Groasis Technology Compared to Drip Irrigation

1. Groasis Technology compared to drip irrigation with harvest / crop revenues note: this model does not take into account the full cost of a project, just the differences between using Groasis Waterboxes and drip irrigation. This document is a template with assumptions Please ensure that the assumptions are correct for your specific project Pieter Hoff phoff@aquaproholland.com +31 654 340 410 © This model is the intellectual property of AquaPro ‐ Holland

2. Remarks Groasis Technology in comparison with drip irrigation The project duration is 50 years as treeprojects (vines, olives,avocados, dates, etc.) always are longterm projects All costs independent from use of Groasis waterboxx or drip irrigation that are equal have not been accounted in this document, so this document does not show all costs of tree plantations As an example: the cost for a warehouse is not calculated, as for both systems one needs a warehouse This means that this document cannot be used as a template for tree planting calculations. It focuses only on the financial differences caused by the use of the Groasis Technology compared to drip irrigation Note: if column C in tab 'assumptions' states 1/0, complete calculation tab lines as following: Yes = 1, No = 0

3. Input unit single value PROJECT GENERICS Project duration years 50 Project size ha 500 Number of trees per hectare trees/ha 625 Cost of land (at start of project) EUR/ha 5,000 Value of land of drygrowing (at end of project) EUR/ha 25,000 Value of land of drip irrigated (at end of project) EUR/ha 20,000 inflation rate (cost only) % 3% starting year 2011 PROJECT PREPARATION costs of well per meter depth EUR/m 100 depth of well m 100 how many hectares per well ha/well 500 costs of digging grooves for main tube per meter EUR/m 1 meters groove per ha m/ha 100 costs of main tube per meter incl. connection to electric valves EUR/m 10 drip irrigation tube costs per meter EUR/m 1 number of tubes per hectare tubes/ha 25 length of tubes per ha m/ha 2,500 liters of water per tree per year l/tree/yr 1,500 price of water per liter EUR/l 0.001 price of pump incl. installation for 500 ha EUR 20,000 electricity network per 500 ha incl. installation EUR 50,000 electric valves incl. installation per ha EUR/ha 250 rows per electric valve per ha rows/valve/ha 5 rows per ha rows/ha 25 computer system incl. tools EUR 25,000 hectares per computer ha/computer 500 size of water pump kW 50 water pump costprice per kW EUR/kW 0.10 pump hours per year for 500ha hrs/yr 2,000 Tractor hours to install drip irrigation per ha hrs/ha 2 capillary drill cost EUR 35,000 costs of spraying machine EUR 50,000 Asset replacement info drip irrigation tube life yrs 12.5 drip irrigation tubes to be replaced in years 13, 26, 38 electric valve life yrs 12.5 electric valves to be replaced in years 13, 26, 38 water pump life yrs 25 pump to be replaced in years 26 computer system life yrs 25 computersystems to be replaced in years 26 main tube system life yrs 50 main tube system to be replaced in years ‐ Number of planting holes per capillary drill over life time holes/drill 1,000,000 Number of planting holes in project holes 312,500 Number of additional capillary drills needed drills 0 number of hectares of use of spraying machine ha 50,000 number of hectares spraying over project duration with waterboxx ha 250,000 number of hectares spraying over project duration with drip irrigation ha 500,000 number of spraying machine needed over project lifetime (waterboxx) machines 5 number of spraying machine needed over project lifetime (drip irrigation) machines 10 PROJECT PLANTING life time of planting with waterboxx yrs 50 number of replanting with waterboxx over project lifetime ‐ life time of planting with drip irrigation yrs 25 number of replanting with drip irrigation over project lifetime 1 tractor cost incl. driver for drilling planting holes EUR/hr 50 planting holes per hour 120 costs per man hour EUR/hr 10 planting minutes per tree including assembling waterboxx min/tree 3 planting minutes per tree drip irrigation min/tree 2 man hours to install drip irrigation tubes per row hr/row 2 man hours to install electric valves per row hr/row 1 minutes per tree removing waterboxx after one year min/tree 2

4. Input unit single value Groasis waterbox ownership model lease Costs of waterboxx EUR/box 5 Residual value of waterbox % 90% Number of years to use the waterboxx yrs 10 planting material selected for project seed costs of planting material for waterboxx from seed EUR/seed 0.20 costs of planting material for waterboxx from cutling EUR/cutling 0.30 costs of planting material for waterboxx from cutling plus graft EUR/cutling+graft 1.00 costs of planting material for drip irrigation from seed EUR/seed 0.75 costs of planting material for drip irrigation from cutling EUR/cutling 1.00 costs of planting material for drip irrigationfrom cutling plus graft EUR/cutling+graft 2.00 first time planting with waterboxx year 1 first time planting with drip irrigation year 1 amount of water put in waterboxx after planting l/waterboxx 20 ANNUAL MAINTENANCE man hours of maintenance of drip irrigation tubes hr/ha/yr 10 Cost of fungicide to control root diseases EUR/kg 25 fungicide to control root diseases with waterboxx kg/ha/yr ‐ fungicide to control root diseases with drip irrigation kg/ha/yr 20 Cost of fungicide to control leaf diseases EUR/kg 25 fungicide to control leaf diseases with waterboxx kg/ha/yr 10 fungicide to control leaf diseases with drip irrigation kg/ha/yr 20 fertilizer requirements (drip irrigation only) kg/ha/yr 500 Cost of fertilizer EUR/kg 0.5 mycorrhizae requirements (waterboxx only) kg/ha/yr 10 Cost of mycorrhizae EUR/kg 25 tractor hours of treating funguses of leaves hours/ha/treatment 1 fungus treatments per year with waterboxx 10 fungus treatments per year with drip irrigation 20 HARVESTING duration of non productivity after replanting with waterboxx yrs 5 duration of of non productivity after replanting with drip irrigation yrs 3 duration of of non productivity with waterboxx over project lifetime yrs 5 duration of non productivity with drip irrigation over project lifetime yrs 6 duration of productivity with waterboxx over project lifetime yrs 45 duration of productivity with drip irrigation over project lifetime yrs 44 harvestable production with waterboxx kg/ha/yr 4,000 harvestable production with drip irrigation kg/ha/yr 6,000 harvesting costs EUR/kg 0.20 harvest revenue with waterboxx (Y=1) EUR/kg 2.20 harvest revenue with drip irrigation (Y=1) EUR/kg 2.00 inflation rate of revenues % 1.00% FINANCIAL STRUCTURE Cost of capital % 7%

5. Key financial indicators Waterboxx Drip Irrigation Net Present Value (NPV) million EUR 26.62 21.15 Internal Rate of Return (IRR) % 22.1% 23.4% Capital employed million EUR (4.64) (5.50) Payback (break even) years 7 5 Key charts Net present value (NPV) is the total present value of a time series of cash flows; it measures the excess or shortfall of cash flows, in present value terms, once financing charges are met. NPV is an indicator of how much value an investment or project adds for the investor; it is an indicator of the value or magnitude of an investment. The internal rate of return (IRR) is a rate of return used to measure and compare the profitability of investments. The internal rate of return on an investment is the annualized effective compounded return rate that can be earned on the invested capital; it is the interest rate at which the costs of the investment lead to the benefits of the investment. This means that all gains from the investment are inherent to the time value of money and that the investment has a zero net present value at this interest rate. IRR is an indicator of the efficiency, quality, or yield of an investment. Capital employed represents the capital investment necessary for the project. Payback period refers to the period of time required for the return on an investment to "repay" the sum of the original investment (capital employed). Comparison of annual costs -14,000,000 -12,000,000 -10,000,000 -8,000,000 -6,000,000 -4,000,000 -2,000,000 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 Year Costs(EUR/yr) Waterbox annual costs Drip irrigation annual costs Comparison of annual revenues 0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 Year Revenues(EUR/yr) Waterbox annual revenues Drip irrigation annual revenues Comparison of cumulative free cash flow -20,000,000 0 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 120,000,000 140,000,000 160,000,000 180,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 Year Cumulativefreecashflow(EUR) Waterbox cumulative free cash flow Drip irrigation cumulative free cash flow Comparison of discounted free cash flow -8,000,000 -6,000,000 -4,000,000 -2,000,000 0 2,000,000 4,000,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 Year Discountedfreecashflow(EUR) Waterbox free cash flow (discounted) Drip irrigation free cash flow (discounted)

6. WATERBOXX SCENARIO annual inflation (costs) 1.030 1.061 1.093 1.126 1.159 1.194 1.230 1.267 1.305 1.344 1.384 1.426 1.469 annual inflation (revenues) 1.010 1.020 1.030 1.041 1.051 1.062 1.072 1.083 1.094 1.105 1.116 1.127 1.138 project active yes/no 1 1 1 1 1 1 1 1 1 1 1 1 1 year of operation 1 2 3 4 5 6 7 8 9 10 11 12 13 Units Total 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Cash flow PROJECT PREPARATION COSTS costs of land purchase EUR 2,575,000 2,575,000 capillary drill cost EUR 36,050 36,050 spraying machine cost EUR 51,500 51,500 capillary drill replaced? Yes/No 0 0 0 0 0 0 0 0 0 0 0 0 0 replacement of capillary drill EUR ‐ 0 0 0 0 0 0 0 0 0 0 0 0 0 spraying machine replaced? Yes/No 0 0 0 0 0 0 0 0 0 0 1 0 0 replacement of spraying machine EUR 455,225 0 0 0 0 0 0 0 0 0 0 69,212 0 0 PROJECT PLANTING COSTS waterboxx planting? Yes/No 1 0 0 0 0 0 0 0 0 0 0 0 0 tractor cost incl. driver for planting holes EUR 134,115 134,115 0 0 0 0 0 0 0 0 0 0 0 0 tree planting cost including assembling waterboxx EUR 160,938 160,938 0 0 0 0 0 0 0 0 0 0 0 0 Costs of waterboxx EUR 1,609,375 1,609,375 0 0 0 0 0 0 0 0 0 0 0 0 costs of planting material for waterboxx EUR 64,375 64,375 0 0 0 0 0 0 0 0 0 0 0 0 price of water for initial water in boxes EUR 6,438 6,438 0 0 0 0 0 0 0 0 0 0 0 0 waterboxx removal? Yes/No 0 1 0 0 0 0 0 0 0 0 0 0 0 cost of removing waterboxx after one year EUR 110,510 0 110,510 0 0 0 0 0 0 0 0 0 0 0 ANNUAL MAINTENANCE COSTS Cost of fungicide to control leaf diseases EUR 29,045,193 257,500 265,225 273,182 281,377 289,819 298,513 307,468 316,693 326,193 335,979 346,058 356,440 367,133 Cost of mycorrhizae EUR 14,522,597 128,750 132,613 136,591 140,689 144,909 149,257 153,734 158,346 163,097 167,990 173,029 178,220 183,567 Cost of tractor for treating funguses of leaves EUR 29,045,193 257,500 265,225 273,182 281,377 289,819 298,513 307,468 316,693 326,193 335,979 346,058 356,440 367,133 HARVESTING COSTS Harvesting? Yes/No 0 0 0 0 0 1 1 1 1 1 1 1 1 harvesting costs EUR 44,284,945 0 0 0 0 0 477,621 491,950 506,708 521,909 537,567 553,694 570,304 587,413 TOTAL COSTS EUR 122,101,454‐ -5,281,540 -773,573 -682,954 -703,443 -724,546 -1,223,904 -1,260,621 -1,298,439 -1,337,393 -1,377,514 -1,488,051 -1,461,405 -1,505,247 REVENUES sale of used capillary drill EUR 21,000 0 21,000 0 0 0 0 0 0 0 0 0 0 0 sale of used waterboxxes (if purchase option selected) EUR ‐ 0 0 0 0 0 0 0 0 0 0 0 0 0 harvest revenue with waterboxx EUR 263,805,515 0 0 0 0 0 4,670,689 4,717,396 4,764,570 4,812,215 4,860,337 4,908,941 4,958,030 5,007,610 project end land value EUR 12,500,000 TOTAL REVENUES EUR 276,326,515 0 21,000 0 0 0 4,670,689 4,717,396 4,764,570 4,812,215 4,860,337 4,908,941 4,958,030 5,007,610 FREE CASH FLOW EUR 154,225,061 -5,281,540 -752,573 -682,954 -703,443 -724,546 3,446,785 3,456,775 3,466,130 3,474,823 3,482,823 3,420,889 3,496,625 3,502,363 DISCOUNTED FREE CASH FLOW EUR 26,618,461 -4,936,018 -657,326 -557,494 -536,653 -516,591 2,296,738 2,152,706 2,017,319 1,890,073 1,770,491 1,625,240 1,552,543 1,453,356 CUMULATIVE FREE CASH FLOW EUR 154,225,061 -5,281,540 -6,034,113 -6,717,067 -7,420,510 -8,145,056 -4,698,271 -1,241,496 2,224,634 5,699,457 9,182,280 12,603,169 16,099,794 19,602,158

7. 1.513 1.558 1.605 1.653 1.702 1.754 1.806 1.860 1.916 1.974 2.033 2.094 2.157 2.221 2.288 2.357 2.427 2.500 2.575 2.652 1.149 1.161 1.173 1.184 1.196 1.208 1.220 1.232 1.245 1.257 1.270 1.282 1.295 1.308 1.321 1.335 1.348 1.361 1.375 1.389 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 93,015 0 0 0 0 0 0 0 0 0 125,004 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 378,147 389,492 401,177 413,212 425,608 438,377 451,528 465,074 479,026 493,397 508,199 523,444 539,148 555,322 571,982 589,141 606,816 625,020 643,771 663,084 189,074 194,746 200,588 206,606 212,804 219,188 225,764 232,537 239,513 246,698 254,099 261,722 269,574 277,661 285,991 294,571 303,408 312,510 321,885 331,542 378,147 389,492 401,177 413,212 425,608 438,377 451,528 465,074 479,026 493,397 508,199 523,444 539,148 555,322 571,982 589,141 606,816 625,020 643,771 663,084 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 605,036 623,187 641,883 661,139 680,973 701,402 722,444 744,118 766,441 789,435 813,118 837,511 862,637 888,516 915,171 942,626 970,905 1,000,032 1,030,033 1,060,934 -1,550,404 -1,596,917 -1,644,824 -1,694,169 -1,744,994 -1,797,344 -1,851,264 -1,999,817 -1,964,006 -2,022,926 -2,083,614 -2,146,122 -2,210,506 -2,276,821 -2,345,126 -2,415,480 -2,487,944 -2,687,586 -2,639,460 -2,718,644 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,057,687 5,108,263 5,159,346 5,210,939 5,263,049 5,315,679 5,368,836 5,422,525 5,476,750 5,531,517 5,586,832 5,642,701 5,699,128 5,756,119 5,813,680 5,871,817 5,930,535 5,989,841 6,049,739 6,110,236 5,057,687 5,108,263 5,159,346 5,210,939 5,263,049 5,315,679 5,368,836 5,422,525 5,476,750 5,531,517 5,586,832 5,642,701 5,699,128 5,756,119 5,813,680 5,871,817 5,930,535 5,989,841 6,049,739 6,110,236 3,507,282 3,511,347 3,514,522 3,516,771 3,518,055 3,518,336 3,517,572 3,422,708 3,512,744 3,508,591 3,503,218 3,496,578 3,488,622 3,479,298 3,468,554 3,456,337 3,442,591 3,302,254 3,410,279 3,391,593 1,360,184 1,272,674 1,190,490 1,113,320 1,040,866 972,849 909,007 826,629 792,873 740,126 690,648 644,242 600,725 559,925 521,678 485,833 452,243 405,428 391,299 363,696 23,109,440 26,620,786 30,135,308 33,652,079 37,170,134 40,688,470 44,206,042 47,628,750 51,141,494 54,650,085 58,153,303 61,649,882 65,138,503 68,617,801 72,086,356 75,542,693 78,985,284 82,287,538 85,697,817 89,089,410

8. 2.732 2.814 2.898 2.985 3.075 3.167 3.262 3.360 3.461 3.565 3.671 3.782 3.895 4.012 4.132 4.256 4.384 1.403 1.417 1.431 1.445 1.460 1.474 1.489 1.504 1.519 1.534 1.549 1.565 1.580 1.596 1.612 1.628 1.645 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 167,995 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 682,976 703,466 724,570 746,307 768,696 791,757 815,509 839,975 865,174 891,129 917,863 945,399 973,761 1,002,974 1,033,063 1,064,055 1,095,977 341,488 351,733 362,285 373,153 384,348 395,878 407,755 419,987 432,587 445,565 458,932 472,699 486,880 501,487 516,531 532,027 547,988 682,976 703,466 724,570 746,307 768,696 791,757 815,509 839,975 865,174 891,129 917,863 945,399 973,761 1,002,974 1,033,063 1,064,055 1,095,977 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1,092,762 1,125,545 1,159,311 1,194,091 1,229,913 1,266,811 1,304,815 1,343,960 1,384,278 1,425,807 1,468,581 1,512,638 1,558,017 1,604,758 1,652,901 1,702,488 1,753,562 -2,800,203 -2,884,209 -2,970,735 -3,059,857 -3,151,653 -3,246,203 -3,343,589 -3,611,891 -3,547,213 -3,653,630 -3,763,239 -3,876,136 -3,992,420 -4,112,192 -4,235,558 -4,362,625 -4,493,504 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6,171,339 6,233,052 6,295,383 6,358,336 6,421,920 6,486,139 6,551,000 6,616,510 6,682,676 6,749,502 6,816,997 6,885,167 6,954,019 7,023,559 7,093,795 7,164,733 7,236,380 12,500,000 6,171,339 6,233,052 6,295,383 6,358,336 6,421,920 6,486,139 6,551,000 6,616,510 6,682,676 6,749,502 6,816,997 6,885,167 6,954,019 7,023,559 7,093,795 7,164,733 19,736,380 3,371,136 3,348,843 3,324,647 3,298,479 3,270,267 3,239,936 3,207,412 3,004,619 3,135,462 3,095,873 3,053,759 3,009,032 2,961,599 2,911,367 2,858,237 2,802,108 15,242,876 337,853 313,662 291,025 269,845 250,034 231,510 214,192 187,523 182,887 168,764 155,578 143,270 131,787 121,076 111,090 101,784 517,461 92,460,546 95,809,389 99,134,037 102,432,516 105,702,782 108,942,719 112,150,130 115,154,750 118,290,212 121,386,084 124,439,843 127,448,875 130,410,474 133,321,841 136,180,077 138,982,185 154,225,061

9. DRIP IRRIGATION SCENARIO annual inflation 1.0300 1.0609 1.0927 1.1255 1.1593 1.1941 1.2299 1.2668 1.3048 1.3439 1.3842 1.4258 1.4685 1.5126 1.5580 annual inflation (revenues) 1.010 1.020 1.030 1.041 1.051 1.062 1.072 1.083 1.094 1.105 1.116 1.127 1.138 1.149 1.161 project active yes/no 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 year of operation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Units Total 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Cash flow PROJECT PREPARATION COSTS costs of land purchase EUR 2,575,000 2,575,000 costs of well EUR 10,300 10,300 costs of digging grooves EUR 51,500 51,500 costs of main tubes EUR 515,000 515,000 drip irrigation tube costs EUR 1,287,500 1,287,500 price of pump EUR 20,600 20,600 cost of electricity network EUR 51,500 51,500 cost of electric valves EUR 128,750 128,750 computer system incl. tools EUR 25,750 25,750 Tractor hours to install drip irrigation EUR 51,500 51,500 costs of spraying machine EUR 51,500 51,500 Drip irrigation tubes replaced? Yes/No 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 Cost for replacement of drip irrigation tubes EUR 10,384,858 0 0 0 0 0 0 0 0 0 0 0 0 2,276,227 0 0 Electrical valves replaced? Yes/No 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 Cost for replacement of electric valves EUR 1,674,977 0 0 0 0 0 0 0 0 0 0 0 0 367,133 0 0 Pumps replaced? Yes/No 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Cost for replacement of pumps EUR 43,132 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Computer system replaced? Yes/No 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Cost for replacement of computersystems EUR 53,915 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Main tube system replaced? Yes/No 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Cost for replacement of main tube system EUR ‐ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 spraying machine replaced? Yes/No 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 Cost for replacement of spraying machine EUR 1,042,659 0 0 0 0 0 59,703 0 0 0 0 69,212 0 0 0 0 PROJECT PLANTING COSTS Planting? Yes/No 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 tree planting cost drip irrigation EUR 331,937 107,292 0 0 0 0 0 0 0 0 0 0 0 0 0 0 man hours to install drip irrigation tubes EUR 796,648 257,500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 man hours to install electric valves EUR 398,324 128,750 0 0 0 0 0 0 0 0 0 0 0 0 0 0 costs of planting material for drip irrigation EUR 746,857 241,406 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ANNUAL MAINTENANCE COSTS price of water for drip irrigation EUR 54,459,737 482,813 497,297 512,216 527,582 543,410 559,712 576,503 593,798 611,612 629,961 648,860 668,325 688,375 709,026 730,297 cost of electricity for pump EUR 1,161,808 10,300 10,609 10,927 11,255 11,593 11,941 12,299 12,668 13,048 13,439 13,842 14,258 14,685 15,126 15,580 cost of maintenance of drip irrigation tubes EUR 5,809,039 51,500 53,045 54,636 56,275 57,964 59,703 61,494 63,339 65,239 67,196 69,212 71,288 73,427 75,629 77,898 Cost of fungicide to control root diseases EUR 29,045,193 257,500 265,225 273,182 281,377 289,819 298,513 307,468 316,693 326,193 335,979 346,058 356,440 367,133 378,147 389,492 Cost of fungicide to control leaf diseases EUR 29,045,193 257,500 265,225 273,182 281,377 289,819 298,513 307,468 316,693 326,193 335,979 346,058 356,440 367,133 378,147 389,492 Cost of fertilizer EUR 14,522,597 128,750 132,613 136,591 140,689 144,909 149,257 153,734 158,346 163,097 167,990 173,029 178,220 183,567 189,074 194,746 Cost of tractor for treating funguses of leaves EUR 58,090,387 515,000 530,450 546,364 562,754 579,637 597,026 614,937 633,385 652,387 671,958 692,117 712,880 734,267 756,295 778,984 HARVESTING COSTS Harvesting? Yes/No 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 harvesting costs EUR 63,678,818 0 0 0 675,305 695,564 716,431 737,924 760,062 782,864 806,350 830,540 855,457 881,120 907,554 934,780 TOTAL COSTS EUR 276,054,979‐ -7,207,210 -1,754,463 -1,807,097 -2,536,615 -2,612,714 -2,750,798 -2,771,828 -2,854,983 -2,940,633 -3,028,852 -3,188,929 -3,213,309 -5,953,069 -3,408,999 -3,511,269 REVENUES harvest revenue with drip irrigation EUR 348,500,456 0 0 0 6,243,624 6,306,060 6,369,121 6,432,812 6,497,140 6,562,112 6,627,733 6,694,010 6,760,950 6,828,560 6,896,845 6,965,814 project end land value EUR 10,000,000 TOTAL REVENUES EUR 358,500,456 0 0 0 6,243,624 6,306,060 6,369,121 6,432,812 6,497,140 6,562,112 6,627,733 6,694,010 6,760,950 6,828,560 6,896,845 6,965,814 FREE CASH FLOW EUR 82,445,477 -7,207,210 -1,754,463 -1,807,097 3,707,009 3,693,346 3,618,323 3,660,984 3,642,157 3,621,479 3,598,881 3,505,081 3,547,642 875,491 3,487,846 3,454,545 DISCOUNTED FREE CASH FLOW EUR 21,152,948 -6,735,711 -1,532,416 -1,475,130 2,828,059 2,633,305 2,411,041 2,279,877 2,119,769 1,969,845 1,829,489 1,665,239 1,575,195 363,298 1,352,647 1,252,086 CUMULATIVE FREE CASH FLOW EUR 82,445,477 -7,207,210 -8,961,674 -10,768,771 -7,061,762 -3,368,416 249,907 3,910,891 7,553,048 11,174,527 14,773,408 18,278,489 21,826,131 22,701,622 26,189,468 29,644,013

10. 1.6047 1.6528 1.7024 1.7535 1.8061 1.8603 1.9161 1.9736 2.0328 2.0938 2.1566 2.2213 2.2879 2.3566 2.4273 2.5001 2.5751 2.6523 2.7319 2.8139 2.8983 2.9852 1.173 1.184 1.196 1.208 1.220 1.232 1.245 1.257 1.270 1.282 1.295 1.308 1.321 1.335 1.348 1.361 1.375 1.389 1.403 1.417 1.431 1.445 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,342,716 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 539,148 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 43,132 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 53,915 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 80,235 0 0 0 0 93,015 0 0 0 0 107,830 0 0 0 0 125,004 0 0 0 0 144,914 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 224,645 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 539,148 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 269,574 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 505,451 0 0 0 0 0 0 0 0 0 0 0 752,206 774,772 798,015 821,956 846,615 872,013 898,173 925,119 952,872 981,458 1,010,902 1,041,229 1,072,466 1,104,640 1,137,779 1,171,913 1,207,070 1,243,282 1,280,581 1,318,998 1,358,568 1,399,325 16,047 16,528 17,024 17,535 18,061 18,603 19,161 19,736 20,328 20,938 21,566 22,213 22,879 23,566 24,273 25,001 25,751 26,523 27,319 28,139 28,983 29,852 80,235 82,642 85,122 87,675 90,306 93,015 95,805 98,679 101,640 104,689 107,830 111,064 114,396 117,828 121,363 125,004 128,754 132,617 136,595 140,693 144,914 149,261 401,177 413,212 425,608 438,377 451,528 465,074 479,026 493,397 508,199 523,444 539,148 555,322 571,982 589,141 606,816 625,020 643,771 663,084 682,976 703,466 724,570 746,307 401,177 413,212 425,608 438,377 451,528 465,074 479,026 493,397 508,199 523,444 539,148 555,322 571,982 589,141 606,816 625,020 643,771 663,084 682,976 703,466 724,570 746,307 200,588 206,606 212,804 219,188 225,764 232,537 239,513 246,698 254,099 261,722 269,574 277,661 285,991 294,571 303,408 312,510 321,885 331,542 341,488 351,733 362,285 373,153 802,353 826,424 851,217 876,753 903,056 930,147 958,052 986,793 1,016,397 1,046,889 1,078,296 1,110,645 1,143,964 1,178,283 1,213,631 1,250,040 1,287,541 1,326,168 1,365,953 1,406,931 1,449,139 1,492,613 1 1 1 1 1 1 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 962,824 991,709 1,021,460 1,052,104 1,083,667 1,116,177 1,149,662 1,184,152 1,219,676 1,256,267 1,293,955 0 0 0 1,456,357 1,500,048 1,545,050 1,591,401 1,639,143 1,688,317 1,738,967 1,791,136 -3,696,842 -3,725,105 -3,836,859 -3,951,964 -4,070,523 -4,285,654 -4,318,418 -4,447,971 -4,581,410 -4,718,852 -10,485,976 -3,673,457 -3,783,660 -3,897,170 -5,470,443 -5,759,560 -5,803,593 -5,977,701 -6,157,032 -6,341,743 -6,676,909 -6,727,955 7,035,472 7,105,827 7,176,885 7,248,654 7,321,140 7,394,352 7,468,295 7,542,978 7,618,408 7,694,592 7,771,538 0 0 0 8,087,093 8,167,964 8,249,644 8,332,141 8,415,462 8,499,617 8,584,613 8,670,459 7,035,472 7,105,827 7,176,885 7,248,654 7,321,140 7,394,352 7,468,295 7,542,978 7,618,408 7,694,592 7,771,538 0 0 0 8,087,093 8,167,964 8,249,644 8,332,141 8,415,462 8,499,617 8,584,613 8,670,459 3,338,629 3,380,721 3,340,026 3,296,689 3,250,617 3,108,698 3,149,877 3,095,008 3,036,998 2,975,740 -2,714,438 -3,673,457 -3,783,660 -3,897,170 2,616,651 2,408,404 2,446,051 2,354,440 2,258,430 2,157,874 1,907,704 1,942,504 1,130,909 1,070,250 988,193 911,562 840,021 750,791 710,969 652,882 598,734 548,278 -467,414 -591,171 -569,071 -547,797 343,742 295,687 280,663 252,478 226,338 202,113 166,992 158,914 32,982,642 36,363,364 39,703,390 43,000,079 46,250,696 49,359,395 52,509,272 55,604,279 58,641,277 61,617,017 58,902,579 55,229,123 51,445,462 47,548,292 50,164,943 52,573,347 55,019,398 57,373,838 59,632,269 61,790,143 63,697,847 65,640,351

11. 3.0748 3.1670 3.2620 3.3599 3.4607 3.5645 3.6715 3.7816 3.8950 4.0119 4.1323 4.2562 4.3839 1.460 1.474 1.489 1.504 1.519 1.534 1.549 1.565 1.580 1.596 1.612 1.628 1.645 1 1 1 1 1 1 1 1 1 1 1 1 1 38 39 40 41 42 43 44 45 46 47 48 49 50 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 1 0 0 0 0 0 0 0 0 0 0 0 0 4,765,914 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 768,696 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 167,995 0 0 0 0 194,752 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,441,305 1,484,544 1,529,080 1,574,953 1,622,201 1,670,867 1,720,993 1,772,623 1,825,802 1,880,576 1,936,993 1,995,103 2,054,956 30,748 31,670 32,620 33,599 34,607 35,645 36,715 37,816 38,950 40,119 41,323 42,562 43,839 153,739 158,351 163,102 167,995 173,035 178,226 183,573 189,080 194,752 200,595 206,613 212,811 219,195 768,696 791,757 815,509 839,975 865,174 891,129 917,863 945,399 973,761 1,002,974 1,033,063 1,064,055 1,095,977 768,696 791,757 815,509 839,975 865,174 891,129 917,863 945,399 973,761 1,002,974 1,033,063 1,064,055 1,095,977 384,348 395,878 407,755 419,987 432,587 445,565 458,932 472,699 486,880 501,487 516,531 532,027 547,988 1,537,392 1,583,513 1,631,019 1,679,949 1,730,348 1,782,258 1,835,726 1,890,798 1,947,522 2,005,948 2,066,126 2,128,110 2,191,953 1 1 1 1 1 1 1 1 1 1 1 1 1 1,844,870 1,900,216 1,957,223 2,015,939 2,076,418 2,138,710 2,202,871 2,268,958 2,337,026 2,407,137 2,479,351 2,553,732 2,630,344 -12,464,404 -7,137,687 -7,351,818 -7,740,367 -7,799,543 -8,033,530 -8,274,536 -8,522,772 -8,973,207 -9,041,808 -9,313,063 -9,592,455 -9,880,228 8,757,163 8,844,735 8,933,182 9,022,514 9,112,739 9,203,867 9,295,905 9,388,864 9,482,753 9,577,581 9,673,356 9,770,090 9,867,791 10,000,000 8,757,163 8,844,735 8,933,182 9,022,514 9,112,739 9,203,867 9,295,905 9,388,864 9,482,753 9,577,581 9,673,356 9,770,090 19,867,791 -3,707,240 1,707,048 1,581,365 1,282,147 1,313,196 1,170,337 1,021,370 866,093 509,546 535,772 360,294 177,635 9,987,563 -283,444 121,977 105,604 80,021 76,597 63,798 52,035 41,238 22,674 22,281 14,003 6,452 339,055 61,933,111 63,640,159 65,221,524 66,503,671 67,816,867 68,987,204 70,008,574 70,874,666 71,384,213 71,919,985 72,280,279 72,457,914 82,445,477

12. Risk analysis Groasis Technology Drip irrigation if growing on rocks lower investment in soil higher investment in soil if growing on rocks lower interest costs on capital investment in soil higher capital costs No inflation of costs risk inflation of costs risk no risk of higher costs for energy risk of higher energy cost no risk of lack of availability of ground water risk of lack of groundwater no risk caused by political decisions risk of political decisions no risk on ban on use of groundwater risk on ban on use of groundwater if cities have lack of water during periods of drought no risk on brackish water problems heavy use of drip irrigation may lead to brackish groundwater, already many areas world wide have been left for this reason no risk on losing crop if use of groundwater is banned risk of losing crop if irrigation is banned, this might happen with a severe drought when cities get priority. This might happen in the coming 100 years as a cause of climate change no risk of rising prices of irrigation water water price per liter will rise considerably, when price rises from 0,001 euro to 0,01 euro per liter (cost comparison cel J15) the cost of water rises to 625,000 euro (cost comparison cel G9). Drip irrigation production will then give a loss No risk on soil salination if irrigation water contains minerals and/or salt, over time the soil will be polluted and also too salted to produce and turn into unusable eternally. This is undoubtedly the case with water from natural sources with high mineral levels, from cleaned sewage water sources of produced from seawater through the reversed osmosis technology. Several formerly fertile zones in California have now been abandoned for this reason. Many cities in the Middle East start to replace the soil where trees are dying as raising the water gift doesn't help anymore. The certain capital loss caused by this reason is unimaginable high and cannot be solved others than by higher water gifts until the conductivity of the soil is higher than that of the roots. Once this level has been reached the plants will die because of draught even if the roots are surrounded by water.See photo.

13. Other capacities Groasis Technology Drip irrigation growing on rocks possible growing on rocks not possible sustainable - only in the first year water is used between 20 to 100 liters depending from the growing place not sustainable - plants are eternally irrigated with scarce goundwater or expensive filtered water through reversed osmosis. Trees in cities in Middle East receive daily 60 to 100 liters per day. This is average 2,920,000 liters in 100 years. Vines receive between 800 to 1,400 liters per year per plant. This is average 110,000 liters per plant in 100 years. As soon as water is priced, this way of producing is outdated. less fungicide use = less risk for personel high fungicide use = higher risk for personel higher product quality level lower product quality level higher sales price for the product because of better internal and external quality lower sales price eco label possible eco label not possible less complicated management complicated management less crop means less wear of machinery/ less use of energy/ less packing material/ lower transportcosts/ etc. / these differences in lower costs are not taken into account in this template double crop means double wear of machinery/ double use of energy in warehouses/ double packing material/ double transportcosts/ etc. / these differences in higher costs are not taken into account in this template less crop means necessity of smaller buildings and smaller refrigidator / these differences in costs are not taken into account double crop means necessity of bigger buildings and bigger refrigidator / these differences in costs are not taken into account applying waterboxx can be done with low educated people and as the work itself is light, with possibly with females applying computerized high tech irrigation demands higher educated personel, so less chances for low educated people As applying the technology is heavy work, this work is less appropriate for females

14. Legend 25 trees per row 25 rows 625 trees total Planting scheme (the grid below represents 1ha, 100m x 100m) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 Potential planting scheme for 1 ha

Groasis Technology Compared to Drip Irrigation

Groasis Technology Compared to Drip Irrigation

Groasis Technology Compared to Drip Irrigation

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Groasis Technology Compared to Drip Irrigation