DBS

60 PROPERTY CROWD REAL ESTATE DBS COBHAM HOTEL BOND The first deal we made available on the Property Crowd platform was our Cobham Hotel bond in January 2017. The investment offered investors an 11.2% IRR over a 5-month holding period, and was secured by first legal charge over a Grade II Listed hotel asset in the Greater London area. In 10 days, Property Crowd fully funded our half of the £1 million senior tranche in a consolidated loan facility. The borrower (i.e. the owner of the hotel) had already received a conditional offer to purchase the asset for £2.2 million but simply needed a short- term bridging loan for cash flow reasons. The loan was to have been redeemed in June 2017, but barely a month after we closed the crowdfunding, investors were informed that the borrower had repaid early (with a minimum interest that applied regardless), thereby resulting in an exceptional 27% IRR for Property Crowd investors over the holding period. CASE STUDY DEALS OFFERED VS. REALISED IRRS OFFERED REALISED CUMULATIVE PLATFORM DEAL VOLUME (£M) JAN FEB MAR APR MAY (PROJECTED) ABOUT PROPERTY CROWD Property Crowd was acquired by Global Alternatives last year and relaunched in January 2017. Property Crowd focuses on providing “institutional grade” real estate- backed investment opportunities for HNW / Sophisticated investors. We provide our investors with simple and transparent access to high quality deal flow, partnering with established industry leaders to deliver superior risk-adjusted returns. We have built our platform specifically with the professional investor in mind, from deal structures to custodial safeguards. Crowd deals are originated and managed by independent and core- competent institutional lenders and asset managers, and when you invest, your funds and securities (bonds or shares) are held by regulated custodians. In short, our unique Prime Custodian Model℠ delivers a comprehensive institutional grade infrastructure behind every investment opportunity offered on our platform. Property Crowd is part of Global Alternatives, which will launch a cross- border property trading exchange in 2017. All securities originated by Property Crowd will be listed on this exchange, offering investors the real- time liquidity of an exchange order book. DEBT BASED SECURITIES OFFER We are currently raising around £1.4 million for the Silbury Boulevard bond issue, with half the issue already funded. This senior secured debt investment is structured as a zero- coupon bond offering a 10.2% IRR, has four months remaining to the expected redemption date. It benefits from a conservative LTV of 52.5%. As participants in the senior tranche, Property Crowd investors have first legal charge over the underlying asset – two brick built commercial buildings on a 0.74 acre freehold plot of land in central Milton Keynes. The underlying borrower is a property investment and development business active primarily in the North of England. The developer has agreed heads of terms to enter into a forward sale agreement of the asset, which has planning permission, with a FTSE 250 listed institutional landlord in the UK (subject to certain conditions). As a result, we are confident that the loan will be repaid in full and on/ ahead of time. Investors in Deal 1 received an exceptional return after the underlying borrower repaid the loan early, which most reinvested into Deal 2. 30% 22.5% 15% 7.5% 0% DEAL 1 DEAL 2 DEAL 3 DEAL 4 12% 11.2% 27.4% 10% 10.2% £4m £5m £3m £2m £1m £0