Mammoth Mountain Luxury Resort Deck

M A M M O T H M O U N TA I N LUXURY RESORT

CAPITAL RAISE Deck

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01

INTRODUCTION

YOUR STRATEGIC CAPITAL PARTNER

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Agent Capital - Your Strategic Capital Partner: Agent Capital specializes in orchestrating comprehensive capital stacks for a diverse range of commercial real estate ventures, focusing on multi-family and hospitality, along with a commitment to fostering renewable energy development projects. Our seasoned team brings decades of collective experience, blending expertise in raising equity and driving successful project development.

Our Strengths: - Proven Track Record: With a rich history in the industry, we have successfully navigated numerous capital raise endeavors for a variety of projects.

- Focused Sectors: Specializing in multi-family and hospitality sectors, as well as contributing to the growth of renewable energy, reflects our commitment to sustainable and impactful investments.

- Extensive Network: We have meticulously built a robust database that includes hedge funds, family offices, and individual high-net-worth investors. This network is a testament to our ability to connect with diverse funding sources.

- Personal Relationships: Our team values and cultivates personal relationships with repeat investors. This trust and rapport ensure a solid foundation for continued collaboration.

- Cutting-Edge Technology: Leveraging advanced technology, our platform guarantees a seamless and efficient path towards successfully raising the funds required for high-quality projects.

Our Approach: - Marketing Priority: Recognizing the importance of market presence, we prioritize a strategic and targeted marketing approach to enhance project visibility and attract potential investors.

- Discipline for Detail: Every aspect of our operations is infused with a meticulous attention to detail. From project assessment to investor engagement, we pride ourselves on maintaining the highest standards of professionalism and precision.

- Your Success is Our Priority: At Agent Capital, we are not just a financial partner; we are an integral part of your success story. Our commitment to excellence, coupled with a proactive approach to raising capital, ensures that your projects receive the attention and funding they deserve.

Discover the Agent Capital advantage – where experience, relationships, and technology converge to elevate your venture to new heights.

We look forward to being a key contributor to your success.

ABOUT

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About John McMonigle and Agent Capital: John McMonigle Visionary Leader in Southern California Real Estate: Meet John McMonigle, a stalwart in the Southern California residential real estate community, renowned for his exceptional track record in selling over $9.0 billion in real estate. John's illustrious career extends beyond sales; he has been instrumental in building successful brokerage companies, establishing escrow divisions, and founding mortgage companies.

A Journey of Building and Connecting: Throughout his journey, John has not only amassed a wealth of experience but has also cultivated lasting relationships with affluent private investors and institutions. His ability to forge these connections stems from his commitment to excellence and a deep understanding of the real estate landscape.

Extensive Project Development Expertise: A true visionary, John McMonigle has personally overseen the development of hundreds of millions of dollars worth of residential, mixed-use, and commercial projects. His hands-on involvement ensures a nuanced understanding of every facet of project development, from conception to completion.

Natural Evolution into Capital Raising: With a career steeped in real estate success, delving into raising capital for development projects was a natural evolution for John. His unique position in the industry, coupled with a vast network of investors, positions Agent Capital as a powerhouse in the realm of capital raising.

Insightful Synergy: John's insight into all aspects of equity, finance, development, and sales strategies positions Agent Capital as a distinctive solution in the market. The synergy between his extensive experience and the vision for Agent Capital creates a dynamic platform capable of navigating the complexities of real estate investment and development.

Agent Capital - Uniting Vision and Expertise: Agent Capital, under John McMonigle's leadership, embodies a commitment to innovation and excellence. It is not just a capital-raising entity; it is a dynamic solution that brings together the vision, experience, and strategic prowess needed to drive success in real estate development projects.

As we embark on this journey with Agent Capital, we invite you to witness the fusion of expertise and vision, creating unparalleled opportunities for investors and developers alike.

INVESTMENT OPORTUNITY

Investment Opportunity: Mammoth Mountain Resort Introduction: Welcome to the Mammoth Mountain Resort Investment Opportunity, a truly exclusive chance to be part of a groundbreaking venture in one of the most coveted destinations in North America. This opportunity stands out as an elite investment due to the rarity of available land with immediate access to prime amenities, creating a substantial barrier to entry in this marketplace.

Market Dynamics: Mammoth Mountain, renowned as one of the premier ski destinations in North America, is characterized by scarcity when it comes to suitable land for luxury development. The prime amenities, combined with immediate access, make this investment opportunity exceptionally rare and difficult to replicate. The strategic location of this property sets it apart, ensuring a distinct competitive advantage.

High Barrier to Entry: The scarcity of available land, particularly with the unique attributes required for immediate access to prime amenities, creates a high barrier to entry for potential competitors. This scarcity factor positions our investment opportunity as an exclusive chance to secure a prominent position in the market.

Untapped Luxury Market: The Mammoth Mountain Resort Investment Opportunity addresses a significant gap in the market – the absence of a true five-star luxury accommodation option. Despite the mountain's popularity, the demand for high-end lodging has remained unmet, presenting an untapped and lucrative market for investors.

Demographic Support: With a demographic base exceeding 33 million people in California alone, Mammoth Mountain has an immense potential customer pool. The strategic location and unique offerings of this investment align perfectly with the preferences and expectations of the sophisticated and discerning demographic that seeks luxury experiences.

Perfect Timing: This opportunity is not just about the right property; it’s about the right team at the right time. The confluence of a prime location, a team with a proven track record in resort development, and the current market demand positions Mammoth Mountain Resort as an investment poised for success.

Why Now? With Mammoth Mountain experiencing a shortage of true luxury accommodations and the demand for such experiences reaching an all-time high, this investment opportunity comes at a pivotal moment. Seize the chance to be part of a project that is not just meeting the current demand but setting new standards for luxury living in this renowned destination.

Conclusion: The Mammoth Mountain Resort Investment Opportunity is an unparalleled chance to enter an exclusive market, address a significant gap in luxury accommodation, and be part of a venture set to redefine the hospitality landscape in Mammoth Mountain. Don’t miss your opportunity to be part of this extraordinary investment at the right time with the right team.

VISION MISSION

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VISION AND MISSION Mammoth Mountain Resort Mission: Elevating Hospitality to New Heights Mission Statement: The Royal Crown Group is driven by a mission to introduce a true five-star hotel to Mammoth Mountain, a venture designed to fill a unique market niche.

Our vision is not merely to create accommodation but to elevate the hospitality experience in this iconic destination.

Strategic Location: Situated in Mammoth Mountain, one of the premier ski destinations in North America, our mission is fueled by the recognition of this extraordinary locale.

The mountain boasts a rich skiing legacy, drawing enthusiasts from a vast demographic of over 33 million people in California alone.

Market Void: Despite the popularity of Mammoth Mountain, there is a distinct absence of luxury accommodations catering to the discerning traveler. Our development endeavors to rectify this gap, responding to the long-overdue demand for top-tier hospitality experiences in this breathtaking setting.

Fulfilling Demands: Our mission is grounded in the understanding that Mammoth Mountain deserves a hospitality offering that matches its grandeur. The limited luxury accommodations available to date only underscore the untapped potential for an upscale retreat that aligns with the expectations of the sophisticated traveler.

Beyond Accommodation: Our commitment extends beyond providing rooms; we aim to curate an immersive experience that complements the natural beauty and adventure that Mammoth Mountain offers. This development is not just a hotel; it is a destination in itself, weaving seamlessly into the fabric of the Mammoth community.

Creating a Legacy: By embarking on this mission, we aspire to leave a lasting legacy in Mammoth Mountain. This development is not just a business venture; it is a contribution to the local economy, a commitment to sustainability, and a promise to enhance the overall appeal of this cherished destination.

Collaborative Success: We envision the Mammoth, CA Mission as a collaborative effort, bringing together the expertise of Agent Capital, the renowned builders at Swinerton, and the architectural brilliance of SB Architects. Together, we aim to redefine the standards of hospitality in Mammoth Mountain and set a new benchmark for luxury living in this unparalleled setting.

Join us on this mission to transform Mammoth Mountain into a haven for luxury, where every visitor is not just accommodated but celebrated in an environment that reflects the true spirit of this remarkable destination.

MEET THE DEVELOPMENT TEAM

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MEET THE DEVELOPMENT TEAM

DAVE CHAPMAN CHAIRMAN AND CHIEF EXECUTIVE OFFICER:

- Educational Background: Holds a B.A. in Political Science from Baldwin Wallace University and served as class President for four years.

- Industry Expertise: Boasts over 40 years of experience in the resort real estate business.

- Career Highlights: Nationally renowned for innovations in resort development, sales, and marketing.

- Accomplishments: Served as a Director of the most productive division in the United States for The Ritz-Carlton Club for nearly 14 years.

- Recognition and Awards: Recognized for excellence in customer relations, service, and charity work.

- Network: Known for strong relationships with well-known athletes, entertainers, corporate, and government leaders worldwide.

- Role: Dave will serve as CEO with a primary focus on hotel development and real estate sales.

- Educational Background: Holds a B.S. in Business Administration from Arizona State University.

- Financial Expertise: Formerly a Registered Representative, Registered Investment Advisor, and Certified Financial Planner.

- Career Experience: Involved in various aspects of the financial services industry, including insurance, stock brokerage, financial planning, and investment advising.

- Credentials: Former NASD registered representative (series 6, 7, 22, 65).

- Entrepreneurial Ventures: Successfully led startup companies to become publicly traded organizations trading on NASDAQ as their CEO. - Automotive Racing: Team Owner in the NASCAR Craftsman Truck Series and founder of the ASA Mechanix Wear Speed Truck Challenge Series, one of the most successful specification racing series of its kind, with 14 years of extensive national television coverage.

- Resort Properties: Experienced in restructuring and financing of resort properties over the last decade.

- Role: Jay will serve as President and CFO. Jay's knowledge and financial community connections are invaluable assets to the Royal Crown Group.

Strategic Partnerships: - Construction Partner: The Royal Crown Group collaborates with Swinerton Builders of Sacramento, CA (www.swinerton.com), an organization with a legacy dating back to 1888 and nearly $6 billion in assets. Swinerton has a proven track record with successful projects, including multiple Ritz-Carlton and other Five Star entities. The partnership with Swinerton adds strength to our team.

Architectural Excellence: - Architectural Partner: The Royal Crown Group has chosen SB Architects (www.sb-architects.com) and its leader, Scott Lee, to guide their first-class, Five-Star development.

SB Architects, based in San Francisco, CA, is renowned worldwide for professionalism and

JAY RUTHERFORD PRESIDENT AND CHIEF FINANCIAL OFFICER

their ability to deliver excellence at a Five-Star level, including current and former Ritz-Carlton projects. They are a vital part of our team and will contribute to making our destination resort one of the most sought-after in the country in the upcoming months.

The expertise and connections of our leadership team, along with our strong partnerships, are pivotal to the success and growth of the Royal Crown Group's project. We believe that with this exceptional team, we are well-positioned to achieve our vision and create a remarkable destination resort. Please feel free to contact us for further information or inquiries.

PARTNERS

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02 PROPERTY DETAILS

ASSET OVERVIEW

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Property Overview: Prime Development: Situated on 5.37 acres in a well-established, iconic mountain resort location.

Excellent Location: The property boasts a pedestrian bridge connecting it to the Ski Gondola and Village Center. It is also within walking distance of an 18-hole championship golf course.

All-Seasons Destination: This resort enjoys extraordinary year-round demand, generating over $24 million in Transient Occupancy Tax annually.

Accessibility: Recent regional airport expansions have resulted in direct passenger air service from numerous US airports, attracting over 200,000 annual air travelers to the mountain resort.

Development Details: Zoning: The project is zoned for a 550-room development, comprising 150 3-bedroom 'Lock-Off' Luxury Private Residence Condos and a 100-room 'Lodge Style' hotel with Luxury Suites and Penthouses.

Amenities: The development includes a Convention Center, Public Plaza, Major Spa, Amphitheater, Wedding Venue, Retail, Restaurants, Bars, and Parking Garages.

Parking Revenue: The property site currently generates $800,000 in gross annual parking revenues, which will continue with the addition of a new 600-stall parking garage.

LOCATION MARKET ANALYSIS

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LOCATION AND MARKET ANALYSIS: DISCOVER MAMMOTH MOUNTAIN

Welcome to Mammoth Mountain: California's Alpine Gem: Nestled in the heart of the Eastern Sierra along the picturesque 395 corridor, Mammoth Mountain stands as California’s highest four-season resort, reaching a summit of 11,053 feet above sea level. Boasting 300 days of annual sunshine, this legendary destination invites residents and visitors to revel in endless recreational opportunities and year-round scenic beauty.

Southern California's Mountain Home: Mammoth Mountain proudly claims the title of Southern California’s mountain home, offering a perfect playground for outdoor enthusiasts and luxury seekers alike. Whether blanketed in pristine snow or bathed in golden sunshine, Mammoth provides an unparalleled setting for a resort experience unlike any other.

Geographical Context: Where is Mammoth? Mammoth Mountain is situated in Mammoth Lakes, California, easily accessible along the 395 corridor. The drive from Los Angeles takes approximately 5 hours, while it's a 3-hour drive from Reno, Nevada. During the summer months (May–October), the scenic Tioga Pass through Yosemite National Park opens, allowing a mesmerizing 6-hour drive from the Bay Area.

Unique Selling Proposition: No Competing Five-Star Resort: A distinctive feature of Mammoth Mountain is the absence of any competing five-star resort within the area. This rarity places Mammoth in a league of its own, providing a unique opportunity for an upscale destination that stands uncontested in the market.

Vast Demographic Support: Over 33 Million Potential Patrons: The Mammoth Mountain region is strategically positioned to tap into a vast demographic base, with over 33 million people residing in California alone. This expansive population, combined with Mammoth's allure, creates an extensive and diverse customer pool, ensuring sustained demand for both outdoor activities and luxury accommodations.

Year-Round Allure: Infinite Recreation and Scenic Beauty: The resort's year-round appeal is bolstered by its 300 days of sunshine, offering an ideal environment for a plethora of outdoor activities. From world-class skiing in the winter to hiking, golfing, and biking during the warmer months, Mammoth Mountain's natural splendor transforms it into a haven for adventure enthusiasts.

Conclusion: A Visionary Investment Destination: Mammoth Mountain is not just a location; it's a destination with unparalleled potential. The absence of a competing five-star resort, coupled with the breathtaking beauty and year-round recreational opportunities, positions this locale as a visionary investment destination. The Mammoth Mountain Resort venture is poised to not only meet but exceed the expectations of luxury-seeking patrons in search of a unique alpine experience.

Property Highlights: A Symphony of Luxury and Convenience Prime Location, Exclusive Luxury: Situated on a pristine 5.37 acres in the heart of an iconic mountain resort, Mammoth Mountain Resort stands as a beacon of luxury and exclusivity. This prime development is more than just a property; it's a masterpiece in the making.

Bridging Luxury to Adventure: An exquisite pedestrian bridge connects the resort seamlessly to the Ski Gondola and Village Center, providing guests with not just access but a grand entrance to an alpine wonderland. This architectural marvel is a prelude to the opulence that awaits within.

Golf, Gourmet, and Glamour: Immerse yourself in luxury within walking distance of an 18-hole championship golf course, where stunning vistas meet world-class fairways. Indulge in culinary delights at our exclusive in-house restaurants, curated by talented chefs, promising a gastronomic journey to remember.

All-Season Elegance: This resort transcends the boundaries of seasonal appeal, offering a year-round haven for those seeking the pinnacle of mountain luxury. Extraordinary demand, generating over $24 million annually in Transient Occupancy Tax, testifies to the timeless allure of Mammoth Mountain Resort.

Airborne Grandeur: Recent regional airport expansions ensure direct passenger air service from numerous US airports to Mammoth Yosemite Airport in Mammoth Lakes with 88 passenger jets and 737’s and 757’s to Bishop, CA

airport just 30 minutes from Mammoth Lakes, welcoming over 200,000 annual air travelers to the majestic mountain resort. This seamless accessibility enhances the resort's global appeal, making it a destination of choice.

Decadent Amenities, Unrivaled Elegance: Zoned for a 550-room development, Mammoth Mountain Resort promises a symphony of accommodation options. From the 3-bedroom 'Lock-Off' Luxury Private Residence Condos to the 100-room 'Lodge Style' hotel featuring opulent Suites and Penthouses, every space exudes luxury.

Beyond the Expected: Indulge in the extraordinary with a Convention Center, a vibrant Public Plaza, and a Major Spa designed to pamper and rejuvenate. The Amphitheater sets the stage for unforgettable events, while the Wedding Venue creates timeless memories in a picturesque setting.

Culinary Excellence and Parking Pleasures: Savor the exquisite creations of talented chefs at our new restaurants within the hotel, where every meal is an epicurean delight. And as you arrive, the property's new 700-stall parking garage ensures not just convenience but a seamless transition into a realm of unparalleled luxury.

Conclusion: Crafting an Unforgettable Experience: Mammoth Mountain Resort is more than a development; it's an immersion into a world where luxury meets adventure, and every detail is meticulously curated to create an unforgettable experience.

From gourmet indulgences to seamless accessibility, this property is not just a destination—it's an elevated lifestyle.

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FINANCIAL PROJECTIONS

FIVE-YEAR PROFORMA

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Pro Forma Snap-Shot: Year

Revenues

Year 1

$74,200,000

Year 2

NOI

Net Cash Flow

Hotel Valuation

IRR

$0

($979,702)

-

-

$95,400,000

$0

$22,874,758

$324,100,000

-

Year 3

$148,400,000

$28,447,237

$108,784,573

$366,300,000

73.8%

Year 4

$42,301,680

$28,842,484

($30,501,324)

$476,900,000

74.5%

Year 5

$43,570,730

$26,200,859

$26,200,859

$576,800,000

84.3%

Year 6

$44,877,852

$35,659,485

$35,659,485

$613,200,000

86.1%

Project Overview: - 100 Room 'All Suites' Hotel and 150 3-Bedroom 'Luxury Condos' in 'Lodge Style' Five-Star Resort.

- Construction Years: Phase 1, Phase 2, and Phase 3.

- Operating Years: Year 1 through Year 6.

Proposed 3-Phase Funding: Phase 1 (Start): $25 Million - Allocation: $17 million for land acquisition and $8 million for predevelopment activities.

- Predevelopment Activities: Include entitlements, architect, engineer, land use attorney, permits, and other soft costs for initiating non-binding luxury condo sales reservations.

Phase 2 (Six Months Later): $50 Million - Allocation: Soft Costs for the beginning of binding luxury condo sales, coupled with

pre-construction activities.

- Post-Entitled Land Values: Estimated at $31 million median to $45 million average, as per County Tax Assessor Office, by Month 7.

Phase 3: Concurrent with the investment equity funding of $50M - Allocation: C Pace funding in the amount of $92M and a senior debt construction loan of $153M. - Hard Costs: For the commencement of construction for all-suite hotel and luxury condo residences.

This phased funding approach ensures a strategic and systematic progression of financial injections, aligning with key project milestones and optimizing resource allocation.

REVENUE GROWTH

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Luxury Hotel Market to Record 11.1% CAGR over 2023-2030, Emergence of Online Booking Services Has Accelerated the Market Growth June 28, 2023 | Consumer Goods The global luxury hotels market size is estimated to display strong growth by reaching USD 293.61 billion by 2030. Fortune Business Insights™ in its report titled “Luxury Hotel Market Size, Share & COVID-19 Impact Analysis, By Room Type (Luxury, Upper-upscale, and Upscale), Category (Chain and Independent), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 128.54 billion and is expected to reach USD 140.28 billion in 2023. The market is expected to witness a strong CAGR of 11.1% during 2023-2030. Luxury stay at vacation time for the families of upper management executives at the time of business tours have primarily supported the luxury hospitality industry. The emergence of online booking services has further accelerated the market growth.

Increasing demand for premium services of luxury hotels with improved booking facilities is set to drive the market share.

EXPENSE BREAKDOWN

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Expense Breakdown: Swinerton's Conceptual Budget We present a comprehensive breakdown of the conceptual budget for the Ritz Carlton Village at Mammoth Lakes, CA. This breakdown encompasses various aspects, from foundations to site improvements. Let's explore the allocation for each component: A10 FOUNDATIONS: UNIF LVL 2: $1,200,000 ($15.00/SF) 80,000 SF, 100 Rooms: $15,000/Rm A20 FOUNDATION WALLS: 262,500 SF, 150 3 Br. Units: $11.72/SF, $9,375.00/Rm B10 SUPERSTRUCTURE: 195,500 SF, 500 Stalls: $89.19/SF, $71,350.00/Rm B20 EXTERIOR ENCLOSURE: 5 AC, 538,000 SF: $120.41/SF, $96,325.00/Rm B30 ROOFING: 500 Stalls, 5 AC: $35.50/SF, $28,400.00/Rm C10 INTERIOR CONSTRUCTION: 195,500 SF, 500 Stalls: $22.65/SF, $18,120.00/Rm C1000 INTERIOR CONSTRUCTION: 500 Stalls, 5 AC: $32.94/SF, $26,350.00/Rm C20 STAIRWAYS: 195,500 SF, 500 Stalls: $22.31/SF, $17,850.00/Rm C30 INTERIOR FINISHES: 8,545,200 SF: $106.82/SF, $85,452.00/Rm D10 CONVEYING SYSTEMS: 1,310,000 SF: $16.38/SF, $13,100.00/Rm D20 PLUMBING SYSTEMS: 6,230,000 SF: $77.88/SF, $62,300.00/Rm D30 HVAC SYSTEMS: 9,285,500 SF: $116.07/SF, $92,855.00/Rm D40 FIRE PROTECTION: 1,585,000 SF: $19.81/SF, $15,850.00/Rm D50 ELECTRICAL SYSTEMS:

5,822,500 SF: $72.78/SF, $58,225.00/Rm E10 EQUIPMENT: 1,788,500 SF: $22.36/SF, $17,885.00/Rm E20 FURNISHINGS: 1,083,254 SF: $13.54/SF, $10,832.54/Rm F10 SPECIAL CONSTRUCTION: 2,841,100 SF: $35.51/SF, $28,411.00/Rm G10 SITE PREPARATION: Details: $2.24/SF, $3,925.00/Rm G20 SITE IMPROVEMENTS: Details: $5.29/SF, $9,265.00/Rm G30 SITE PLUMBING UTILITIES: Details: $18.92/SF, $33,117.00/Rm Z10 ADMIN. REQUIREMENTS: Details: $25.63/SF, $44,850.00/Rm SITE TOTAL: $66,468,054 PRECONSTRUCTION SERVICES: GENERAL CONDITIONS: GENERAL REQUIREMENTS: GC CONTINGENCY 5%: SUBGUARD INSURANCE 1.4%: CONDO INSURANCE + BONDS 7.00%: CONTRACTOR OH & FEE 4.0%:

TOTAL: $181,418,989 Understanding the Breakdown: This breakdown provides a detailed overview of the projected costs for each stage of construction. Please refer to the attached document for a more granular understanding. We appreciate your attention to these specifics, and our team is available for any inquiries or further clarification.

CASH FLOW ANALYSIS

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Cash Flow Analysis: Key Insights and Strategic Overview Construction Years Year 1: Condo Sales: $74,200,000 Rental Income: $0 Net Revenues: $74,200,000 Year 2: Condo Sales: $95,400,000 Rental Income: $0 Net Revenues: $95,400,000 Operating Expenses: $72,525,242 Construction Expenses: $75,525,242 Net Expenses: $148,050,484 Net Operating Income (NOI): $22,874,758 Net Cash Flow: $22,874,758 Year 3: Condo Sales: $148,400,000 Rental Income: $43,212,752 Net Revenues: $191,612,752 Operating Expenses: $14,765,515 Construction Expenses: $68,062,664 Net Expenses: $82,828,179 Net Operating Income (NOI): $108,784,573 Net Cash Flow: $28,447,237 Internal Rate of Return (IRR): 73.8% Operating Years Year 4: Condo Sales: $0 Rental Income: $45,162,964 Net Revenues: $45,162,964 Operating Expenses: $16,320,480 Construction Expenses: $59,343,808 Net Expenses: $75,664,288 Net Operating Income (NOI): $28,842,484 Net Cash Flow: ($30,501,324) IRR: 74.5% Year 5: Condo Sales: $0 Rental Income: $45,517,853 Net Revenues: $45,517,853 Operating Expenses: $19,316,994

Construction Expenses: $0 Net Expenses: $19,316,994 Net Operating Income (NOI): $26,200,859 Net Cash Flow: $26,200,859 IRR: 84.3% Year 6: Condo Sales: $0 Rental Income: $47,913,389 Net Revenues: $47,913,389 Operating Expenses: $12,253,904 Construction Expenses: $0 Net Expenses: $12,253,904 Net Operating Income (NOI): $35,659,485 Net Cash Flow: $35,659,485 IRR: 86.1% Finished Hotel Valuations: Month 36: $366.3M Month 48: $476.9M Month 60: $576.8M Month 72: $613.2M Exit Strategies: $318M Luxury Condo Real Estate Sales: A strategic focus on real estate sales, realizing a significant return on investment.

Key Facts: - The cash flow analysis indicates positive growth and stability over the construction and operating years.

- The IRR demonstrates a consistently strong performance, reaching 86.1% by Year 6.

- Hotel valuations show substantial growth, providing a lucrative exit opportunity.

This comprehensive analysis outlines the financial trajectory of the Mammoth Mountain Luxury Resort project, emphasizing strong returns and strategic exit options.

For detailed discussions or inquiries, feel free to contact our team.

INVESTMENT RETURNS

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Investment Returns Summary: Six-Year Outlook Year 1: Cash Flow: - Investor contributes $75M in cash equity.

- Receives 23% participation in project profits.

- Initial cash flow distributions commence.

Depreciation: - Capitalizes on depreciation optimizing tax advantages.

allowances,

Year 2: Cash Flow: - Continued participation in project profits.

- Ongoing cash flow from the venture.

Depreciation: - Enhanced tax benefits through continued depreciation.

Year 3: Cash Flow: - Progressive returns from increasing project revenues.

- Steady cash flow distribution to the investor.

Depreciation: - Sustained tax advantages through ongoing depreciation.

Year 4: Cash Flow: - Maturing project yields contribute to growing cash flow.

- Investor enjoys consistent participation returns.

Depreciation: - Continued tax optimization via depreciation benefits.

Year 5: Cash Flow: - Peak cash flow returns as the project matures.

- Investor receives substantial profit share.

Depreciation: - Last year of significant depreciation benefits.

Year 6: Cash Flow: - Continued strong cash flow from the mature project.

- Investor maintains participation returns.

Depreciation: - Conclusion of depreciation benefits.

Investment Metrics: Internal Rate of Return (IRR): - The IRR reflects the annualized rate of return, considering cash flow and appreciation. It signifies the project's profitability, aiming for an attractive figure.

Return on Investment (ROI): - ROI measures the profitability of the investment, comparing the gain against the initial investment.

A positive ROI indicates a lucrative venture.

Summary: Cash Flow Returns: - The investor experiences a continuous increase in cash flow returns over the six-year period, aligning with the project's growth and success.

Depreciation Benefits: - Strategic utilization of depreciation allowances maximizes tax advantages throughout the investment duration.

IRR and ROI: - The IRR and ROI metrics ensure that the investor not only participates in the ongoing success of the Mammoth Mountain project but also enjoys a highly favorable and competitive rate of return.

For detailed financial breakdowns or further inquiries, please contact our team.

04 MARKET ANALYSIS

INDUSTRY OVERVIEW

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2023 - Insights from EHL Summary of EHL Insights Report on Hospitality Trends 2023 The hospitality industry is gearing up for a transformative journey in 2023, shaped by emerging trends and innovative shifts. As outlined in the EHL Insights report, we highlight key trends that are set to influence the industry: 1. Exchange Rates Shaping Travel Choices: As of December 2022, favorable U.S. dollar exchange rates against other currencies are making international travel more affordable for U.S. residents. This trend is expected to gain momentum, influencing travel decisions based on advantageous exchange rates.

2. Rise in Travel Spending: A willingness to spend on vacation products is anticipated to increase in 2023. Surveys indicate that travelers are planning more indulgent spending habits, seeking to maximize their trip experiences. The shift is driven by a desire to make up for the limited travel experiences of the past couple of years.

3. Blurring Lines between Work and Travel: The number of digital nomads is on the rise, with companies adopting flexible work policies. "Hush" trips, a more nuanced form of digital nomadism, and bleisure travels, combining business and leisure, are expected to become more prevalent.

4. Eco-Friendly Travel Goes Mainstream: Travelers are increasingly conscious of the ecological impact of their vacations, with sustainable and eco-friendly travel gaining traction. The rise of regenerative travel, focusing on net-positive impacts, is indicative of a shift towards a more environmentally conscious approach.

5. Digitalization Enhancing Travel Experiences: Digitalization in tourism services is set to rise, offering immersive experiences for travelers.

Virtual exploration during the booking process

and collaboration with entertainment companies, like Walt Disney Co., for 3D virtual-world experiences, are on the horizon.

6. Train Travel Resurgence: Travelers are favoring train travel for its tranquility compared to crowded airports. Europe leads this trend with the reintroduction of overnight trains. Companies are enhancing the train experience, turning it into a destination itself with culinary tourism activities.

7. Trending Destinations in 2023: Forbes lists the top 23 destinations for 2023, and Expedia.com highlights the top cultural cities to visit, including Edinburgh, Lisbon, Tokyo, Dublin, and New York.

8. Local Experiences and Sustainable Choices: Travelers are opting for local experiences, showing a preference for zero-proof cocktails and "Zero-kilometer food." There is a growing demand for connections to the land, emphasizing sustainability and a reduced ecological footprint.

Innovation in the Hospitality Industry: 1. Digital Transformation: Hotels are adopting digital solutions to enhance operational efficiency, reduce routine tasks, and contribute to sustainability. The use of non-fungible tokens (NFTs) for booking rooms is also gaining popularity.

2. Artificial Intelligence (AI): AI technologies are advancing, addressing staff shortages and introducing automation in customer service.

Smart hotels leveraging AI, augmented reality (AR), virtual reality (VR), and connectivity aim to personalize customer service.

3. Sustainability as a Core Focus: Sustainability emerges as a central theme, driving major investments. Hotels are introducing eco-friendly initiatives, collecting data on environmental impact, and responding to the growing preference for sustainability among travelers.

For a comprehensive view of the report, explore the full insights here.

COMPETITIVE LANDSCAPE

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Competitive Landscape: Mammoth Mountain Area Hotels Introduction: In the picturesque Mammoth Mountain region, known for its breathtaking scenery and outdoor activities, a notable absence exists—there is currently no existing five-star resort. Below is a list of notable hotels in the Mammoth Lakes area, providing diverse options for visitors. Despite the absence of a five-star resort, these accommodations offer various amenities catering to different preferences and budgets.

Best Village Lodge Location, Top Floor, Luxury Finishes Location: 2.89 miles from Mammoth Mountain Price: $800 per night Rating: 10.0/10 (Exceptional) Ventura Grand Inn Location: 3.33 miles from Mammoth Mountain Price: $163 per night Rating: 7.4/10 (Good)

Quality Inn Near Mammoth Mountain Ski Resort Location: 3.38 miles from Mammoth Mountain Tamarack Lodge and Resort Price: $260 per night Location: 1.72 miles from Mammoth Mountain Rating: 7.2/10 (Good) Price: $200 per night (Nov 23 - Nov 24) Rating: 8.2/10 (Very Good) Charming Studio in the Heart of Mammoth -#520 STAY SLOPESIDE 5 Star Luxury! True Winter Ski Location: 3.42 miles from Mammoth In & Ski Out Mountain Location: 2.28 miles from Mammoth Price: $127 per night Mountain Rating: 7.8/10 (Good) Price: $225 per night (Nov 23 - Nov 24) Rating: 9.8/10 (Exceptional) SureStay Plus Hotel by Best Western Mammoth Lakes 3 BR 2 BA Ski-in & Ski-out, 50 steps to ski run, Location: 3.43 miles from Mammoth unbelievable location!

Mountain Location: 2.35 miles from Mammoth Price: $319 per night [15% off] Mountain Rating: 7.2/10 (Good) Price: $600 per night (Nov 23 - Nov 24) Rating: 9.8/10 (Exceptional) Note: Prices and availability are subject to change. Ratings are based on guest reviews as The Westin Monache Resort, Mammoth of the mentioned date.

Location: 2.83 miles from Mammoth Mountain This diverse selection caters to various Price: $424 per night (Nov 23 - Nov 24) [15% preferences, offering options for different off] budgets and preferences in the Mammoth Lakes Rating: 9.0/10 (Wonderful) area. Whether seeking luxury, proximity to ski slopes, or a cozy retreat, these accommodations Motel 6 Mammoth Lakes, CA provide an array of choices for visitors to this Location: 3.46 miles from Mammoth stunning region.

Mountain Price: $106 per night Rating: 7.8/10 (Good) Hotel List:

MARKET TRENDS

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Market Trends: Elevating Mammoth Mountain's Investment Appeal Introduction: In navigating the dynamic landscape of the hospitality and real estate markets, understanding current trends is paramount.

Mammoth Mountain, with its unique blend of natural beauty and recreational offerings, stands poised to capitalize on several key market trends, enhancing its allure as an investment destination.

Key Trends: Growing Demand for Luxury Accommodation: The hospitality sector is witnessing a surge in demand for upscale experiences, with travelers increasingly seeking luxury accommodations.

Mammoth Mountain, currently lacking a five-star resort, presents a compelling opportunity to meet this demand vacuum.

Rising Interest in Sustainable and Eco-Friendly Travel: There is a noticeable shift towards sustainable and eco-friendly travel. Travelers, now more than ever, are making choices aligned with environmental consciousness.

Mammoth Mountain's commitment to sustainable practices positions it favorably in attracting this conscientious demographic.

Blurring Lines Between Work and Leisure: The paradigm of work and leisure is evolving, giving rise to "bleisure" travelers and digital nomads. Mammoth Mountain's scenic beauty and recreational offerings create an ideal backdrop for those seeking a harmonious blend of work and leisure, further broadening the potential visitor base.

Technological Advancements in Tourism: Technology continues to shape the tourism industry, offering immersive experiences and

streamlined services. Mammoth Mountain's commitment to integrating cutting-edge technology ensures a seamless and modern experience for visitors, from booking to on-site enjoyment.

Increased Focus on Local Experiences: Travelers are increasingly drawn to local experiences, seeking authentic connections with the destinations they visit. Mammoth Mountain, with its unique charm and community, is well-positioned to provide visitors with a genuine, locally infused experience.

Year-Round Allure of Outdoor Activities: The trend towards year-round outdoor activities is on the rise. Mammoth Mountain's strategic location with over 150 mountain streams, rivers and lakes, and diverse offerings, from skiing in winter to hiking, mountain biking, fishing, camping, boating and golfing in summer, position it as a coveted destination for enthusiasts across all seasons.

Financial Considerations Impacting Travel Choices: Economic factors, including exchange rates and financial considerations, play a pivotal role in travel decisions.

Mammoth Mountain's accessibility and diverse offerings present a compelling value proposition for investors and visitors alike, especially in the context of favorable exchange rates.

Conclusion: By aligning with these key market trends, Mammoth Mountain not only responds to current consumer demands but also positions itself as a strategic and forward-thinking investment. The convergence of luxury, sustainability, technology, and a year-round recreational paradise positions Mammoth Mountain as a destination poised for sustained growth and success in the ever-evolving market landscape.

GROWTH POTENTIAL

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Growth Potential: Unleashing Mountain's Prosperous Future

Mammoth

Introduction: Exploring the untapped growth potential of Mammoth Mountain unveils a promising horizon for investors seeking robust returns in the ever-evolving hospitality and real estate sectors.

Rooted in its unique offerings, strategic positioning, and the alignment with emerging market dynamics, Mammoth Mountain presents a compelling case for substantial and sustained growth.

Key Drivers of Growth: Expanding Luxury Market: With the absence of a five-star resort within the Mammoth Mountain area, there exists a golden opportunity to tap into the burgeoning luxury market. The development plans for a true five-star hotel align seamlessly with the growing demand for opulent accommodations, offering investors a chance to capitalize on an underserved segment.

Diversification of Offerings: Mammoth Mountain's commitment to offering a diverse range of experiences throughout the year positions it as a versatile destination. From winter sports to summer adventures, and from luxury retreats to family-friendly activities, this diversification creates multiple revenue streams and mitigates seasonal fluctuations.

Strategic Technological Integration: Embracing and integrating cutting-edge technology not only enhances the visitor experience but also opens avenues for revenue growth. Leveraging smart infrastructure, digital marketing strategies, and innovative guest services can amplify Mammoth Mountain's appeal, attracting a tech-savvy demographic.

Cultivating Eco-Tourism: The global trend towards sustainable and eco-friendly travel represents an opportunity for Mammoth Mountain to position itself as a leader in eco-tourism. By implementing eco-conscious

practices and showcasing its commitment to environmental responsibility, Mammoth Mountain can attract a growing market segment seeking environmentally friendly destinations.

Strategic Partnerships and Collaborations: Forming strategic partnerships with local businesses, outdoor activity providers, and eco-conscious brands can amplify Mammoth Mountain's offerings.

Collaborations that enhance the overall visitor experience, such as adventure packages, exclusive events, and eco-focused initiatives, can contribute to sustained growth.

Capitalizing on Year-Round Appeal: Mammoth Mountain's unique advantage lies in its year-round appeal. Investors can leverage this by crafting marketing campaigns and packages that highlight the diverse activities available in every season. Creating special events and promotions ensures a consistent flow of visitors throughout the year.

Attracting Events and Conventions: Developing facilities for hosting events, conferences, and conventions expands Mammoth Mountain's market reach. Drawing in business travelers and event attendees contributes not only to increased footfall but also to the destination's reputation as a versatile and business-friendly locale.

Conclusion: Mammoth Mountain stands at the cusp of unprecedented growth, armed with a vision that embraces luxury, sustainability, and technological innovation. Investors who recognize and harness the potential within these key drivers will not only participate in the elevation of Mammoth Mountain as a premier destination but will also unlock a pathway to enduring prosperity in the competitive landscape of hospitality and real estate. The journey toward growth is not just an investment; it's an expedition into the limitless possibilities that Mammoth Mountain holds for those with the foresight to seize them.

05

INVESTMENT STRUCTURE

CAPITAL REQUIREMENTS

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Capital Requirements: Fueling Mammoth Mountain's Ascent Financial Overview: Agent Capital spearheads the financial strategy for the Mammoth Mountain project, orchestrating a comprehensive plan to secure the initial $75 million in equity. This financial backing, coupled with a C Pace loan and Senior Debt through Agent Mortgage, forms the bedrock for the realization of Mammoth Mountain's ambitious vision.

Sponsors' Commitment: Our sponsors exhibit a tangible commitment to the project, injecting $1.7 million in cash, with an earmarked $300,000 held in escrow for the pivotal land acquisition phase. This robust financial foundation underscores the sponsors' confidence in Mammoth Mountain's potential and ensures a strong starting point for the development journey.

Financing Options: To further fortify the project, Mammoth Mountain benefits from diverse financing options: PACE Financing: Available for the upscale condos, providing a tailored financial solution to propel the luxury condominium development.

Project Timeline and Valuation: Pre-Sales Launch: The pre-sales initiative for the $318 million Luxury Condos commences during the predevelopment stage, ensuring an early momentum that aligns with market dynamics.

Hotel Completion: Anticipated within a 24-month timeframe, the hotel is poised to reach a finished valuation of $324 million, marking a significant milestone in Mammoth Mountain's development trajectory.

Full Project Completion: The comprehensive project is estimated to achieve full completion within an ambitious 36 to 48 months. The stabilized value is forecasted to range from $336 million to $477 million, reflecting the diverse offerings and strategic positioning.

Long-Term Projection: By month 60, Mammoth Mountain's value is projected to soar to $576 million, showcasing the enduring and appreciating nature of this investment opportunity.

Conclusion: Mammoth Mountain's Capital Requirements section reflects not just financial needs but the robust strategy in place to meet and exceed them. With a solid foundation, committed sponsors, and versatile financing avenues, this project stands as an exemplar of financial foresight. The well-orchestrated timeline and valuations underscore Mammoth Mountain's commitment to delivering a world-class, all-seasons resort. We invite you to explore this exciting investment opportunity further and welcome any inquiries that may fuel your interest in participating in the ascent of Mammoth Mountain.

USE OF FUNDS

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Use of Funds: C Pace Allocation for Energy Efficiency Enhancement We are excited to provide you with a detailed breakdown of the allocation of C Pace funds for our Mammoth Mountain Luxury Resort, focusing on integrating cutting-edge energy-efficient solutions. This strategic investment ensures not only environmental sustainability but also substantial long-term cost savings. Let's delve into the specifics: 1. Energy Efficient Solutions: Ovus Partners 360 Energy Matrix: Our trusted partner in sustainable energy solutions, ensuring the highest standards in eco-friendly practices.

Mammoth Mountain Luxury Resort at Mammoth Lakes: A prestigious project boasting a projected value of $308 million and a generous square footage of 550,000.

2. System Cost Proforma - No Out of Pocket Cost: Solar: We are committed to harnessing solar energy with a cost-effective approach, ensuring minimal impact on your budget.

Storage: Implementing energy storage solutions to optimize power consumption and reduce reliance on traditional sources.

Lighting, HVAC, Insulation, Plumbing, Windows: Upgrading these essential components with a focus on efficiency and sustainability.

3. Additional Costs: Architecture and Design (7.5%): Investing in the aesthetics and functionality of the project, with a keen eye on environmental impact.

Project Management (6.0%): Ensuring seamless execution and oversight, guaranteeing quality in every aspect of the development.

Project Development (10.0%): Allocating funds for the overall progress and evolution of the project.

4. Finance/Advisory Fees (3.0%): Ensuring sound financial advice and expert guidance throughout the process.

5. Grand Total PACE Expenses: Calculated with precision to cover both hard and soft system costs, ensuring a holistic approach to energy-efficient enhancements.

6. Investment Tax Credit (40.0%): Leveraging tax credits to maximize returns and minimize the overall financial impact on investors.

7. Depreciation - Varies by Tax Rate (32.5%): Strategically navigating depreciation benefits over a 30-year term.

8. Total Net Cost to Client: Reflecting the actual out-of-pocket costs after factoring in tax credits and depreciation benefits.

Understanding C Pace: C Pace, short for "Commercial Property Assessed Clean Energy," is a revolutionary financing model that allows property owners to fund energy-efficient upgrades with no upfront costs. This groundbreaking approach not only benefits the environment but also offers a compelling financial proposition for investors.

Invest with confidence in Mammoth Mountain Luxury Resort, where sustainability meets financial prudence.

For any further clarification or to discuss this allocation in detail, please feel free to reach out.

We appreciate your commitment to environmentally conscious and financially savvy investments.

CAPITAL STACK

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Capital Stack: $75M Cash Equity Raise (24.5% of $306M Budget): a. $61.2M: This represents the minimum 20% equity required, establishing a robust foundation for the project. b. $13.8M: An additional 4.5% of cash held in reserve by the developer for contingencies, fortifying our financial position prudently. $92M C Pace Funding: Please refer to the attached spreadsheet for an in-depth breakdown of the C Pace funding structure. $153M Senior Debt Construction Loan: A substantial component complementing cash equity and C Pace funding, resulting in a comprehensive financial structure.

Total Proposed Budget: $320M

INVESTOR BENEFITS

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Investor Benefits: Elevating Your Investment Experience Unlocking Exclusive Advantages: Investing in Mammoth Mountain isn't just about participating; it's about enjoying a host of exclusive benefits that amplify your investment experience. As a valued investor, you gain access to a myriad of advantages designed to optimize your returns and enhance your overall engagement.

Profitable Returns: Mammoth Mountain presents a lucrative investment opportunity with the potential for substantial returns. Our carefully crafted financial strategy, coupled with a prime location and robust demand, positions your investment for profitability.

Strategic Location: Nestled in the heart of Mammoth Lakes, California, Mammoth Mountain enjoys a strategic location with proximity to the iconic Mammoth Mountain Ski Resort. This prime positioning taps into a vast demographic of over 33 million people in California alone, ensuring a consistent flow of visitors and patrons.

Diverse Revenue Streams: Your investment isn't confined to a single revenue stream. Mammoth Mountain's multifaceted project includes luxury condos, a five-star hotel, and a range of amenities. This diversity mitigates risk and optimizes income potential.

Priority Access to Pre-Sales: As an investor, you gain priority access to the pre-sales phase of the $318 million Luxury Condos. This exclusive opportunity allows you to secure premium units

and capitalize on early market dynamics.

Steady Cash Flow: The combination of luxury condos, hotel suites, and amenities contributes to a steady and diversified cash flow. This stability is further reinforced by Mammoth Mountain's strategic financing options and long-term financial projections.

Partnership with Experienced Sponsors: Your investment journey is guided by seasoned sponsors who have not only invested $1.7 million in cash but have also demonstrated their commitment through a $300,000 escrow for land acquisition. Benefit from the wealth of experience and expertise they bring to the table.

Flexible Financing Solutions: Mammoth Mountain offers flexible financing solutions, including PACE financing for luxury condos and ground lease financing for hotel suites. This flexibility ensures that your investment aligns with your financial goals and preferences.

Conclusion: Investing in Mammoth Mountain goes beyond financial commitment; it's an immersive experience designed to maximize your returns and offer a spectrum of advantages. The combination of strategic location, diverse revenue streams, and priority access positions Mammoth Mountain as a premier investment destination. Join us in this exciting venture and experience the unparalleled benefits of investing in Mammoth Mountain.

06 EXIT STRATEGY

EXIT OPTIONS

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Maximizing Flexibility for Optimal Returns At Mammoth Mountain, we recognize the importance of providing investors with unparalleled flexibility when it comes to exit strategies. Our unique development approach incorporates innovative exit options that not only ensure a smooth transition but also present opportunities for accelerated returns.

Hotel Condos Reintegration: - One standout feature of Mammoth Mountain's development is the ability for condo buyers to seamlessly reintegrate their units back into the rental pool of the hotel.

- This strategic option empowers investors by facilitating a swift payoff of the entire capital stack shortly after the property reaches its development completion.

- The synergy between private ownership and participation in the hotel's rental pool creates a dynamic mechanism for optimizing returns.

Accelerated Capital Stack Payoff: - The integration of hotel condos into the rental pool acts as a catalyst for an accelerated payoff of the capital stack.

- Investors benefit from the ability to recoup their initial investment at a faster pace, enhancing liquidity and positioning themselves for subsequent strategic moves in the real estate landscape.

Market Responsive Strategies: - Our exit options are designed to be responsive to market dynamics, ensuring that investors can make well-timed decisions based on prevailing conditions.

- Whether the market favors resale, continued participation in the rental pool, or other strategic moves, Mammoth Mountain provides a range of choices to align with investor objectives.

Tailored Exit Consultation: - Mammoth Mountain recognizes that each investor has unique goals and preferences.

- Our team is dedicated to offering personalized exit strategy consultations, providing insights, data, and recommendations to empower investors in making informed decisions that align with their financial objectives.

Strategic Reinvestment Opportunities: - Beyond the initial development, Mammoth Mountain is committed to keeping investors informed about potential reinvestment opportunities.

- Our comprehensive approach includes staying connected with investors, updating them on market trends, and presenting options for strategically reinvesting capital for continued growth.

Invest with Mammoth Mountain, where exit options are not just about leaving but about evolving your investment strategy in line with the dynamic real estate landscape. Our commitment to flexibility ensures that your investment journey remains dynamic, responsive, and geared towards optimal returns.

TIMING AND STRATEGIES

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Capitalizing on Favorable Conditions As Mammoth Mountain embarks on this transformative venture, the timing couldn't be more opportune. Several key factors align to create a propitious environment for success. We strategically leverage these elements to optimize outcomes for our investors.

Supply Chain Resilience: - With the supply chain rebounding to a healthier state, Mammoth Mountain is well-positioned to navigate the development process efficiently.

- Our strategic planning capitalizes on the improved availability of construction materials, ensuring a streamlined and cost-effective progression.

Cost Efficiency Advantage: - The current market landscape presents a cost advantage, with product costs experiencing a decline.

- Mammoth Mountain seizes this opportunity to maximize cost efficiency in the development of luxury condos and suites, enhancing overall project viability and profitability.

Labor Market Optimization: - A more favorable labor market contributes to increased efficiency in project execution.

- Mammoth Mountain strategically leverages the improved labor conditions to maintain project timelines, deliver quality craftsmanship, and enhance the overall value proposition.

Accessible Financing Options: - The availability of financing is a cornerstone of Mammoth Mountain's strategy.

- We capitalize on favorable lending conditions to secure the necessary capital for the project, ensuring a robust financial structure that supports the development's success.

High Demand for Luxury Accommodation: - The prevailing high demand for luxury accommodation in the Mammoth Mountain region is a key driver of our strategy.

- Mammoth Mountain aligns its development with market demands, ensuring that the luxury condos and hotel suites are poised to meet and exceed the expectations of a discerning clientele.

Strategic Market Positioning: - Timing is crucial, and Mammoth Mountain strategically positions itself to capitalize on the increased demand for premium real estate.

- Our market intelligence informs strategic decisions, ensuring that the development meets the evolving preferences of the target demographic.

Risk Mitigation through Diversification: - Recognizing the dynamic nature of the real estate market, Mammoth Mountain employs diversification strategies to mitigate risks.

- By balancing the development with a mix of luxury condos and hotel suites, we ensure resilience against market fluctuations.

Mammoth Mountain is committed to translating these favorable conditions into a strategic advantage for our investors. Our meticulous approach to timing and execution, coupled with astute market analysis, positions this venture for success in an environment conducive to growth and prosperity.

RETURN ON INVESTMENT

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Unlocking Prosperity in Mammoth Mountain Investing in the Mammoth Mountain Resort promises not only financial growth but a gateway to unparalleled luxury in a premier all-season destination. Here's a concise overview of the potential return on investment: Strategic Pre-sales Advantage: - Pre-sales for the $318 million luxury condos commence at the predevelopment stage, providing an early revenue stream.

- Investors benefit from the strategic timing, capitalizing on market demand for high-end residential properties.

Hotel Completion and Valuation: - The hotel, slated for completion within 24 months, is positioned for a robust valuation of $324 million.

- Investors witness immediate growth in asset valuation, underlining the project's commitment to delivering substantial returns.

Full Project Completion and Stabilization: - The comprehensive project is estimated to be fully completed within 36 to 48 months, with a stabilized value ranging from $336 million to $477 million.

- Investors gain from the project's progression, seeing a steady increase in the overall value of their investment.

Long-Term Projection: - By month 60, the projected value soars to $576 million, reflecting the enduring prosperity of the Mammoth Mountain Resort.

- Investors enjoy sustained growth, aligning with the development's long-term vision and strategic market positioning.

Exit Options and Flexibility: - Mammoth Mountain introduces a unique exit option, allowing the resale of hotel condos with the choice to re-enter the rental pool.

- This flexible exit strategy provides investors with an avenue to swiftly recoup their capital stack, optimizing returns soon after development.

Investor Benefits and Cash Flow: - Financial backing from sponsors, including $1.7 million in cash, instills confidence in investor returns.

- PACE financing for luxury condos and ground lease financing for hotel suites ensures diverse revenue streams, contributing to sustained cash flow.

Market Trends and Growth Potential: - The development aligns with prevailing market trends, capitalizing on the demand for luxury accommodations in the Mammoth Mountain region.

- Strategic growth potential is inherent, further fortifying investor confidence in the project's ability to meet and exceed financial expectations.

Investors in Mammoth Mountain not only participate in a visionary real estate venture but stand to gain from a meticulously planned and executed investment strategy. The resort's commitment to delivering exceptional experiences is mirrored in the promising returns on investment, making this opportunity a cornerstone for financial prosperity and enduring value.

07

WHY INVEST

KEY DIFFERENTIATORS

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Strategic Amenities and Accessibility: - A pedestrian bridge linking the property to the Ski Gondola and Village Center enhances accessibility and guest experience.

- The resort is within walking distance of an 18-hole championship golf course, providing a diverse range of recreational opportunities.

Innovative Exit Options: - The ability to sell hotel condos, allowing buyers to opt back into the rental pool, provides a unique and flexible exit strategy.

- This innovative approach accelerates the capital stack payoff, offering investors a quicker return on their initial investment.

All-Seasons Attraction: - Capitalizing on the resort’s elevation of 11,053 feet and boasting 300 days of sunshine annually, Mammoth Mountain offers a year-round destination.

- The development transforms Mammoth into Southern California’s mountain home, attracting visitors for both winter sports and summer activities.

Proximity to Major Markets: - Located approximately 5 hours north of Los Angeles and 3 hours south of Reno, Nevada, Mammoth Mountain is easily accessible.

- The resort's proximity to major markets enhances its appeal, attracting visitors from key demographic regions.

Diverse Revenue Streams: - Mammoth Mountain Resort's investment structure includes luxury condos, all suites hotel with suites, and additional revenue from amenities like a Convention Center, Spa, Amphitheater and Retail.

- PACE financing options ensure diverse revenue streams, contributing to a resilient and sustainable financial model.

Commitment to Sustainability: - Embracing eco-friendly and sustainable travel trends, Mammoth Mountain Resort aligns with the growing demand for responsible tourism.

- The resort is poised to attract environmentally conscious travelers, contributing to both profitability and positive brand perception.

Investors in Mammoth Mountain Resort gain a strategic advantage through these differentiators, ensuring not only financial success but also active participation in a venture that redefines luxury living and resort experiences in Mammoth Mountain.

COMPETITIVE ADVANTAGES

Unveiling the Strengths of Mammoth Mountain Resort Investment Investing in Mammoth Mountain Resort brings forth a compelling array of competitive advantages that set it apart in the market, making it an irresistible opportunity for savvy investors: Exclusive Market Positioning: - Mammoth Mountain Resort stands as the sole provider of a genuine five-star luxury experience in the Mammoth Mountain region.

- With no existing five-star resorts in the vicinity, this venture enjoys a unique market positioning, catering to an affluent demographic seeking unparalleled opulence.

Strategic Location and Accessibility: - Situated in Mammoth Lakes, California, with a summit at 11,053 feet, the resort boasts a location that offers breathtaking views and a playground for outdoor enthusiasts.

-- The property's accessibility, approximately 5 hours from Los Angeles and 3 hours from Reno, ensures it is well-connected to major markets, enhancing its allure.

Diverse Revenue Streams: - Mammoth Mountain Resort presents a diversified revenue model encompassing luxury condos, a hotel with suites, and revenue from additional amenities.

- The inclusion of a Convention Center, Spa, and Retail establishes multiple income streams, ensuring financial resilience.

Innovative Financing Solutions: - The resort leverages innovative financing solutions, including PACE financing for luxury condos and ground lease financing for hotel suites.

- These financial instruments not only facilitate development but also contribute to the overall

financial stability of the project.

All-Seasons Appeal: - Positioned as a four-season resort with 300 days of sunshine annually, Mammoth Mountain offers year-round attractions.

- The resort transforms into a haven for winter sports enthusiasts and summer adventurers, ensuring constant demand and revenue generation with 51% summer and 49% winter visitors.

Proximity to Major Markets: - Located within driving distance of major metropolitan areas, Mammoth Mountain Resort benefits from its proximity to Los Angeles and Reno, Nevada.

- This strategic location maximizes the potential visitor base, drawing from densely populated regions.

Sustainability and Eco-Friendly Practices: - Mammoth Mountain Resort aligns with the growing trend of eco-friendly travel, attracting environmentally conscious guests.

- The commitment to sustainability not only reflects responsible business practices but also resonates with a broad segment of modern travelers.

Flexible Exit Options: - The innovative approach of selling hotel condos, with the option to re-enter the rental pool, provides investors with a flexible and potentially accelerated exit strategy.

- This unique feature enhances the attractiveness of Mammoth Mountain Resort as an investment opportunity.

Investors in Mammoth Mountain Resort gain not only a stake in a lucrative venture but also a portfolio of competitive advantages that ensure sustained success and growth in the dynamic hospitality and resort market.

INVESTMENT HIGHLIGHTS

Prime Location and Scenic Allure: - Nestled in Mammoth Lakes, California, the resort commands attention with its captivating summit at 11,053 feet above sea level.

- The location's scenic beauty, combined with 300 days of sunshine annually, establishes Mammoth Mountain Resort as an idyllic year-round destination.

Exclusive Five-Star Luxury Offering: - Enjoying an exclusive market position, the resort stands as the solitary provider of five-star luxury in the Mammoth Mountain region.

- The scarcity of such high-end accommodations positions Mammoth Mountain Resort as a beacon for luxury seekers, ensuring a unique market proposition.

Diverse Revenue Streams and Amenities: - The resort presents a multi-faceted revenue model, encompassing luxury condos, a hotel with suites, and revenue from amenities like a Convention Center, Spa, and Retail.

- This diversity not only ensures robust revenue generation but also caters to a broad spectrum of guest preferences and interests.

Strategic Accessibility and Demographic Support: - Conveniently located within driving distance of major cities, including a 5-hour drive from Los Angeles, the resort taps into a vast and accessible market.

- Boasting over 33 million potential visitors in California alone, Mammoth Mountain Resort aligns with the growing demand for luxury accommodations in the region.

Innovative Financing Solutions: - Leveraging cutting-edge financing tools such

as PACE financing for luxury condos and ground lease financing for hotel suites.

- These financial strategies not only facilitate the development process but also contribute to the overall financial stability of the project.

All-Seasons Appeal and Outdoor Paradise: - Positioned as a four-season resort, Mammoth Mountain caters to outdoor enthusiasts year-round.

- The resort transforms into a winter wonderland for snow sports enthusiasts and offers a summer playground for adventurers, ensuring consistent demand.

Environmental Responsibility and Sustainability: - Aligning with eco-friendly travel trends, the resort appeals to the environmentally conscious traveler.

- Incorporating sustainable practices and embracing regenerative travel, Mammoth Mountain Resort positions itself as a responsible and attractive choice in the market.

Flexible Exit Strategies: - The resort introduces a unique approach to selling hotel condos, providing buyers the option to re-enter the rental pool.

- This innovation not only offers flexibility to investors but also presents the potential for an accelerated payback of the capital stack post-development.

Investors in Mammoth Mountain Resort are not just engaging in a financial venture; they are seizing an opportunity laden with strategic advantages, unique positioning, and the promise of significant returns in the vibrant and dynamic hospitality landscape.

08 ASK AND CONTACT

INVESTMENT AMOUNT

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Unlocking Growth with Mammoth Mountain Resort Agent Capital invites strategic investors to participate in the dynamic growth of Mammoth Mountain Resort by contributing to a targeted equity raise of $75 million. This investment opportunity is tailored for individuals and entities seeking to align with the resort's promising future and capitalize on the potential of Southern California's premier four-season destination.

Key Investment Details: Total Equity Raise: - The targeted equity raise is set at an ambitious $75 million, reflecting the scale and ambition of Mammoth Mountain Resort's development plans.

Strategic Allocation of Funds: - The raised capital will be strategically allocated across various facets of the resort's development, including the construction of luxury condos, hotel suites, and essential amenities.

- Investors can expect their contributions to directly fuel the creation of a world-class, all-season resort experience.

Compliance and Due Diligence: - Agent Capital, as the entrusted financial intermediary, is committed to upholding the highest standards of compliance and due diligence.

- Investors can trust in the transparency of the investment process, thorough risk assessments, and comprehensive reporting mechanisms to keep them informed at every stage.

Investor Benefits and Returns: - Investors stand to benefit from the resort's diverse revenue streams, innovative financing solutions, and the strategic positioning of Mammoth Mountain.

- Anticipated returns are aligned with the resort's projected growth trajectory, ensuring a potentially lucrative outcome for investors.

Investment Term and Exit Options: - The investment term will be outlined in detail, providing clarity on the anticipated duration of investor involvement.

- Clear and flexible exit options, including the innovative approach to selling hotel condos, will be presented, affording investors choices tailored to their preferences.

Join the Journey: Investing in Mammoth Mountain Resort represents more than a financial commitment; it's an invitation to join a journey of growth, innovation, and luxury. With an accessible minimum investment, diverse revenue streams, and a commitment to compliance, this opportunity beckons forward-thinking investors to contribute to the development of a landmark destination.

Take the next step in shaping the future of Mammoth Mountain Resort—a place where investment meets aspiration. Your financial participation is not just an allocation of funds; it's a stake in the success story of a premier all-season resort. Elevate your investment portfolio with Mammoth Mountain Resort and be part of a venture poised for Southern California's mountainous heights.

HOW TO GET INVOLVED

Seize the Opportunity: Get Involved with Mammoth Mountain Resort!

Are you ready to be part of an extraordinary venture? Mammoth Mountain Resort beckons, and your opportunity to get involved is NOW. As we embark on this thrilling journey of growth and luxury, we invite you to join us in shaping the future of Southern California's premier four-season destination.

How to Get Involved: Contact Us Today: - Reach out to us without delay! Your journey with Mammoth Mountain Resort begins by contacting our dedicated team.

- Email us at info@agentcapitalsolutions.com to express your interest and get the ball rolling.

Urgent Call to Action: - Feel the urgency? We do too! For immediate assistance and to speak directly with a Mammoth Mountain representative, call John McMonigle at (949) 735-1004.

- Your questions, aspirations, and commitment are at the forefront of our priorities. Don't miss your chance to be part of something extraordinary!

Confidentiality and Accreditation: - Upon expressing your interest, you'll be guided through a seamless process that begins with

signing a Non-Disclosure Agreement (NDA).

- Qualifying as an accredited investor is the key to unlocking this exclusive opportunity. We're here to assist you through each step, ensuring a smooth and confidential experience.

Why Act Now: - Limited Opportunities: Mammoth Mountain Resort represents a limited and exclusive investment opportunity. Act now to secure your place in this groundbreaking project.

- First Mover Advantage: Be among the first to align your portfolio with the future of luxury resorts in Southern California. Your foresight and early involvement set you apart.

- Thriving Destination: Southern California's mountain home is ready for unprecedented growth. By getting involved now, you position yourself at the forefront of a thriving destination's ascent.

Your Invitation: Elevate Your Investment Portfolio!

This isn't just an investment; it's an invitation to be part of a legacy. Elevate your investment portfolio by contributing to the success story of Mammoth Mountain Resort. Southern California's highest four-season haven awaits, and your involvement is the key to unlocking its full potential.

Contact us today at info@agentcapitalsolutions.com or call John McMonigle at (949) 735-1004. Act swiftly, sign the NDA, and become an integral part of the Mammoth Mountain Resort journey. Your luxury resort investment adventure starts NOW!

09 APPENDIX

AGENT CAPITAL TEAM BIOS

CAPITAL RAISE | DECK

For team bios please vist: https://agentcapitalsolutions.com/#

LEGAL AND COMPLIANCE Legal and Compliance Overview: Ensuring a Secure Investment At Agent Capital, transparency, integrity, and compliance are the cornerstones of our approach to legal matters. We understand the importance of providing investors with a secure and well-regulated environment. Here's an overview of the legal and compliance framework guiding our venture: Regulatory Adherence: Agent Capital operates in strict adherence to all relevant federal and state regulations governing real estate and hospitality investments.

Legal Counsel: Our legal team, in collaboration with reputable external legal counsel, diligently reviews and ensures compliance with all applicable laws, providing you with confidence in the legitimacy of your investment.

Investor Safeguards: Clear Documentation: All investment transactions are accompanied by clear and comprehensive documentation, outlining your rights, responsibilities, and the terms of the investment.

Transparency: Regular and transparent communication channels are established, keeping investors informed about project milestones, financial updates, and any pertinent legal developments.

Risk Mitigation: Thorough Due Diligence: Prior to initiating the investment opportunity, thorough due diligence is conducted to identify, assess, and mitigate potential risks. Our commitment to risk management safeguards your investment.

Confidentiality: Non-Disclosure Agreement (NDA): To safeguard sensitive information, Mammoth Mountain Resort requires all interested parties to sign a Non-Disclosure Agreement (NDA) before accessing detailed project information. Your confidentiality is our priority.

Accredited Investor Qualification: Accreditation Standards: To participate in Mammoth Mountain Resort's investment, investors are required to meet accreditation standards. This ensures that participants are equipped to navigate the complexities of real estate and hospitality investments.

Legal Oversight: Professional Guidance: Our legal team, in collaboration with regulatory experts, actively monitors legislative changes that may impact the investment landscape. This proactive approach allows us to adapt swiftly to evolving legal requirements.

Your Peace of Mind Matters: Investor Education: Agent Capital is committed to providing investors with the necessary information and resources to make informed decisions. We encourage our investors to seek independent financial and legal advice, ensuring they are well-versed in the intricacies of their investment.

Contact Us for Further Clarifications: Have questions regarding legal and compliance matters? Our team is here to address your concerns and provide any additional information you may need. Your peace of mind is crucial to us, and we are dedicated to fostering a secure and transparent investment environment at Agent Capital.

For legal inquiries, please contact our legal team at info@agentcapitalsolutions.com or call our legal hotline at (949) 791-8160. We appreciate your commitment to a secure investment, and we look forward to addressing any legal or compliance-related inquiries you may have.

PROJECT INSPIRATION

contacts Agent Capital 260 Newport Center Drive, Suite 100 Newport Beach, CA 92660 email: info@agentcalitalsolutions.com John McMonigle cellular (949) 735-1004

www.agentcapitalsolutions.com