10. Area requirements - ilulissat

11. PLANNED PLANNED PLANNED
5. ACTIVITIES & STATUS
QAQORTOQ ILULISSAT NUUK
PLANNED PLANNED PLANNED
Dialogue with commercial stakeholders ongoing ongoing ongoing
(Eg Mittarfeqarfiit, Air Greenland, etc.)
Project Organisation ongoing ongoing ongoing
Selection of technical client advisor (Inuplan) completed completed completed
Tender for advisory sevice regarding EIA completed completed completed
Selection of advisor regarding EIA (NIRAS) completed completed completed
Project programe and C-estimate completed completed completed
Regulatory approvals throughout throughout throught 2017+
- EIS quarter quarter quarter. 2018
Regulatory approvals throughout throughout throughout Land Allocation quarter quarter quarter. 2018
Regulatory approvals throughout throughout throughout Aviation Authority approval quarter quarter quarter. 2018
Regulatory approvals July July July 2017
- Project permit from ”Infrastructure”

12. PLANNED PLANNED PLANNED
5. ACTIVITIES & STATUS
QAQORTOQ ILULISSAT NUUK
PLANNED PLANNED PLANNED
Pre-qualification of enginee. companies, runway completed completed completed
Tendering and selection of enginee. companies completed completed compledet
runway
ILS Simulations finished finished
Development of Business and Financing Plan Aug Aug Aug. 2017
Pre-qualification of enginee. companies, buildings June-Aug June-Aug June-Aug.2017
Tender concerning enginee. companies, buildings Sept.-Nov Sept.-Nov Sept.-Nov. 2017
Engineering of terminal and service buildings Dec Dec Dec
Dec Dec Dec. 2018
Project proposals and B-estimates for runways Dec Aug Oct
Mar Nov Jan. 2018
Preparation of tender documents July July July 2017-
for the choice of corporate Finance Advisor Aug Aug Aug. 2017
Selection of corporate Finance Advisor Sept Sept Sept. 2017
Development of Information Memorandum Sept Sept Sept
to lenders Mar Mar Mar. 2018

13. PLANNED PLANNED PLANNED
5. ACTIVITIES & STATUS
QAQORTOQ ILULISSAT NUUK
PLANNED PLANNED PLANNED
Negotiating with lenders and contracting Apr Apr Apr
June June June 2018
Main project and updated B-estimates,runways April Dec Feb July Mar Maj 2018
Tender for Construction Contracts, runways Aug April June 2018-
Okt June Aug. 2018
Land construction, runways Nov June Sept
Nov Nov Jan. 2020
Tender forConstruction Contract, buildings Jan Jan Jan
Mar Mar Mar. 2019
Terminal and service buildings, construction April April April 2019-
Sept Sept Sept. 2021
Pavement, runway lighting and nav. equipment May May May 2020-
Commencement of airport operations Oct Oct Oct. 2021