DEVELOPMENT AND INVESTMENT OVERVIEW

DEVELOPMENT AND INVESTMENT OVERVIEW

Company Overview $4.1B projects in the pipeline $7.7B projects in the process * * CAPABILITIES The firm focuses its attention on the areas where we believe we can make the greatest impact: helping mitigate the impact of the built environment on climate change; using our talent, energy and resources to improve the quality of our communities and the lives of others; and helping our people to reach their full potential while providing a safe and ethical workplace. For occupiers, Trammell Crow serves as a trusted advisor at every step of the process, from apprising clients on alternative land or building options through the development or acquisition of facilities. With its national scope and comprehensive range of product types, TCC offers investors geographic diversity, capital efficiency and the opportunity to be active in more parts of the real estate cycle. *AS OF 1Q18 COMPANY OVERVIEW Trammell Crow Company, founded in Dallas, Texas in 1948, is one of the nation s oldest and most prolific developers of and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. The Company s mission is to: deliver superior outcomes for occupiers, residents and the communities in which we build, deliver market-leading financial returns to our investment partners, as well as attract and retain top talent by upholding an entrepreneurial and rewarding work environment. I can stumble or stride...both are up to me. I can succeed or fail it s all up to me. I can prosper or lose it s all up to me. IT S ALL UP TO YOU. Trammell Crow OFFICE LOCATIONS OFFICE INDUSTRIAL RESIDENTIAL HEALTHCARE RETAIL ATLANTA AUSTIN CHICAGO DALLAS DENVER HOUSTON LOS ANGELES NEWPORT BEACH PHILADELPHIA PHOENIX PITTSBURGH PORTLAND SAN FRANCISCO SEATTLE ST. LOUIS WASHINGTON DC

Company Overview CAPITAL MARKETS STREAMLINED PROCESS Trammell Crow Company s centralized Capital Markets Group (CMG) connects external investment goals to internal resources and pipeline. The CMG provides access to national volume to meet the needs of our clients, driving efficiency and profitability for both parties. TCC has a deep roster of strategic capital partners including institutional equity capital partners consisting of life insurance companies, REITs, private real estate equity funds, and investment advisors representing comingled funds and separate accounts. In addition, TCC has strong lending relationships with many leading debt sources including multi-national, national, regional and local commercial banks, life insurance companies, and investment banks. The surety of execution our capital partners deliver is a top priority for TCC and a competitive advantage for the developments we pursue. LOCAL BUSINESS UNITS 16 STRATEGICALLY PLACED OFFICE LOCATIONS ACROSS THE U.S. CAPITAL MARKETS GROUP INTERNAL ADVISORY GROUP CONNECTING INVESTORS TO OPPORTUNITIES INVESTMENT COMMITTEE EXPERIENCED EXECUTIVES IN PLACE TO MITIGATE RISKS WE DELIVER VALUE BY: c A PROVEN ABILITY TO CREATE OUTSTANDING RISK MITIGATED OPPORTUNITIES c EXPERIENCED LEADERS DEEPLY ENTRENCHED IN LOCAL MARKETS c TARGETED INVESTMENT STRATEGIES IN A DIVERSE RANGE OF PRODUCT TYPES c ENTREPRENEURIAL APPROACH TO OPPORTUNITIES c SECURE CREDIT AND STRONG BALANCE SHEET SUPPORTED BY CBRE GROUP 2013 2014 2015 2016 2017 1Q18 HISTORIC PIPELINE AND IN PROCESS FIGURES (USD, B) $0B $2B $4B $6B $8B $10B $12B IN PROCESS PIPELINE * Data as of 1Q18

Company Overview CORPORATE RESPONSIBILITY Corporate Responsibility is at the heart of Trammell Crow Company s business practices. We strive to be recognized as much for its commitment to responsible business as for the quality of its commercial real estate services. We are committed to integrating responsible and sustainable business practices across our operations. The Corporate Responsibility program encompasses: c ENVIRONMENTAL SUSTAINABILITY c ETHICS AND COMPLIANCE c HEALTH, SAFETY & WELLNESS c PEOPLE AND CULTURE c COMMUNITIES AND GIVING Our policy is to do the right thing and to act responsibly in our day-to-day relationships with customers, suppliers, employees, communities and all stakeholders. The firm focuses its attention on the areas where we believe we can make the greatest impact: helping mitigate the impact of the built environment on climate change; using our talent, energy and resources to improve the quality of our communities and the lives of others; and helping our people to reach their full potential while providing a safe and ethical workplace. Trammell Crow Company s responsible business practices are an essential element of the brand and fundamental to our RISE values of Respect, Integrity, Service and Excellence. As the firm consistently evaluates its progress, the corporate responsibility strategy is backed by tangible commitments and performance is evaluated annually and assessed against external reporting standards.

Company Overview AWARDS & RECOGNITION We are honored to have our work recognized by the leading real estate industry organization. We would not be here without our development leadership executives, who are carrying on Mr. Crow s legacy by developing the best product on the best sites in the best markets. Matt Khourie Chief Executive Officer, TCC #1 DEVELOPMENT FIRM 2014, 2015, 2016, 2017 2016 INDUSTRIAL PROJECT OF THE YEAR, CROSSROADS COMMERCE PARK DENVER #1 TOP DEVELOPMENT FIRM 2015, 2016, 2017 2016 LEGACY AWARD MARKET SQUARE WASHINGTON, DC BEST INDUSTRIAL PROJECT DFW 2016 INDUSTRIAL PROJECT OF THE YEAR MIDPOINT @ 237 2016 BEST MEDICAL PROJECT K2M HEADQUARTERS AWARD OF EXCELLENCE THE ISLAND RESIDENCES AT CARLSON CENTER 2016 BEST MIXED-USE PROJECT PARK DISTRICT

OFFICE EXPERTISE 2 3 1 4 6 5 1 929 Office Tower Bellevue, WA 2 500 W. 2nd Street Austin, TX 3 Energy Center Three, Four & Five Houston, TX 4 The Boardwalk Irvine, CA 5 Innovation Village Pomona, CA 6 Davita World Headquarters Denver, CO

INDUSTRIAL EXPERTISE 1 2 4 3 6 5 1 Knox Logistics Center Riverside County, CA 2 Cleantech Manufacturing Center Los Angeles, CA 3 Carson Industrial Center North Carson, CA 4 Coldwater Depot Logistics Center, Phase 3 Avondale, AZ 5 BW Gateway Harmans, MD 6 I-215 Logistics Center-Amazon Moreno Valley, CA

RESIDENTIAL EXPERTISE 1 2 3 4 5 6 1 The Foundry Minneapolis, MN 2 The Dalton Alexandria, VA 3 LA Plaza Los Angeles, CA 4 Knox Heights Dallas, TX 5 NorthShore Austin, TX 6 M-Line Tower Dallas, TX

HEALTHCARE EXPERTISE 1 2 3 4 5 6 1 First Hill Medical Pavilion Seattle, WA 2 Cleveland Clinic Cleveland, OH 3 The Heart Hospital Baylor Plano Plano, TX 4 Keck School of Medicine of USC Soto Building Los Angeles, CA 5 Medical Arts Pavilion at University Medical Center of Princeton Plainsboro, NJ 6 Christus Santa Rosa San Antonio, TX

RETAIL EXPERTISE 1 2 3 4 5 6 1 The Shops at Dakota Crossing Washington, DC 2 West Lake Crossing Humble (Houston), TX 3 Greenway Commons Houston, TX 4 Lake Highlands Town Center Dallas, TX 5 Cascade Station Portland, OR 6 Bakersfield Commons Bakersfield, CA

TRAMMELLCROW.COM Corporate Office: 2100 McKinney Avenue, Suite 800, Dallas, Texas 75201 Phone: 214.863.4101 Fax: 214.863.4493