Sunshine Minting, Inc.

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1 Board Summary Sunshine Minting, Inc Mineral Drive Suite 700, Coeur d'alene, ID Date: March 16, 2017 Main Location: Carson City, Nevada Ron Reed, Chief Financial Officer Manufacturing - Precious Metals Business Type: Expansion County: Clark County Development Authority Representative: Perry Ursem, LVGEA APPLICATION HIGHLIGHTS - Sunshine Minting, Inc. is considering expanding its existing Henderson, Nevada operations to include a world-class, state-of-the-art, 144,000 square foot minting facility. - Sunshine Minting, Inc.'s plan to consolidate their U.S. operations in Clark County would result in 80 million ounces of silver going through the state of Nevada every year. PROFILE Sunshine Minting, Inc. is the leading manufacturer of products for the minting industry, offering blanks, bullion, custom minted products, exclusive security, and special feature products. Sunshine Minting, Inc. uses an exclusive Scrambled Indicia security feature called Mint Mark SI for all of their products to prevent counterfeit bullion products. The company also offers COINWISE, the first interactive technology for minted products for use with Android and ios mobile devices used to market direct to customers. The technology is completely imbedded in the artwork and hidden from the human eye. Sunshine Minting, Inc. was nationally recognized for a record five years in a row as one of America's fastest growing private companies by Inc. Magazine. Source: Sunshine Minting, Inc. SIGNIFICANCE OF ABATEMENTS IN THE COMPANY'S DECISION TO RELOCATE/EXPAND Depending on the outcome of its application Sunshine Minting, Inc. will make a decision to expand in southern Nevada or relocate existing assets to southern Idaho. If approved for the abatements sought the company plans to relocate all corporate, administrative and operational functions to the state of Nevada. The company also envisions changing its corporate registration to a Nevada Corporation. Source: Sunshine Minting, Inc. REQUIREMENTS Statutory Application Sufficient % Over / Under Job Creation Yes 580% Average Wage $21.35 $19.36 No -9% Equipment Capex (SU & MBT) $232,787 $5,485,000 Yes 2256% Equipment Capex (PP) $232,787 $5,485,000 Yes 2256% INCENTIVES Requested Terms Estimated $ Amount Sales Tax Abmt. Abated to 2% for 2 years $337,328 Modified Business Tax Abmt. 50% for 4 years $192,414 Personal Property Tax Abmt. 50% for 10 years $181,285 Total $711,027 JOB CREATION Contracted 24-Month Projection 5-Year Projection OTHER CAPITAL INVESTMENT Land Building Purchase BTS / Building Improvements $0 $0 $1,000,000 ECONOMIC IMPACT ESTIMATES (10-Year Cumulative) Total Construction Total Jobs Supported Total Payroll Supported $134,579,596 $460,320 Total Output Estimate $391,702,797 $1,586,783 Estimate includes jobs, payroll & output by the company assisted as well as the secondary impacts to other local businesses. NEW TAX REVENUE ESTIMATES (10-Year Cumulative) Direct Indirect Total Local Taxes Property $1,046,532 $4,838,538 $5,885,070 Sales $39,975 $2,410,108 $2,450,083 Lodging $0 $116,667 $116,667 State Taxes Property $57,239 $281,730 $338,969 Sales $122,700 $834,393 $957,093 Modified Business $1,034,719 $555,716 $1,590,435 Lodging $0 $3,646 $3,646 Total $2,301,165 $9,040,798 $11,341,963 IMPACT ASSESSMENT Economic Impact per Abated Dollar New Total Tax per Abated Dollar $551 $15.95 EMPLOYEE BENEFITS - Percentage of health insurance plan covered by company: 65%. - Health care package cost per employee - $5,898 annually with options for dependents. - Overtime, PTO/Sick/Vacation, Merit increases, Bonus, Retirement Plan / Profit Sharing / 401 (k) / Tuition Assistance. NOTES - Percentage of market outside of Nevada: 100%. - The company is also considering Coeur d'alene, ID as a potential location.

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5 Incentive Application Company Name: Sunshine Minting, Inc. Date of Application: February 8, 2017 Company is an / a: (check one) New location in Nevada Expansion of a Nevada company Section 1 - Type of Incentives Please check all that the company is applying for on this application: Sales & Use Tax Abatement Modified Business Tax Abatement Personal Property Tax Abatement Section 2 - Corporate Information Sales & Use Tax Deferral Recycling Real Property Tax Abatement Other: COMPANY NAME (Legal name under which business will be transacted in Nevada) Sunshine Minting, Inc. CORPORATE ADDRESS 7600 Mineral Drive Suite 700 MAILING ADDRESS TO RECEIVE DOCUMENTS (If different from above) CITY / TOWN Coeur d'alene FEDERAL TAX ID # STATE / PROVINCE ZIP Idaho CITY / TOWN STATE / PROVINCE ZIP TELEPHONE NUMBER WEBSITE sunshinemint.com COMPANY CONTACT NAME COMPANY CONTACT TITLE Ron Reed Chief Financial Officer ADDRESS PREFERRED PHONE NUMBER rreed@sunshinemint.com Has your company ever applied and been approved for incentives available by the Governor's Office of Economic Development? If Yes, list the program awarded, date of approval, and status of the accounts (attach separate sheet if necessary): Yes No Section 3 - Program Requirements Please check two of the boxes below; the company must meet at least two of the three program requirements: A capital investment of $1,000,000 in eligible equipment in urban areas or $250,000 in eligible equipment in rural areas are required. This criteria is businesses. In cases of expanding businesses, the capital investment must equal at least 20% of the value of the tangible property owned by the business. New businesses locating in urban areas require fifty (50) or more permanent, full-time employees on its payroll by the eighth calendar quarter quarter in which the abatement becomes effective. In rural areas, the requirement is ten (10) or more. For an expansion, the business must increase employees on its payroll by 10% more than its existing employees prior to expansion, or by 25 (urban) or 6 (rural) employees, whichever is greater. In urban areas, the average hourly wage that will be paid by the business to its new employees is at least 100% of the average statewide hourly in rural areas, the average hourly wage will equal or exceed the lesser of the county-wide average hourly wage or statewide average hourly wage. Note: Criteria is different depending on whether the business is in a county whose population is 100,000 or more or a city whose population is 60,000 or more (i.e., urban area), or if the business is in a county whose population is less than 100,000 or a city whose population is less than 60,000 (i.e., rural area). Section 4 - Nevada Facility Type of Facility: Headquarters Technology Back Office Operations Research & Development / Intellectual Property PERCENT OF COMPANY'S NEVADA LOCATION MARKET OUTSIDE OF NEVADA 100% NAICS CODE / SIC Jun-2017 Service Provider Distribution / Fulfillment Manufacturing Other: INDUSTRY TYPE Manufacturing - Precious Metals DESCRIPTION OF COMPANY'S NEVADA OPERATIONS Manufacturing/minting of blanks, bullion, and other custom minted products made from base and precious metals. PROPOSED / ACTUAL NEVADA FACILITY ADDRESS 7600 Eastgate Rd. EXPECTED DATE OF NEW / EXPANDED OPERATIONS (MONTH / YEAR) CITY / TOWN COUNTY ZIP Henderson Clark County WHAT OTHER STATES / REGIONS / CITIES ARE BEING CONSIDERED FOR YOUR COMPANY'S RELOCATION / EXPANSION / STARTUP? Coeur d'alene, ID 1

6 Section 5 - Complete Forms (see additional tabs at the bottom of this sheet for each form listed below) Check the applicable box when form has been completed. 5 (A) Equipment List 5 (B) Employment Schedule 5 (C) Evaluation of Health Plan Section 6 - Real Estate & Construction (Fill in either New Operations/Startup or Expansion, not both.) New Operations / Start Up - Plans Over the Next Ten Years Expansions - Plans Over the Next 10 Years Part 1. Are you currently/planning on leasing space in Nevada? If No, skip to Part 2. If Yes, continue below: What year(s)? How much space (sq. ft.)? Annual lease cost of space: Do you plan on making building tenant improvements? If No, skip to Part 2. If Yes *, continue below: When to make improvements (month, year)? Part 2. Are you currently/planning on buying an owner occupied facility in Nevada? If No, skip to Part 3. If Yes *, continue below: Purchase date, if buying (month, year): How much space (sq. ft.)? Do you plan on making building improvements? If No, skip to Part 3. If Yes *, continue below: When to make improvements (month, year)? Part 3. Are you currently/planning on building a build-to-suit facility in Nevada? If Yes *, continue below: When to break ground, if building (month, year)? Estimated completion date, if building (month, year): How much space (sq. ft.)? Part 1. Are you currently leasing space in Nevada? Yes If No, skip to Part 2. If Yes, continue below: What year(s)? 2013-Current How much space (sq. ft.)? 22,000 Annual lease cost at current space: $168, Due to expansion, will you lease additional space? Yes If No, skip to Part 3. If Yes, continue below: Expanding at the current facility or a new facility? New What year(s)? 2017 How much expanded space (sq. ft.)? 142,000 Annual lease cost of expanded space: $1,020, Do you plan on making building tenant improvements? Yes If No, skip to Part 3. If Yes *, continue below: When to make improvements (month, year)? June, 2017 Part 2. Are you currently operating at an owner occupied building in Nevada? No If No, skip to Part 3. If Yes, continue below: How much space (sq. ft.)? Current assessed value of real property? Due to expansion, will you be making building improvements? If No, skip to Part 3. If Yes *, continue below: When to make improvements (month, year)? Part 3. Do you plan on building or buying a new facility in Nevada? No If Yes *, continue below: Purchase date, if buying (month, year): When to break ground, if building (month, year)? Estimated completion date, if building (month, year): How much space (sq. ft.)? * Please complete Section 7 - Capital Investment for New Operations / Startup. * Please complete Section 7 - Capital Investment for Expansions below. BRIEF DESCRIPTION OF CONSTRUCTION PROJECT AND ITS PROJECTED IMPACT ON THE LOCAL ECONOMY (Attach a separate sheet if necessary): Tenant improvements will include substantial installation of machinery and equipment necessary for SMI's world-class minting operation, as well as significant security improvements including safes, cameras, secure doors, metal detectors and other such equipment to ensure the security of the precious metals operations. Finally, the improvements will include modifications to the office space to include necessary rooms for artistic development, quality control and management operations The improvements should bring several hundred thousands of dollars into the local construction and transportation 2

7 Section 7 - Capital Investment (Fill in either New Operations/Startup or Expansion, not both.) New Operations / Start Up Expansions How much capital investment is planned? (Breakout below): How much capital investment is planned? (Breakout below): Building Purchase (if buying): $0 Building Purchase (if buying): $0 Building Costs (if building / making improvements): $0 Building Costs (if building / making improvements): $1,000,000 Land: $0 Land: $0 Equipment Cost: $0 Equipment Cost: $5,485,000 Total: $0 Total: $6,485,000 Is the equipment purchase for replacement of existing equipment? Yes Current assessed value of personal property in NV: $1,163,937 (Must attach the most recent assessment from the County Assessor's Office.) Section 8 - Employment (Fill in either New Operations/Startup or Expansion, not both.) New Operations / Start Up How many full-time equivalent (FTE*) employees will be created by the end of the first eighth quarter of new operations?: Average hourly wage of these new employees: Expansions How many full-time equivalent (FTE*) employees will be created by the end of the first eighth quarter of expanded operations?: 170 Average hourly wage of these new employees: $19.36 How many FTE employees prior to expansion?: Average hourly wage of these existing employees: Total number of employees after expansion: 130 $ * FTE represents a permanent employee who works an average of 30 hours per week or more, is eligible for health care coverage, and whose position is a "primary job" as set forth in NAC OTHER COMPENSATION (Check all that apply): Overtime Merit increases Tuition assistance Bonus PTO / Sick / Vacation COLA adjustments Retirement Plan / Profit Sharing / 401(k) Other: BRIEF DESCRIPTION OF ADDITIONAL COMPENSATION PROGRAMS AND ELIGIBILITY REQUIREMENTS (Attach a separate sheet if necessary): Section 9 - Employee Health Insurance Benefit Program Is health insurance for employees and an option for dependents offered?: Yes (copy of benefit plan must be attached) No Package includes (check all that apply): Medical Vision Dental Other: STD and LTD Qualified after (check one): Upon employment Three months after hire date Six months after hire date Other: 60 days, 1st of following month Health Insurance Costs: Percentage of health insurance coverage by: Cost of health insurance for company (annual amount per employee): $ 5, Company: 65% Health Plan annual out-of-pocket maximum (individual): $ 5, Employee: 35% [SIGNATURE PAGE FOLLOWS] 3

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9 Site Selection Factors Company Name: Sunshine Minting, Inc. County: Clark County Section 1 - Site Selection Ratings Directions: Please rate the select factors by importance to the company's business (1 = very low; 5 = very high). Attach this form to the Incentives Application. Availability of qualified workforce: 5 Transportation infrastructure: 3 Labor costs: 3 Transportation costs: 3 Real estate availability: 4 State and local tax structure: 4 Real estate costs: 5 State and local incentives: 5 Utility infrastructure: 4 Business permitting & regulatory structure: 4 Utility costs: 4 Access to higher education resources: 3 OTHER FACTORS & RATINGS: Centralized location and entertainment infrastructure for our Global clients base. (4) 5

10 5(A) Capital Equipment List Company Name: Sunshine Minting, Inc. County: Clark County Section 1 - Capital Equipment List Directions: Please provide an estimated list of the equipment [columns (a) through (c)] which the company intends to purchase over the two-year allowable period. For example, if the effective date of new / expanded operations begins April 1, 2015, the two-year period would be until March 31, Add an additional page if needed. For guidelines on classifying equipment, visit: tax.nv.gov/localgovt/policypub/archivefiles/personal_property_manuals. Attach this form to the Incentives Application. (a) ( b) (c) (d) Equipment Name/Description # of Units Price per Unit Total Cost Extrusion Press 2 $350, $700, Coining Press 3 $1,050, $3,150, Nitrogen Generation 1 $300, $300, Robotics Packaging System 2 $200, $400, Water Reclamation System 1 $150, $150, Dryer 1 $50, $50, Compressors 2 $30, $60, DI Water System 1 $25, $25, Burnishing System for Small Bkanks 2 $325, $650, TOTAL EQUIPMENT COST Is any of this equipment* to be acquired under an operating lease? *Certain lease hold equipment does not qualify for tax abatements Yes $5,485, No 6

11 5(B) Employment Schedule Company Name: Sunshine Minting, Inc. County: Clark Section 1 - Full-Time Equivalent (FTE) Employees Directions: Please provide an estimated list of full time employees [columns (a) through (d)] that will be hired and employed by the company by the end of the first eighth quarter of new / expanded operations. For example, if the effective date of new / expanded operations is April 1, 2015, the date would fall in Q2, The end of the first eighth quarter would be the last day of Q2, 2017 (i.e., June 30, 2017). Attach this form to the Incentives Application. A qualified employee must be employed at the site of a qualified project, scheduled to work an average minimum of 30 per week, if offered coverage under a plan of health insurance provided by his or her employer, is eligible for health care coverage, and whose position of a primary job as set forth in NAC (a) (b) ( c ) (d) (e) (f) New Hire Position Title/Description Number of Average Hourly Average Weekly Annual Wage per Positions Wage Hours Position Total Annual Wages Engineer 4 $ $84, $337, Manager 2 $ $95, $191, Supervisor 4 $ $56, $225, Operator 125 $ $34, $4,290, Executives 5 $ $200, $1,000, Manager 2 $ $95, $191, Sales and Marketing 6 $ $45, $274, New Product Development 6 $ $46, $280, Tool and Die 10 $ $42, $421, Maintenance 6 $ $52, $312, TOTAL 170 $19.36 $7,523, Section 2 - Employment Projections Directions: Please estimate full-time job growth in Section 2, complete [columns (b) through (c)]. These estimates are used for state economic impact and net tax revenue analysis that this agency is required to report. The company will not be required to reach these estimated levels of employment (a) 3-Year 4-Year 5-Year (b) (c) (d) 25 $15.00 $780, $15.00 $1,560, $15.00 $780,

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14 Sunshine Minting, Inc. World Class Supplier of Precious Metal Products

15 Background Sunshine Minting, Inc., with it s primary location in Coeur d Alene, Idaho, have been involved with the supply of physical product into the precious metals markets since the late 1970 s. It is our intention to give you an understanding on the history of Sunshine Minting, our role in the Coin and Mint Industry, and how we have endured for over 30 years to become the largest silver supplier in the world to the Minting industry worldwide.

16 History 1979 to Now Over 30 years of Experience

17 TENTEX The Humble Beginnings: SMI began in 1979 in Chino, CA under the name TENTEX (an amalgam of the words Texas and Tennessee, where the husband and wife team were from respectively). At that time, the company primarily made 1 oz. silver rounds, and silver extruded bars for coin dealers and marketing companies around the country. The company quickly established a reputation for quality and was then acquired in 1984 by Sunshine Mining, of Kellogg, ID. In that year, the company relocated from Chino to Coeur d Alene and was re-named Sunshine Bullion Company. As SBC, the company expanded their dealer list significantly, and introduced a line of Silver Bullion products, the Silver Eagle, which still exist today, and are one of the most recognized and sought after brands in the world. The relationship with the mining company lasted 10 years, until at the end of 1993, Sunshine Mines sought to sell the minting division, primarily driven by the weak commodities prices. The former owner of the company and his wife bought the company back and created a new private company, Sunshine Minting, Inc.

18 Sunshine Minting Inc. The Early Years: From 1994 until 1997, SMI struggled as a small company in a market saturated with other competitors. Losing the backing of the Mines caused a significant setback as the company lost access to a virtually unlimited supply of free market silver. The owner of the company recognized that as a small business, it was critical for the survival of the company that they secure a steady, long-term contract with a customer for the ongoing supply of product. In looking at the marketplace, one significant opportunity kept presenting itself the supply of 1 oz fine silver blanks to the US Mint. This would be an ideal relationship for a small company, such as SMI to secure a solid long-term customer. However, the question remained how will SMI go about getting a contract with the US Government?

19 The Johnson Matthey Connection The Formative Years At the same time that SMI was struggling with the transition from a division of a publically traded company to a small privately held company, on the other side of the continent and a whole country away, Johnson Matthey Limited of Canada (JML) had been awarded contracts for the production of gold Eagle and silver Eagle blanks for the US Mint under the US/Canada Free Trade Agreement (NAFTA). In 1996, Johnson Matthey decided to move into a strategically different direction with it s manufacturing and needed to exit the blank fabrication business. This presented the perfect opportunity for another vendor to assume the contract for the supply of blanks. Through cooperation with the US Mint, JML was introduced to SMI and was asked to assist with the transition of the program from Canada to the US. In February of 1997, a team from JML, flew to Coeur d Alene from Toronto for one week to assist SMI with the development and refinement of their processes to meet both the quantity and stringent quality requirements that the US Mint demanded.

20 The Johnson Matthey Connection The Formative Years The willingness and desire of all the folks at SMI paid off, and within a few months, we were able to successfully transfer the contract from JML to SMI, for the supply of 75,000 blanks per week! As part of the ongoing plan for growth that the owner had, he sought out some key management assistance to ensure that they could sustain the plan and continue to be a key supplier to the US Mint. In May of 1997, Tom Power left JML to join SMI as their Operations Manager, working closely with the owner and other members of the management team maintain the US Mint contract.