ampuses are vibrant areas despite lower student incomes 4 Contiguous Tracts • Tracts contiguous with qualified Census tracts may be included in Opp Zones to create more uniform areas • Resulted in inclusion of some highly coveted areas - e.g. West and East of 1-87 in San Jose are very different ar

es diversification across markets and partners • Developer/Operator — direct development or construction oversight of JVs critical for execution in Opp Zones Opportunity Zone Experience • Prior deals — 7 projects with over S180m of equity commitment, including 1.8m stilt. of commercial and 4,000 planned

ets amemigima • Up-and-coming neighborhoods in NY, LA, Bay Area, Seattle • Gateway cities more defensive across cycles, more liquidity • However, Opp Zones in gateway cities are often distressed, marginal areas or require environmental remediation • Urban gateway locations are dense — demolition of exi

GTIS Has Mapped Out Target Opp Zones and Construction Pipeline for Sourcing Deals Designated Opp Zones GTIS Target Opp Zones Pipeline Projects by Number of Units o 1-25 O 25-100 • 100-250 • 250-500 500-1,000 1,000-2,500 2,500+ Property Na

GTIS Has Mapped Out Target Opp Zones and Construction Pipeline for Sourcing Deals Designated Opp Zones GTIS Target Opp Zones Pipeline Projects by Number of Units o 1-25 O 25-100 • 100-250 • 250-500 500-1,000 1,000-2,500 2,500+ Property Na

ets amemigima • Up-and-coming neighborhoods in NY, LA, Bay Area, Seattle • Gateway cities more defensive across cycles, more liquidity • However, Opp Zones in gateway cities are often distressed, marginal areas or require environmental remediation • Urban gateway locations are dense — demolition of exi

es diversification across markets and partners • Developer/Operator — direct development or construction oversight of JVs critical for execution in Opp Zones Opportunity Zone Experience • Prior deals — 7 projects with over S1H0m of equity commitment, including 1.8m stilt. of commercial and 4,000 planned