EFTA Document EFTA01374630

INVESTMENT STRATEGY - QUALIFIED OPPORTUNITY ZOillE3 • Through RXR's ESM Strategy, RXR has amassed downtown redevelopment projects such as (a) large- scale, single-site, transit-oriented development projects, and (b) master-development projects; through these strategies, RXR has built a pipeline of opportunities within QOZs • RXR's commitment to invest in QOZs provides RXR with access to a pipeline of new opportunities in those areas • RXR believes that it has a significant "first mover" adva