233rd MONTHLY EDITION MAY/JUNE 2025 “Momentum Building Across Land, Sea & Sky”

Dear Members,

As we approach the halfway point of 2025, I’m excited to bring you a strong update filled with momentum across several of our key initiatives — from cruise line expansion to international infrastructure development.

We’re pleased to report continued strong interest in The FIRM International Cruise Lines, with 136 cabins pledged out of 565 available for sale on board VOYAGER. This brings us to nearly 25% of our target in less than three months.

In exciting news, we have re-engaged with one of the world’s largest funders, who, unbeknownst to us, had been conducting quiet due diligence across all our companies. They have now confirmed an intention to partner across multiple projects, including the cruise line, and have allocated funding capacity well above USD 1 billion. We are progressing cautiously, adhering to their protocols, and will share more in due course.

This month also brought renewed interest in our Vanua Levu International Airport Project in Fiji. Our global funder has formally requested documentation showing any Fijian Government consideration for the future airport.

We are assembling relevant reports and letters of support as part of our submission package. Should this proceed as planned, it will not only fast-track infrastructure but could catalyse surrounding economic development within our visionary, masterplanned 1,528-acre freehold beachfront community - Port Discovery, Fiji.

In related industry news, My?Cruises has launched a groundbreaking 371-day world voyage departing September 2026. With prices starting at just USD $99,990 per person, the journey covers all 7 continents and over 220 ports.

This product demonstrates the surging global demand for long-duration residential cruising, reinforcing the relevance of our strata-titled ownership model aboard The FIRM fleet.

We continue to explore creative funding models, including Australian alternatives to Singapore’s VCC structure—such as Managed Investment Schemes or Unit Trusts—to facilitate capital raising and monetise structured credit instruments. If you have expertise or interest in participating in these vehicles, we welcome your input.

We are finalising preparations for our next major investor update session. Invitations will be emailed in early June. For now, please ensure your contact details are current.

As always, thank you for your continued trust, support, and vision as we forge ahead into new territory, together.

Warm regards,
John Ibbitson
Chairman & Founder
The FIRM International Group of Companies