BC Ferries passenger fare discounts

British Columbia Ferry Services Inc., 500-1321 Blanshard Street, Victoria, BC V8W 0B7 Tel (250) 978-1267 Fax (250) 978-1119 www.bcferries.com/bcfnews/

Note to newsrooms: For urgent media inquiries off-hours, call our emergency pager at (250) 516-7211.

For Immediate Release 15-039 August 21, 2015

BC FERRIES RELEASES FIRST QUARTER RESULTS 50% discounts on regular passenger fares coming this fall fleetwide at off-peak times

VICTORIA British Columbia Ferry Services Inc. (BC Ferries) released its first quarter results today. Net earnings for the first three months ended June 30, 2015 (the first quarter of fiscal 2016) were $18.8 million, compared to net earnings of $13.9 million in the first quarter of the previous year. These positive earnings reflect the results of favourable traffic and increased retail sales, among other contributing factors.

Along with releasing BC Ferries first quarter results at the Annual General Meeting of B.C. Ferry Authority and the Annual Public Meeting of British Columbia Ferry Services Inc., President and CEO Mike Corrigan also announced plans for a series of pricing promotions, starting next month with a 50 per cent discount on passenger fares during certain off-peak periods.

Across the system, passenger traffic increased 5.0 per cent and vehicle traffic increased 4.7

per cent, as compared to the first quarter last year. During the three months ended June 30, 2015, BC Ferries provided over 41,000 sailings, carrying over five million passengers and two million vehicles.

From September 8 to October 15, regular passenger fares will be discounted by 50 per cent

on off-peak days of the week and certain off-peak times of the day on the major and minor routes. From October 1 31, regular passenger fares will be discounted by 50 per cent on all sailings on the northern routes.

While we are uncertain how long this current growth in traffic will last, this promotion allows us an opportunity this fall to test variable pricing concepts in order to understand their impact on traffic trends, customer responses, and operations, said Mike Corrigan, BC Ferries President and CEO. This will help us gather information as we prepare pricing strategies for our Fare Flexibility and Digital Experience Initiative in 2017, which will make variable pricing a permanent part of our service delivery model. The fact that the positive trend in B.C. tourism and in our passenger traffic is going against the general trend in the Canadian economy makes it difficult to say exactly how long it will last, however we intend to leverage the resulting strong financial results to keep fare increases at approximately the rate of inflation, fund our $3 billion capital program to replace aging vessels, terminal and information technology infrastructure, as well as test variable pricing promotions for the remainder of this fiscal year, said Corrigan.

British Columbia Ferry Services Inc., 500-1321 Blanshard Street, Victoria, BC V8W 0B7 Tel (250) 978-1267 Fax (250) 978-1119 www.bcferries.com/bcfnews

In the first quarter of fiscal 2016, revenues increased by 2.2 per cent to $217.7 million, while operating expenses increased by 1.2 per cent to $184.6 million compared to the first quarter of the previous fiscal year. BC Ferries full financial statements, including notes and Managements Discussion and Analysis, are filed on SEDAR and will be available at www.sedar.com.

Under contract to the Province of British Columbia, BC Ferries is the service provider

responsible for the delivery of safe, efficient and dependable ferry service along coastal British Columbia.

- 30 - Backgrounder and Sailing Schedule for Pricing Promotion attached Media Contact: BC Ferries, Media Relations Victoria: (250) 978-1267

Customer Contact: Victoria: (250) 386-3431 Toll-free: 1-888-BCFERRY (1-888-223-3779)

BC Ferries is one of the largest ferry operators in the world based on passengers transported annually and transportation infrastructure, and carried 19.8 million passengers and 7.7 million vehicles during the fiscal year ended March 31, 2015. BC Ferries provides frequent year-round ferry transportation services to the west coast of Canada on 24 routes, currently supported by 34 vessels and 47 terminals, and also manages other remote routes through contracts with independent operators. FORWARD LOOKING STATEMENTS This release contains certain forward looking statements. These statements relate to future events or future performance and reflect managements expectations regarding our growth, results of operations, performance, business prospects and opportunities and industry performance and trends. They reflect managements current internal projections, expectations or beliefs and are based on information currently available to management. Some of the market conditions and factors that have been considered in formulating the assumptions upon which forward looking statements are based include traffic, the Canadian Dollar relative to the US Dollar, fuel costs, construction costs, the state of the local economy, fluctuating financial markets, demographics, tax changes, and the requirements of the Coastal Ferry Services Contract. Forward looking statements included in this release include statements with respect to: capital expenditure levels, fares, economic conditions, traffic levels, pricing promotions, and the Fare Flexibility and Digital Experience Initiative. In some cases, forward looking statements can be identified by terminology such as may, will, should, expect, plan, anticipate, believe, estimate, predict, potential, continue or the negative of these terms or other comparable terminology. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. In evaluating these statements, prospective investors should specifically consider various factors including, but not limited to, the risks and uncertainties associated with: vendor non-performance; capital market access; interest rate, foreign currency, fuel price, and traffic volume fluctuations; the implementation of major capital projects; security, safety, and environmental incidents; confidential or sensitive information breaches; changes in laws; vessel repair facility limitations; economic regulatory environment changes; tax

British Columbia Ferry Services Inc., 500-1321 Blanshard Street, Victoria, BC V8W 0B7 Tel (250) 978-1267 Fax (250) 978-1119 www.bcferries.com/bcfnews

changes; and First Nation claims. Actual results may differ materially from any forward looking statement. Although management believes that the forward looking statements contained in this release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements. These forward looking statements are made as of the date of this release, and British Columbia Ferry Services Inc. assumes no obligation to update or revise them to reflect new events or circumstances except as may be required by applicable law. In addition to providing measures prepared in accordance with International Financial Reporting Standards (IFRS), we present certain supplemental non-IFRS measures. These include, but are not limited to, vehicle and passenger traffic and number of sailings. These measures do not have any standardized meaning prescribed by IFRS and therefore are unlikely to be comparable to similar measures presented by other companies. These supplemental non-IFRS measures are provided to assist readers in determining our ability to generate cash from operations and improve the comparability of our results from one period to another. We believe these measures are useful in assessing operating performance of our ongoing business on an overall basis.

/MORE

British Columbia Ferry Services Inc., 500-1321 Blanshard Street, Victoria, BC V8W 0B7 Tel (250) 978-1267 Fax (250) 978-1119 www.bcferries.com/bcfnews/

Note to newsrooms: For urgent media inquiries off-hours, call our emergency pager at (250) 516-7211.

August 21, 2015

BC FERRIES OFFERS 50 PER CENT SAVINGS ON ALL PASSENGER FARES ON SELECT SAILINGS ON ALL ROUTES THIS FALL

BC Ferries announced today a major fleetwide pricing promotion of 50 per cent savings on all regular passenger fares coming soon.

From September 8 through October 15 on the major and minor routes, the 50 per cent

passenger fare discount will be in effect Monday through Thursday on select middle of the day sailings and on Saturday afternoon and evening sailings.

From October 1 31 on the northern routes, the half-price discount for all passengers will apply on all sailings.

For example, adult passengers on the Tsawwassen Swartz Bay route will save $8.45 during the promotion. This rate is similar to the fare from 1997.

For example, adult passengers travelling on the Port Hardy Prince Rupert Inside Passage route will save $72.75 during the promotion. This rate is similar to the fare 12 years ago.

During the promotion, Monday through Thursday, BC Seniors travelling on the major and minor routes will receive a 50 per cent discount off the regular seniors fare during this promotion, so theyll pay just 25 per cent of the regular adult passenger fare.

During the promotion, Experience Card, Northern Resident and Group Discounts will be increased to match the promotional discounts of 50 per cent off the regular fare.

This off-peak pricing promotion will not apply on Thanksgiving Monday (October 12) on

the major and minor routes, as traditionally that day is always a busy day for ferry travel.

For the purpose of this promotion, the major routes are the Metro Vancouver Vancouver Island and Horseshoe Bay Langdale routes. The minor routes are the Southern and Northern Gulf Island routes and the Port McNeill Alert Bay Sointula route.

For the purpose of this promotion, the northern routes are the Port Hardy Prince Rupert, Prince Rupert Haida Gwaii, Alliford Bay Skidegate routes and the Discovery Coast connector.

British Columbia Ferry Services Inc., 500-1321 Blanshard Street, Victoria, BC V8W 0B7 Tel (250) 978-1267 Fax (250) 978-1119 www.newsroom.bcferries.bc.ca

BC Ferries is planning some other pricing promotions for late fall and next spring that customers will enjoy. Stay tuned for details.

Sailing Schedule for Pricing Promotion attached

- 30 -

Media Contact: BC Ferries, Communications Victoria: (250) 978-1267

Customer Contact: Victoria: (250) 386-3431 Toll-free: 1-888-BCFERRY (1-888-223-3779)

"50% off the Coast" promotional fares

ROUTE DESCRIPTIONRegular

Adult

Regular Adult with

BC Ferries

Experience Card

discount

AdultChild

(5-11 yrs)

BC Senior

(Mon-Thurs)

Tsawwassen - Swartz Bay $16.90 n/a $8.45 $4.25 $4.25

Horseshoe Bay - Departure Bay $16.90 n/a $8.45 $4.25 $4.25

Tsawwassen - Duke Point $16.90 n/a $8.45 $4.25 $4.25

* Horseshoe Bay - Langdale $15.85 $12.40 $7.95 $4.00 $4.00

* Swartz Bay - Fulford Harbour $12.35 $8.45 $6.20 $3.10 $3.10

* Swartz Bay - Gulf Islands $13.15 $8.80 $6.60 $3.30 $3.30

Inter-Southern Gulf Islands $6.60 $4.40 $3.30 $1.65 $1.65

* Crofton - Vesuvius Bay $12.35 $8.45 $6.20 $3.10 $3.10

* Earl's Cove - Saltery Bay $15.55 $12.10 $7.80 $3.90 $3.90

* Horseshoe Bay - Snug Cove $12.10 $7.35 $6.05 $3.05 $3.05

Gulf Islands to Tsawwassen $10.00 n/a $5.00 $2.50 $2.50

Tsawwassen to Gulf Islands $19.45 n/a $9.75 $4.90 $4.90

Mill Bay - Brentwood Bay $7.85 $4.90 $3.95 $2.00 $2.00

Langdale - Keats Island - Gambier Island $7.60 $5.35 $3.80 $1.90 $1.90

Powell River (Westview) - Little River (Comox) $15.50 $12.55 $7.75 $3.90 $3.90

* Powell River (Westview) - Texada Island $11.25 $7.00 $5.65 $2.85 $2.85

* Nanaimo Harbour - Gabriola Island $11.25 $6.55 $5.65 $2.85 $2.85

* Chemainus - Thetis Island - Kuper Island $11.25 $6.55 $5.65 $2.85 $2.85

* Buckley Bay - Denman Island $10.30 $6.00 $5.15 $2.60 $2.60

* Denman Island - Hornby Island $10.30 $6.00 $5.15 $2.60 $2.60

* Campbell River - Quadra Island $10.30 $6.00 $5.15 $2.60 $2.60

* Quadra Island - Cortes Island $12.10 $8.00 $6.05 $3.05 $3.05

* Port McNeill - Alert Bay - Sointula $12.10 $8.00 $6.05 $3.05 $3.05

ROUTE DESCRIPTION

Regular

Adult

Resident Adult or

Regular Adult with

BC Ferries

Experience Card

discount

AdultChild

(5-11 yrs)

BC Senior

(Mon-Thurs)

Port Hardy - Prince Rupert (Shoulder season) $145.50 $118.75 $72.75 $36.50 $48.75

Port Hardy or Prince Rupert to Mid Coast (Shoulder season) $87.25 $64.75 $43.75 $22.00 $29.25

Service between Mcloughlin Bay/Sheawater & Ocean Falls/Klemtu $42.00 n/a $21.00 $10.50 $14.00

Bella Coola to Mid Coast Ports (Off Peak season) $53.75 $53.75 $27.00 $13.50 $18.00

Prince Rupert - Skidegate (Off Peak season) $38.00 $38.00 $19.00 $9.50 $12.75

* Skidegate - Alliford Bay $10.30 $6.00 $5.15 $2.60 $2.60

* Fare includes return trip

Major and Minor Routes**: Select sailings - Monday to Thursday & Saturdays

September 8 to October 15 2015

Northern routes*** : All sailings - October 1 to October 31 2015

Promotional rates

Promotional rates

TERMS AND CONDITIONS "50% Off the Coast" promotion is applicable on adult, child and BC Senior regular passenger fares. **Major and Minor routes: Offer valid on select sailings September 8 October 15, 2015, Monday to Thursday and Saturdays on the following routes: Metro Vancouver; Vancouver Island; Sunshine Coast; Southern Gulf Islands; Northern Gulf Islands, in either direction. Not valid on Thanksgiving Monday- Oct.12,2015.

***Northern Routes: Offer valid on all sailings October 1 October 31, 2015, on the following routes: Inside Passage; Haida Gwaii;

Discovery Coast Connector; Skidegate/Alliford Bay, in either direction.

BC Ferries ExperienceCard, Resident and Group discounts will be increased to match the promotional discount on promotional sailings. Not applicable for BC Ferries Vacations pre-bundled packages. Limited time offer. Other conditions may apply. Please visit bcferries.com for full details on applicable sailings.

Client: BC Ferries Date: August 18, 2015 1:52 PMFile Name: 21012197_P_50_Percent_Off _FALL_Pamphlet_v4 Target: 50% Off BrochureActual Size: 15.875 x 9.0 Inches Folds to 4.0 x 9.0 Revisions: 0Colours: 4c Operator: J Shaw

bringing the coast within reach

All regular passenger fares are 50% o on all routes.

Theres never been a better time to get on board BC Ferries. Enjoy half price passenger fares on select sailings on all routes. Restrictions apply.

50%OFFTHE COAST

NORTHERN ROUTES: Inside Passage; Haida Gwaii; Discovery

Coast Connector; Skidegate / Alliford BayOcT 1 31 2015, All SAilingS

MAJOR & MINOR ROUTES: Metro Vancouver; Vancouver Island; Sunshine Coast;

Southern Gulf Islands; Northern Gulf Islands SepT 8 OcT 15 2015, MOn THURS AnD

SATURDAYS, SelecT SAilingS

Su Mo Tu We Th Fr Sa(except Oct 12)

Su Mo Tu We Th Fr Sa (except Oct 12)





Sept 8 Oct 15 Sept 8 Oct 15

Oct 1 Oct 31

Oct 1 Oct 31

Sept 8 Oct 15

Sept 8 Oct 15

Sept 8 Oct 15

Sept 8 Oct 15

Chemainus Thetis Island Penelakut Island Quadra Island (Heriot Bay) Cortes Island (Whaletown)

Port Hardy Prince Rupert, Mid Coast Connector Prince Rupert Haida Gwaii

Haida Gwaii: Skidegate Alliford Bay

Port Mcneill Alert Bay Sointula

Denman Island (Gravelly Bay) Hornby Island (Shingle Spit)

Campbell River Quadra Island (Quathiaski Cove)

Vancouver Island (Buckley Bay) Denman Island (Denman West)

10:10 am 12:15 pm 1:50 pm 3:35 pm

10:10 am 12:15 pm 1:50 pm 3:35 pm

10:10 am 12:15 pm 1:50 pm 3:35 pm

10:10 am 12:15 pm 1:50 pm 3:35 pm

11:05 am 1:05 pm 3:05 pm

1:05 pm 3:05 pm

11:05 am 1:05 pm 3:05 pm

11:05 am 1:05 pm 3:05 pm

Passenger Fare Discount applies to all scheduled sailings in October.

Passenger Fare Discount applies to all scheduled sailings in October.

11:35 am 1:10 pm 2:20 pm 4:05 pm

11:35 am (except Oct 13)

1:10 pm 2:20 pm 4:05 pm

11:35 am 1:10 pm 2:20 pm 4:05 pm

11:35 am 1:10 pm 2:20 pm 4:05 pm

11:40 am 1:30 pm 2:20 pm 3:50 pm 4:45 pm

11:40 am 1:30 pm 2:20 pm 3:50 pm 4:45 pm

11:40 am 1:30 pm 2:20 pm 3:50 pm 4:45 pm

11:40 am 1:30 pm 2:20 pm 3:50 pm 4:45 pm

10:30 am 11:30 am 12:30 pm 1:30 pm 2:30 pm 3:30 pm

11:30 am 12:30 pm 1:30 pm 2:30 pm 3:30 pm

10:30 am 11:30 am 12:30 pm 1:30 pm 2:30 pm 3:30 pm

10:30 am 11:30 am 12:30 pm 1:30 pm 2:30 pm 3:30 pm

11:00 am 12:30 pm 1:15 pm 3:15 pm 4:05 pm

11:00 am 12:30 pm 1:15 pm 3:15 pm 4:05 pm

11:00 am 12:30 pm 1:15 pm 3:15 pm 4:05 pm

11:00 am 12:30 pm 1:15 pm 3:15 pm 4:05 pm

ApplicAble SAilingS ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

1:50 pm 3:35 pm 5:10 pm 6:45 pm 8:25 pm 10:00 pm

1:05 pm 3:05 pm 5:05 pm 6:45 pm

1:10 pm 2:20 pm 4:05 pm 5:10 pm 6:40 pm 7:40 pm 9:30 pm

1:30 pm 2:20 pm 3:50 pm 4:45 pm 5:45 pm 6:45 pm

12:15 pm 1:15 pm 2:15 pm 3:30 pm 4:30 pm 5:25 pm 6:15 pm 7:30 pm 8:30 pm 9:45 pm 10:45 pm

1:15 pm 3:15 pm 4:05 pm 5:05 pm 6:05 pm 8:05 pm 9:30 pm


Sept 8 Oct 12

Langdale Gambier Island Keats Island

11:45 am 12:15 pm 3:00 pm

11:45 am 12:15 pm 3:00 pm

11:45 am 12:15 pm 3:00 pm

11:45 am 12:15 pm 3:00 pm

ApplicAble SAilingS 3:00 pm 4:35 pm 5:15 pm 6:00 pm 6:40 pm


Sept 8 Oct 15

Powell River (Westview) Texada Island (Blubber Bay)

10:40 am 12:15 pm 3:45 pm

10:40 am 12:15 pm 3:45 pm

12:15 pm 3:45 pm

10:40 am 12:15 pm 3:45 pm

ApplicAble SAilingS 4:15 pm 6:40 pm 8:15 pm 9:45 pm


Sept 8 Oct 15

Nanaimo Harbour Gabriola Island

10:40 am 11:55 am 1:10 pm 2:25 pm 3:45 pm

10:40 am 11:55 am 1:10 pm 2:25 pm 3:45 pm

11:55 am 1:10 pm 2:25 pm 3:45 pm

10:40 am 11:55 am 1:10 pm 2:25 pm 3:45 pm

ApplicAble SAilingS 1:10 pm 3:45 pm 5:00 pm 6:10 pm 7:15 pm 9:00 pm 10:00 pm 11:00 pm


Powell River to Comox, Sept 8 Oct 15Comox (Little River) Powell River (Westview)

11:50 am 5:15 pm 8:45 pm

11:50 am 5:15 pm 8:45 pm

11:50 am 8:45 pm

11:50 am 5:15 pm 8:45 pm

ApplicAble SAilingS 11:50 am 8:45 pm


Comox to Powell River, Sept 8 Oct 15

10:00 am 3:15 pm 7:15 pm

10:00 am 3:15 pm 7:15 pm

10:00 am 6:50 pm

10:00 am 3:15 pm 7:15 pm

ApplicAble SAilingS 10:00 am 6:50 pm

Su Mo Tu We Th Fr SaOct 13 Oct 15

11:45 am 12:05 pm 3:00 pm

11:45 am 12:05 pm 3:00 pm

11:45 am 12:05 pm 3:00 pm

ApplicAble SAilingS

TERMS AND CONDITIONS: 50% Off Passenger promotion is applicable on adult, child and BC Senior regular passenger fares . Major and Minor routes: Offer valid on select sailings September 8 Octo-ber 15, 2015, Monday to Thursday and Saturdays on the following routes: Metro Vancouver; Vancouver Island; Sunshine Coast; Southern Gulf Islands; Northern Gulf Islands, in either direction. Not valid on Thanksgiving Monday Oct.12, 2015. Northern Routes: Offer valid on all sailings October 1 October 31, 2015, on the following routes: Inside Passage; Haida Gwaii; Discovery Coast Connector; Skidegate/Alliford Bay, in either direction. Experience Card, Resident and Group discounts will be increased to match the promotional discount on promotional sailings. Not applicable for BC Ferries Vacations pre-bundled packages. Limited time offer. Other conditions may apply. Please visit bcferries.com for full details on applicable sailings. BC Reg. 48839.

Foot passenger only service On this route, return fares are paid at Chemainus On this route, return fares are paid at Campbell River

On this route, return fares are paid at Port McNeill

On this route, return fares are paid at Skidegate

On this route, return fares are paid at Buckley Bay

On this route, return fares are paid at Buckley Bay

On this route, return fares are paid at Campbell RiverOn this route, return fares are paid at Powell River

On this route, return fares are paid at Nanaimo Harbour

For full details: Visit bcferries.com or call 1-888-BC FERRY

Client: BC Ferries Date: August 18, 2015 1:52 PMFile Name: 21012197_P_50_Percent_Off_FALL_Pamphlet_v4 Target: 50% Off BrochureActual Size: 15.875 x 9.0 Inches Folds to 4.0 x 9.0 Revisions: 0Colours: 4c Operator: J Shaw


Mill Bay to Brentwood Bay, Sept 8 Oct 15Mill Bay Brentwood Bay

11:35 am 1:50 pm 3:00 pm 4:10 pm

11:35 am 1:50 pm 3:00 pm 4:10 pm

11:35 am 1:50 pm 3:00 pm 4:10 pm

11:35 am 1:50 pm 3:00 pm 4:10 pm



Brentwood Bay to Mill Bay, Sept 8 Oct 15

11:00 am 1:15 pm 2:25 pm 3:35 pm

11:00 am 1:15 pm 2:25 pm 3:35 pm

11:00 am 1:15 pm 2:25 pm 3:35 pm

11:00 am 1:15 pm 2:25 pm 3:35 pm








Vancouver (Tsawwassen) to Gulf Islands, Sept 8 Oct 15

Salt Spring Island (Long Harbour) to Vancouver, Sept 8 Oct 15

Pender Island (Otter Bay) to Vancouver, Sept 8 Oct 15

Saturna Island (Lyall Harbour) to Vancouver, Sept 8 Oct 15

Mayne Island (Village Bay) to Vancouver, Sept 8 Oct 15

Galiano Island (Sturdies Bay) to Vancouver, Sept 8 Oct 15

Vancouver (Tsawwassen) Southern Gulf Islands

10:10 am 10:10 am 10:10 am 10:10 am

3:15 pm 3:15 pm 3:15 pm 3:15 pm

4:05 pm 4:05 pm 4:05 pm 4:05 pm

4:10 pm 4:10 pm 4:10 pm 4:10 pm

4:55 pm 4:55 pm 4:55 pm 4:55 pm

5:35 pm 5:35 pm 5:35 pm 5:35 pm

ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

8:45 pm

3:35 pm

4:25 pm

4:15 pm

5:05 pm

5:40 pm

On this route, return fares are paid at Horseshoe Bay

On this route, return fares are paid at Swartz Bay

On this route, return fares are paid at Swartz Bay

On this route, return fares are paid at Saltery Bay

On this route, return fares are paid at Crofton

On this route, return fares are paid at Horseshoe Bay

* See schedule to confirm availability on your date of travel.



Vancouver to Victoria, Sept 8 Oct 15

Victoria to Vancouver, Sept 8 Oct 15

Vancouver (Tsawwassen) Victoria (Swartz Bay)

11:00 am 1:00 pm 2:00 pm* 3:00 pm

11:00 am 1:00 pm 2:00 pm* 3:00 pm

11:00 am 1:00 pm 2:00 pm* 3:00 pm

11:00 am 1:00 pm 2:00 pm* 3:00 pm

11:00 am 12 noon* 1:00 pm 3:00 pm

11:00 am 12 noon* 1:00 pm 3:00 pm

11:00 am 12 noon* 1:00 pm 3:00 pm

11:00 am 12 noon* 1:00 pm 3:00 pm

2:00 pm* 3:00 pm 5:00 pm 7:00 pm 9:00 pm

3:00 pm 5:00 pm 7:00 pm 9:00 pm

ApplicAble SAilingS

ApplicAble SAilingS


Su Mo Tu We Th Fr Sa

Sept 8 Oct 12

Oct 13 Oct 15

Vancouver (Horseshoe Bay) Sunshine Coast (Langdale)

11:30 am 1:35 pm 3:50 pm

11:30 am 1:35 pm 3:50 pm

11:30 am 1:35 pm 3:50 pm

11:30 am 1:35 pm 3:50 pm

11:20 am 1:20 pm 3:30 pm

11:20 am 1:20 pm 3:30 pm

11:20 am 1:20 pm 3:30 pm

1:35 pm 3:50 pm 5:50 pm 7:50 pm 9:45 pm

ApplicAble SAilingS

ApplicAble SAilingS


Both ways, Sept 8 Oct 15Vancouver (Tsawwassen) Nanaimo (Duke Point)

12:45 pm 3:15 pm

12:45 pm 3:15 pm

12:45 pm 3:15 pm

12:45 pm 3:15 pm

3:15 pm 5:45 pm

ApplicAble SAilingS



Both ways, Sept 8 Oct 12

Both ways, Oct 13 Oct 15

Vancouver (Horseshoe Bay) Nanaimo (Departure Bay)

10:40 am 12:50 pm 3:10 pm

10:40 am 12:50 pm 3:10 pm

10:40 am 12:50 pm 3:10 pm

10:40 am 12:50 pm 3:10 pm

10:30 am 12:30 pm 3:00 pm

10:30 am 12:30 pm 3:00 pm

10:30 am 12:30 pm 3:00 pm

3:10 pm 5:20 pm 7:30 pm 9:30 pm

ApplicAble SAilingS

ApplicAble SAilingS

Su Mo Tu We Th Fr SaOct 13 Oct 15

11:20 am 3:25 pm

11:20 am 3:25 pm

11:20 am 3:25 pm

ApplicAble SAilingS


Sept 8 Oct 12

Powell River (Saltery Bay) Sechelt Peninsula (Earls Cove)

11:20 am 3:50 pm

11:20 am 3:50 pm

11:20 am 3:50 pm

11:20 am 3:50 pm

ApplicAble SAilingS 3:50 pm 5:55 pm 9:25 pm



Sept 8 Oct 12

Oct 13 Oct 15

Vancouver (Horseshoe Bay) Bowen Island (Snug Cove)

11:05 am 12:10 pm 2:35 pm 3:45 pm

11:05 am 12:10 pm 2:35 pm 3:45 pm

11:05 am 12:10 pm 2:35 pm 3:45 pm

11:05 am 12:10 pm 2:35 pm 3:45 pm

11:00 am12 noon

2:25 pm 3:30 pm

11:00 am12 noon

2:25 pm 3:30 pm

11:00 am12 noon

2:25 pm 3:30 pm

ApplicAble SAilingS

ApplicAble SAilingS

2:35 pm 3:45 pm 4:45 pm 5:50 pm 6:50 pm 8:40 pm 9:40 pm




To Galiano, Mayne and Pender Islands, Sept 8 Oct 15

To Pender, Mayne, Galiano and Saturna Islands, Sept 8 Oct 15

To Saturna, Mayne, Galiano and Pender Islands, Sept 8 Oct 15

Victoria (Swartz Bay) Gulf Islands

10:25 am 2:15 pm

10:25 am 2:15 pm

10:25 am 2:15 pm

10:25 am 2:15 pm

2:50 pm 2:50 pm 2:50 pm 2:50 pm

ApplicAble SAilingS

ApplicAble SAilingS

ApplicAble SAilingS

2:30 pm 6:35 pm

4:00 pm 7:10 pm



Sept 8 Oct 12

Oct 13 Oct 15

Crofton Salt Spring Island (Vesuvius Bay)

11:00 am 12:10 pm 1:15 pm 2:30 pm

11:00 am 12:10 pm 1:15 pm 2:30 pm

11:00 am 12:10 pm 1:15 pm 2:30 pm

11:00 am 12:10 pm 1:15 pm 2:30 pm

11:00 am 12:10 pm 1:15 pm 2:30 pm

11:00 am 12:10 pm 1:15 pm 2:30 pm

11:00 am 12:10 pm 1:15 pm 2:30 pm

ApplicAble SAilingS

ApplicAble SAilingS

1:15 pm 2:15 pm 3:35 pm 4:45 pm 5:55 pm 7:40 pm 8:50 pm 9:55 pm



Sept 8 Sept 26

Sept 27 Oct 15

Victoria (Swartz Bay) Salt Spring Island (Fulford Harbour)

11:00 am 1:00 pm 3:00 pm

11:00 am 1:00 pm 3:00 pm

11:00 am 1:00 pm 3:00 pm

11:00 am 1:00 pm 3:00 pm

11:00 am 1:00 pm 3:00 pm

11:00 am 1:00 pm 3:00 pm

11:00 am 1:00 pm 3:00 pm

11:00 am 1:00 pm 3:00 pm

1:10 pm 3:00 pm 5:00 pm 7:00 pm 9:00 pm

ApplicAble SAilingS

ApplicAble SAilingS

1:00 pm 3:00 pm 5:00 pm 7:00 pm 9:00 pm

BRITISH COLUMBIA FERRY SERVICES INC. Interim Consolidated Statements of Financial Position (unaudited) (Expressed in thousands of Canadian dollars)

As at

June 30, 2015 March 31, 2015

Assets

Current assets

Cash and cash equivalents 70,048 65,574

Restricted short-term investments 32,401 32,496

Other short-term investments 58,079 62,098

Trade and other receivables 19,903 19,490

Prepaid expenses 15,995 6,177

Inventories 26,095 25,393

222,521 211,228

Non-current assets

Loan receivable 24,515 24,515

Land lease 31,032 31,146

Property, plant and equipment 1,521,837 1,524,692

Intangible assets 69,385 65,031

1,646,769 1,645,384

Total assets 1,869,290 1,856,612

Liabilities Current liabilities

Accounts payable and accrued liabilities 50,607 57,401

Interest payable on long-term debt 16,196 18,329

Deferred revenue 21,825 16,957

Derivative liabilities 997 4,433

Current portion of long-term debt 24,000 24,000

Current portion of accrued employee future benefits 2,400 2,400

Current portion of obligations under finance lease 1,394 1,309

Provisions 50,057 48,065

167,476 172,894

Non-current liabilities

Accrued employee future benefits 18,598 18,800

Long-term debt 1,238,052 1,241,699

Obligations under finance lease 43,142 43,514

Other liabilities 1,500 1,500

1,301,292 1,305,513

Total liabilities 1,468,768 1,478,407

Equity

Share capital 75,478 75,478

Contributed surplus 25,000 25,000

Retained earnings 307,974 289,177

Total equity before reserves 408,452 389,655

Reserves (7,930) (11,450)

Total equity including reserves 400,522 378,205

Total liabilities and equity 1,869,290 1,856,612

BRITISH COLUMBIA FERRY SERVICES INC. Interim Consolidated Statements of Comprehensive Income (unaudited) (Expressed in thousands of Canadian dollars)

Three months ended June 30, 2015 2014

Revenue

Vehicle and passenger fares 143,344 131,372

Ferry service fees 41,259 45,047 Retail 21,326 19,944

Federal-Provincial Subsidy Agreement 7,182 7,089

Fuel (rebates) surcharges (1,626) 4,362

Regulated other income 4,071 3,399

Other income 2,143 1,896

Total revenue 217,699 213,109

Operating expenses

Operations 112,230 115,024

Maintenance 20,592 16,649

Administration 7,984 7,613

Cost of retail goods sold 8,651 7,989

Depreciation and amortization 35,111 35,234

Total operating expenses 184,568 182,509

Operating profit 33,131 30,600

Net finance and other expenses

Net finance expenses

Finance income 897 1,067

Finance expenses (15,242) (17,712)

Net finance expenses (14,345) (16,645) Gain (loss) on disposal and revaluation of property, plant and

equipment and intangible assets 11 (67)

Net finance and other expenses (14,334) (16,712)

Net earnings 18,797 13,888

Other comprehensive income (loss)

Items to be reclassified to net earnings 3,458 (2,396)

Total other comprehensive income (loss) 3,458 (2,396)

Total comprehensive income 22,255 11,492

BRITISH COLUMBIA FERRY SERVICES INC. Interim Consolidated Statements of Cash Flows (unaudited) (Expressed in thousands of Canadian dollars)


Cash flows from operating activities

Net earnings 18,797 13,888 Items not affecting cash

Net finance expense 14,345 16,645

Depreciation and amortization 35,111 35,234 (Gain) loss on disposal and revaluation of property, plant and

equipment and intangible assets (11) 67

Other non-cash adjustments to property, plant and equipment 79 (405)

Changes in

Accrued employee future benefits (202) 97

Derivative liabilities recognized in net earnings 23 15

Provisions 1,992 (3,845)

Long-term land lease 114 114

Accrued interest costs 514 20

Total non-cash items 51,965 47,942 Movements in operating working capital

Trade and other receivables (413) 198 Prepaid expenses (9,818) (11,244)

Inventories (702) (1,017)

Accounts payable and accrued liabilities (6,794) (12,141)

Deferred revenue 4,868 4,861

Change in non-cash working capital (12,859) (19,343)

Change attributable to capital asset acquisitions (3,142) 6,116

Change in non-cash operating working capital (16,001) (13,227)

Cash generated from operating activities 54,761 48,603

Interest received 391 1,045

Interest paid (18,494) (21,496)

Net cash generated by operating activities 36,658 28,152

BRITISH COLUMBIA FERRY SERVICES INC. Interim Consolidated Statements of Cash Flows (unaudited) (Expressed in thousands of Canadian dollars)


Cash flows from financing activities

Proceeds from issuance of bonds - 200,000

Repayment of long-term debt (3,750) (250,000)

Repayment of finance lease obligations (287) (278)

Deferred financing costs incurred - (1,315)

Hedge losses on interest rate forward contracts - (7,652)

Net cash used in financing activities (4,037) (59,245)

Cash flows from investing activities

Proceeds from disposal of property, plant and equipment 12 43

Purchase of property, plant and equipment and intangible assets (32,273) (31,167)

Decrease of debt service reserves 95 2,886

Net proceeds from short-term investments 4,019 30,471

Net cash (used in) provided by investing activities (28,147) 2,233

Net increase (decrease) in cash and cash equivalents 4,474 (28,860)

Cash and cash equivalents, beginning of year 65,574 71,365

Cash and cash equivalents, end of year 70,048 42,505

BRITISH COLUMBIA FERRY SERVICES INC. Interim Consolidated Statements of Changes in Equity (unaudited) (Expressed in thousands of Canadian dollars)

Share

capital Contributed

surplus Retained earnings

Total equity before

reserves Reserves

Total equity

including reserves

Balance as at April 1, 2014 75,478 25,000 246,142 346,620 (1,691) 344,929

Net earnings for the three

months ended June 30, 2014 - - 13,888 13,888 - 13,888

Other comprehensive loss for the

three months ended June 30, 2014 - - - - (2,396) (2,396)

Hedge losses reclassified to net

earnings - - - - 43 43

Balance as at June 30, 2014 75,478 25,000 260,030 360,508 (4,044) 356,464

Balance as at March 31, 2015 75,478 25,000 289,177 389,655 (11,450) 378,205

Net earnings for the three

months ended June 30, 2015 - - 18,797 18,797 - 18,797

Other comprehensive income

for the three months ended June 30, 2015 - - - - 3,458 3,458

Hedge losses reclassified to net

earnings - - - - 62 62

Balance as at June 30, 2015 75,478 25,000 307,974 408,452 (7,930) 400,522

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