CRYO CONTAINERS ENGINEERED PAYLOAD ADVANTAGE Cryo Containers’ LNG Semi-Tanker Payback Model: 25.0 T Payload Semi-Tanker vs. 17.4 T ISO Container CC CRYO CONTAINERS www.cryocontainers.co.za Semi-Tanker · R1,800/T ISO Container · R2,586/T Net cumulative savings R0M0 R10M4,000 R20M8,000 R30M12,000 R40M16,000 R50M20,000 R60M24,000 R70M28,000 0Q1Year 1Year 3Year 5 Month 6 crossover Cumulative delivered logistics cost (ZAR millions) Cumulative delivered LNG volume (tonnes) Time horizon · operational milestones (5,000 T/yr) Initial CAPEX · Semi-Tanker: R3,500,000 Initial CAPEX · ISO Container: R1,560,000 ISO · R66.4M at Year 5 Semi-Tanker · R48.5M at Year 5 Month 6: Payback Crossover Point CAPEX premium fully amortized ≈ R7.9M cumulative · ≈ 2,450 T delivered CUMULATIVE NET OPEX SAVINGS: R59,400,000 over 15 years Already R17.9M ahead by Year 5 (net of CAPEX) SENSITIVITIES · CUMULATIVE NET SAVINGS Lower Utilization (2,500 T/yr) · payback month 12 Shorter Corridor (400 km) · payback month 18 Model assumptions Corridor route1,200 km round tripFixed R45,000 haulage tariff per trip Annual contract demand5,000 T LNG TAL65KL net payload25.0 T200 trips per year required T75 ISO net payload17.4 T288 trips per year required Net operational savingsR3,960,000 / year88 fewer trips per year Exchange rate baselineUSD/ZAR = 19.50ISO CAPEX USD 80k = R1,560,000 Asset operational lifespan15 years R59.4M is the gross OPEX saving: 88 trips × R45,000 × 15 years. Net of the R1.94M CAPEX premium it is R57.46M. Curves plot whole-trip cost at a constant 5,000 T/yr: R9.0M/yr semi-tanker vs R12.96M/yr ISO (R2,592/T effective, incl. rounding up to 288 whole trips). Payback in under 6 months.

OPEX Savings Sensitivity Matrix

Gross OPEX savings over 15 years · one variable flexed at a time

— UTILIZATION BASE CASE - R59.4M
Lower Utilization (2,500 T/yr)
— DISTANCE BASE · 1,200 km round-trip
Shorter Corridor (400 km round-trip)
— EXCHANGE RATE BASE · USD/ZAR 19.50
Stronger ZAR (USD/ZAR 16.00)
R20M R30M R40M R50M

One variable flexed per bar; all other inputs held at base case.
Haulage tariff (R45,000/trip at 1,200 km) assumed to scale proportionally with distance and USD/ZAR.

Cumulative Gross OPEX Savings
by Milestone

Base case · 88 fewer trips/yr × R45,000 tariff

R19,800,000
Year 5
R3.96M × 5
R39,600,000
Year 10
R3.96M × 10
BASE CASE OPTIMUM
R59,400,000
Year 15
R3.96M × 15

Net of the R1.94M CAPEX premium, Year 15 = R57.46M

Model Qualification & Exclusions

The R59.4M base case represents the maximum theoretical gross operational savings on a high-throughput 1,200 km corridor. The model explicitly excludes financing costs, asset depreciation profiles, and differential maintenance burdens between dedicated semi-trailers and skeletal ISO chassis combinations. Sensitivities will alter the payback crossover timeline.

Excluded from Model
Financing costs
Asset depreciation profiles
Differential maintenance burdens