CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20...

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51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70 1 May 2015 To Whom It May Concern AVN/GENAV 01473 223351 CERTIFICATE OF INSURANCE THIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:- AIRCRAFT: Global 6000 9H-IGH 15 passenger seats MTOM 44,500 kg Engaged in commercial operations ISSUED ON BEHALF OF: Authorised Insurers POLICY NUMBER: 16707A15 INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests. PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured. SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice. COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo. A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail (excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrence and in the aggregate. The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in accordance with Article 7.1 of EC Regulation 785/2004. (c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances. * Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B. SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004 SDR 282,750 per passenger for bodily injury. SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages otherwise arising are self-insured by the above-mentioned airline. SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence, damages otherwise arising are self-insured by the above-mentioned airline.

Transcript of CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20...

Page 1: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-IGH15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 2: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 3: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-OPE15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 4: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 5: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJA15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 6: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 7: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJC15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 8: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 9: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJD15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 10: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 11: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJE15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 12: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 13: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJF15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 14: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 15: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJG15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 16: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 17: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJH15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 18: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 19: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJI15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 20: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 21: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJJ15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 22: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 23: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJK15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 24: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 25: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJL15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 26: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 27: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 6000 9H-VJM15 passenger seatsMTOM 44,500 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 28: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 29: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 5000 9H-VTA15 passenger seatsMTOM 42,000 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 30: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 31: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 5000 9H-VTB15 passenger seatsMTOM 42,000 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 32: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 33: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 5000 9H-VTC15 passenger seatsMTOM 42,000 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 34: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 35: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCA9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 36: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 37: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCB9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 38: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 39: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCC9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 40: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 41: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCD9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 42: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 43: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCE9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 44: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 45: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCF9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 46: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 47: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCG9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 48: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 49: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 350 9H-VCH9 passenger seatsMTOM 18,416 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 50: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 51: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFA12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 52: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 53: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFB12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 54: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 55: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFC12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 56: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 57: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFD12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 58: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 59: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFE12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 60: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 61: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFF12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 62: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 63: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFG12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 64: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 65: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFH12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 66: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 67: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 9H-VFI12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 68: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 69: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Agusta 109 Grand New HB-ZVJ6 passenger seatsMTOM 3,175 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Group Holding SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests. Additional Insured: Swiss Helicopter Ltd as operator

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 7,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.SDR 19 per kilogram for damage to cargo.

Page 70: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 71: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 5000 N500VJ15 passenger seatsMTOM 42,000 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 72: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 73: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 5000 N501VJ15 passenger seatsMTOM 42,000 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 74: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 75: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global 5000 N502VJ15 passenger seatsMTOM 42,000 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 76: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 77: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 850 OE-ILA / B - 810114 passenger seatsMTOM 23,995 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 78: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 79: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 850 OE-ILB / B 8107/ C-FIPF14 passenger seatsMTOM 23,995 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 80: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 81: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 850 OE-ILI15 passenger seatsMTOM 24,040 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 82: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 83: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 850 OE-ILV15 passenger seatsMTOM 24,040 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJetGroup Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 84: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 85: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 850 OE-ILY15 passenger seatsMTOM 24,040 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 86: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 87: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 850 OE-ILZ15 passenger seatsMTOM 24,040 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 88: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 89: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 OE-INA12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 90: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 91: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 OE-IND10 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 92: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 93: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 OE-INH12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 94: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 95: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 OE-INN10 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 96: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 97: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 605 OE-INS12 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 98: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 99: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Challenger 604 OE-INY10 passenger seatsMTOM 21,863 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 80,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 100: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 101: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1 May 2015

To Whom It May ConcernAVN/GENAV01473 223351

CERTIFICATE OF INSURANCETHIS IS TO CERTIFY THAT WE, in our capacity as Insurance brokers to VistaJet, have arranged coverage as follows:-

AIRCRAFT: Global XRS OE-LXX15 passenger seatsMTOM 45,132 kgEngaged in commercial operations

ISSUED ON BEHALF OF: Authorised Insurers

POLICY NUMBER: 16707A15

INSURED: VistaJet Limited, VistaJet Luftfahrtunternehmen GmbH, VistaJet Group Holding SA, VistaJet Aviation Services SA and associated and managed and subsidiary and affiliated companies as in existence or hereafter acquired/created for their respective rights and interests.

PERIOD: From 1 May 2015 to 30 April 2016 both days inclusive local standard time at the Maltese address of the Insured.

SITUATION: Worldwide. However flights to Libya, Syria, Sudan, Republic of Sudan, Afghanistan and Iraq are subject to prior advice.

COVERAGE: Legal Liabilities to Third Parties and Passengers (including baggage and personal articles) and Cargo.

A Combined Single Limit Third Parties and Passengers (including baggage and personal articles), Cargo and Mail

(excluding War, Terrorism and Allied Perils): USD 300,000,000 each occurrence

B Third Party War, Terrorism and Allied Perils*: USD 300,000,000 each occurrenceand in the aggregate.

The amounts of insurance stated herein are in accordance with the minimum insurance cover requirements of Articles 6 and 7 of Regulation (EC) No 785/2004 based on: (a) The rates of exchange applicable to Special Drawing Rights at inception of the insurances, (b) Third party war, terrorism and allied perils being insured on an aggregate basis as above, as permissible in

accordance with Article 7.1 of EC Regulation 785/2004.

(c) It being understood that such aggregate limits may be reduced or exhausted during the policy period by virtue of claims made against aircraft or other operational interest covered by the insurances.

* Cover is in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN52E writing back all paragraphs except (b) of War, Hi-Jacking and Other Perils Exclusion Clause AVN 48B.

SDR 150,000,000 sum per aircraft and occurrence of damage, in compliance with the Regulation (EC) 785/2004, includes consequential damage caused by war and terrorism according to article 7 of the Regulation (EC) 785/2004SDR 282,750 per passenger for bodily injury.SDR 4,694 for delay in carriage of passengers arising from an insured occurrence, damages

otherwise arising are self-insured by the above-mentioned airline.SDR 1,131 for damage to baggage and delay in carriage of baggage from an insured occurrence,

damages otherwise arising are self-insured by the above-mentioned airline.

Page 102: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

51 Lime Street, London EC3M 7DQTelephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: www.willis.com

Willis Limited. A Lloyds Broker, authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

SDR 19 per kilogram for damage to cargo.Including SDR 100,000 (article 3) and advance payment (article 5) according to the EU Regulation 2027/97

CIVIL USE OF MOD AIRFIELDS ENDORSEMENTIt is noted that the Insured(s) may wish to use, for civil aircraft purposes, Ministry of Defence (MOD) airfields and be required to enter into an agreement with the Crown incorporating certain conditions for the civil (flying) use of such airfields and to afford an indemnity to the Crown in the Form of INDEM3.81/Form4a.The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay and shall pay to the Crown under such an agreement as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by any Aircraft insured under the Policy or by any person or object falling therefrom.The limit applicable to this Endorsement is USD 300,000,000 any one Accident and such limit shall not be in addition to nor in excess of any other limit of liability provided in the Policy.Unless the Policy otherwise provides, the following exclusions shall apply:-(a) Nuclear Risks Exclusion Clause AVN 38B;(b) War, Hi-jacking and Other Perils Exclusions Clause (Aviation) AVN 48B;(c) Noise and Pollution and Other Perils Exclusion Clause AVN 46B;(d) Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72; and(e) Date Recognition Exclusion Clause AVN 2000A.If Insurers are called upon to provide coverage to the Insured in compliance with INDEM3.81/Form4a including the defence and legal costs associated therewith and if by reason of the terms conditions limitations and exclusions of the Policy such coverage would not have been provided except for this Endorsement then the Insured will reimburse Insurers for such payments made in providing coverage under INDEM3.81/Form4a.Nothing in this Endorsement shall restrict the coverages otherwise provided under the Policy.AVN 95 30.4.02IN ACCORDANCE WITH THE TERMS, CONDITIONS, LIMITATIONS AND EXCLUSIONS OF THE POLICY.

Yours faithfully,WILLIS LIMITED

AUTHORISED SIGNATORY This certificate has been electronically signed

Page 103: CERTIFICATE OF INSURANCE AIRCRAFT: ISSUED ON...51 Lime Street, London EC3M 7DQ Telephone: +44 (0)20 3124 6000 Fax:+44 (0)20 3124 7688 Website: Willis Limited. A Lloyds Broker, authorised

VistaJet Policy Number 16707A15

Schedule of Aircraft - as at 22 April 2015

Aircraft Serial Numbers Registration Agreed Value

Pass.

Seats Limit of Liability

Global 6000 9441 9H-VJA $55,000,000 15 $300,000,000

Global 6000 9440 9H-OPE $55,000,000 15 $300,000,000

Global 6000 9448 9H-VJC $55,000,000 15 $300,000,000

Global 6000 9472 9H-VJD $55,000,000 15 $300,000,000

Global 6000 9502 9H-VJE $55,000,000 15 $300,000,000

Global 6000 9503 9H-VJF $55,000,000 15 $300,000,000

Global 6000 9570 9H-IGH $55,000,000 15 $300,000,000

Global 6000 9580 9H-VJG $55,000,000 15 $300,000,000

Global 6000 9585 9H-VJH $56,012,099 15 $300,000,000

Global 6000 9593 9H-VJI $57,385,866 15 $300,000,000

Global 6000 9604 9H-VJJ $57,385,866 15 $300,000,000

Global 6000 9619 9H-VJK $58,700,000 15 $300,000,000

Global 6000 9626 9H-VJL $58,700,000 15 $300,000,000

Global 5000 9565 9H-VTA $50,000,000 15 $300,000,000

Global 5000 9566 9H-VTB $50,000,000 15 $300,000,000

Global 5000 9571 9H-VTC $50,000,000 15 $300,000,000

Global XRS 9429 OE-LXX $50,000,000 15 $300,000,000

Challenger 350 20513 9H-VCA $26,000,000 9 $300,000,000

Challenger 350 20514 9H-VCB $26,000,000 9 $300,000,000

Challenger 350 20535 9H-VCC $26,000,000 9 $300,000,000

Challenger 350 20538 9H-VCD $26,000,000 9 $300,000,000

Challenger 350 20540 9H-VCE $26,000,000 9 $300,000,000

Challenger 350 20541 9H-VCF $26,000,000 9 $300,000,000

Challenger 350 20545 9H-VCG $26,000,000 9 $300,000,000

Challenger 350 20546 9H-VCH $26,000,000 9 $300,000,000

Challenger 350 20550 9H-VCI $26,000,000 9 $300,000,000

Challenger 850 8101 OE-ILA/B- $30,000,000 14 $300,000,000

Challenger 850 8107 OE-ILB/B- $30,000,000 14 $300,000,000

Challenger 605 5970 9H-VFA $30,000,000 12 $300,000,000

Challenger 605 5971 9H-VFB $30,000,000 12 $300,000,000

Challenger 605 5972 9H-VFC $30,000,000 12 $300,000,000

Challenger 605 5973 9H-VFD $30,000,000 12 $300,000,000

Challenger 605 5974 9H-VFE $30,000,000 12 $300,000,000

Challenger 605 5977 9H-VFF $30,000,000 12 $300,000,000

Challenger 605 5978 9H-VFG $30,000,000 12 $300,000,000

Challenger 605 5979 9H-VFH $30,000,000 12 $300,000,000

Challenger 605 5884 9H-VFI $30,000,000 12 $300,000,000

Challenger 850 8082 OE-ILV $26,000,000 15 $300,000,000

Challenger 850 8086 OE-ILZ $26,000,000 15 $300,000,000

Challenger 605 5743 OE-INN $25,000,000 10 $300,000,000

Challenger 605 5842 OE-INS $24,500,000 12 $300,000,000

Challenger 850 8048 OE-ILI $24,000,000 15 $300,000,000

Challenger 850 8076 OE-ILY $24,000,000 15 $300,000,000

Challenger 604 5644 OE-INY $20,000,000 10 $300,000,000

Global 5000 9552 N500VJ - USA $50,000,000 15 $300,000,000

Global 5000 9563 N501VJ - USA $50,000,000 15 $300,000,000

Global 5000 9608 N502VJ - USA $50,000,000 15 $300,000,000