Fact Sheet RESORT OVERVIEW

Centrally located within Big Sky’s 3,530-acre Spanish Peaks enclave, Montage Big Sky will feature a mountain modern design with aesthetics inspired by the natural setting and a timeless palette of materials including regional woods and stones. The resort will feature 150 guestrooms and suites and 39 Montage Residences. Resort amenities include a locally inspired restaurant, lobby bar and lounge, market, outdoor grill, gastro pub and recreation room with bowling alley, indoor lap pool, family swimming pool, fitness center, signature Spa Montage, ski lockers and skier services and 12,870 square feet of some of the finest meeting and event space in the greater Rocky Mountain region. The resort will also include Montage’s signature, immersive children’s program, Paintbox.

Notably, Montage Big Sky will have unparalleled proximity to outdoor amenities offering ski-in/ski-out access to Big Sky Resort’s 5,800 skiable acres (the second-largest ski resort in the U.S.) and access to the 18-hole Tom Weiskopf-designed golf course, which is located just steps from the resort. Hiking, mountain biking, Nordic skiing and snowshoeing trails abound, with three world-renowned fly-fishing rivers passing through the Big Sky region. The accommodations of Montage Big Sky will create a mountain paradise for luxury adventurers and outdoor enthusiasts visiting Montana and Yellowstone National Park.

FEATURES AT-A-GLANCE • Located just 45 minutes from Yellowstone National Park • Indoor and outdoor pools • Centrally located within the Spanish Peaks Mountain Club • Access to Tom Weiskopf-designed golf course • 150 expansive guestrooms and suites • Paintbox, Montage’s immersive children’s program • 39 private Montage Residences • Resort programming includes fishing, hiking, • Multiple dining options mountain biking and snowshoeing • More than 12,000 square feet of meeting and event space • Direct ski access to 5,800 acres of terrain at Big Sky Resort • Signature Spa Montage and fitness center • Managed by Montage Hotels & Resorts Canada

THE DESTINATION

BIG SKY, MONTANA • An approximate one-hour drive from Bozeman Yellowstone International Airport (with direct flights from 16 cities and

90 two private FBO operations) • Home to 5,800 acres of world-class skiing at Big Sky Resort HELENA 94 Montana • 18 miles from Yellowstone National Park, which contains the

Bozeman Yellowstone world’s largest concentration of geysers, other thermal features International Airport 72.42 KM / 45 MILES FROM MONTAGE BIG SKY and wildlife BOZEMAN 90 • World-class fly-fishing rivers, 18-hole golf courses, miles of 15 MONTAGE BILLINGS Big Sky hiking, Nordic skiing, equestrian, mountain biking trails, BIG SKY Idaho 90 rock climbing, dog sledding and rafting YELLOWSTONE NATIONAL Wyoming PARK

SPANISH PEAKS MOUNTAIN CLUB Spanish Peaks Mountain Club in Big Sky, Montana, is a top-tier mountain community with a private 18-hole golf course designed by Tom Weiskopf, a 32,000-square-foot members’ clubhouse, on-property fly-fishing facilities at “Fish Camp,” lift-served access to skiing at Big Sky Resort, a full winter/summer calendar of member programming, three private dining outlets and other services and amenities. Spanish Peaks Mountain Club membership is available to residents of the Spanish Peaks community (including residents of Montage Big Sky). RESORT DETAILS

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D OA R PUBLIC SPACESRK O F H T U O • Five dining outlets:S • Wedding and event lawn • Retail outlets and skier services - Locally inspired restaurant • Signature Spa Montage • Paintbox, Montage’s immersive - Café • Fitness center and indoor pool children’s program - Bar and lounge • Outdoor family pool and hot tubs • Indoor parking - Gastro pub • Four bowling lanes - Poolside bar and outdoor grill • Game room with arcade MONTAGE RESIDENCES

RESIDENCE TYPE # OF RESIDENCES AVG SQ FT

Two-bedroom Floorplan 2 2,384

Three-bedroom Floorplan 10 2,737

Four-bedroom Floorplan 17 3,463

Five-bedroom Floorplan 8 4,517

Six-bedroom Floorplan 2 7,529

Total/Average 39 3,646

MONTAGE RESIDENTIAL OWNERSHIP BENEFITS • Personalized services provided by a dedicated residential staff • 24-hour in-residence dining, housekeeping, maintenance, security and concierge services • Access to all amenities and services of Montage Big Sky, such as Spa Montage, fitness center, ski valet and dining venues • An array of services provided from pre-arrival provisioning and property management to asset preservation programming • Signing privileges and direct billing to house account • Special discounts at Montage Big Sky for spa services, retail purchases and dining venues • Optional participation in the Montage Rental Management Program

HOTEL MANAGEMENT SPANISH PEAKS MOUNTAIN The resort and residences will be managed by Montage CLUB MEMBERSHIP Hotels & Resorts. Montage International manages the Membership is available to residents of the Spanish Peaks Spanish Peaks Mountain Club. community (including residents of Montage Big Sky). There are two categories of resident memberships: Golf/Ski Members enjoy SPONSORSHIP all of the club’s amenities, while Social/Ski Members enjoy the The principal sponsor of Montage Big Sky is CrossHarbor club’s offerings with limited golf privileges. The Spanish Peaks Capital Partners, a Boston-based private equity firm. The project Mountain Club members will benefit from the following features is being developed by Lone Mountain Land Company (LMLC), of Montage Big Sky, among others: a Montana-based real estate development company, in • Access to various amenities and services of Montage Big Sky, partnership with Suffolk Construction of Boston. such as Spa Montage, ski valet and dining venues DESIGN TEAM • Expanded on-property retail and skier services Hart Howerton architects designed Montage Big Sky in • Club charging privileges at all hotel outlets collaboration with Brayton Hughes (interiors) and EDG • Future, additional club programming and amenities (food and beverage concepts). • Expanded snowmaking associated with the hotel project

will improve ski access to the clubhouse SCHEDULE The project is scheduled to open during the second half of 2021. Residences will be available for pre-sales starting in winter 2018-19. ABOUT MONTAGE HOTELS & RESORTS

Founded in 2002 by hospitality industry veteran Alan J. Fuerstman, Montage Hotels & Resorts is an artful collection of distinctive hotels, resorts and residences in stunning settings that offer personalized hospitality, exceptional epicurean experiences, transcendent spas and an elegant yet welcoming ambiance. With the goal of creating lasting and cherished memories, Montage is devoted to delivering an enriching guest experience. From a legendary bay in Los Cabos to the charm of the South Carolina coast, every Montage escape is a departure from the expected. At every destination, Montage welcomes guests to an intimate retreat that captures the genuine spirit of its locale.

*Future Destinations

Settlement Trail, Big Sky, MT 59716 MONTAGEHOTELS.COM

The resort project described herein (the “Resort”) and the residential units located within the Resort (the “Residential Units”) are not owned, developed, or sold by Montage Hotels & Resorts LLC or its affiliates or their respective licensors (collectively, “Montage”) and Montage does not make any representations, warranties or guaranties whatsoever with respect to the Residential Units, the Resort or any part thereof. CH SP ACQUISITION LLC, a Delaware limited liability company uses the MONTAGE brand name and certain MONTAGE trademarks (collectively, the “Operator Trademarks”) in connection with the sales and marketing of the Residential Units in the Resort under a limited, non-exclusive, non-transferable and non-sublicensable license from Montage Hotels & Resorts LLC. The foregoing license may be terminated or may expire without renewal, in which case neither the Residential Units nor any part of the Resort will be identified as a Montage branded project or have any rights to use the Operator Trademarks.