RXR'S QOZ OPPORTUNITIES/PIPELINE INVESTMENTS XR QO2 Opportunities' os of September 30, 2018 Anticipated Investment Units/ Development Square Feet Budget (000s) Under Development= 360 Huguenot 280 $142,000 Atlantic Station Phase II 325 159,700 The Hall 675,000 483,100 Village Square 146 90,600 751/675,000 $875,400 Pre-Development3 Church/Division Tower A 354 $199,800 Church/Division Tower 8 376 up to 247,300 730 $606,800 Under Review (Rollup? Five Residential Properties 1,648 $778,100 1,648 $778,100 Total RXR QOZ Opportunities 3,129/675,000 $2,100,600 1 There can be no assurance that these investments will be executed by the Fund as described above or at all, or that these investments will be profitable. See the Case Studies section of this presentation for additional detail on RXR's investments Under Development or in Pre-Development as defined above. 2. Owned by affiliates of RXR and development has commenced. 3. Affiliates of RXR control the development rights for these investments; however, development has not yet begun. 4. RXR currently has five New York Metropolitan area QOZ investment opportunities in the underwriting stage. RXR and affiliates do not control these assets at this time. g illotaric •-• '4" THE HALL, LYN, NY (R) Ra 4 VILLAGE SQUARE GLEN COVE. NY (R) Map is an illustration: (R) Signifies renderings. RXR 20 of 75 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0069419 SDNY_GM_002 15603 EFTA01374631