WHALE WATCHING TOURS PUERTO PIRÁMIDES PENÍNSULA VALDÉS

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2013 SEASON RATES WHALE WATCHING TOURS PUERTO PIRÁMIDES PENÍNSULA VALDÉS

SOUTHERN SPIRIT REGULAR TRIPS RIBs: Zeus and Islas Malvinas Argentinas MAXIMUM CAPACITY PER TRIP: 60 passengers OPERATING SEASON: 15 th June to 15 th December DEPARTURES: Daily TRIP DURATION: 1 and ½ hours of navigation FREQUENCIES: June, July and August: at 10:00, 12:00, 14:00 and 16:00. September and October: at 9:30, 11:30, 13:30, 15:30 and Sunset at 17:30. November: at 9:30, 11:30, 13:30, 15:30 and Sunset at 18:00/18:30. December: at 9:30, 11:30, 16:00 and Sunset at 19:00. Long weekend in August (17-18-19): - Zeus: at 10:00, 12:00, 14:00 y 16:00 hs. - Islas Malvinas Argentinas: at 9:00, 11:00, 13:00 and 15:00. Long weekend in October (12-13-14): - Zeus: at 8:00, 10:00, 12:00, 14:00, 16:00 and Sunset at 18:00. - Islas Malvinas Argentinas: at 9:00, 11:00, 13:00, 15:00 and 17:00. LOW SEASON (15 th June up to 31 st August) RACK RATES PER PASSENGER Adult Junior Child Regular trip AR $ 370,00 AR $ 180,00 AR $ 0 HIGH SEASON (1 st September up to 15 th December) Adult Junior Child Regular trip AR $ 490,00 AR $ 2450,00 AR $ 0 Sunset AR $ 750,00 AR $ 375,00 AR $ 0 2

Adult: passenger older than 12 years old. Junior: passenger between 4 and 12 years old. Child: passenger of 3 years old or younger. The rate includes: Navigation on the waters of the Golfo Nuevo departing from Puerto Pirámides to watch the southern right whale, together with sea lions and different seabirds which can also be found. Narration made by a bilingual guide/naturalist (English/Spanish). Safety equipment. VAT (10.5%). Note: All the rates are expressed in Argentine pesos; they include taxes and are subject to changes without prior notice. PRIVATE TOURS RATES Request a Quote. Rates vary depending on the season. The rate for private tours includes: Private vessel for the group. Navigation on the waters of the Golfo Nuevo departing from Puerto Pirámides to watch the southern right whale, together with sea lions and different seabirds which can also be found. Narration made by a bilingual guide/naturalist (English/Spanish). Safety equipment. VAT (10.5%). TOUR GUIDES The tour guides and leaders of groups with 10 passengers or more are free. 3

SOUTHERN SPIRIT REGULAR PROGRAM The Southern Spirit regular trip consists of the navigation in the waters of the Golfo Nuevo to watch the southern right whales. We offer comfortable RIB vessels built with latest boating technology and top safety equipment, chosen by passengers for their viewpoint and proximity to the animals. Puerto Pirámides NAVIGATION AREA Departures: Puerto Pirámides (northeast of Golfo Nuevo). Navigation area: an approximate range of 10 miles from the point of departure, depending on the position of the animals. VESSELS FEATURES More than 20 years of experience in whale watching on the Golfo Nuevo have proved that RIBs (rigid inflatable boats) are ideal vessels due to their operational flexibility and for being chosen by passengers for their viewpoint and proximity to the animals. Southern Spirit S.A. has designed two RIBs: Zeus and Ecoflash 4

ZEUS Length overall: 42 feet (12.80 metres) Beam overall: 15.25 feet (4.65 metres) Draft: 4.8 feet (1.46 metres) Hull material: FRP (Fibreglass Reinforced Plastic) Engine specification: 2 x 250 hp Evinrude Etc. Cruising speed: 25 knots Energy: 12 volts Maximum number of passengers: 60 ECOFLASH Length overall: 43 feet (11.9 metres) Beam overall: 10 feet (3 metres) Draft: 4.8 feet (1.46 metres) Hull material: Aluminium Engine specification: 2 x 250 hp Mercury Verado Cruising speed: 25 knots Energy: 12 volts Maximum number of passengers: 37 5

CREW ABOARD Captain (Professional Skipper) Mariner Bilingual guide (Spanish/English) SAFETY ON BOARD VHF radio Global Positioning System (GPS), radar, compass, echosounder and chip log System and equipment for fire fighting Life jackets for all passengers Life rafts RESERVATIONS Reservations must be requested through e-mail or telephone to Southern Spirit s Reservations Office. Phone: (+54) 280 4473043 or (+54) 9 280 4572551. E-mail: We will appreciate your sending us the following information: Number of passengers. Date and time of the trip requested. Do not forget to mention if any passenger is a child, a junior or a resident of Chubut Province, and if he/she needs special assistance for boarding. PAYMENTS Payments can only be made by a bank deposit or wire transfer to the account listed below in Argentine pesos or US dollars (the rate will be translated according to the US dollar selling exchange rate indicated by the Banco de la Nación Argentina on the date of payment). Banco Galicia: Branch: Puerto Madryn Current account in Argentine pesos: 3023-2 256-5 CBU (Unique Bank Code) of this account: 0070256220000003023255 Holder: Southern Spirit S.A. CUIT (Unique Code for Revenue Identification): 30-71055543-1 Once you have made the payment, please e-mail us the details of your company in order to issue the corresponding invoice (registered name, CUIT, address, telephone). 6

RESERVATIONS AND CANCELLATIONS POLICY Individual passengers: The confirmation of the reservation will operate once the total amount of the reservation is paid 30 days prior to the date of the trip, or 3 days after the reservation request if it has been made 30 days before the trip. In all cases, the services must be paid in full. Cancellations: - If the reservation is cancelled up to 15 days before our services are rendered, the total amount paid will be refunded, in which case only bank expanses, if any, will be deducted. - If the reservation is cancelled within the 15 days prior to the date the cruise is to sail, 100% of the total amount of the services requested will be deducted, waiving in this case any right to be refunded for the amount paid. Groups: The confirmation of the reservation requires the payment of 30% of the total amount of the reservation, which has to be made within 7 days after the referred reservation is made. All the reservations which have not been partially paid (30%) will be considered as a provisional reservation, in which case Southern Spirit S.A. will have the right to use of the corresponding places. The remaining amount of money to make up the total balance of the services requested must be paid at least 30 days before the date in which the group will take the service, or 7 days after the reservation request in case it has been made within 30 days prior to the date of the excursion. In all cases, the services must be paid in full. Cancellations: - If the reservation is cancelled within 48 hours before our services are rendered, the total amount paid will be refunded, in which case only bank expanses, if any, will be deducted. - If the reservation is cancelled within 24 to 48 hours before our services are rendered, Southern Spirit will refund 50% of the payment and bank expanses, if any, will be deducted. 7

- If the reservation is cancelled within the 24 hours prior to the date the cruise is to sail, 100% of the total amount of the services requested will be deducted, waiving in this case any right to be refunded for the amount paid. CONTINGENCIES POLICY In case contingencies arise hindering the normal operation of the schedule, the following steps will be taken. In case of adverse weather conditions: If adverse weather conditions arise before the day starts (closed port): Our Operations Department will keep the weather forecast updated everyday, and prepare a possible new program of the departures ready the day before the tour. Our company is permanently in contact with the Argentine Coast Guard (PNA), the institution in charge of authorising the operation of the port. Once PNA opens the port, the times originally assigned or previously agreed with the client will be respected. The clients (companies, direct passengers, etc.) will be constantly informed about the weather forecast and its operating conditions. This will surely ease the route map. When the tour is cancelled for unfavorable climate causing inconveniences to passengers, a new schedule will be offered according to available seats, or the total amount paid will be refunded without any penalty whatsoever. If the adverse weather conditions arise during the tour: The captain of the boat and the manager, both being responsible for the services quality, will evaluate together and decide according to their good judgment about the possibility of aborting the trip bearing in mind the passengers comfort. The captain must call off the tour if the Argentine Coast Guard so requires. If the navigation must be called off due to adverse weather conditions before 3/4 of the time planned had elapsed, a new program will be offered in following trips according to available seats, in which case no refunds will be made. In case the service must be cancelled after ¾ of the time planned had elapsed, the service will be considered rendered. Once the operating conditions are restored and the port is authorised by the PNA [Argentine Coast Guard], the original program will be resumed so as not to prompt delays in the schedule not affected by adverse weather conditions. Note: If the port is closed for half a day, when the navigation is resumed, the authorities will enable operators to use a second boat during the rest of the day. If the port is closed all day long, a second boat could be used the following day during all day. Both cases will clearly moderate the demand of passengers who could not make the navigation due to adverse weather conditions. 8

Reasons beyond the control of the company which impact the normal rendering of the services Latecomer groups who join the following group: The timetable originally assigned will be respected and the group delayed will be rescheduled in another departure of the same day, so as not to impact on the service of the rest of the passengers. Should there not be available departure times on that same day, the company will try to schedule again the excursion for another day, trying not to affect the service of the rest of the passengers. In case the parties could not come to an agreement, no refunds of the amounts paid are contemplated, regardless of the company s efforts to work out the inconvenience. Unexpected circumstances inherent to the company When elements that impact on the tour break down (engine of the vessel, tractor truck, trailer, pier, etc.) Passengers and agencies will be immediately informed of the situation. If the failure makes departure times to be modified, clients will be offered a re-schedule according to the following departures programmed considering the available seats. If the breakdown occurs in the vessel, it will be replaced using the second one. In all cases, when the rendition of the services is disturbed for unexpected circumstances inherent to the company, the total amount paid will be refunded. 9