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MNA_250215_33 Ross Crescent Sunshine Beach_00.pdf

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Disclaimer
Moffatt & Nichol devoted effort consistent with (i) the level of diligence ordinarily exercised by competent
professionals practicing in the area under the same or similar circumstances, and (ii) the time and budget
available for its work, to ensure that the data contained in this report is accurate as of the date of its
preparation. This study is based on estimates, assumptions and other information developed by Moffatt &
Nichol from its independent research effort, general knowledge of the industry, and information provided by
and consultations with the client and the client's representatives. No responsibility is assumed for
inaccuracies in reporting by the Client, the Client's agents and representatives, or any third-party data
source used in preparing or presenting this study. Moffatt & Nichol assumes no duty to update the
information contained herein unless it is separately retained to do so pursuant to a written agreement signed
by Moffatt & Nichol and the Client.
Moffatt & Nichol’s findings represent its professional judgment. Neither Moffatt & Nichol nor its respective
affiliates, makes any warranty, expressed or implied, with respect to any information or methods disclosed
in this document. Any recipient of this document other than the Client, by their acceptance or use of this
document, releases Moffatt & Nichol and its affiliates from any liability for direct, indirect, consequential or
special loss or damage whether arising in contract, warranty (express or implied), tort or otherwise, and
irrespective of fault, negligence and strict liability.
This report may not to be used in conjunction with any public or private offering of securities, debt, equity,
or other similar purpose where it may be relied upon to any degree by any person other than the Client.
This study may not be used for purposes other than those for which it was prepared or for which prior
written consent has been obtained from Moffatt & Nichol.
Possession of this study does not carry with it the right of publication or the right to use the name of "Moffatt
& Nichol" in any manner without the prior written consent of Moffatt & Nichol. No party may abstract, excerpt
or summarise this report without the prior written consent of Moffatt & Nichol. Moffatt & Nichol has served
solely in the capacity of consultant and has not rendered any expert opinions in connection with the subject
matter hereof. Any changes made to the study, or any use of the study not specifically identified in the
agreement between the Client and Moffatt & Nichol or otherwise expressly approved in writing by Moffatt
& Nichol, shall be at the sole risk of the party making such changes or adopting such use.
This document was prepared solely for the use by the Client. No party may rely on this report except the
Client or a party so authorised by Moffatt & Nichol in writing (including, without limitation, in the form of a
reliance letter). Any party who is entitled to rely on this document may do so only on the document in its
entirety and not on any excerpt or summary. Entitlement to rely upon this document is conditioned upon
the entitled party accepting full responsibility and not holding Moffatt & Nichol liable in any way for any
impacts on the forecasts or the earnings from the project resulting from changes in "external" factors such
as changes in government policy, in the pricing of commodities and materials, price levels generally,
competitive alternatives to the project, the behaviour of consumers or competitors and changes in the
owners’ policies affecting the operation of their projects.
This document may include “forward-looking statements”. These statements relate to Moffatt & Nichol’s
expectations, beliefs, intentions or strategies regarding the future. These statements may be identified by
the use of words like “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,”
“should,” “seek,” and similar expressions. The forward-looking statements reflect Moffatt & Nichol’s views
and assumptions with respect to future events as of the date of this study and are subject to future economic
conditions, and other risks and uncertainties. Actual and future results and trends could differ materially
from those set forth in such statements due to various factors, including, without limitation, those discussed
in this study. These factors are beyond Moffatt & Nichol’s ability to control or predict. Accordingly, Moffatt
& Nichol makes no warranty or representation that any of the projected values or results contained in this
study will actually be achieved.
This study is qualified in its entirety by, and should be considered in light of, these limitations, conditions
and considerations.




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