ASHLAND CONSTRUCTION COMPANY is a leading general contractor providing comprehensive construction related services, with a depth of experience in projects and design-build project delivery. Particular emphasis is placed on long-term relationships with our employees, clients, and vendors.

3 ASHLAND CONSTRUCTION COMPANY INTRODUCTION ashlandconstruction.com 919-872-7913 919-872-7500 Raleigh, Carolina North 27604 4601 Atlantic Avenue Office Principal Raleigh, Carolina North Lilley, Lund Norton Collar PLLC Public Accountants Certified Company MutualInsurance Liberty Bonding Kirkpatrick,Brian Jeffrey D. Havener, K.Bradley Goodman, Rhett A. Moody, C. KeithDavis, M.Owen Cavanaugh, K. DaleAngell, John K. Schaeffer, Thomas C. Church, Jr., John T.Church, A.Robert Boyette, Officers , ofColumbia andDistrict Delaware, Carolina, South , Pennsylvania, West , Carolina, ofNorth inStates Unlimited Category Virginia, Maryland, Contractor— General License Classification 1974 Organized Fax Phone Vice President Vice Senior Vice President Senior Vice President Vice President Vice Senior Vice President Senior Vice

President Vice Chairman Vice President Vice

Vice President Vice Officer/Treasurer Financial Chief Senior Vice President Senior Vice

MISSION STATEMENT

Vision Statement Ashland Construction Company is a leading general contractor providing comprehensive construction related services, with a depth of experience in retail projects and design-build project delivery. Particular emphasis is placed on long-term relationships with our employees, clients, and vendors.

Our Values ■ We hold fairness and integrity as our core values; ■ We will promote a safe work environment for our employees; ■ We recognize that continuous improvement is critical to our future success; ■ We are committed to establishing and maintaining long-term relationships with our employees, clients, and subcontractors/suppliers; ■ We will provide optimum value to our clients; ■ We are focused on sustaining profit without compromising these values.

Commitments To our Owners/Developers, we will deliver: ■ a relationship-driven, collaborative approach to enable them to achieve their goals; ■ optimum value; ■ value-added, comprehensive service.

To our Owners’ tenants, we commit: ■ to regard them as a vital team member; ■ to understand and adapt to their program and criteria; ■ to recognize the critical nature of their delivery and opening process.

To our Subcontractors/Suppliers, we assure: ■ respect, fairness, and prompt payment; ■ a team-based relationship; ■ opportunity to succeed and to secure future work.

To our employees, we pledge: ■ a safe work environment; ■ teamwork, mutual respect, trust, loyalty, and open communication in the workplace; ■ competitive benefits and compensation; ■ empowerment and the opportunity for personal development.

5 ASHLAND CONSTRUCTION COMPANY Raleigh, – PeacePublix St. Richmond, Virginia &Shops Huguenot Village Cary, North Carolina FoodsLowes &Shops Center Greystone Shopping Henderson, North Carolina Benchmark CommunityBank King, North Carolina #6789 Supercenter Alexandria, Virginia Suites APT Stay Goldsboro, North Carolina Suites APT Stay Apex, North Carolina Crossroads Ford Truck Center Lumberton, North Carolina Crossroads Mitsubishi Belmont, North Carolina Belmont TownCenter TeeterHarris – Greenville, SouthCarolina –Northpointe Hilton Head, SouthCarolina Park Plaza Harris Teeter Fuel Center– Morrisville, North Carolina Suites APT Stay , Pennsylvania CVS –Forbes Avenue Fort Mill, SouthCarolina CVS –Springfield Parkway Raleigh, North Carolina ForestSpring Rd. CVS HealthHub– Southport, North Carolina FoodsLowes &Shops Crossings Southport Burlington, North Carolina #1418 Stafford,Virginia &Shops Publix Market at Embrey Mill REPRESENTATIVE PROJECTS

Browns Retail Bridge Jacksonville, North Carolina MarketplaceGateway Fort Mill, SouthCarolina FareEarth &Shops Fort Crossing Mill – Huntersville, North Carolina FoodVillage Lion – Eastfield Raleigh, North Carolina – Bent Tree Plaza Jacksonville, North Carolina FreedomRetail Village Raleigh, North Carolina Shack Drive Henrico, Virginia CVS – W. Broad St. Suffolk,Virginia CVS –GodwinBlvd. Hopewell, Virginia CVS –OaklawnBlvd. Southport, North Carolina Crossings CVS –Southport Fuquay Varina, North Carolina Crossroads Quicklane Apex, North Carolina Crossroads Ford Pines,Southern North Carolina Crossroads Ford Virginia Chesterfield, &Shops Publix – Cosby Village Chester, Virginia Center Shopping Breckenridge Swansboro, North Carolina CenteratSwansboro Bailey Rockingham, North Carolina #1085 Lidl Wake Forest, North Carolina #1033 Lidl Sanford, North Carolina #1058 Lidl Durham, North Carolina Churchill Commons Cumming, Georgia

Fayetteville, North Carolina &Shops Publix Tallywood Center– Shopping High Point, North Carolina FareEarth &Shops Palladium atDeepRiver – Columbia, SouthCarolina FoodsLowes –Forest Acres Charlotte, North Carolina Harris Teeter –ReaFarms New Bern, North Carolina MarketplaceNew Bern TeeterHarris – Raleigh, North Carolina Cameron Village Harris Teeter Remodel– Beach, Virginia Virginia Harris Teeter –Great Neck Square Suffolk,Virginia Bennetts Creek Crossing TeeterHarris – Raleigh, North Carolina TeeterHarris – Towne North Chesapeake, Virginia Harris Teeter –Orchard Square Gaithersburg, Maryland Sam’s Club–Remodel Gastonia, North Carolina Sam’s Club–Remodel Fayetteville, North Carolina Retail Street Ramsey Wake Forest, North Carolina Laboratory Radeas Benson, North Carolina McGee’s Crossing Retail Apex, North Carolina PointePublix 3Retail –Lot SouthCarolina Summerville, FoodsLowes –Oakbrook Square Roanoke, Virginia FareEarth &Shops Center– Ivy Market Shopping Holly Springs, North Carolina Commons Lake Sunset at Lakes Holly

Cape Fear Discount Drug CVS – Route 40 & CVS – First Colonial Road & Hope Mills, North Carolina Middletown Parkway Great Neck Road Middletown, Maryland Virginia Beach, Virginia Cleveland Market Food Lion & Shops Walmart Supercenter PDQ – Pelham Road Clayton, North Carolina Wilmington, North Carolina Greenville, Publix Pointe – Publix & Shops Walmart Supercenter Shops at Cameron Place Apex, North Carolina South Riding, Virginia Sanford, North Carolina Walmart Neighborhood Market – BB&T – Litchford Road Bailey Shoppes – Marine Boulevard Nordan Shopping Center Raleigh, North Carolina Jacksonville, North Carolina Danville, Virginia & Shops – Dollar Tree – Gateway Forest Village Market East Park West Village Wake Forest, North Carolina Greenville, South Carolina Morrisville, North Carolina Carolina Forest Carolina Colours Retail Shops Walmart Supercenter Jacksonville, North Carolina New Bern, North Carolina Greenwood, South Carolina CVS – Mercury Boulevard & Riverside Crossing Nichols Plaza Armistead Avenue Greer, South Carolina Apex, North Carolina Hampton, Virginia Harris Teeter – Carolina Colours Biotest Pharmaceuticals – Hamricks – Wilders Grove Shopping Center Freedom Village Raleigh, North Carolina New Bern, North Carolina Jacksonville, North Carolina CVS Pharmacy – Ocean Gateway CVS Pharmacy – Ram’s Plaza Walmart Neighborhood Market – West Ocean City, Maryland Chapel Hill, North Carolina Tommy’s Drive & CVS Pharmacy – Remodel – Wayne Memorial Drive North Village Main Boulevard Clayton Corners Goldsboro, North Carolina Lewes, Delaware Clayton, North Carolina Richland Creek Plaza Sam’s Club PetSmart Wake Forest, North Carolina Wake Forest, North Carolina Jacksonville, North Carolina Walmart Neighborhood Market – Food Lion – Chowan Crossing Lowes Food Remodel – Preston Settler’s Market Edenton, North Carolina Corners Shopping Center Williamsburg, Virginia Cary, North Carolina Crossroads Ford Quicklane Bottom Dollar – Wilmington Road Prince George, Virginia Shops at Myrtle Ridge New Castle, Pennsylvania Conway, South Carolina CVS – West Schuykill Road Advance Auto – Ten Ten Road Pottstown, Pennsylvania Harris Teeter – Garner, North Carolina The Pointe at Creedmoor Walmart Supercenter Raleigh, North Carolina Walmart Neighborhood Market – Spout Springs, North Carolina Winters Chapel Road Carefirst Animal Hospital – Gateway Dunwoody, Georgia CVS – Virginia Drive & Commons Susquehanna Road Wake Forest, North Carolina CVS Pharmacy – Dresher, Pennsylvania North Dupont Boulevard Walmart Supercenter – Milford, Delaware Food Lion & Shops Virginia Beach Town Center Southport, North Carolina Virginia Beach, Virginia CVS Pharmacy – Chestnut Ridge & Pineview Drive BB&T – Park West Village CVS – Fair Lakes Circle & Morgantown, West Virginia Morrisville, North Carolina Shoppes Lane Fairfax, VA Festival at Old Bridge Façade Harris Teeter - Pinecroft Renovation Pinehurst, North Carolina Walmart Neighborhood Market – Woodbridge, Virginia Cedar Road Bayshore Commons Shops PDQ – Searstone Chesapeake, Virginia 7 Wilmington, North Carolina Cary, North Carolina ASHLAND CONSTRUCTION COMPANY , Georgia Walmart City – Supercenter Vine Fallston, Maryland CVS Pharmacy Hawk,Kitty North Carolina Walmart –Expansion Supercenter Hampstead, North Carolina Hampstead TownCenter Charlotte, North Carolina Independence Boulevard Walmart Neighborhood Market – Odenton, Maryland –Annapolis Road CVS Pharmacy Ahoskie, North Carolina Walmart Supercenter Blackstone, Virginia Walmart –Remodel Supercenter Staunton, Virginia AvenueChurchill &Grubert – CVS Pharmacy Pawleys Island, SouthCarolina Pawleys Market Fayetteville, North Carolina Church Road McPherson –North PDQ Pittsburgh, Pennsylvania Bottom –Penn Dollar Avenue Durham, North Carolina – WatkinsPDQ Road Hickory, North Carolina –USHighway 70 PDQ Beach,Myrtle SouthCarolina Carolina Forest Cary, North Carolina Harris Teeter –Parkside Commons Hampton, Virginia Armistead & North Boulevard –Mercury Mattress Firm Lithonia, Georgia Covington Highway Walmart Neighborhood Market – Chapel Hill, North Carolina East Franklin Street – CVS Pharmacy Pittsburgh, Pennsylvania –Centre AvenueCVS Pharmacy REPRESENTATIVE PROJECTS

Food Lion –Remodel McKeesport, Pennsylvania Bottom Food Dollar Covington, Georgia Walmart Supercenter Ambridge, Pennsylvania Bottom Food Dollar Portsmouth, Virginia &GreenwoodAirline Drive – CVS Pharmacy Sylva, North Carolina CVS Pharmacy Fayetteville, North Carolina Center Northwood Shopping Wake Forest, North Carolina &Shops Sitework – Creedmoor Village Virginia Norfolk, &PoplarMilitary Drive Hall – CVS Pharmacy Washington, D.C. Rhode IslandAvenue – CVS Pharmacy Chapel Hill, North Carolina FoodsLowes –Remodel Nags Head, North Carolina PetSmart Chesapeake, Virginia & CanalDrive Highway –Military CVS Pharmacy Eden, North Carolina Walmart –Remodel Supercenter Goldsboro, North Carolina Walmart –Remodel Supercenter Charles Town, West Virginia Washington & West Street – CVS Pharmacy Arlington, Virginia Hayes &12thStreet – CVS Pharmacy Jacksonville, North Carolina Freedom West Village Elkton, Virginia Food Lion –Remodel Virginia Timberville,

Richmond Road &Croaker Road – CVS Pharmacy Sanford, North Carolina Crossroads Nissan ofSanford Williamsburg, Virginia Town atNew FamilyAmerican Fitness Virginia Norfolk, Lafayette Boulevard – CVS Pharmacy Hickory, North Carolina Crossroads Nissan ofHickory Durham, North Carolina Kitt Creek Commons Advance Auto – Clearfield, Pennsylvania CVS Pharmacy Mineral, Virginia Landing New Bridge New Bern, North Carolina Renovation Square Berne Beach, Virginia Virginia BoothBoulevard General – CVS Pharmacy Beach, Virginia Virginia Lynnhaven Mall Walmart Expansion Supercenter – Meyersdale, Pennsylvania Meyersdale Commons Hamilton Township, NewJersey Bottom Food Dollar Portsmouth, Virginia Frederick Boulevard – CVS Pharmacy Wake Forest, North Carolina CrossingHarris –Shops Falling Waters, West Virginia Riverside Marketplace Chesapeake, Virginia Walmart Supercenter Virginia Norfolk, Little Creek Drive &Shore – CVS Pharmacy Williamsburg, Virginia Richmond Road &Croaker Road Food Lion – Williamsburg, Virginia

CVS Pharmacy Harris Teeter Crossroads Chrysler Jeep Dodge Troutville, Virginia Crozet, Virginia Colonial Heights, Virginia Walmart Supercenter The Shoppes at Williamston Crossroads Ford Raeford, North Carolina Williamston, North Carolina Colonial Heights, Virginia Goodyear at Windsormeade Shoppes at Forest Oaks Kerr Drug Williamsburg, Virginia Greensboro, North Carolina Troutman, North Carolina CVS Pharmacy – Shoppes at Fieldstone Orrick Commons Richmond & Ironbound Road Dover, Delaware Winchester, Virginia Williamsburg, Virginia Kerr Drug Ace Hardware – Anderson Pre-Owned Toyota Ayden, North Carolina Morrisville Market Raleigh, North Carolina Morrisville, North Carolina Kerr Drug CVS Pharmacy – Roseboro, North Carolina La Plata Plaza North Challenger Avenue La Plata, Maryland Roanoke, Virginia Food Lion Scottsville, Virginia – Salisbury Boulevard Harris Teeter – North Hills Salisbury, Maryland Raleigh, North Carolina CVS Pharmacy – Green Level to Durham Road Cary Park Town Center CVS Pharmacy– Searstone Village Cary, North Carolina Cary, North Carolina Cary, North Carolina Shops at Back Bay Center CVS Pharmacy – Genito Road CVS Pharmacy – Laskin Road Millsboro, Delaware Midlothian, Virginia Virginia Beach, Virginia Maple Street Commons CVS Pharmacy Louisburg Plaza Carrollton, Georgia Orange, Virginia Louisburg, North Carolina Sargent Plaza Salem Street Station Walmart Supercenter Sargent, Georgia Thomasville, North Carolina Louisburg, North Carolina Jackson Street Station Ace Hardware – Alexander Village Food Lion – Salem Center Newnan, Georgia Durham, North Carolina Bear, Delaware Food Lion – Airline Boulevard Walnut Hill Market Harris Teeter – Portsmouth, Virginia Petersburg, Virginia Quarterpath Crossing Williamsburg, Virginia Harris Teeter Premier Landing Shopping Center, Millsboro, Delaware Phase II Gateway Commons Roanoke Rapids, North Carolina Wake Forest, North Carolina CVS Pharmacy – Plank Road Fredericksburg, Virginia CVS Pharmacy – CVS Pharmacy West Street Creedmoor, North Carolina CVS Pharmacy – Bailey Bridge Road Greencastle, Pennsylvania Chesterfield, Virginia Harris Teeter – Brenneman Farms Kerr Drug – Skeet Club Road Virginia Beach, Virginia Walgreens – Crain Highway High Point, North Carolina La Plata, Maryland Food Lion – Beaver Brook Plaza Harris Teeter – New Castle, Delaware Quarterpath Crossing Kings Grant Commons Williamsburg, Virginia Fuquay-Varina, North Carolina CVS Pharmacy – Village Walk Drive Kia of Raleigh Breckenridge Shopping Holly Springs, North Carolina Raleigh, North Carolina Center Shops Chesterfield, Virginia Crisfield Shopping Center New River Plaza Crisfield, Maryland Dublin, Virginia Shoppes at Midway Plantation Knightdale, North Carolina Food Lion & Shops – Fenwick Plaza Harris Teeter – Cary Park Fenwick Island, Delaware Cary, North Carolina Kings Grant Commons Shops Fuquay-Varina, North Carolina 9 ASHLAND CONSTRUCTION COMPANY Fredericksburg, Virginia Marketplace Shops Town andCountry Courtland, Virginia ParkwaySouthampton Food Lion – Dunn, North Carolina PointeEast Village Raleigh, North Carolina Wakefield Commons Marquee Cinemaat Powhatan, Virginia Creek Plaza South Jamestown, North Carolina – W.Kerr Drug MainStreet Woodbine, Maryland Food Lion –Lisbon Center Gastonia, North Carolina Family –N. Dollar ChesterStreet City,Dale Virginia Road Hoadly Food – Lion &Shops Burlington, North Carolina CommonsUniversity Morrisville, North Carolina Market Morrisville Fayetteville, North Carolina Gray’s Center Creek Shopping Durham, North Carolina –Holloway Street Kerr Drug Lusby, Maryland Lusby TownCenter Williamsburg, Virginia New Town Cinema&Shops Creedmoor, North Carolina Creedmoor Commons Waynesboro, Pennsylvania –EastMainStreet CVS Pharmacy Chesapeake, Virginia Atlantic Marketplace Millington, Maryland Food Lion Durham, North Carolina Alexander Village REPRESENTATIVE PROJECTS

CVS Pharmacy – Seminole –Seminole CVS Pharmacy Trail La Plata, Maryland Plaza Plata La Dinwiddie, Virginia Food Lion La Plata, Maryland HighwayCrain – CVS Pharmacy Milton, Delaware Milton Park Center Fort Mill, SouthCarolina Catawba Commons Fredericksburg, Virginia Center River ClubShopping Mebane, North Carolina Oak ManorMarket Goldsboro, North Carolina New HopePlaza Fredericksburg, Virginia Loop McWhirt – CVS Pharmacy Savannah, Georgia Addition Mall Savannah Savannah, Georgia Target Mall –Savannah Hanover, Maryland Village Arundel North Carolina Raeford, Center Shopping Hoke Landing Williamsburg, Virginia Marketplace WindsorMeade Newton Grove, North Carolina Plaza Circle Goochland, Virginia Commons Courthouse Suffolk,Virginia RoadBridge Plaza Westminster, Maryland Center Shopping Food Lion – Westminster Raleigh, North Carolina Falls River Town Center Ace Hardware – Charlottesville, Virginia

Shippensburg, Pennsylvania –E.CVS Pharmacy KingStreet Rocky Mount, North Carolina Center Shopping Branch Mill Cary, North Carolina Mall Hills –South Kerr Drug Lewes, Delaware Five Villages of The Points Blacksburg, Virginia Food Lion –Hethwood Square Camden, Delaware Walmart Supercenter Raleigh, North Carolina Place Edgewater Charlotte, North Carolina Target Commons –Albemarle Mooresville, North Carolina Super Target Bay – Winslow Lewisville, North Carolina Center River Ridge Shopping Fredericksburg, Virginia –ButlerRoad CVS Pharmacy Cary, North Carolina Crossroads Ford Center Sales Hall,Oak Virginia Center Shopping Oak Hall Fayetteville, North Carolina Center Shopping A.C. Moore –Crosspointe Raleigh, North Carolina Creek –Brier Winn-Dixie Holden Beach, North Carolina Commons Ocean View Laurel, Maryland Plaza Food –Crystal Lion &Shops Rocky Point, North Carolina PointRocky Plaza Fredericksburg, Virginia Butler Road Shops Edgemere, Maryland Food Lion Mount Pleasant, North Carolina Target Farms –Seaside Richmond, Virginia –E.CVS Pharmacy MainStreet

Madison Plaza Winterpock Crossing Phase II Food Lion – North Crain Highway Madison, Virginia Midlothian, Virginia Glen Burnie, Maryland The Shoppes at Bell Creek Target – Manchester Village Wakefield Commons Mechanicsville, Virginia Rock Hill, South Carolina Shopping Center Raleigh, North Carolina McGee’s Crossing The Shops at Ladysmith McGee’s Crossroad, North Carolina Ladysmith, Virginia Office Max – Huffman Mill Plaza Burlington, North Carolina Westlake Village Waynesboro Market Place Waldorf, Maryland Waynesboro, Pennsylvania Broad Street Market Fuquay-Varina, North Carolina Target – Azalea Village Callaway Marketplace Summerville, South Carolina Callaway, Maryland CORT Furniture Rental Raleigh, North Carolina Villa Crossing Target – Columbia East Grottoes, Virginia Columbia, South Carolina Collins Plaza Angier, North Carolina Food Lion Food Lion – Yorktowne Plaza Montross, Virginia Cockeysville, Maryland Food Lion – Glenwood Center Raleigh, North Carolina Village of Painters Mill Crossroads Ford Service Center Owings Mill, Maryland Cary, North Carolina Hilltop Crossings Shopping Center Target – Florence Commons Flowers Plantation Fuquay-Varina, North Carolina Florence, South Carolina Clayton, North Carolina Park Place Bridgeville Park Center Target Morrisville, North Carolina Bridgeville, Delaware Bluffton, South Carolina Hannah Plaza Eagle Farm Shopping Center The Creeks at Virginia Center Cresaptown, Maryland Wilson, North Carolina Richmond, Virginia The Shops at Salem Fields Target – The Citadel Mall Walmart – College Park Fredericksburg, Virginia Charleston, South Carolina Georgetown, Delaware Kerr Drug Monticello Marketplace Shoppes Virginia Center Marketplace Franklinton, North Carolina Williamsburg, Virginia Richmond, Virginia Midway Park Center Wakefield Crossing Greencastle Market Place Harrington, Delaware Raleigh, North Carolina Greencastle, Pennsylvania Food Lion – Taylor Road CVS Pharmacy – Food Lion – Courthouse Commons Chesapeake, Virginia North Third Street Chesterfield County, Virginia Oakland, Maryland King George Plaza at Perry Creek King George, Virginia Kerr Drug – Main Street Raleigh, North Carolina High Point, North Carolina Food Lion – Food Lion – Outer Banks Mall Culpeper Town Mall Five Points Plaza Nags Head, North Carolina Culpeper, Virginia Goldsboro, North Carolina Cardinal Plaza Food Lion – Marlboro Square Central Crossing Henderson, North Carolina Upper Marlboro, Maryland Central Garage, Virginia Linens ‘N Things – Buckingham Plaza Centreville Park Centre Glenwood Center Dillwyn, Virginia Centreville, Maryland Raleigh, North Carolina Food Lion – Kerr Drug – Wakefield Kerr Drug Broad View Shopping Center Raleigh, North Carolina Benson, North Carolina Goochland, Virginia – The Creeks Cross Pointe Centre Nashville Commons at Virginia Center Jacksonville, North Carolina Nashville, North Carolina Glen Allen, Virginia 11 ASHLAND CONSTRUCTION COMPANY Rocky Mount,Rocky Virginia Furnace Marketplace Norlina, North Carolina Warren Center Shopping Corners Christiansburg, Virginia Food Lion Plaza –Hills Spotsylvania, Virginia Traveler’s Center Row Shopping Newport, North Carolina TownCourtesy Square Varina, Virginia New Market Square George, Virginia Prince Village Lakes Branchester Hope,Spring North Carolina HopeCommons Spring Pembroke, North Carolina Plaza University Wilmington, North Carolina Center Shopping NorthChase Laurel, Delaware Center Shopping Laurel Square Fredericksburg, Virginia CVS –BattlefieldGreen Gloucester, Virginia Walter ReedPlaza Apex, North Carolina Peak Plaza Jacksonville, North Carolina Center Shopping Highland Crossing Fayetteville, North Carolina Center Shopping Rosehill Richmond, Virginia Colonnades West II Phase Jacksonville, North Carolina Center Shopping Crossing Williamsburg Chambersburg, Pennsylvania Westside Plaza Williamsburg, Virginia Monticello Marketplace Franklinton, North Carolina Franklinton Plaza REPRESENTATIVE PROJECTS

Hilltop Plaza Shopping Center Shopping Plaza Hilltop Berlin, Maryland Plaza Brittingham Gordonsville, Virginia Gordonsville Plaza New KentCounty, Virginia New KentPlaza Washington, North Carolina & Winn-Dixie Renovation Washington Mall Square Grafton, Virginia at Yorktown Shoppes Apex, North Carolina Center Shopping Station Vineyard Manassas, Virginia Food Road Lion –Centerville Havelock, North Carolina Shopping Center Greenfield New Bern, North Carolina Target Denton, Maryland Food –5thAvenue Lion Plaza News,Newport Virginia PointOyster Marketplace Durham, North Carolina at Lakewood Food Lion – Shoppes The Richmond, Virginia Road – Williamsburg Powhatan, Virginia Powhatan Plaza Hampton, Virginia Nickerson Marketplace Lillington, North Carolina Cape Fear Crossing Henderson, North Carolina Vance Building Industrial Henderson – High Point, North Carolina Target –OakHollow Mall Greensboro, North Carolina Target– Wendover Buena Vista, Virginia

Lynchburg, Virginia – Station Winn-Dixie Timberlake Dinwiddie, Virginia Westgate Center Shopping Square Greenville, North Carolina Target Square –University Oxford, North Carolina Commons Oxford Franklin, Virginia Marketplace Winn-Dixie Alliance, North Carolina Pamlico Square Taneytown, Maryland Food Lion –EastBaltimore Street Henderson, North Carolina Food Lion –Henderson Mall Mt. Pleasant, SouthCarolina Wando Crossing Walmart Addition – Greenville, South Carolina Taylors Square Walmart Expansion – Henderson, North Carolina Walmart –Henderson Square Goldsboro, North Carolina Target Cary, North Carolina Center Shopping Crescent Commons Holly Springs, North Carolina Center Shopping Oak Hall Millville, Delaware Creekside Plaza County,Bladen North Carolina Bladen Plant &Henderson – Harriet News,Newport Virginia Plaza Hall Lee Henderson, North Carolina Texel, Inc. County,Spotsylvania Virginia Lee’s Center Shopping Hill Virginia Wilderness, ofthe Lake Woods Center Shopping

Paddington Station – Walmart Raleigh, North Carolina Harbour Pointe Village Shopping Center Richmond, Virginia Willow Place Shopping Center Richmond, Virginia Port Elizabeth Centre Elizabeth City, North Carolina Harrison Square Cary, North Carolina Huffman Mill Plaza Burlington, North Carolina Circuit City Superstores Fayetteville, Winston-Salem, Greensboro, Raleigh, North Carolina Lynnhaven North Shopping Center Virginia Beach, Virginia Avent Ferry Shopping Center Raleigh, North Carolina Glenwood Village Shopping Center Raleigh, North Carolina North Plaza Shopping Center Raleigh, North Carolina

13 ASHLAND CONSTRUCTION COMPANY Salisbury, North Carolina Food Lion Stores, LLC Columbia, South Carolina Edens New York,New York Shack Drive West Hartford, Connecticut Realty,Developers Inc. New Castle, Delaware DonneDelle andAssociates, Inc. Woonsocket, Rhode Island CVS Pharmacy Wake Forest, North Carolina Crossroads Auto Group Baltimore, Maryland Corporation Continental Realty McLean, Virginia Compson Development Raleigh, North Carolina Commercial Properties, Inc. Charlotte, North Carolina Collett Richmond, Virginia Stores,Circuit City Inc. Henderson, North Carolina Chase Development Company Wilmington, North Carolina Capital Centre Development, Ltd. Raleigh, North Carolina Bob Hughes&Associates, Inc Henderson, North Carolina Benchmark Bank Henderson, North Carolina Properties,Barnett Inc Jacksonville, North Carolina &Associates,Bailey Inc. Charlotte, North Carolina Aston Properties Butler, Pennsylvania Armstrong Development Properties Chesapeake, Virginia Development Corporation Armada/Hoffler Raleigh, North Carolina Anderson Automotive Group DEVELOPERS/OWNERS

JEM Development Company Camp Hill, Pennsylvania JC BarProperties, Inc. Raleigh, North Carolina Income Properties ofRaleigh, Inc. Virginia Norfolk, Commercial RealEstate Lindsay Harvey Matthews, North Carolina Harris Teeter Stores, Inc Wrightsville Beach, North Carolina RetailPartnersHarbour Virginia Norfolk, Hogan,Goodman Segar Inc Cary, North Carolina GFD Management, Inc. Charleston, SouthCarolina Realtylink Lakeland, Publix Raleigh, North Carolina Associates,Plaza Inc. Cincinnati, & Company Phillips-Edison Beckley, West Virginia Paramount Development Corporation Winston-Salem, North Carolina FoodLowes Raleigh, North Carolina Lincoln Harris Arlington, Virginia USOperations,Lidl LLC Charlotte, North Carolina &Associates Purser Lat New Hyde Park, New York Corporation Kimco Realty Raleigh, North Carolina Kerr Drug, Inc. Raleigh, North Carolina Corporation Realty Kane Pittsburgh, Pennsylvania Company Realty Kamin Raleigh, North Carolina &Associates Garner Jim Gastonia, North Carolina

Ambler, Pennsylvania Advisors, Realty Summit LLC Matthews, North Carolina Suites APT Stay Augusta, Georgia Development Associates Southeastern Virginia Norfolk, S.L. Company Nusbaum Realty Henderson, North Carolina Corporation Rosemyr Fayetteville, North Carolina Commercial PropertiesRiddle Raleigh, North Carolina Centers Regency Columbia, SouthCarolina Developments Red Rock Bentonville, Arkansas Walmart Stores, Inc. Raleigh, North Carolina Wakefield Associates Beach, Virginia Virginia Venture Group Realty Raleigh, North Carolina Vanguard Property Group Baltimore, Maryland Trout DanielandAssociates Longwood, Florida Development Corporation Timber Richmond, Virginia The Rebkee Company Fredericksburg, Virginia CompanySchooler The Malone Richmond, Virginia The Covington Company Minneapolis, Minnesota

TENANTS/OWNERS

Grocery Apparel & Footwear Other Retail Burke’s Outlet A.C. Moore Earth Fare Butler Shoes Advance Auto Food Lion Cato Auto Zone Harris Teeter Dress Barn Barnes & Noble Foot Locker Baskin Robbins Lidl Hamrick’s Bed, Bath & Beyond Lowes Foods Lane Bryant Publix Old Navy Blockbuster Video Redner’s Market Payless Circuit City Safeway Pic ‘N Pay Conns Walmart Neighborhood Market Rack Room Shoes Dick’s Sporting Goods Winn-Dixie Ross Dress for Less Dollar General rue 21 Dollar Tree S&K Menswear Dunham Sports Discount & Shoe Carnival Family Dollar Home Improvement Shoe Department Fantastic Sam’s Ace Hardware Shoe Show Game Stop Kmart Great Clips Lowe’s Hair Cuttery Target Automotive Hallmark Cards Walmart Crossroads Chrysler Jeep Dodge Hibbett Sports Crossroads Ford Homegoods Crossroads Ford Quick Lane Jo Ann Fabrics Department Store Crossroads Infiniti Kirkland’s Belk Crossroads Nissan Linens ’n Things J.C. Penney Fred Anderson Kia Mattress Warehouse Marshall’s Fred Anderson Toyota Pre-Owned Michaels Goodyear Movie Gallery TJ Maxx Office Depot Other Commercial Office Max Drug Omega Sports Cape Fear Discount Drug BB&T PetSmart CVS/Pharmacy Benchmark Bank PETCO Edgehill Drugs Carefirst Animal Hospital Petsense Happy Harry’s Drive Shack Pier One Imports Kerr Drug Dunkin Donuts Sally Beauty Realo Drug Hickory Tavern Southern States Rite-Aid PDQ Super 10 Standard Drug Radeas Laboratory T Mobile Thrift Drugs Starbucks TCBY Walgreens Stay APT Suites Ulta Verizon

15 ASHLAND CONSTRUCTION COMPANY 919-859-7003 Raleigh, Carolina North 27607 978 TrinityRoad bai-Architects Spencer Will 919-845-7600 Raleigh, Carolina North 27615 Forks8522-204 Six Road LandDesign,Piedmont LLP Lasley David 919-821-2800 Raleigh, Carolina North 27603 130 Penmarc Drive, 110 Suite Howard Architecture, P.A. HowardChris 919-578-9000 Raleigh, NC27607 4011 WestChase Boulevard, 290 Suite NC,Bohler Engineering PLLC Andrew Moriarty, P.E. Architects &Engineers 252-492-7551 Henderson, NC27536 Ave.,1775 Graham 201 Suite Properties,Barnett LLC Barnett Hall 919-789-9707 Raleigh, Carolina North 27612-6341 Place, 105 Suite 2840 Plaza Wakefield Associates, Inc. RoweRick 704-844-3103 Matthews, Carolina North 28106 Post OfficeBox 10100 Harris Teeter Stores, Inc. Michael Burdette 704-633-8250 Salisbury, Carolina North 28145-1330 Post OfficeBox 1330 Food LionStores, LLC Mike Belk Tenants &Owners REFERENCES Norton Collar LundLilley, Collar Norton PLLC John H. Collar, III Public Accountant Certified 910-435-3600 Fayetteville, Carolina North 28302 Post OfficeBox 2038 Inc. Services, Insurance McGriff Douglas English Bonding Agent 919-716-8677 Raleigh, Carolina North 27609 Forks4400 Six Road Bank Citizens First Covil Steve Bank 972-470-1777 75074 Plano, TX 740 FAvenue, 303 Suite Electric Shine Dan Shine 919-213-3912 Morrisville, Carolina North 27560 Post OfficeBox 189 Adams Products Company Gaw Cheryl 919-596-4446 Raleigh, Carolina North 27675-0127 Post OfficeBox 90127 B.A. &Associates, Hoft Inc. Hoft Phil 919-832-2804 Raleigh, Carolina North 27628 Post OfficeBox 6245 Company Custom Brick Fisher Grant Suppliers &Subcontractors 919-841-1000 Raleigh, Carolina North 27615 Forks7701 Six Road, 100 Suite

17 4601 Atlantic Avenue Raleigh NC 27604 919.872.7500 phone 919.872.7913 fax ashlandconstruction.com