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SOTOGRANDE THE MOST LUXURIOUS RESORT IN EUROPE Sotogrande was founded in 1962 in the South of Spain between Marbella and Gibraltar and in 2012 we are celebrating the 50th anniversary of the most important story of success in Europe of the biggest and finest urbanization. The American Philippine Joseph Rafael McMicking discovered the land of almost 2500 ha. Joseph main purpose was to build a residential area with all the facilities for a high quality of life, for families coming from Spain and the rest of Europe, with special effort in developing the best location for sports: Golf, Polo, Sailing, Tennis, and Beach Clubs.

The whole Sotogrande resort developed in the past 50 years has the following components: The Sotogrande Port, one of the most exclusive marines of the Costa del Sol with a capacity for 1,380 berths. The Marine residential area, with 1,500 multifamily units. Five golf courses. One of them the Valderrama Golf course which was the host of the Ryder Cup in 1997 the first time ever celebrated outside the US and UK. The others are ranked among the top European Golf courses: Real Club de Sotogrande, La Reserva Golf Course, Almenara Golf Course, and La Canada Golf Course. The academy Jason Floyd has thirty young pupils per year at the Almenara Golf Course to give them the opportunity to play in the PGA tournament in Europe. The top Polo center in Europe with nine grounds in three different areas, the last one opened very recently named Los Pinos. The tournaments and activities developed in August every year concentrate thousands of fellow followers of this special Sport. The three hotels: Almenara, Tennis, and Maritimo with a total number of rooms of around 400. The Equestrian area with a lot of activities during the whole year. Two Tennis and Padel clubs with 20 courts. Two Beach Clubs: El Cucurucho and El Octogono. Commercial areas: in the Port, The Marine, and Paniagua. Sotogrande International School.

SOTOGRANDE An example of success in the Luxury Resort Industry Sotogrande is the best example of success for the highest standard resort. During the 50 years of live we had the honor of hosting in the resort personalities such as: George Bush father, Aristoteles Onassis, Jacqueline Kennedy, Ava Gardner, the bull fighter Luis Miguel Dominguin, Prince Andrew of the UK, Bob Moore former chairman of City Bank, and part of the Spanish royal family. Sotogrande went public at the stock exchange of Madrid in 1989, and today the mayor shareholder is the hotel chain NH Hoteles, second largest operator of Spain and third in Europe. NH hotels are specialized in city and town hotels of three and four stars and it is not there core business to run Sotogrande as a resort. Therefore, it is an opportunity for a new international group coming from Russia to take advantage and develop new activities and new projects for the Russian investors to enjoy the best climate, food, sports, and entertainment at Sotogrande.

The total land area at the beginning was 2,500 ha. Today Sotogrande is developing almost 400ha. With a total value of 900 million Euros as described in the next slide. Sotogrande is currently in control of the following areas: A) On-going business: B) New developments: Two hotels: Almenara and Tennis. Land area of 200 ha. to build a maximum of 722,000 sq.m. with a potential of 2000 residential units. The value of this area today at 1000 Euros per sq.m. is 722 million Euros. Two Golf courses: La Reseva and Almenara. One beach club: El Cucurucho The Equestrian center. Special area for 300 villas at La Reserva could be the new project for the Russian community to have a second home in sunniest part of Spain with all the services required. The services could include commercial area, sport facilities, business center, financial club, and a business school. The Sotogrande Port: Residential and Commercial area at Ribera del Marlin. In this area Sotogrande has a partnership with Pontegadea, Property company of Mr. Amancio Ortega, major owner of the first Spanish company INDITEX-ZARA and the fifth richest man in the world. New hotel at La Reserva. New Golf Course at La Reserva, part of the infrastructure work has been done. New area at Paniagua for residential and commercial including a theatre, museum, and disco area.

Property Asset’s Valuation of Sotogrande S.A. Description Land (M2) Residential of new Building (M2) Commercial of new Building (M2) Total of new Building (M2) Value (€) The Marine Commercial & Residential 26.047 33.276 6.760 40.036 44.961.000 Subsectors 52-53 282.810 97.935 4.136 102.071 86.800.000 Subsector 50 1.693.816 574.875 20.437 595.312 500.799.000 Berths Situated in the Marine (340 units) 13.057 N/D 23.542.000 Beach Club Subsectors 3,4, & 5. Also residential to be built 26.535 9.495 8.547.000 Paniagua Estate Subsector 21. Residential & Commercial 20.000 3.000 23.000 18.730.000 Subsector 34B Multifamily Residential 59.902 30.550 29.880.000 Horse Riding Center Subsector 35, sport center 62.910 2.500 3.352.000 Hotel NH Almenara Subsectors 52 & 53 14.733 32.000.000 Almenara Golf Course Subsectors 52 & 53 982.834 24.000.000 Hotel NH Sotogrande 8.984 11.795.000 La Reserva Golf Course 675.722 5.500 67.065.000 Others Central offices, International School, & Commercial shops 5.887 7.630.000 Multifamily Developments 29.360.000 TOTAL 3.823.633 756.636 34.333 838.068 888.461.000

Sotogrande Port & Marine

La Reserva

Sotogrande Polo

Beach Club Cucurucho

Sotogrande International School

Almenara NH Hotel & Golf Club

Valderrama Golf Course