EFTA Document EFTA01378886

Strictly Confidennot Not for Olsniburlon. avw,dadmvesron Only Fund Profile i 2019 GTIS Qualified Opportunity Zone Fund %10.07F" GTIS Partners LP Examples of Prior Investments in Opportunity Zones Boulder Mixed-Use Vegas Corporate Park Phoenix Residential Total Deal Size: $109M GT15 Commitment: $26.5M Closing Dote: lune 2015 Projected Gross !RR: 18%m Projected Multiple: 2.0xm Total Deal Size: GTIS Commitment: Closing Dote: Realized Gross MR: Project Overview • Mixed-use project comprised of 242 multi-family units and 135,500 NSF of Class A office in Boulder, CO • Project broke ground in September 2018 and construction is projected to be completed over a 31 month period • Experienced development partner with prior GTIS commitments • GMP and developer budget guarantee in place • Office portion pre-sold to Google with a substantial upfront deposit $150M $14.3M March 2006 73.2% Realized Multiple: 2.03x Total Deal Size: $48.3M GM Commitment: $43.6M Closing Dote: Oct 2012 Projected Gross IRR: 14.5%m Projected Multiple: 2.23x0) Project Overview • Acquisition of nine office and warehouse properties and development parcels in a corporate park adjacent to Las Vegas McCarran Intl. Airport • Acquired significantly below replacement cost • Leased nearly 140,000sf of space within four months of closing, mostly to investment-grade credit tenants • Sold leased properties at 44% above purchase price Project Overview • GTIS acquired the Cadence master plan in partnership with Harvard Investments in 2012, and is currently developing the infrastructure needed to support a community of over 2,500 residential units • Designed for 2,080 single family lots, 350+ multifamily units, and 51 acres of commercial space • All ten parcels in Phase 1 sold to national and regional homebuilders with plans to build and sell single-family homes • Potential to separate remaining single-family rental and commercial parcels in the master plan into an Opportunity Zone investment (II Target Gross IRR refers toportfolio returns after leverage and N partner promotes but before fund-level expernes and fees lind I:menthe feesj.Irdkridual asset targets may differ materially from the ranges shown (21 Target Net IRR takes into account fureklevel expenses and fees (including any incentive feet but does rot include the impact of tax benefits eelaced to investing in QO2s. (31 Gross Assets under Management Offen from Regulatory Assets Under Management. as reported in regulatory filings. and represent the gross appraised value of assets managed byGM and it pint venturer pertness as of Q12019. Figures may Wu* minority joint venture partners' ownership interests where apraicaNe. Figures also include arty limited Partner unfurded commitments to GTIS separate accounts, finds and co-Investment vehicles. Eittres exclude both property-level debt as well as working capital at the pint venture or aggligang %trickle entitles. (al GTISGROal Investment Portfolio Is composed of specs. $11136 of mum comrivtted to investments in the US and appros SUBS tokrvttments In Brazil (at an IX rated 3.29 eiRtAISD). (SI Projected gross returns are based on GTIS's latest monthly cash now projections for the asset. generally using the 'RR Function in Excel we monthly compounding Projected multiple is calculated as the sum of the projected peak equity requirement and projected profit divided by the projected peak equity requirement. The mojettieris do not include the impact of all taxes paid on behalf of the knited partners. Legal Disclaimers This presentation is for infomsation purposes oriyard isnot intended as investment advice. The presentation does not constitute an offer to sell or a soliaikation of an offer to buy any securities, which will only be made pursuant to definitive written offering doom/its. this presentation has been prepared co a confidential hub Any reproduction or distribution of tit presentation in whole or in part, or the disekswe of any of its contents, without the prior consent of GTISis probbited This presentation contains foivarthlooking statements that are not Nstorici facts. These forward-looking statements Include statements, eqxess or knelled, few:Mg the current expectations, estimates. projections, opinions and beliefsOi GTIS. Such statements are (owned-looking In nature and involve a number of blown and unbsown Mks, uncertainties and other ferias, and accordingly, actual results may differ materially and no assurance can be given that GMvd1 execute such projected investments or va achieve the returns from its investments that Ii targeting. Past performance is not necessarily ir4kative of future results. There can be no guarantee or assurances that similar imestment opportunities WI be executed on et available in the future a that GTISMII realize stellar returns on these imestrners. Recipient should make its own investigations and evaluations of the krionnation contained herein. Recipient should consult Its own attorney. business adviser and tax advisers as to legat business, taxied related matters concerning the information contained herein. Nothing contained here., should be deemed to be prediction or projection of future performance. My projected returns depicted herein represent -forward looking- informmion, and such projected returns are based on numerous assumptions about future events or conditiom and, at the investment levet are based on assumptions made at the time of original undennwane or cater re. underscoring update. Actual events or conditions are uriliceb to be consistent and may differ materially from those assurred. No assurance can be ghren as to Gns's ability to achieve projected returns. Recipient is cautioned not to place undue reliance on any fonvardloobng statements or examples included herein, and GTIS assumes noobligation to update arty foiwardboking statements as a result of new information subsequent events or any other circumstances. Such statements speak only as of the date that they were ortgirullsr made while such reformation is believed to be leiabie for the DurP3se used herein. GTIS does not assume any responsibility for the accuracy ce completeness of such Information and such infarnatIon has not been Independently verified lay VITS. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0076157 CONFIDENTIAL SDNY_GM_00222341 EFTA01378886