CONCLUSION • RXR believes that it is uniquely positioned in the New York metropolitan area real estate market, given its rank as one of Manhattan's largest landowners, its multi-disciplined, fully- integrated platform, management experience and Power of Local competitive advantage • Because of its understanding of the New York Metropolitan area real estate market, RXR employed its Emerging Submarket Strategy to be an early mover in peripheral submarkets • RXR's ESM Strategy investments are a source of a number of opportunities including those in QOZs, resulting in RXR's QOZ pipeline • The creation of the Fund will enable RXR to accelerate projects within QOZs and spur the economic development these communities need • Through RXR's collaborative spirit and corporate philosophy of "doing good and doing well," RXR recognizes the need for responsible investment, particularly in order to successfully participate in these submarkets and QOZs • RXR has a history of responsible investment in the communities in which it participates, and will endeavor to expand its Impact Investment efforts in order to achieve the social benefits contemplated by Congress when it drafted the QOZ legislation RXR I 53 Alpha Group Capital (R) signifies a rendering. 58 of 75 DB-SDNY-0069457 SDNY_GM_00215641 RXR CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL EFTA01374656