EFTA01454847

Attractive market with strong fundamentals Strong demand for high- end and luxury residential resort properties, driven by the substantial growth of wealth creation in emerging markets Most visited country in the world 2012 International tourists (in m) 83.0i 67 0 57.7 67.7 illINIMMEN 46.4 35.7 30.4 EN MOM 29.3 S0WCf; World Tourism emani,300O Attractive length of golf stays Top visited historic sites • Arc de Triomphe • Mont Saint Michel ANA Château de Mir Chamboid 3 nights or longer 22% 4-7 nights 66% Sofa.", AMPS Gat Ins4Mts 2013 2010 • Asia-Pacific • Wale East Strong growth of UHNWIs, our target market CAGR2COS - 2012: 8.5% 101 In= 2009 allorth America -Laun America 11.9 2011 2012 Europe -Africa Sam*: WW2 Wealth reyX11 2013, Cafrgemmi Key demand factors for second homes Cultural/ Golf historical attractions S.su ;1 Ski Beach Children's Marina lake entertainment 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00259417 DB-SONY-0113233 EFTA01454847