EFTA Document EFTA01454838

Low risk profile with attractive returns Self financing project in the third year of development thanks to residential phased sales results in limited cash flow requirements Financial summary Sale pnee (E; sq ft) Net salesm (Ern) Cost (€ Total Cost -; (Ern) Total Profit t.4% Residential development # of luxury estates 1,022 850 (279) (315) 535 63% # of luxury golf lodges 883 1,628 (200) (504) 1,124 69% # of hotel branded residences 883 561 (200) (173) 388 69% Total Hotel & other facilities Additional value created from hotel and other facilities (€m) Hotel and other facilities development costsm (Ern) 1 1 Infrastructure development costs l3) (Em) 104 (61) (66) Total estimated profit (ft) Profit on costs Time horizon 10 years (I) Nel sales posl tnarke4ing. agency and legal fess varth 2% Inflution assumed on saki ("ice (xv armas ()WV DITP9 hot lion (2) rota( cosi past caltiverk4 and pforeesion.,/ tees wfth 2% inflation asuared on cox( per sea amiss ptojeci taw loam) (31Inclucles central bliraStIllattle and wasting chateau reantuchnbior (4) f rwittoIts 11,AI are triwies cleserkparn! sod egistrai ovuillnaas 6 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0113214 CONFIDENTIAL SDNY_GM_00259398 EFTA01454838