EFTA01378896.pdf

GTIS Opportunity Zone Strategy 1[0 Diversified, Commingled Fund Location-based Approach Capital appreciation strategy (10+ yr hold) Geographically defined areas that have high need for investment as well as proven Long-term economic, demographic and growth potential social factors that will shape the living and working environment of the future Up-and-coming neighborhoods in Gateway cities - NY, SF, LA Diversified strategy with national execution to manage market risk and Growth markets — DEN, PHX, DAL specific development risk (Multifamily, Opportunity SFR, Office, Logistics, Infra) . Market research and submarket Zones selection critical to identify Opp Commingled diversified pool with Zones that will succeed fund-wide waterfall to align incentives Development Oriented Strategy r "Substantial improvement" - heavy focus on ground-up development and redevelopment (urban and suburban) "Original use" - nearly complete projects to mitigate development risk but at a lower initial yield 11 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0076169 CONFIDENTIAL SDNY_GM_00222353 EFTA01378896