Attractive market with strong fundamentals Strong demand for highend 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) 83.0l 67 0 57.7 67.7 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% Sooror, KPMG Gat Ins4Mts 2013 2010 • Asia-Pacific • Wale East Strong growth of UHNWIs, our target market 0AGR 2008 - 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 Beach Ckildren's Marina entertainment lake Ski So..,, ;1 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00248494 DB-SDNY-0102310 EFTA01447624