May 25, 2015 Cork at a Crossroads

What is Arctic Fibre Subsea cable project that provides both transoceanic and domestic connectivity International: Backbone network connects Asia to Europe via the northwest passage Arctic: 14 communities connected by spurs in Nunavut, Canada and Alaska, 13 of which do not have fibre access 2

Network Map 3

Project Phases The construction of the network is taking place in three primary phases: – Phase 1 – Prudhoe Bay, Alaska to Nome, Alaska – Phase 2 – Japan to Nome BU – Phase 3 – Prudhoe Bay to Europe Traffic from six Phase 1 landings is backhauled from Prudhoe Bay over existing terrestrial facilities Yellow lines represent potential network extensions 4

Project Schedule Working with a private equity investor who is underwriting entire Phase 1 and equity of Phase 2 Arctic Fibre is currently in the process of selecting the vendor and contracting for the construction of Phase 1 Phase 1 will be constructed during summer of 2016 for RFS by end of 2016 Phase 2 targeted for RFS late 2017 Phase 3 targeted for RFS late

Network Design Provides connectivity between many of the worlds largest markets Asia-Europe Asia-North America Europe-North America Shortest route between East Asia and Western Europe Lowest latency Direct route between Asia and Europe Commercial advantages Low risk route High Speed Connectivity to the Arctic for the first time Current monopoly in Arctic

Why Ireland? Arctic Fibre was not initially planning on landing directly in Ireland Internet infrastructure development in Ireland caused us to evaluate the business case Relatively short spur into Ireland created a low enough hurdle rate to justify the additional expenditure at an early stage of the project 7

Ireland as a hub Drivers of Ireland’s development as a technology hub are well known: – Low tax rate – Temperate climate – Educated and English speaking workforce – Stable – ‘Open for Business’ – Infrastructure 8

Internet Infrastructure Infrastructure is an enabling force in driving Ireland as a technology hub Previous: Ireland as a spoke connecting to the Internet Future: Ireland as an Internet hub 9

Cork in the mix Increasingly a focal point for Internet Infrastructure Southern location ideal for international connectivity Natural network points for redundant connectivity outside of Dublin Growing terrestrial network connectivity This infrastructure is a catalysts for other Internet and economic development 10

11 Mike Cunningham Chief Executive Officer Thank you